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Markets

2,633.69 0.06%
Volume
201,539,267
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0.06%
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3,667
15
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1
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18
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Traded stocks 34
5,098.12 0.74%
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14
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KHCB
0.65
Al Madina
0.29
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1.05
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0.38
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0.13
IFA
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1.48
RAK Cement
0.69
Emaar
4.66
GFH
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ADCB
9.79
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5.45
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UPP
0.38
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1.75

International Business Times


Why opposing Trump's World Bank president pick might just work

US President Donald Trump's nomination of his Treasury Undersecretary David Malpass to become President of the World Bank Group and CEO of the World Bank should be seen more as an opportunity than a problem by African leaders and other major borrowers.By one scenario the US could still secure a majority vote for their nominee, as they have in every Bank presidential election since the institution's founding in 1944. But this shouldn't be viewed as cast in stone given how threadbare previously staunch relationships have become, mainly due to Trump's erratic behaviour. Even the US's European allies, including Germany's Chancellor...

Apple could acquire Tesla soon, fund manager predicts

Tesla Inc. with a market value of $52.5 billion is a prime target for acquisition, and Apple Inc. might have Elon Musk's baby in its sights, claims a fund manager.This speculation by Freddie Lait, chief investment officer at Latitude Investment Management, is old news given new life by the peculiar situations both firms find themselves in today. Apple is still committed to its goal of moving beyond the iPhone and other electronic devices while Tesla is again facing the same old problem -- too much ambition and too little cash.Back in January 2018 when Tesla's market cap of $58 billion...

US-China trade talks: Will the Chinese keep promises to stop bad behaviour?

Talks between the U.S. and China to end the trade war appear to be in trouble with the March 2 deadline for a deal fast approaching.In the ongoing trade talks between the U.S. and China, a lack of trust – key to any successful negotiation – appears to be hobbling the ability to reach a deal. Hence it is not clear negotiators will be able to achieve anything substantive before they hit President Donald Trump's deadline, triggering automatic tariff hikes if there's no agreement.As a trade economist, I believe the answer to the trust conundrum lies in learning from an...

Amazon strikes a blow in the logistics industry

For years, rumors have been building of Amazon.com's (NASDAQ:AMZN) intentions in logistics and delivery. The company has added fulfillment and logistics services to the list of competitors in its 10-K report, and has unveiled a program called Amazon Shipping, whereby the company picks up and delivers other shippers' packages. In recent earnings calls, CFO Brian Olsavsky has also begun talking more about the company's ambitions in logistics.However, the clearest sign yet of Amazon's potential impact in the industry came from the recent earnings report from XPO Logistics (NYSE:XPO), one of the biggest global providers of freight and logistics services and...

Boeing's 777X will benefit from the Airbus A380's demise

Last week, Airbus (NASDAQOTH:EADSY) announced that it will wind down production of its A380 jumbo jet by 2021, confirming recent media reports. Airbus' vision of rising airport congestion forcing airlines to adopt ever larger airplanes was undermined by the growing popularity of small widebodies, such as Boeing's (NYSE:BA) 787 Dreamliner, which have enabled airlines to operate more point-to-point routes that bypass the most congested hubs.That said, there is still a market for large widebody aircraft -- particularly if they can offer a unit cost advantage over their smaller brethren. Boeing's new 777X aircraft family is set to dominate this market...

Tesla systems crash over Model 3 orders In China

A sudden but welcome tsunami in orders for the Tesla Model 3 all-electric sedan has caused the inventory system in some of Tesla's sales offices in China to crash.Tesla said it will begin delivering the Model 3 to customers in March. All Tesla sedans sold in China are made in the United States.Media reports say Chinese social media sites confirm the spike in orders for the Tesla Model 3 all-electric sedan. Social media posts also show strong consumer demand in the Model 3, whose starting price at the start of the year stood at RMB499,000 ($72,000).In December 2018, Tesla slashed...

Russia's RT slams Facebook for suspending anti-US, pro-Kremlin viral video channels

RT (formerly Russia Today), the international TV network funded by the Russian government, is pushing back hard against Facebook for taking-down three online video channels airing anti-American content. The websites are owned by one of its subsidiaries.These websites which were critical of the US, NATO, and issues pertaining to Russia, targeted American millennials. It is believed to be part of a widespread Kremlin disinformation campaign which aims to continue sowing discord in the United States ahead of the 2020 presidential elections. Donald Trump is expected to become the Republican Party nominee for president.The pages removed by Facebook are run by...

NASA Shares Breathtaking Mars Images After Pulling Plug On Opportunity Rover [PHOTOS]

NASA has finally pulled the plug on the Mars Opportunity Rover, which lost contact with the space agency eight months ago.The Opportunity spacecraft landed on Mars back in 2004, but after over 14 years of exploring the Red Planet, the $400 million solar-powered rover suddenly went silent following a massive dust storm. At the time, dust enveloped Mars and prevented sunlight from reaching its surface. NASA received the last signal from Opportunity on June 10, 2018.On Tuesday, NASA tried one last time to communicate with the Opportunity rover, but the space agency did not receive any signals in response. Following...

Amazon, GM To Invest In Tesla Rival Rivian

Upstart auto tech startup Rivian LLC is in talks with Amazon and General Motors Company for a massive investment that will value Rivian at between $1 billion to $2 billion.Founded in 2009 by Robert "RJ" Scaringe (who has a doctorate in mechanical engineering), Rivian has ambitions of being the first to bring an electric truck to market in the United States ahead of Tesla Inc. Sources said the deal, which might close within the month, will give Amazon and GM minority stakes in Rivian."We admire Rivian's contribution to a future of zero emissions and an all-electric future," said GM in...

All Signs Pointing To Google Releasing A Pixel Watch

On its own Alphabet's Google acquiring the smartwatch intellectual property portfolio from Fossil (along with a passel of R&D employees) for $40 million wasn't enough to convince many that a long-rumored Pixel Watch may finally be coming. It was a small transaction, and any number of rationales could be floated to explain the purchase.Fossil itself reiterated that it retained some 200 team members, and said the deal highlighted the two companies' "shared investment in the wearables industry." Maybe it was just much ado about nothing.However, it was recently discovered that Google posted a job opening looking for a vice president...

Here's When Our Milky Way Will Collide With Andromeda Galaxy; What Happens To Earth?

The Milky Way Galaxy will eventually crash into the Andromeda Galaxy in a monster collision, but that won't happen for another few billion years, according to scientists.In a new study based on data from Europe's Gaia spacecraft and now published in the Astrophysical Journal, scientists estimated that in about 4.5 billion years, our Milky Way will collide with its fellow spiral galaxy. This is much later than what previous estimates predicted, which was about 3.9 billion years before the collision would happen.Gaia project scientist Timo Prusti said in a statement that this discovery is an important step forward in unlocking...

Renowned Economist Paul Krugman Predicts Global Recession This 2019

American economist Paul Krugman, a Nobel laureate in 2008 and one of the most influential economists in the United States, has gone out on a limb to predict a worldwide recession this year.Krugman said there's a decent chance the world economy is headed for a recession this year and not for a soft landing as other economists expect. Krugman said there are good reasons to be skeptical about the soft landing scenario, he told his audience at the World Government Summit in Dubai."I think that there is a quite good chance that we will have a recession late this year...