10 NovEMBER 2020 | 24 RABI Ul AWAl 1442 HIJRI | volUME No. 08 | ISSUE 80 /emiratesbusiness.ae @emi_business emirates-business.ae

OP-ED PAGE 04 FOREX (AED) ENERGy TEN TOLA GOLD STOCK MARKET INDEX uSD 3.6800 YEN 0.0359 B r e n t Crude $42.66/bbl buLLION For a strong start, biden needs a smooth transition Abu Dhabi - ADX 4,743.43 EuRo 4.3864 CHF 4.1255 WTI Crude $40.53 /bbl Many expect the 2020 presidential transition to be a repeat of 2016 rather than 2008. That would be, indeed, unfortunate for GBP 4.8597 CAD 2.8517 N a t u r a l G as $2.89 /MMBtu Dubai - DFM 2,219.82 America, writes MohaMed a el-erian PRECIOUS METALS bAnkinG PAGE 07 New york - NYA 13,784.31 EXCHANGE RATE Sri Lankan Rs 50.11 Gold $1,868.00/t oz Goldman sachs chops treasury yield target Indian Rs 20.08 Philippine Peso 12.89 Gold-Dubai AED237.25/gm Buy for London - UKX 6,186.29 Bangladesh Taka 22.32 (AED) 27,672.84 The prospect of a divided Congress in the US under a Democratic Pakistani Rs 42.63 Silver $24.13/t oz president makes another big fiscal stimulus package unlikely

Tuesday

Price UAE: AED 2

Too early to say whether Covid-19 Mansour Meets uzbek Minister will permanently affect oil demand Says UAE energy minister Suhail Al Mazrouei, adding we will revisit our plans for the post-pandemic period

Abu DhAbi / wam ganised on the sidelines of the Abu Dhabi International Suhail bin Mohammed Al Petroleum Exhibition and Mazrouei, Minister of En - Conference (Adipec) Al ergy and Infrastructure, Mazrouei said, "The oil in - stated that changes to oil dustry, from a supply per - prices are caused by supply spective, is a regular process, and demand, and it is too and we, in the UAE, are capa - early to say whether the ble of effectively overcoming coronavirus pandemic will The trust in oil markets is the coronavirus pandemic.” permanently affect demand, gradually returning, due “We will face the chal - which is the main factor for to the reassurances given lenges and turn them into determining oil prices. opportunities. We will also The trust in oil markets is by the global efforts revisit our plans for the gradually returning, due to aimed at containing the post-Covid-19 period, and the reassurances given by virus and producing an we are learning lessons the global efforts aimed at efficient vaccine, said from the pandemic," the containing the virus and UAE’s minister of energy producing an efficient Suhail bin Mohammed and infrastructure added. His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, with Sardor Umurzakov, Al Mazrouei, Minister of Uzbek Minister of Investment and Foreign Trade, and his delegation, at Qasr Al Watan, in Abu Dhabi on Monday. During the meeting, both vaccine, he added. sides discussed the bilateral ties between the UAE and Uzbekistan in the areas of investment and commerce, as well as ways of reinforcing During his participation in Energy and Infrastructure nFor full story, read and developing them to achieve their mutual interests —WAM a ministerial discussion or - emirates-business.ae

General administration of abu Dhabi Customs continued its pioneering efforts for uninterrupted flow of supply chains First passengers travel safely on Hyperloop in historic test ride DubAi / wam and development of hyper - Abu Dhabi’s non-oil trade hits loop technology, has played Virgin Hyperloop made his - an instrumental role in tory on Monday as the first today’s milestone. passengers successfully Sultan Ahmed bin Su - traveled in a Hyperloop pod. layem, Chairman of Virgin AED151.18bn in nine months The significant invest - Hyperloop and Group Chair - ment made by Dubai-based man and CEO of DP World, The sector distributed imports worth AED69.33bn, exports of AED55.37bn, DP World, the leading global watched the passenger test - provider of smart logistics ing first-hand in Las Vegas, and re-exports of AED26.48bn during the period despite coronavirus pandemic solutions, in the research Nevada.

Abu DhAbi / wam also diversified, with airborne trade accounting for AED51.35 Abu Dhabi’s non-oil foreign billion, seaborne trade account - trade sector demonstrated ing for AED59.38 billion, and Masdar, FAB complete agility and preparedness, reach - overland trade accounting for ing AED151.18 billion from Jan - AED40.45 billion. energy saving project uary to September this year, Rashid Lahej Al-Mansouri, Di - despite the Covid-19 pandemic. rector-General of the General Abu DhAbi / wam The sector also distributed Administration of Abu Dhabi imports worth AED69.33 billion, Customs, said that Abu Dhabi Masdar, one of the world’s exports worth AED55.37 billion, Customs, across all its sectors, leading renewable energy and re-exports worth AED26.48 adopted a strategic plan to en - companies, and First Abu billion. sure the continuity of supply Dhabi Bank (FAB) announced The General Administration of chains’ flow and to facilitate the the completion of an energy Abu Dhabi Customs continued movement of trade across Abu and water-saving retrofit its pioneering efforts to con - Dhabi. This was achieved by the project for an Abu Dhabi- The Future Rehabilitation tinue the uninterrupted flow of 24/7 work on all customs bor - based school for People of Centre in Mohammed bin supply chains, and protect the Abu Dhabi's foreign trade helped diversify its global and regional markets, with the Kingdom der centres while applying the Determination. Zayed City is benefitting economy and society’s safety of Saudi Arabia registering trade between the nations amounting to AED32.22 billion highest precautionary and pre - The Future Rehabilitation from energy reductions of during the Covid-19 pandemic. ventive measures to maintain Centre in Mohammed bin These efforts were in line with the health and safety of employ - Zayed City is benefitting from over a third and water the leadership’s directives to meet n Abu Dhabi’s airborne trade during the first nine months of ees and inspectors working on energy reductions of over a savings of nearly 30% as a the requirements of the local basic 2020 reached AED51.35bn, seaborne trade accounted for the front lines. third and water savings of direct result of the retrofit commodities mar ket for food and AED59.38bn and overland trade reached AED40.45bn Abu Dhabi's foreign trade nearly 30 percent as a direct medical supplies, while applying helped diversify its global and result of the retrofit. the highest precautionary and regional markets, with the King - Funds from a special co- on the joint credit card, preventative measures to main - n Pearls, precious stones and metals accounted for dom of Saudi Arabia registering branded, biodegradable credit launched at Abu Dhabi Sus - tain the health and safety of em - highest-grossing commodity, amounting to AED27.64bn, trade between the nations card were used to finance the tainability Week 2013, goes to - ployees and inspectors working amounting to AED32.22 billion, retrofit, which followed an ward a dedicated Green Fund on the front lines. a growth of 157% compared to same period last year followed by the United States of extensive audit of the Future for environmental projects The customs transactions America with AED10.70 billion. Rehabilitation Centre by Mas - selected by FAB. completed by the General Ad - transactions during the first nine customs clearance operations dar’s Energy Services team ministration of Customs of Abu months of this year, supported and transactions. nFor full story, read and contractor Smart4Power. nFor full story, read Dhabi recorded around 788,699 by the smooth completion of Transportation methods were emirates-business.ae A percentage of the spending emirates-business.ae

CBD opens Oil climbs near $38 Adnoc CEO calls on oil, gas sector new business after Biden victory to unite in post-Covid recovery service centre bloomberg DubAi / wam Dr Sultan Al Jaber highlighted the resilience of oil demand and Oil advanced near $38 a bar - Commercial Bank of Dubai rel and gold climbed for a stressed the need for industry to balance caution with optimism (CBD) announced the opening third day as President-elect of a dedicated Business Serv - Joe Biden prepared to transi - Abu DhAbi / wam business continuity and not lose ice Centre in Gulf Vision Gov - tion into White House even sight of the long-term as we face ernment Transactions Centre, as Donald Trump rejected Dr Sultan bin Ahmed Al Jaber, the realities of a world turned in - located at Al Nahda Centre, the outcome of US election. Asian renewable energy Minister of Industry and Ad - side out by the pandemic. Ghusais - Dubai. The prime lo - Crude futures in New York stocks surge as Joe Biden’s vanced Technology and Group "For a start, we know the cation provides easy access to rise 2.3% and spot gold victory increases the CEO of the Abu Dhabi National world will still need oil and gas a wide range of services from added 0.2% amid a broader chances that the world’s Oil Company (Adnoc), on Mon - when all of this is done. Even at trade license, immigration, rally in global stocks. The dol - day called on the oil and gas in - the height of the lockdowns of health, emirates ID and bank - lar extended declines. While largest economy dustry to unite in driving the March and April the world still ing services all under one roof Biden declared victory and accelerates its shift post-Covid recovery. consumed 75 million barrels of for businesses. Dr Sultan bin Ahmed Al Jaber prepared to navigate Amer - towards clean power During his opening keynote oil per day. In fact, by our esti - Omar Bushahab, Chief Ex - ica’s pandemic-hit economy address of the 36th edition of the emphasised the importance mates, oil demand fell below 90 ecutive Officer, the Business out of crisis, the unresolved Abu Dhabi International Petro - of the oil and gas industry in million barrels of oil per day for Registration & Licensing sec - status of Senate control may OCI Co. gained as much as leum Exhibition Conference enabling the economic only 12 weeks. So, we know the tor of Dubai Economy, Dr dampen prospects for major 6.6%, while Chinese wind (Adipec), which has seen almost world still needs oil and gas. That Bernd van Linder, Chief Exec - stimulus before January. turbine maker Xinjiang Gold - 20,000 participants register for development in post-Covid is a fact," Dr Al Jaber said. utive Officer of Commercial Asian renewable energy wind Science & Technology the online event, Dr Al Jaber em - recovery by ensuring a He added that the months Bank of Dubai, along with stocks rise as Biden’s victory added as much as 8.9%. phasised the importance of the steady and reliable supply of ahead will be challenging and oil Nabeel Ahmed Mohammed, increases the chances that Meanwhile, foreign oil oil and gas industry in enabling energy to power growth demand may fluctuate but the CEO of Al Nahda Centre, inau - the world’s largest economy purchases by China slumped economic development in the long-term fundamentals of the gurated the new Business accelerates its shift towards to a six-month low last post-Covid recovery by ensuring industry remain intact. Service Centre in the pres - clean power. South Korean month due to lower seasonal a steady and reliable supply of oil demand and stressed the ence of a group of the Bank’s polysilicon manufacturer demand. energy to power growth. need for the industry to balance nFor full story, read customers and members of He highlighted the resilience of caution with optimism, ensure emirates-business.ae senior management. TUESDAY 10 novEmBER 2020 02 news

CHinA remains Dubai’s largest trading partner with AED 66.4 billion worth of trade in the first half of 2020 Virtual Adipec 2020 gets underway in Abu Dhabi DMCC office in Shenzhen to woo abu dhabi / WAM Under the patronage of Pres - ident His Highness Sheikh ‘new wave’ of business to Dubai Khalifa bin Zayed Al Nahyan, Abu Dhabi on Monday hosted the 36th virtual edition of Having a physical presence will bring the free zone to doorstep of Chinese the Abu Dhabi International Petroleum Exhibition businesses and offer a simpler route to company set up process in the emirate Conference (Adipec). The gathering oil and gas n Adipec 2020 offers dubai / WAM industry leaders has seen al - an opportunity for n DMCC’s office in most 20,000 participants DMCC – the world’s flagship Free registering for the online global industry Zone and Government of Dubai Shenzhen will provide event. Adipec 2020 offers an leaders to assess the Authority on commodities trade advisory and consulting opportunity for global indus - emerging landscape and enterprise – on Monday an - services in a common try leaders to assess the of oil and gas sector nounced the official opening of a language, a convenient emerging landscape of the oil representative office in Shen - and gas sector in the wake of in the wake of the zhen, China, that is expected to time zone and provide a Covid-19 pandemic. Covid-19 pandemic usher in a new wave of business host of services such Oragnisers say Adipec opportunities to Dubai. as witnessing signature 2020 will focus on the strate - The office setup is in partner - gies that will lead to long- n The gathering of oil ship with Yingtian Global – an and verifying documents term success – considering and gas industry award-winning Corporate Serv - the long-term impact of the leaders has seen ice Provider that has supported n The office will enable crisis on the global economy, over 300 Chinese businesses supply and demand for en - almost 20,000 expand in the Mena region. DMCC to identify ergy, and the implications participants Having a physical presence DMCC’s representative office in Shenzhen, China will allow us to work closer with the Chinese business opportunities, Covid has had on the global registering for the will bring DMCC to the doorstep business community and unlock a host of opportunities connect with potential energy transition. of Chinese businesses and offer Adipec’s Strategic Confer - online event a simpler route to the company partners and attract ence will focus on how the set up process in Dubai without China has always been an important market for Dubai and businesses to Dubai energy sector is responding energy industry to navigate the requirement to travel. The and adapting to the Covid- this complex time. office will provide advisory and DMCC, and we have played a main role in developing the 19 pandemic against a back - Dr Sultan bin Ahmed Al consulting services in a common bilateral trade relations over the years. Sitting at the crossroads "The opening of this represen - drop of rapidly increasing Jaber, Minister of Industry language, a convenient time of the world, DMCC is eager to support Chinese businesses tative office will allow us to work pressure to become more and Advanced Technology zone and provide a host of serv - establish a foothold in the Middle East and beyond closer with the Chinese business sustainable. and Group CEO of the Abu ices such as witnessing signature community and unlock a host of With the shift to a low Dhabi National Oil Company and verifying documents. Ahmad Hamza, Executive Director – Free Zone, DMCC opportunities. It will also further carbon world driven by in - (Adnoc) delivered the open - The opening of a representa - the longstanding commercial re - creasingly motivated societal, ing keynote address, in tive office in Shenzhen, a com - lationship that exists between investor and government which he emphasised the im - mercial and financial centre, during an event in China, under Speaking on the occasion, the UAE and China, and reinforce pressures, the need for the hy - portance of the oil and gas in - will enable DMCC to identify the theme ‘Expand your business Ahmad Hamza, Executive Direc - our support to both the Dubai drocarbon sector to transform dustry in enabling economic business opportunities, connect in Dubai and beyond’. Underlin - tor – Free Zone, DMCC, said, Silk Road strategy and the One is paramount. development in the post- with potential partners and at - ing its position as a commercial "China has always been an im - Belt One Road Initiative and the Against this background, Covid recovery by ensuring a tract businesses to Dubai hub and gateway for global trade, portant market for Dubai and mutual business potential they Adipec 2020, albeit virtual, steady and reliable supply of through a faster and more effi - DMCC briefed attendees on the DMCC, and we have played a will bring." will play an important role in energy to power growth. cient process. DMCC has also ease of setting up a business main role in developing the bi - China remains Dubai’s largest developing the thought-lead - developed a dedicated Chinese within its Free Zone. The discus - lateral trade relations over the trading partner with AED 66.4 ership, direction and strate - nFor full story, read website for the representative sion also highlighted Dubai’s ap - years. Sitting at the crossroads billion worth of trade in the first gies that will inform the emirates-business.ae office which offers fast access of peal to international businesses of the world, DMCC is eager to half of 2020. all full information to help Chi - as a platform for expansion given support Chinese businesses es - nese companies set up in DMCC. its strategic location and global tablish a foothold in the Middle nFor full story, read The announcement was made connectivity. East and beyond. emirates-business.ae Abu Dhabi Public Health Enoc launches containerised fuel Virtual Forum launched abu dhabi / WAM perts from government and private entites from Abu Dhabi. Abu Dhabi Public Health Cen - The webinars - three sessions tanks for firms, commercial sites tre launched the Abu Dhabi in November and two in De - Public Health Virtual Forum. cember - will cover several pub - The move will reduce transportation cost, requires minimum The forum will feature a se - lic health topics such as mental ries of public health aware - health, family and school health, installation, and helps in improving and expanding operations ness webinars aimed at all how to prevent childhood in - segments of the community juries, health care and telemed - UAE oil reserves dubai / WAM and age groups; including Abu icine for the elderly and those Dhabi government employees, suffering from chronic diseases, reach 97.8bn Enoc Group launched con - as well as local, federal and duties of public health ambassa - tainerised fuel storage tanks to private entities. dors, public health initiatives, barrels in 2019 meet the large-scale refuelling The webinars will broadcast and how to promote healthy abu dhabi / WAM requirements for companies in on the virtual platform Zoom, lifestyles in the community. the construction, mining and with a group of specialists from The UAE’s overall crude transportation sectors. Abu Dhabi Public Health Cen - nFor full story, read oil reserves reached 97.8 With a capacity to carry up to tre hosting the sessions and ex - emirates-business.ae billion barrels in 2019, ac - 41,000 litres of all fuel types in - cording to figures re - cluding Diesel 10ppm, leased by the Federal Biodiesel5, Gasoline Special 95, Competitiveness and Sta - and Gasoline Super 98, the tistics Authority (FCSA). tanks can be installed at cus - Final phase of ‘Al Yasmeen The figures showed that tomers premises, which re - The upgraded self-bunded communities, which has seen a the country's production duces transportation cost, huge success among customers neighbourhood’ unveiled of crude oil stood at 3.058 requires minimum installation, containerised fuel tanks in Arabian Ranches." million barrels per day and helps in improving and ex - are built with the tanks "We are now introducing a Sharjah / WAM (bpd) during the same panding operations in the long held inside to protect similar concept which is more period. run. cost-effective, environmentally Sharjah's Al Zahia project has FCSA also reported that These are above the ground against fuel leaks and friendly, and safer to use by announced another step to - natural gas production in tanks, enabling easy access for spillages for the safety of companies and fleet operators," wards its scheduled 2023 com - the UAE reached 109.8 inspection, maintenance and operators and the he added. pletion with the launch of the billion cubic feet in 2019. cleaning. They come in two ca - The new containerised tanks final phase of the Al Yasmeen The country's overall pacities of 25,000 litres and surrounding environments can be easily transported from neighbourhood. refining capacity reached 41,000 litres. one site to another and have the "The release of the final 1.127 bpd in 2019, includ - The upgraded self-bunded possibility of being installed in phase of homes at Al Yasmeen ing 817,000 bpd at Al containerised fuel tanks are offering our customers the op - areas that are usually hard to in Al Zahia is a welcome sign of phase of sales to close in record Ruwais Refinery and built with the tanks held inside tion to have a dedicated refu - access. They come with a tank buyer confidence given the time." 85,000 at Abu Dhabi Re - to protect against fuel leaks and elling offering installed at their gauge that helps keep track of challenges faced by the market Al Zahia is part of the strate - finery (previously called spillages for the safety of oper - premises," said Saif Humaid Al the fuel level, a lockable filling this year. With increasing de - gic partnership between Majid Umm Al Nar). Jebel Ali ators and the surrounding Falasi, Group CEO, Enoc. "We point to prevent fuel theft, a fuel mand for the latest launch of Al Al Futtaim Properties and and Fujairah refineries environments. previously launched a compact inspection hatch for ease of ac - Yasmeen’s homes," said Shadi Sharjah Asset Management. On processed 140,000 and "The new containerised fuel station, a relocatable station that cess to the tank and a warning Al Azzeh, Al Zahia Projects completion, the entire Al Zahia 85,000 bpd respectively. tanks have allowed us to rede - can be installed and dismantled system in the event of sudden Head at Majid Al Futtaim Prop - development will include a fine our approach to business, within 30 days in residential drops in fuel levels. erties. "We expect this latest total of 3,700 homes. Abu Dhabi’s Hudayriyat leisure district to open today It offers a wide array of F&B outlets, facilities for sports activities , and other entertainment and leisure offerings

abu dhabi / WAM course racing and endurance Bringing together unique cultural and lifestyle experiences fitness with the latest in tech - Modon Properties announced that truly celebrates Abu Dhabi’s rich diversity, we look nology to create an innovative the opening of Hudayriyat new fitness challenge. Leisure and Entertainment Dis - forward to welcoming visitors to showcase the variety of Promoting walking, jogging trict on Tuesday. The destina - offerings that will appeal to visitors of all types and cycling as the preferred tion is set to offer a wide array mode of transport, the Cycling of food and beverage outlets, fa - Ahmed Al Shaikh Al Zaabi, Associate Director, Delivery of Modon Track, as well as wide and well- cilities for sports activities, and shaded footpaths offers visitors other entertainment and leisure a stretch 5-10 km of tracks offerings. periences that truly celebrates football pitch, tennis, basketball across the Island. The Bike Park According to the precaution - Abu Dhabi’s rich diversity, we and badminton courts. In addi - also offers visitors a chance to ary measures in place for Covid- look forward to welcoming vis - tion, visitors will also have ac - enjoy cycling on three different 19, visitors are required to itors to showcase the variety of cess to Hudayriyat Courts, trails, each of which are de - pre-book in advance to enter. offerings that will appeal to vis - which feature a variety of courts signed for beginners, intermedi - Ahmed Al Shaikh Al Zaabi, As - itors of all types." for all sports enthusiasts. Built ate and advanced cyclists. sociate Director, Delivery of Open 7 days a week, the des - following international specifi - Open seven days a week, Hudayriyat Leisure and Entertainment District offers a multitude of Visitors can enjoy the recre - Modon, said, "We are delighted tination offers a multitude of ex - cations and standards, the area experiences and a host of fitness and sports activities. 321 Sports features sports fields, ational exercise at the 300m to launch our exciting new periences and a host of fitness features a range of courts and jogging tracks, and a range of indoor fitness facilities —WAM Floating Track or one of the Bike sports, leisure and entertain - and sports activities. 321 Sports sports fields. Park’s three, five or 10 km cycle ment offering on Hudayriyat is - features sports fields, jogging Circuit X is Abu Dhabi’s adventure park features four ex - also have the opportunity to ex - paths, shaded rest areas, cycling land, which is a solid new tracks, and a range of indoor fit - newest outdoor adventure hub, hilarating offerings including a perience obstacle courses at paths, and a jogging track. addition to Abu Dhabi’s tourism ness facilities. Visitors will be offering thrilling, fun and chal - BMX Track, Splash Park, High OCR Park, the UAE’s biggest portfolio. Bringing together able to enjoy a diverse array of lenging experiences for people Rope Park and a Skate Park. permanent obstacle course site. nFor full story, read unique cultural and lifestyle ex - amenities, including a full-size of all ages. This one-of-a-kind Children and adults alike will OCR Park will merge obstacle emirates-business.ae tuesDAY 10 NOVeMber 2020 energy 03 Canada’s Enbridge joins Shell, BP with 2050 emissions goal BloomBerg outlined. It follows similar or the ones stemming from the tougher pledges by Royal Enbridge established an interim target of reducing the combustion of fossil fuels by Enbridge Inc became the Dutch Shell Plc, BP Plc, Total intensity of greenhouse-gas emissions from its operations cars, airplanes, homes and largest company in the North SE and Repsol SA, while top factories. For now, the Calgary- American oil industry to set a US producers Exxon Mobil by 35% by 2030, according to environmental, social and based company said it will goal of eliminating all net Corp and Chevron Corp have corporate governance (ESG) targets it outlined address those by helping sup - emissions from its operations made clear they are not fol - pliers and customers to cut by 2050, joining major Euro - lowing suit. emissions in line with the rec - pean producers in providing “It’s a very public demon - in an interview. such as methane. ommendations of the United climate-conscious investors stration of our level of com - The oil and gas industry, Those investors include Al - Nations’ Intergovernmental with a plan to tackle global mitment to making progress which has long been the target lianceBernstein Holding LP Panel on Climate Change. warming. on these important criteria of environmental groups, is and California State Teachers’ The Canadian company with The pipeline giant also es - from its operations by 35% and issues that matter to soci - under increasing pressure Retirement System. a vast pipeline network in the tablished an interim target by 2030, according to environ - ety and to our stakeholders,” from shareholders managing Enbridge’s plan doesn’t in - US has invested in several of reducing the intensity mental, social and corporate Peter Sheffield, Enbridge’s trillions of dollars to address clude a net-zero target for so- wind and solar energy proj - of greenhouse-gas emissions governance, or ESG, targets it chief sustainability officer, said greenhouse-gas emissions called scope 3 emissions — ects over the years.

the gulf time the gulf time the gulf time the gulf time Date: 10-11-2020 Date: 10-11-2020 Date: 10-11-2020 Date: 10-11-2020

Government of ras aL KHaimaH Government of ras aL KHaimaH Government of ras aL KHaimaH Government of ras aL KHaimaH Courts Department Courts Department Courts Department Courts Department notarial Legal notice notarial Legal notice notarial Legal notice notarial Legal notice (18929/2020) (18922/2020) (18923/2020) (18930/2020)

the notifier: the notifier: the notifier: the notifier: FIRST ABU DHABI BANK (PRESENT), FIRST ABU DHABI BANK (PRESENT), FIRST ABU DHABI BANK (PRESENT), FIRST ABU DHABI BANK (PRESENT), NATIONAL ABU DHABI BANK(PREVIOUSLY) NATIONAL ABU DHABI BANK(PREVIOUSLY) NATIONAL ABU DHABI BANK(PREVIOUSLY) NATIONAL ABU DHABI BANK(PREVIOUSLY) the notified Party: the notified Party: the notified Party: the notified Party: ANOOP VENUGOPALAN NAIR VELLIYADIL DIGITAL WORD PRINTING PRESS L L C DIGITAL WORD PRINTING PRESS L L C JOE HAVVARD BRASETH The Notifier would hereby demand you to immediately settle The Notifier would hereby demand you to immediately settle The Notifier would hereby demand you to immediately settle The Notifier would hereby demand you to immediately settle within one (1) week time of the publication date of this notice, within one (1) week time of the publication date of this notice, within one (1) week time of the publication date of this notice, within one (1) week time of the publication date of this notice, the outstanding amount of aeD (16,680.00) .being payable from the outstanding amount of aeD (27,780.11) .being payable from the outstanding amount of aeD (41,856.31) .being payable from the outstanding amount of aeD (37,886.15) .being payable from you due to your default on payment of the monthly instalments you due to your default on payment of the monthly instalments you due to your default on payment of the monthly instalments you due to your default on payment of the monthly instalments as agreed with the notifying bank under the Car Loan as agreed with the notifying bank under the Car Loan as agreed with the notifying bank under the Car Loan as agreed with the notifying bank under the Car Loan Agreement to finance the purchase of the subject vehicle No: Agreement to finance the purchase of the subject vehicle No: Agreement to finance the purchase of the subject vehicle No: Agreement to finance the purchase of the subject vehicle (65261/ 13/ private / abu DHabi )- type :( cHevroLet cruZe - (13652/ 2/ private / sHarJaH )- type :( toYota Yaris - saLoon)– (20471/ 1/ private / sHarJaH )- type :( nissan PatHfinDer - No: (75586/ 15/ private / abu DHabi )- type :( maZDa cx9 - HatcHbacK )– colour( bLacK )– model : (2014) . colour( GreY )– model : (2015) . station )– colour( reD )– model : (2015) . station )– colour( WHite )– model : (2012) . Failure to pay the above amount within the said notice period Failure to pay the above amount within the said notice period Failure to pay the above amount within the said notice period Failure to pay the above amount within the said notice period shall lead the Notifier Bank to take all the execution procedures shall lead the Notifier Bank to take all the execution procedures shall lead the Notifier Bank to take all the execution procedures shall lead the Notifier Bank to take all the execution procedures against the aforementioned vehicle, while preserving all other against the aforementioned vehicle, while preserving all other against the aforementioned vehicle, while preserving all other against the aforementioned vehicle, while preserving all other legal rights of the Notifier, whatsoever. legal rights of the Notifier, whatsoever. legal rights of the Notifier, whatsoever. legal rights of the Notifier, whatsoever. notary Public notary Public notary Public notary Public

the gulf time the gulf time the gulf time the gulf time Date: 10-11-2020 Date: 10-11-2020 Date: 10-11-2020 Date: 10-11-2020

Government of ras aL KHaimaH Government of ras aL KHaimaH Government of ras aL KHaimaH Government of ras aL KHaimaH Courts Department Courts Department Courts Department Courts Department notarial Legal notice notarial Legal notice notarial Legal notice (18933/2020) (18924/2020) (18925/2020) notification of a case management the notifier: the notifier: the notifier: Hearing Date by publication FIRST ABU DHABI BANK (PRESENT), FIRST ABU DHABI BANK (PRESENT), FIRST ABU DHABI BANK (PRESENT), case no. 617/2020 - commercial – Partial NATIONAL ABU DHABI BANK(PREVIOUSLY) NATIONAL ABU DHABI BANK(PREVIOUSLY) NATIONAL ABU DHABI BANK(PREVIOUSLY) the notified Party: the notified Party: the notified Party: At the request of the plaintiff: sinDbaD rent a car LLc RYANN ROY BELIBER BARACENA TIME SQUARE HOTEL VINORATHEESH NAGARAJ NAGARAJ Nationality:

The Notifier would hereby demand you to immediately settle The Notifier would hereby demand you to immediately settle The Notifier would hereby demand you to immediately settle To the defendant: Qasim raZa iftiKHar Hussain ZaHiD within one (1) week time of the publication date of this notice, within one (1) week time of the publication date of this notice, within one (1) week time of the publication date of this notice, the outstanding amount of aeD (58,187.79) .being payable from the outstanding amount of aeD (197,465.84) .being payable from the outstanding amount of aeD (115,163.22) .being payable from Nationality: Pakistan you due to your default on payment of the monthly instalments you due to your default on payment of the monthly instalments you due to your default on payment of the monthly instalments as agreed with the notifying bank under the Car Loan as agreed with the notifying bank under the Car Loan as agreed with the notifying bank under the Car Loan You are required to appear before RAK Court of First Instance in Agreement to finance the purchase of the subject vehicle No: Agreement to finance the purchase of the subject vehicle No: Agreement to finance the purchase of the subject vehicle No: person or by an authorized representative on your behalf on (28411/ 17/ private / abu DHabi )- type :( mitsubisHi asx - (39237/ Q/ private / Dubai )- type :( sunWin sWb6 - bus )– (16390/ 16/ private / abu DHabi )- type :( HonDa accorD - station )– colour( GreY )– model : (2017) . colour( WHite )– model : (2015) . saLoon )– colour( GreY )– model : (2016) . Monday 16/11/2020 at 9:00 O'clock, in order to reply to the case and to submit the data and defenses you have. In case you Failure to pay the above amount within the said notice period Failure to pay the above amount within the said notice period Failure to pay the above amount within the said notice period default to attend or delegate a representative on time, the court shall lead the Notifier Bank to take all the execution procedures shall lead the Notifier Bank to take all the execution procedures shall lead the Notifier Bank to take all the execution procedures will initiate the hearing in absentia. against the aforementioned vehicle, while preserving all other against the aforementioned vehicle, while preserving all other against the aforementioned vehicle, while preserving all other legal rights of the Notifier, whatsoever. legal rights of the Notifier, whatsoever. legal rights of the Notifier, whatsoever. Director of case management office notary Public notary Public notary Public mohamed sameh mohamed al Hanfi

the gulf time the gulf time the gulf time the gulf time Date: 10-11-2020 Date: 10-11-2020 Date: 10-11-2020 Date: 10-11-2020

Government of Dubai Government of Dubai Government of Dubai Government of Dubai Dubai courts Dubai courts Dubai courts Dubai courts Legal notice by publication Legal notice by publication Legal notice by publication Legal notice by publication number 6358/2020 number 6363/2020 number 6360/2020 number 6365/2020

summoner: Ahmed Matar Al Mheiri Advocate & Legal consultant summoner: Ahmed Matar Al Mheiri Advocate & Legal consultant summoner: Ahmed Matar Al Mheiri Advocate & Legal consultant summoner: Ahmed Matar Al Mheiri Advocate & Legal consultant

SOBHA Sapphire Building, 4th Floor, Unit 404, Al Khaleej Al Tejari 2 Street, SOBHA Sapphire Building, 4th Floor, Unit 404, Al Khaleej Al Tejari 2 Street, SOBHA Sapphire Building, 4th Floor, Unit 404, Al Khaleej Al Tejari 2 Street, SOBHA Sapphire Building, 4th Floor, Unit 404, Al Khaleej Al Tejari 2 Street, Business Business Bay, Dubai - UAE Business Bay, Dubai - UAE Business Bay, Dubai - UAE Bay, Dubai - UAE In its capacity as the legal representative of Gazprom bank (switzerland) Ltd In its capacity as the legal representative of Gazprombank (switzerland) Ltd In its capacity as the legal representative of Gazprombank (switzerland) Ltd In its capacity as the legal representative of Gazprombank (switzerland) Ltd summoned: Messrs. Blue Shield Trading LLC summoned: Messrs. Cameron Commodities FZC summoned: Messrs. STC Global Trade FZE summoned: Messrs. Afro Asian Global Trade FZE (Residence unknown) (Residence unknown) (Residence unknown) (Residence unknown) Summoner is notifying the Summoned by virtue of this Notice to pay the Summoner is notifying the Summoned by virtue of this Notice to pay the Summoner is notifying the Summoned by virtue of this Notice to pay the Summoner is notifying the Summoned by virtue of this Notice to pay the assigned receivables due to GazpromBank (Switzerland) Ltd in the Pledge and assigned receivables due to GazpromBank (Switzerland) Ltd in the Pledge assigned receivables due to Gazprombank (Switzerland) Ltd in the Pledge Assignment Agreement, the following amounts: assigned receivables due to GazpromBank in the Pledge and Assignment and Assignment Agreement, the following amounts: Agreement, the following amounts: and Assignment Agreement, the following amounts: - The sum of usD 2,957,411.67 (Two Million Nine Hundred Fifty-Seven Thousand - The sum of usD 6,574,645.03 (Six Million Five Hundred Seventy-Four Thousand - The sum of usD 5,451,206.19 (Five Million Four Hundred Fifty-One Thousand Four Hundred Eleven US Dollar and Sixty-Seven Cent), due on 18/03/2020 - The sum of usD 4,137,709.72 (Four Million One Hundred Thirty-Seven Thousand Two Hundred and Six US Dollar and Nineteenth cent), due on 17/06/2020 Seven Hundred and Nine US Dollar Seventy-Two Cent), due on 18/03/2020 Six Hundred Forty-Five US Dollar and Three tenth of a cent), due on under contract number S19-25-0350-RUGS-0207 signed on 02/08/2019. 24/03/2020 under contract number S19-25-0350-RUGS-0250 signed on under contract number S19-25-0350-RUGS-0428 signed on 08/11/2019. - The sum of usD 11,901,865.92 (Eleven Million Nine Hundred and One Thousand under contract number S19-25-0350-RUGS-0211 signed on 05/08/2019. - The sum of usD 3,240,000 (Three Million Two Hundred Forty Thousand US Eight Hundred Sixty-Five US Dollar Ninety-Two Cent), due on 21/03/2020 under - The sum of usD 3,246,759.62 (Three Million Two Hundred Forty-Six Thousand 10/09/2019. - The sum of usD 3,644,460 (Three Million Six Hundred Forty-Four Thousand Four Dollar) due on 17/08/2020 under contract S20-25-0350-ARGS-0017 signed contract S19-25-0350-RUGS-0220 signed on 07/08/2019. Seven Hundred Fifty-Nine US Dollar Sixty-Two Cent), due on 25/03/2020 on 08/01/2020. - The sum of usD 2,167,264.80 (Two Million One Hundred Sixty-Seven Thousand under contract S19-25-0350-RUGS-0255 signed on 11/09/2019. Hundred Sixty US Dollar) due on 17/03/2020 under contract S19-25-0350- RUGS- 0204 signed on 01/08/2019. - The sum of usD 4,800,000 (Four Million Eight Hundred Thousand US Dollar) due Two Hundred Sixty-Four US Dollar Eighty Cent), due on 25/03/2020 under on 17/08/2020 under contract S20-25-0350-ARGS-0017 signed on 08/01/2020. contract S19-25-0350-RUGS-0252A signed on 10/09/2019. failure of making payment within seven days of this notice's service date, Gazprombank will initiate further appropriate legal actions to collect the failure of making payment within seven days of this notice's service date, failure of making payment within seven days of this notice's service date, failure of making payment within seven days of this notice's service date, Gazprombank will initiate further appropriate legal actions to collect the assigned receivables and seek compensation for damage. Gazprombank will initiate further appropriate legal actions to collect the Gazprombank will initiate further appropriate legal actions to collect the assigned receivables and seek compensation for damage. assigned receivables and seek compensation for damage. assigned receivables and seek compensation for damage.

the gulf time the gulf time the gulf time the gulf time Date: 10-11-2020 Date:10-11-2020 Date:10-11-2020 Date:10-11-2020 Date of Notification: 08-11-2020 Date of Announcement: 09/11/2020 Notification Date: 08/11/2020 Notification number: 172517/ 2020 Date: 08/11/2020 Announcement No.: 173352/2020 Notification No. : 22945/2020 Government of Dubai Government of ras aL KHaimaH Government of Dubai Dubai courts uniteD arab emirates Dubai courts Dubai first instance commercial court ministrY of Justice courts Department Publication of notice courts Department - experts management office announcement by Publishing notification by Publication in case no. 20/ 2019/ 1164 commercial, full in the Lawsuit no. 11/2020/1869 Partial civil in Lawsuit no. 322/2020/664 real estate appeal summon by Publication to attend before accounting expert subject of the case: case no. 2020/3781 - criminal ras al Khaimah courts subject matter of the lawsuit : A claim for ordering the Defendants to pay A lawsuit for invalidity and dissolution of the agreement to buy and sell the subject matter of Lawsuit: an amount of (AED 480,754.98), together with the fees, expenses, attorney’s business company dated 11/7/2017, and nullity and termination of the share Plaintiff : / Jack sasin Khoueiri fees and the legal interest by 9% from the date of maturity as of 19/07/2020 sale contract, And inserting a partner and an appendix to amend the founding Appeal of the judgment issued in Lawsuit No. 145/2020 Real Estate contract dated 12/7/2017, with the defendants obliged to be in solidarity and First Defendant/ anooP raveenDran sobHa raveenDran until full payment. Partial , in addition to fees, expenses and advocates' fees. to refund AED 1,402,500 and the legal interest of it at 12% annually as of the Second Defendant / PramoD JoY matHai JoY applicant for announcement : American Hospital Dubai LLC. date of the judicial claim until the Full payment of fees and charges. Notifying Party: Waleed mohamed mohamed Third Defendant / PraDeeP JoY matHai JoY capacity in the case: Plaintiff The notifying party: samir Khalilov In the capacity of : claimant the notified parties: Capacity in the Lawsuit : appellant Fourth Defendant / aHammeD naHeeb moHammeD moHammeD - Heritage technical services LLc In the capacity of: defendant Notified Party: 1- maxim antimrof Capacity in the Lawsuit : appellee You are requested to attend the meeting via Cisco Webex program to to be notified : - Lina Jan about herself and as a partner and a manager in Heritage Technical 1- Adiwali Sapana Adinay capacity in the case: Defendant Services LLC In the capacity of defendant subject matter of the notification: meet with the expert mentioned above and bring all papers and - abdallah Yaqoub mohamed murad almaazm about himself and as a partner The order/judgment issued in lawsuit no. 145/2020 real estate Partial documents support your situation in the case No. 2020/3781 Criminal - Ras subject matter of the announcement: in Heritage Technical Services LLC- with Emirates nationality Al Khaimah Courts on sunday , corresponding to 15/11/2020 at ten o'clock The lawsuit has been initiated against you in order to oblige the In the capacity of: defendant (With unknown place of residence) was appealed, and a hearing was scheduled for the same on monday , Defendants to pay an amount of (AED 480,754.98), together with the fees, subject of notification: in the morning (10:00 am) . expenses, attorney’s fees and the legal interest by 9% from the date of We notify you that the court, in its session held on 28/09/2020 , ruled in the above corresponding to 16/11/2020 , at 10:00 a.m . at the distance litigation Kindly, download Cisco Webex program, in the event you wish to attend maturity as of 19/07/2020 until full payment. Kindly, attend via the visual case in favor of \ Samir Khalilov to accept the omission request in the form, and room, therefore, you should appear either personally or through a legal the meeting via the mobile phone, the name of the application in I phone in the matter to write off the claimants from the records of the first defendant communication program BOTIM before the Second First Instance Lawsuit proxy, and in the event of your failure to attend , your trial will be held and Android store is Webex meet. Department on the phone No.: (0566039232) on Monday, corresponding company as partners in it and indicate this to the Department of Economic to 16/11/2020 from 09:00 A.M. through 12:30 P.M., or the visual attendance Development and obligated the defendants to pay the expenses and a sum in absentia. Expert's room on the program to attend the session: 848088115. through the approved service provision center (Al Adheed) to provide of one thousand dirhams for the attorney fees. your reply to the statement of claim and its attachments. The judgment is made as if in the presence of the defendants and it can be courts of ras al Khaimah appealed within thirty days as of the next day of publishing this notification. case manager expert management office Issued In the Name of His Highness/ Alsheikh Muhammad Ben Rashed Ben Lawsuit manager Saeed Aal Maktoum, The Ruler of Dubai, and read publicly. obaid saeed obaid mohamed al al ari accounting expert, ahmed al-siwi (signed) mohammed Hassan al saroukh [stamped by courts of ras al Khaimah - expert management office] Division Leader /muhammad mubarak Khalfan/

the gulf time the gulf time the gulf time the gulf time Date:10-11-2020 Date:10-11-2020 Date:10-11-2020 Date:10-11-2020 Notice Date: 08-11-2020 date of notice: 4/11/2020 Service No: 169504/2020 Service Date: 04/11/2020 Notice No.: 172893/2020 Notice No: 2020/170553 Service date: 2/11/2020 Service No.: 170629/2020 Government of Dubai Government of Dubai Government of Dubai Government of Dubai Dubai courts Dubai courts Dubai courts Dubai courts execution court Dubai commerciaL court first instance Dubai court of first instance- commercial court service by Publication notice of Publication service of notice by publication service by Publication execution no. 207/2020/6969 commercial execution in case 4369/2020/60 6547/2020/207-commercial execution in case no. 16/2020/3385 commercial- restricted jurisdiction service type: order for Payment service by Publication case subject: Claiming to obligate the Defendant to pay an amount execution subject: Execution of the decision on case no. 2020/2807 to subject matter of the summons: of (AED 34,250.35)as well as fees, expenses and attorney's fees, and Claim to order the defendant to pay sum of Dhs3000000 and legal pay an execution amount of AED 16167, inclusive of fees and expenses. Service Details: interest of 12% as of date of claim until full payment is affected. To Notifier: n.r.t.c Dubai international vegetables & fruits trading (LLc) interest of 9% from the date of the entitlement of the cheque till render an expeditious enforceable judgment without bail. Legal Capacity: execution applicant complete repayment along with court fees. To: Respondent: 1- mechanical Parts LLc, and Plaintiff: mawarid finance Capacity: Plaintiff Represented by Mr. adnan nassar al refai Summons applicant: Hassan abdul raheem Qasim almarzouqi 2-Dahrimindrakishan Gikul Ghandi, in his capacity as a personal Represented by: eissa salem ahmed alharsi almahri Capacity: attorney Capacity in the case: Plaintiff Notified Party: 1- majaj fernaja fernando Capacity: Defendant Notified Party: usama ali Khan asif Khan surety of Mechanical Parts LLC; Of unknown place of residence Legal Capacity: Debtor The party to be summoned: 1- 3- With unknown place of residence; subject of service: Residence: Unknown 2. alinsaf General trading LLc Capacity in the case: Defendant The Plaintiff has filed the Case against you. Its subject is claim for 4. muhsin ahmed Kaiani Capacity in the case: Defendant notice subject: Whereas the Claimant: bank of baroda, obligating the Defendant to pay an amount of AED (34,250.35), fees, Domicile Unknown The aforementioned case lawsuit claim was filed against the Debtor to Has filed the abovementioned execution case against you for expenses, attorney's fees, and legal interest of 12% as of the date of subject matter of the summons: claim until full payment is affected, and to render an expedite pay the Execution Applicant or the court treasury the sum of AED 16167. Under the judgment delivered Has Hassan Abdul Raheem Qasim binding you to pay the execution amount of (AED 6404261.02) to enforceable judgment without bail. Therefore, the court shall initiate executive proceedings against you in Almarzouqi in the above-mentioned case, you are ordered to pay sum the Claimant or the court Treasury. A hearing is set therefor to be held on sunday , corresponding to case of non-compliance with the said decision within 15 days from date of Dhs 3.000.000 within five days as of the date of the publication of this 15/11/2020 at 09:30 am , at the Remote Litigation Hall (BUILDING_DESC&). of publication of this notice. Therefore, the court shall initiate the execution procedures Therefore, you are required to appear in person or by your representative, notice, else the court will take all legal action against you. and submit your relevant memoranda or documents to the Court at least against you in case of your failure to comply with the Head of Division three days prior to the hearing. chief of the Dept. abovementioned decision within 15 days from the date of this Division Head Yacoub mohamed ahmed al Hamadi masood mohammed amin service publication. amna obaid al abbar

the gulf time the gulf time the gulf time the gulf time Date:10-11-2020 Date:10-11-2020 Date:10-11-2020 Date:10-11-2020 Service Date: 05/11/2020 No. 149588/1/2020 Date: 03/11/2020 Date: 05/11/2020 Service No.: 171618/2020 No: 2020/170188 No: 2020/171466 Government of Dubai Government of Dubai Government of Dubai Dubai courts Government of Dubai Dubai courts Dubai courts notarial notice by Publication Dubai courts notification of Payment by publication Dubai court of first instance- commercial court no. (5992/2020) notification of a confisication report by publication service by Publication in case no 1548/2020 commercial — Plenary nationaL banK of fuJairaH — Dubai brancH notifying Party in execution no. 4183/2020 commercial execution in case no. 16/2020/3634 commercial- restricted jurisdiction against 1) Pan fresH internationaL GeneraL traDinG LLc 1st notified Party Notification Details 2) aLi moHammaD abDuL KHaLeQ arJomanDi 2nd notified Party Notification Details To the defendants (losing parties): case subject: Claiming to obligate the Defendant to pay an amount rd 3) moHammaD reZa aLi moHammaD arJomanDi 3 notified Party 1- sagsons LLc, 2 — Dubai investments Park Development company LLc of (AED 96,874.25)as well as fees, expenses and attorney's fees, and On 04 October, 2018, the Notifying Bank concluded with PAN FRESH INTERNATIONAL To the respondents (Executed against): ST Unknown Address interest of 12% as of date of claim until full payment is affected. To GENERAL TRADING LLC (1 Notified Party) the Banking Facilities Agreement, Ref. 1- asHoK sHeWaKramani LaHrumaL sHeWaKramani render an expeditious enforceable judgment without bail. DU/FL/1638 whereupon PAN FRESH INTERNATIONAL GENERAL TRADING LLC received loans Whereas the plaintiff (prevailing Party): national bank of fujairah (Dubai branch) from the Notifying Bank. As a guarantee for debt repayment _subject matter of the said Plaintiff: mawarid finance Capacity: Plaintiff facilities_, the 2 nd Notified Party concluded two first-ranking mortgage contracts with the Unknown Address Represented by: ali ismail ibrahim al Jarman Represented by: eissa salem ahmed alharsi almahri Capacity: attorney Notifying Bank thereunder the 2 nd Notified Party mortgaged to the Notifying Bank the Whereas the claimant (Executed for): national bank of Kindly be informed that the court passed a judgment in its session dated Notified Party: 1- rahmath ali mohammad Khaja Capacity: Defendant following two premises; first Premises: Plot # 749, Wadi Al Safa 5, Dubai for an amount of 23/09/2020 in the above-mentioned case in favor of\ National Bank of Of unknown place of residence AED 3,800000 (Three Million Eight Hundred Thousand), and such mortgage was registered fujairah (Dubai branch) subject of service: at Dubai Land Department as established in its title deed, second Premises: Plot # 748, Fujairah (Dubai Branch) in presence: Wadi Al Safa 5, Dubai for an amount of AED 3,800,000 (Three Million Eight Hundred Represented by: ali ismail ibrahim al Jarman first: validity and force of the contract titled “Assignment of Lease The Plaintiff has filed the Case against you. Its subject is claim for Thousand), and such mortgage was registered at Dubai Land Department as established obligating the Defendant to pay an amount of AED (96,874.25), fees, in its title deed. Further and as a guarantee for debt repayment_ subject matter of the Kindly be informed that your funds which are shares listed in Agreement” concluded by and between the plaintiff and the first expenses, attorney's fees, and legal interest of 12% as of the date of said facilities_, the 3 rd Notified Party concluded a first-ranking mortgage contract with the defendant. claim until full payment is affected, and to render an expedite Notifying Bank thereunder the 3 rd Notified Party mortgaged to the Notifying Bank the Dubai Financial Market (Emaar Properties-number of shares: following premises: Plot # 1224, Wadi Al Safa 6,, Dubai for an amount of AED 5,300,000 second: obligating the second defendant to transfer the lease enforceable judgment without bail. (Five Million Three Hundred Thousand), and such mortgage was registered at Dubai Land 23) have been confsicated in consideration of the claimed agreement signed between it and the first defendant. A hearing is set therefor to be held on sunday , corresponding to Department as established in its title deed. For these reasons, the Notifying Party hereby A judgment as if in presence, subject to appeal within thirty days as from 15/11/2020 at 09:30 am , at the Remote Litigation Hall (BUILDING_DESC&). notifies the Notified Parties for repayment of the amount indebted to the Notifying Party amount in the above-mentioned file. This is for your Therefore, you are required to appear in person or by your representative, for the banking facilities granted to the 1 st Notified Party amounting, as of 08/06/2020, AED the next day of publishing this notification. 17,595,226.51 (Seventeen Million Five Hundred Ninety Five Thousand Two Hundred Twenty information and to be legally enforceable. Issued in the name of His Highness Sheikh Mohammed bin Rashid bin and submit your relevant memoranda or documents to the Court at least Six Dirhams Fifty One Fils) guaranteed by the mortgage contracts dated 12 December, three days prior to the hearing. 2017 within a maximum thirty days as from the date of this notice and such shall be subject Best Regards, Saeed Al Maktoum, ruler of Dubai, and publicly read. to liability of expropriation of the mortgaged premises to be sold by public auction Best Regards, Division Head pursuant to Mortgage Law No. (14) of 2008 of the Emirate of Dubai. amna obaid al abbar Head of Department notary Public //signed and sealed- 21-10-2020/ Head of Department tuesday 10 NOVeMBeR 2020 04 OPINION The gulf Time For a strong start, Biden Chairman of ThE board needs a smooth transition Saeed Saif Many expect the 2020 presidential transition to be a repeat of 2016 Tel: 02-4468000, Fax: 02-4485401 rather than 2008. That would be, indeed, unfortunate for America Website: www.emirates-business.ae Email: [email protected], [email protected], [email protected] Printed at: al Wathba Printing Press

How hydrogen is and MohaMed a el-erian resident-elect Joe Biden is preparing to isn’t future of energy Plead the US at an in - creasingly troubling time. urely hydrogen is the future of energy. Why else would the European Americans face a host of Union, as part of its Green Deal, plan to shovel $550 billion into infra - challenges, from surging Sstructure to electrolyse and use the stuff? Why else would China, Japan Covid-19 infections and and South Korea be placing their own huge bets on the gas? slowing economic growth to The enthusiasm about hydrogen has a simple reason: Whether it’s used worsening inequality and in a fuel cell or burned to create heat, the only “exhaust” it emits is inno - deep political and social di - cently clean water. Therefore, wherever hydrogen replaces fossil fuels, it visions. The Biden adminis - Supporters of US President-elect Joe Biden gathered to watch him give a speech at the Chase Center after defeating helps slow global warming. That explains the worldwide race to dominate tration will be under incumbent President Donald Trump to become the USA 46th president in Wilmington on November 07 —DPA the various niches of a market projected by some banks to be worth trillions pressure from Day One and of dollars by 2050. would have a better chance one of the many challenges Then again, perhaps this is just the latest of several hydrogen bubbles, at getting off to a strong he must deal with quickly. US President-elect Joe Biden made it clear in his destined to pop like all the others. A first one, inflated by a seminal essay start if it were afforded a Even before any new re - victory speech that he is wasting no time in getting from 1970, ballooned the following decade before going pfft in the 1980s. newed Covid-19 restric - A second expanded and popped along with the tech bubble around 2000. tions, US economic data has ready for the White House, especially when it comes Maybe hydrogen is the future … and always will be. Having united the continued to point to a de - to containing the coronavirus pandemic It certainly has daunting disadvantages. Yes, it’s the most common ele - Democratic party, celeration. The inequality ment in the universe. But it doesn’t appear in its pure form on earth. So it US President-elect trifecta — of income, wealth must be separated by running an electric current through water to split the Joe Biden has work to and opportunity — is also hind him in the collective The experience eight oxygen and hydrogen atoms apart. That takes energy, which better be worsening, adding to social fight against Covid-19 or years later was less encour - “green” — that is, captured from the sun, wind or other renewables. Other - do in dealing with a tensions and an erosion risk the loss of more lives, aging. While both the wise, what’s the point? likely divided Congress in the country’s longer-term greater disruptions to liveli - Obama administration and This process makes green hydrogen expensive relative to both fossil fuels and bringing together growth and prosperity hoods, and longer-term eco - the incoming Trump admin - like natural gas and hydrogen captured in less clean ways. BloombergNEF, the American people potential. And the Congres - nomic, institutional and istration blamed each other our parent company’s energy institute, reckons that technological improve - sional elections have done social scarring. for the messy 2016 transi - ments will rapidly make it cheaper in the coming years. But even then, it’s as a whole little to overcome deep Biden’s ability to do tion, their interaction was still hard to transport and store. Unless combined with other chemicals, it political divisions that these things depends in not conducive to a smooth must be compressed to 700 times atmospheric pressure or refrigerated to smooth transition. Biden were aggravated by the re - part on how well the trans - transfer of power. And there minus 253 degrees Celsius. Hydrogen also likes to explode. and his team will need to be cent disagreements over fer of power takes place in was little appetite for any These drawbacks all but disqualify hydrogen from the application that able to take quick actions, the nomination and ap - the next few weeks. The carryover in officials, even currently gets the most hype: as a fuel to power cars, vans and trucks. On and it would greatly help proval of a new Supreme experience of the last two for the very short term. For - almost every count, vehicles powered by hydrogen fuel cells lose against if they were taken with as Court justice. transitions points both tunately, there was less at their “clean-energy” rivals, electric cars running on batteries. full an information set as Having united the Demo - to the opportunities and stake then, with the econ - For a start, the hydrogen cars are only half as efficient. If an electric car possible. cratic party, President-elect challenges. omy on the mend and the converts 86% of the energy originally harnessed by a wind turbine into Biden made it clear in his Biden now has work to do in In November 2008, Presi - pandemic only a hypotheti - moving the vehicle forward, the hydrogen car has access to only about 45%. victory speech that he is dealing with a likely divided dent-elect Barack Obama cal (a remote or tail event). A car with a fuel cell also has more moving parts and is more expensive wasting no time in getting Congress and bringing to - benefited from the coopera - Not so today. to maintain than one with a battery. And, unlike the battery car, it can’t be ready for the White House, gether the American people tion of the Bush administra - Many expect the 2020 “reloaded” at home. especially when it comes to as a whole. His Congres - tion as he prepared to take presidential transition to be This is bad news especially for Toyota Motor Corp, Hyundai Motor Co and containing the pandemic. sional challenge involves over in the middle of the a repeat of 2016 rather Honda Motor Co Ltd, the carmakers that are placing the biggest bets on hy - He planned to appoint a quickly securing the support global financial crisis. With - than 2008. That would be drogen in transportation. The case for hydrogen trucks is also weak. 12-member task force that of enough lawmakers to out the intense briefings unfortunate for America, Michael Liebreich, BloombergNEF’s founder, reckons hydrogen doesn’t will work to create policies pass a fiscal package that that took place with then- with significant potential even make sense for trains. It would merely eliminate the need to electrify for dealing with Covid-19 goes beyond the important current White House staff, it consequences in terms of the track, while locking in a more complex and less efficient solution. It’s that could start as soon as he objective of helping with would have been very hard lives and livelihoods. It is only in long-haul aviation or oceanic shipping where hydrogen might beat is sworn in on January 20. Covid-19 relief. It should for the Obama team to also avoidable. electric batteries, thanks to its higher energy density. The batteries to get a He is right to make the pan - also be directed at improv - prepare for the series of do - —Bloomberg plane to the other side of the world would be too big and heavy. demic his first priority. Daily ing the country’s ability to mestic measures and inter - Hydrogen doesn’t work much better in heating residential buildings: It’s coronavirus cases have live with the virus in a national interactions that Mohamed A El-Erian is a Bloomberg usually easier to use green electricity to power heat pumps, which can also surged past 100,000, sug - healthier and economically- proved essential to avoid a Opinion columnist. He is president of be “reversed” for cooling. In most industrial uses for heat, hydrogen also gesting that the US is follow - less disruptive manner, and potentially devastating eco - Queens’ College, Cambridge; chief loses out to electricity. The long-term solution to slow global warming is ing the type of path that has at countering downward nomic depression. economic adviser at Allianz SE, the therefore to electrify everything, as long as that electricity comes from re - forced most of Europe to pressure on longer-term It also allowed the Obama parent company of Pimco where he newable sources. reimpose various forms of productivity and household administration to hold on to served as CEO and co-CIO; and chair of lockdowns in the face of in - economic security. some Bush officials for at Gramercy Fund Management. His —Bloomberg creasingly strained health - Biden also needs to get least a few months to gain books include “The Only Game in care systems. But that’s only enough of the country be - from their expertise. Town” and “When Markets Collide”

other opinion StanChart wants to Virus whips up cold Russian winter Some provinces are running out of beds, doctors and even oxygen

go way beyond WFH Clara Ferreira Marques Kommersant newspaper estimated free beds in the tandard Chartered Plc is strain - Novosibirsk region at just ing every sinew to get ahead of From early next year, Standard oronavirus infections 3% late last month. Sthe changes the pandemic are hitting records Some of this may have might make to people’s work-life Chartered will offer half of its Cagain in Russia, the been unavoidable. Conta - balance. Perhaps it’s trying to take 85,000 staff, who work in nine world’s fifth hardest-hit na - gion is spiking throughout things a little too far. of the 55 countries, the option tion in absolute terms. This Europe amid colder The emerging markets bank says of heading to a “near home” time, the provinces are weather, and rates of infec - it will “push the boundaries” for half bearing the brunt, with tion there are far worse; of its 85,000 staff, who work in nine location, which it will rent from nearly three-quarters of France, hit by a brutal sec - of the 55 countries where it oper - an office-sharing company new cases registered out - ond wave, has overtaken ates. From early next year, it will side of Moscow. Worrying Russia to become the offer those employees the option of reports suggest some areas world’s fourth-most af - heading to a “near home” location, of managing all of these new loca - are running out of beds, fected country, and is re - which it will rent from an office- tions cannot be underestimated. doctors and even oxygen. porting record numbers This file photo shows the Saint Basil’s Cathedral at the deserted Red Square in sharing company. Workers will also Will it work as well for frontline Even going by official even after a fresh nation - Moscow due to the coronavirus pandemic in Russia —DPA have the permanent choice of work - bankers as for back-office staff? And numbers that may under - wide lockdown. ing from home (WFH) more. there’s no mention yet of the impact state the toll, this latest But Russia’s current cri - CEO Bill Winters plans to roll out on cost. True, renting desks from a wave is turning into a seri - The Kremlin delegated the handling of the pandemic sis is also one of capacity a “hub-and-spoke” model for his of - WeWork-type company would be ous test for President and governance, as regions fices that few big companies have cheaper — and more flexible — Vladimir Putin’s adminis - to local authorities ill-equipped for it and the caseload have been left without suf - ever even tested. It’s a good thing than the decades-long leases that tration. The Kremlin dele - is straining a system that has centralised power and ficient fiscal and adminis - StanChart hasn’t committed to any downtown commercial property gated the handling of the resources for much of the past two decades trative means to cope. It firm targets on how many people commands, especially in prime cities pandemic to local authori - doesn’t help that most gov - will work in the new fashion, or for such as London and New York. Co- ties ill-equipped for it and ernors are Kremlin-backed, how many days of the week. Once working spaces offer pay-per-use now the caseload is strain - broadly for longer meant southwest are all worse-hit ushered in for loyalty reality kicks in, it may have to dial models that help keep costs in ing a system that has new case numbers stayed than the capital. Rates of in - rather than experience. back its aspirations. check. This might explain Stan - centralised power and re - high through the summer fection are accelerating in Take Kalmykia, a Those who find WFH too stifling Chart’s eagerness: The bank’s prof - sources for much of the — never too far from 5,000 two-fifths of the country’s drought-stricken area might see the appeal of a satellite of - itability targets are slipping amid the past two decades. At the daily, even at their lowest. 85 regions, with most, like that's one of the country’s fice in their nearest town, and it pandemic recession. same time, Russia’s first ap - The first wave never the republic of Altai , seeing poorest regions. There, might be appropriate in countries However, even it manages to ex - proved Covid-19 vaccine, a went away. It simply built far higher infection rates local deputies wrote to where StanChart has big support tricate itself from existing real-estate public relations coup, has up into a trickier second than in the spring, even ac - Putin in September to com - functions such as Poland, Malaysia, deals in city centres, there’s still the hit production hiccups. round. counting for increased test - plain that their governor, a China and India. Rather than com - question of how much flexibility it Initially, Moscow was the The infections are now ing. For now, most have professional kickboxer who mute into a big city, workers get the wants to offer staff. The more focus of Russia’s outbreak. hitting Russia where it only modest restrictions in was appointed by the option of recreating the community choices it gives on whether people The city has well-equipped, hurts, in often-distant re - place to combat the spread. Kremlin in 2019 and subse - aspects of office life closer to home. on any given day can choose to go world-class hospitals. A gions poorly served by pri - While national data quently elected, was failing It would also help address technol - into the main office, the satellite of - powerful mayor spoke up mary care doctors and showed almost a fifth of to tackle overflowing hos - ogy deficiencies in some places. For fice or work for home, the more ex - quickly and imposed strict modern technical ameni - beds were free, Deputy pitals. The mortality rate example, some banks halted opera - pensive the approach becomes. If local lockdown measures. ties. Adjusting for popula - Prime Minister Tatyana Go - was higher than in the tions in India at the onset of the pan - StanChart cuts back heavily on its That made it easier to jus - tion, official numbers for likova said in a meeting wider surrounding region, demic because employees lacked city-centre offices, that wouldn’t be tify a swift relaxation of re - active cases suggest the with cabinet members at doctors were getting sick basic tools for remote working, in - easy to reverse. strictions in May, and likely Altai Republic in southern the end of October that in and there were too few of cluding laptops. helped Russia’s economy Siberia, the oil-rich district 16 regions more than 90% them, they said. But the organisational challenges —Bloomberg do better than feared. Yet of Yamalo-Nenets in the far of capacity was full, and in failing to clamp down more north and Kalmykia in the 5, it was more than 95%. —Bloomberg tueSday 10 november 2020 asia 05 the adverse impact of india’s Covid-19 lockdown in March continues to haunt, but the hinterland is holding out hope Ant’s stalled IPO Virus-ravaged India bets on may cut its value by half to $140bn farmers to rescue economy BloomBerg China’s move to halt Ant The South Asian nation’s rural incomes have stayed strong as production Group Co’s massive stock debut could reduce the fintech of monsoon-sown food grains is estimated to hit record 144.5 million tons giant’s value by as much as $140 billion, according to an - BloomBerg alysts’ revised estimates. n The Indian government’s New regulations that could India’s economy left cratered by force Ant to raise more capital the pandemic is drawing energy move to raise support to back lending and seek na - from one of its invisible and prices for some crops tional licenses to operate If Ant’s $280bn pre-IPO often-neglected engines: farmers. and boost spending on across the country may reduce valuation is halved, it Business leaders, policy mak - rural employment the firm’s valuation by about ers and politicians alike are pin - half, according to estimates would essentially mean ning hopes on the rural sector programs have also from Morningstar Inc and the company is worth less as bountiful rains have set the supported incomes of other firms. The regulatory than what it was two stage for another year of record farmers and labourers details are preliminary and crops. Higher disposable in - could be subject to change. years ago when it raised comes with farmers are ex - If Ant’s $280 billion pre-IPO money from some of the pected to boost demand from n Demand for everything valuation is halved, it would world’s largest funds automobile to cement to gold from tractors to jewellery essentially mean the company including Warburg Pincus, jewellery. notwithstanding, rural is worth less than what it was That contrasts with the urban two years ago when it raised Silver Lake Management areas, where companies are still India alone may not be money from some of the and Temasek Holdings struggling to boost their sales able to underpin a world’s largest funds includ - following the pandemic that has recovery in the economy ing Warburg Pincus LLC, Silver hit business activities, hurt de - that’s headed for its Lake Management LLC and valuation, if its pre-IPO price- mand and caused labour short - Temasek Holdings Pte. to-book ratio drops to around worst annual contraction age. The adverse impact of the This file photo shows a deserted road along the Chhatrapati Shivaji Terminus during the The reduced valuation also the level of top global banks. world’s strictest lockdown in national lockdown period due to the coronavirus pandemic in Mumbai, India —DPA on record, according to means potentially lower fees That means its valuation March continues to haunt, but top officials and analysts for investment banks like could be slashed by about the hinterland is holding out on rural employment programs China International Capital $140 billion. Currently Ant’s hope. India’s business leaders, have also supported incomes of Corp that were counting on a stock price is valued at 4.4 Maruti Suzuki India Ltd and policy makers and politicians farmers and labourers. managing director of the com - windfall from Ant’s record- times of its book value, versus the local unit of South Korea’s “Despite Covid-19 and the re - pany, which sells its products setting IPO. And it gives bil - 2 times at those banks, she Hyundai Motor Co, the two alike are pinning hopes on lated lockdown, the agricultural through 8 million outlets in the lionaire Jack Ma’s firm less added. main players in India’s car mar - the rural sector as bountiful activities across the country nation, said on a conference call. heft to carry out acquisitions Sanjay Jain, Singapore- ket, said October sales were the rains have set the stage for have almost remained unaf - Tractors, passenger cars and as it looks to expand beyond based head of financials at best-ever for any month. Hero another year of record fected. This has raised the light commercial vehicles are its Chinese base and take the Aletheia Capital, estimates MotoCorp Ltd, the world’s hope that rural demand could seeing a healthy demand as fight domestically to Tencent that Ant’s price to earnings largest maker of motorcycles crops. Higher disposable drive the economic recovery,” rural buying continues to be Holdings Ltd. ratio could drop to about 10 and scooters, as well as smaller incomes with farmers are according to India Ratings and strong, according to Mahindra & In a drastic turn of events, times its lending profits, half rival Bajaj Auto Ltd, reported expected to boost demand Research Ltd, a unit of Fitch Mahindra Financial Services. China put the brakes on Ant’s of the previous target it had record sales, as rural markets from automobile to cement Ratings Ltd. Farm equipment makers $35 billion share sale just days assigned to the company. The provided a cushion against a Some companies reported echoed the sentiment. “We con - before the fintech juggernaut new price would put the fin - downturn in cities. to gold jewellery strong demand for their prod - tinue to witness unprecedented was due to go public in Shang - tech giant more in line with “We have seen a stronger de - ucts and services, such as auto - retail demand,” said Hemant hai and Hong Kong. valuations of some of the bet - mand from rural areas across mobile, cement, steel, tires and Sikka, president at Mahindra & The move upends what had ter quality banks. categories for our products as pensate for the losses in urban jewelry, in rural areas. Mahindra. been one of China’s biggest Citigroup Inc is trading at compared to last year,” Srinivasu and semi-urban towns.” Hindustan Unilever Ltd, Demand for everything from business success stories, as about eight times forward Allaphan, director of sales and Rural incomes have stayed Asia’s biggest maker of personal tractors to jewellery notwith - well as what was to be a piv - 12-month earnings, while DBS marketing at JK Tyre & Indus - strong as production of mon - care products by market value, standing, rural India alone may otal step in the development Group Holdings Ltd of Singa - tries Ltd said in an email soon-sown food grains is esti - said its sales jumped the most not be able to underpin a recov - of the nation’s fast-growing pore is trading at about 12.6 response. mated to hit record 144.5 since 2011. “We are seeing rural ery in the economy that’s capital markets. times. China Merchants Bank “We expect it to sustain for million tons. The government’s markets as well as smaller headed for its worst annual con - Iris Tan, an analyst at Morn - Co, among the country’s the next three quarters. Higher move to raise support prices for towns perform relatively bet - traction on record, according to ingstar, said that Ant could biggest retail lenders, trades sales in rural markets will com - some crops and boost spending ter,” Sanjiv Mehta, chairman and top officials and analysts. face a 25%-50% downside in at about 10 times.

Vegans’ rally in seoul Chinese exports expand faster than expected in Oct Mainland’s exports increased 11.4% in dollar terms in October from a year earlier, while imports gained 4.7%

BloomBerg ings in other countries, al - though that may fade as Chinese exports expanded major economies return to faster than expected in Octo - virus lockdowns. ber, providing support for the The unexpected accelera - recovering economy and tion in October exports sug - driving increasing demand gests China’s exports are for imports, which rose for a more resilient facing the re - second straight month. newed outbreak of the coro - Exports increased 11.4% navirus across the world. The in dollar terms in October slowdown in imports may from a year earlier, while im - reflect more seasonal impact, ports gained 4.7%, the cus - China’s economic but growth for a second toms administration said. recovery likely continued month in a row suggests a That left a trade surplus of in October, with early continued rebound in domes - Members of vegan groups, some of them wearing masks of animals in a cage, take part in a rally calling for people to live on $58.4 billion for the month. data showing tic demand, said Chang Shu, vegetables as part of efforts to improve their health and the environment in Seoul, South Korea, on Monday —DPA Economists had forecast that chief Asia economist at exports would climb 9.2% ongoing expansion in Bloomberg Economics . and imports 8.6%. manufacturing and Export growth extended Exports to the US rose a pickup in the gains in October thanks to 22.4% while imports ex - services industry electronics exports including Philippines seeks 50 million vaccine shots panded 32.9%, according to new iPhones, according to Bloomberg calculations, as Xing Zhaopeng, an economist BloomBerg the Southeast Asian nation be - people, he added. China increases purchases at Australia & New Zealand tween May through July, said The Philippines plans to secure in order to meet the targets services industry. Banking Group. The Philippines aims to have at Carlito Galvez, vaccine czar and the vaccine through multilateral set in the trade deal inked in Strong exports have been a “Import slowed surpris - least 50 million coronavirus vac - chief implementer of policies to and bilateral talks, aside from January. major support to that recov - ingly, due to the moderation cine shots next year to inoculate contain the outbreak. using what’s available under the China’s economic recovery ery due to international de - of crude oil and coal imports” about a fourth of the population, The government is evaluating WHO-backed COVAX facility, likely continued in October, mand for medical gear and and the effect of fewer work - bulk of which will likely arrive by 17 vaccines in various stages and which guarantees the country with early data showing on - equipment for people to ing days this year than in the end of 2021 or early 2022. in talks to source the supply to will get vaccines for 20% of its going expansion in manufac - work at home. There may 2019 due to the extended na - A vaccine could be available to initially vaccinate 25 million population, Galvez said. turing and a pickup in the also be a boost from re-open - tional holiday, he said. China car sales go from strength to strength as virus eases The gain in the world’s largest car market adds to optimism that a slump that lasted for more than two years is over

BloomBerg growth that lasted for decades in NEV sales, behind SAIC-GM Retail sales of cars, SUVs made way to a slowdown in Wuling Automobile Co, BYD Co, Car sales continued to recover 2018, raising questions about and another SAIC unit, CPCA in China last month as the coro - and multiple-purpose the market’s long-term vitality. said. The US company exported navirus pandemic eased in the vehicles in the mainland China’s relatively low vehicle about 10,000 China-made vehi - country and electric vehicles increased 8% from a year ownership of 196 units per cles to other countries, CPCA won more users. earlier to 2.02 million units 1,000 people means there’s still said. Tesla said it is starting Retail sales of cars, SUVs and plenty of room for growth. The Model 3 exports from China to multiple-purpose vehicles in - in October, said the China country is expected to remain as markets including Germany, creased 8% from a year earlier Passenger Car Association the world’s top car market, the France and Switzerland. A com - to 2.02 million units in October, Ministry of Industry and Infor - pany representative on Monday the China Passenger Car Associ - mation Technology said over declined to comment on the ation (CPCA) said on Monday. gen AG and Toyota Motor Corp the weekend. numbers given by CPCA. Wholesales of new energy vehi - are boosting sales, while gov - Annual passenger-vehicle In China, Tesla is facing inten - cles, which includes electric ernment incentives are helping sales will still show a decline of sifying competition from local cars, more than doubled to electric vehicles from the likes about 7% this year, CPCA pre - China’s annual passenger-vehicle sales will show a decline of about 7% this year, the rivals, with BYD and NIO solidi - 144,000 units. of Tesla Inc and NIO Inc gain dicted, after large drops during CPCA predicted, after large drops during the height of the coronavirus pandemic fying their position as the The fourth straight monthly ground. the height of the pandemic. biggest Chinese carmakers gain in the world’s largest car The rebound is a relief to That’s better than the 11% de - such as purchase subsidies. about 1.1 million units this year, by market value. The two com - market adds to optimism that a manufacturers who have spent cline CPCA projected in July. Sales of new energy vehicles — according to China Association panies’ market capitalisations slump that lasted for more than billions of dollars setting up Electric vehicles are cement - which include pure battery EVs, of Automobile Manufacturers. have overtaken local gas-guz - two years is over. Contenders plants and distribution in China ing their role as one growth fuel-cell cars and plug-in hy - Tesla sold 12,143 vehicles in zler manufacturers that have such as market leader Volkswa - over the years. Continuous driver, helped by incentives brids — are expected to rise to China last month, ranking fourth much larger sales volumes. TUESDAY 10 NOVEMBER 2020 06 politics

Biden’s Covid task The conflict in the north of ethiopia has led to shortages of fuel and food in Tigray, said an UN official force to play key role in pandemic effort Ethiopian PM expects swift BloomBerg President-elect Joe Biden an - end to conflict in Tigray nounced a new coronavirus task force as his transition team seeks to fulfill a campaign Federal soldiers continued to clash with fighters loyal to the region’s ruling promise to develop a dramati - cally different approach than party, six days after Abiy Ahmed ordered forces to respond to an alleged attack President Donald Trump’s to contain the pandemic. BloomBerg The 13-member task force is composed largely of doctors Ethiopia’s prime minister said he and public health experts, who expects conflict in the north of will work with Biden, Vice the country to end quickly, President-elect Kamala Harris The 13-member task force dismissing concerns that the and the transition team to map is composed largely of fighting may escalate into a full- out the public health and eco - doctors and public health blown civil war. nomic policies needed to cur - Federal soldiers continued to tail the virus. experts, who will work clash on Monday with fighters The task force was an - with President-elect Joe loyal to the Tigray region’s ruling nounced only hours before Biden, Vice President-elect party, six days after Prime Minis - positive preliminary test re - ter Abiy Ahmed ordered forces Concerns that Ethiopia sults were released of a Covid- Kamala Harris and the to respond to an alleged attack will descend into 19 vaccine being developed by transition team to map out on a federal army camp. The chaos are unfounded. Our Pfizer Inc and BioNTech SE in - the public health and conflict has stoked fears of a rule-of-law enforcement dicating it prevented more economic policies needed broader war at a time when the than 90% of infections. The government is struggling to end operation, as a sovereign study involved tens of thou - to curtail the coronavirus ethnic violence shaking Africa’s state with the capacity to sands of volunteers. second-most populous country. manage its own internal Eight months into the worst “Concerns that Ethiopia will affairs, will wrap up soon pandemic in a century, the pre - people, many of whom were al - descend into chaos are un - Federal troops and regional special forces are amassing in south-eastern Tigray and the liminary results pave the way ready advising Biden and his founded,” Abiy said in a neighbouring Afar region, foreign diplomats said by ending the prevailing for the companies to seek an staff throughout the campaign. statement on Twitter. impunity emergency-use authorisation Kessler and Murthy, in particu - “Our rule-of-law enforcement from regulators if further re - lar, were deeply involved in operation, as a sovereign state n The bulk of the fighting has been on the western end of Abiy Ahmed, Ethiopian PM search shows the shot is also shaping the Biden campaign’s with the capacity to manage its the Tigray-Amhara regional border, where Ethiopian PM safe. plans for responding to the own internal affairs, will wrap From the onset of the pan - virus, and they both regularly up soon by ending the prevailing Abiy said the army wrapped up its first phase of operations sent by mobile phone. demic, Biden said it was critical briefed the president-elect. impunity.” Relations between Tigray and to listen to scientists and med - The task force was expected The yield on Ethiopia’s $1 bil - n Relations between Tigray and Ethiopian PM Abiy’s Abiy’s government have been ical experts in charting a path to brief Biden and Harris on lion of 2024 Eurobonds climbed strained since the premier took out of the pandemic. He staked Monday. The transition and the for a fourth day on Monday, government have been strained since the premier took office in 2018 and sidelined the much of his presidential cam - task force face the difficult bringing its increase since office in 2018 and sidelined the Tigray People’s Liberation Tigray People’s Liberation Front, paign on striking a contrast task of figuring out how to im - November 3 to 112 basis Front, once the pre-eminent power broker in the country once the pre-eminent power with Trump, who repeatedly plement the policies Biden points — the highest level since broker in Ethiopia. downplayed the dangers of the has proposed, including identi - June 15, according to data com - Last month, the federal parlia - virus even after being hospi - fying supply chain issues for piled by Bloomberg . who asked not to be identified neighbouring Afar region, for - ment ordered the Treasury to talised when he contracted it. vaccine distribution and in - So far, the bulk of the fighting because they’re not authorised eign diplomats said on Monday halt direct budgetary support to The team will be led by for - creased testing. has been on the western end of to speak to the media. on the condition of anonymity in the Tigrayan administration for mer Surgeon General Vivek The announcement of the the Tigray-Amhara regional bor - There’s been no official word order to not disclose military de - defying an order to postpone re - Murthy, former Food and Drug task force is the first step Biden der, where Abiy said the army on the death toll, though diplo - tails. That area could become the gional elections. Administration Commissioner and his team are taking to wrapped up its first phase of mats said last week there have next major flashpoint in the con - The conflict has led to short - David Kessler, and Marcella demonstrate the high value operations. been dozens of casualties. flict, they said. ages of fuel and food in Tigray, Nunez-Smith, a professor of they will place in having ex - Government jets bombed sites Federal troops and regional State Minister of Foreign Af - said Sajjad Mohammad, the head public health at Yale University. perts and doctors guide their near the Tigrayan capital of special forces are now amassing fairs Redwan Hussein didn’t re - of the United Nations humani - It will include about a dozen response. Mekelle, according to two people in south-eastern Tigray and the spond to a request for comment tarian office in Ethiopia. Suu Kyi’s party leads as Myanmar counts votes Hungary imposes BloomBerg Suu Kyi include a coron - coronavirus curbs Another five-year term avirus outbreak and the need Myanmar’s ruling party led to raise the living standards BloomBerg by Aung San Suu Kyi said it will allow Aung San Suu for about a third of the popu - had won enough parliamen - Kyi and her government lation who remain in poverty. Hungarian PM Viktor tary seats to retain power in to fulfill their pledges to Businesses remain mired in Orban announced the country’s second election revive the economy and red tape, and accusations of sweeping measures to since the end of military rule genocide against the coun - stem the spread of almost a decade ago. ensure internal peace try’s Muslim Rohingya popu - the coronavirus, in a Suu Kyi’s National League lation are still a concern for policy reversal trig - for Democracy (NLD) is on foreign investors. gered by new cases course to win about 390 Another five-year term “Our first priority is to threatening to over - seats to the national assem - will allow Suu Kyi and her make our economy revive whelm hospitals. will be in effect from bly, according to Myo Nyunt, government to fulfill their and then minimise the im - The government Wednesday for at least a member of the party’s chief pledges to revive the econ - pact of Covid-19,” Myo Nyunt will ban public gather - 30 days. executive committee. While Young girls raise their inked fingers in front of a polling station after casting their omy and ensure peace. The said by phone on Monday. ings, expand a curfew Hungary reported voting was held for the 476 votes at 2020 Myanmar general election in Mandalay on November 08 —DPA country’s first civilian-led “We will also prioritise on to between 8 pm and 5 record coronavirus civilian seats in the 664- government in more than ethnic affairs and internal am, shut restaurants cases and deaths over member joint house, the The nation’s de facto President Henry Van Htio five decades has delivered on peace as well as the forma - except for take-away the weekend, and the Union Election Commission leader retained her seat in and ruling party senior some reforms, including lib - tion of a constitution that will and switch secondary country has logged the has so far announced results the lower house from Yangon leader May Win Myint were eralisation of the banking, in - lead to truly democratic fed - schools and universi - third-highest number only for three parliamentary township by a landslide, ac - also among early winners, surance and education eral union. We hope our ties to distance learn - of deaths per capita in seats, all won by the ruling cording to local media. Pres - according to election com - sectors and curbing inflation. economy will grow in the ing, Orban said on the EU. “If the number party. ident Win Myint, Vice mission officials. The challenges awaiting next five years.” Monday in a Facebook of infected continue to post. Gyms, theatres grow like this, our and museums will doctors and nurses, the gulf time the gulf time exPerT meeTinG close and sports that is to say our hos - Date: 10-11-2020 Date: 10-11-2020 events must be held in pitals, won’t be able to Notification Date: 03-11-2020 the gulf time — Date: 10-11-2020 Notification No: 170104/2020 empty stadiums, he handle the burden,” said. The measures Orban said. GovernmenT oF DuBai GovernmenT oF DuBai notice of Summon DuBai CourTS DuBai CourTS Case no: 3767 – 2020 minor Commercial Dubai Commercial Court of First Instance www.dc.gov.ae Before honorable Sharjah court notification by Publication of First instance loST ShareS CerTiFiCaTe at Case # 16/2020/3290 Commercial Partial notice by Publication no. 5951/2020 Case Subject: To obligate the first defendant jointly and severally with the second, third, and fourth Plaintiff : emirates nBD . defendants to pay the plaintiff an amount of AED 2,537,467,00 (two million five hundred thirty-seven the gulf time — Date: 10-11-2020 thousand and four hundred sixty seven Dirham), and to obligate the second defendant jointly and severally with the first, third, and fourth defendants to pay the plaintiff bank an amount of AED notifying Party: marhaba lighting equipment Trading (l.l.C) 228,145.00 (two hundred and twenty-two thousand and one hundred forty-five Dirham) along with notified Parties: Defendant: Perwez ayoub Fadel Youssef Fadel. legal interest @ 12 % as from the due date on 21/07/2020 till the full payment and to bind the (1) najmat al adwa electricals equipment Trading llC . Shares certificate No. 88 issued from Ras defendants jointly and severally to pay the charges, expenses and attorney fees. (2) Bhamani ahmed abubakkar, indian notifier: national Bank of Fujairah Capacity: Plaintiff Defendant above name, are summoned to Al Khaimah Co. for White Cement and represented by: abdullah musabah obaid ahmed Saeed Bin hamad al muhairi Under the notice No. 142595/1/2020, legal notice registered at the Notary Public Capacity: Attorney in Dubai, the Notifying Party notifies the Notified Parties to pay the sum of AED appear on Tuesday, 17/11/2020 at 02.00 PM on Parties to be notified: 1- Paramount Building materials llC Capacity: Defendant 60606 (only sixty thousand, six hundred and six dirhams), which the Notified Construction Materials, (No. of Shares 2- royal Silver metal & Gypsum ind. llC Capacity: Defendant Zoom conference video call either personally or 3- muhammad Saeed Tariq rehmat Khan Capacity: Defendant Parties owe the Notifying Party, within 7 days from the date of the notification 4- asim Saeed mohamed Capacity: Defendant hereof. If you do not respond and pay the sum, which you owe us, within the through an authorized attorney and submit a 3445), under the name of: Sultan Unknown address aforementioned period, we will take all legal actions that reserve all rights of defense brief to the claim with all documents to Subject of notification: our principal, the Notifying Party. We also reserve the right to claim a Kindly be informed that the plaintiff has filed this case requesting to obligate the first defendant proceed with the preparation of the above- Mohammad Alsharif, has been lost. jointly and severally with the second, third, and fourth defendants to pay the plaintiff an amount compensation for the harm that caused by the Notified Parties to the Notifying of AED 2,537,467.00 (two million five hundred thirty-seven thousand and four hundred sixty seven Party, remaindering you that in this case, the Notified Parties shall be liable for mentioned case - in your capacity as Defendant. Dirham), and to obligate the second defendant jointly and severally with the first, third, and fourth all related legal consequences, including the court fees, expenses, legal defendants to pay the plaintiff bank an amount of AED 228,145.00 (two hundred and twenty- interests and lawyer's fees. two thousand and one hundred forty-five Dirham) along with legal interest @ 12 % as from the due date on 21/07/2020 till the full payment and to bind the defendants jointly and severally to Regards, Founder please call on: pay the charges, expenses and attorney fees. With reservation of all other rights of the Notifying Party The hearing will be on Tuesday, 10/11/2020 at 09:30 am, in the Remote Litigation hall-BUILDING DESC& Best Regards Banking Expert\ Moustafa Mahfouz. 0507363779 Therefore, you are required to attend in person or by legal representative, and you shall submit your pleading memos or documents to the court at least three days prior to the hearing date. Notary Public Mobile Number: 0501117764. //Signed// 072034227 Case manager Email Address: [email protected] nada abdul Qader al Khamri //Seal: Dubai Court, Notary Public, 21 Oct 2020//

the gulf time the gulf time the gulf time the gulf time Date:10-11-2020 Date:10-11-2020 Date:10-11-2020 Date:10-11-2020

Attestation Date: 13/10/2020 Attestation Date: 13/10/2020 Attestation Date: 21/10/2020 Attestation Date: 21/10/2020 GovernmenT oF raS al Khaimah GovernmenT oF raS al Khaimah GovernmenT oF raS al Khaimah GovernmenT oF raS al Khaimah Courts Department Courts Department Courts Department Courts Department Subject: noTariSeD noTiCe Subject: noTariSeD noTiCe Subject: noTariSeD noTiCe Subject: noTariSeD noTiCe Claim for aeD 101,914.74 Claim for aeD 101,914.74 Claim for aeD 51,741.00 Claim for aeD 72.039.00 attestation no 17370/2020 attestation no 17371/2020 attestation no 17985/2020 attestation no 17987/2020

notifier: Zaki ali Zaki abdul hameed, Egyptian national in my capacity as an notifier: Zaki ali Zaki abdul hameed, Egyptian national in my capacity as an notifier: Dubai islamic Bank, represented by Trust for advocates & legal notifier: Dubai islamic Bank, represented by Trust for advocates & legal agent of Trust advocates & legal Consultants under POA No SH20180304C59489 agent of Trust advocates & legal Consultants under POA No SH20180304C59489 Consultants under POA with attestation No 246077/1/2018, represented by Zaki Consultants under POA with attestation No 246077/1/2018, represented by in its capacity as the legal representative of Noor Islamic Bank (PJSC), Noor Bank in its capacity as the legal representative of Noor Islamic Bank (PJSC), Noor Bank Ali Zaki Abdul Hameed 113368/1//2019 mohamad ahmad Kaed al mekhlaki under POA No 13274/2017 PJSC, currently under POA No 98948 /1/ 2018 PJSC, currently under POA No 98948 /1/ 2018 address: Dubai, Deira, Port Saeed St, Dubai Islamic Bank Building. Ph: address: Dubai, Deira, Port Saeed St, Dubai Islamic Bank Building. Ph: address: Currently, Dubai, Bur Dubai, Sheikh Zayed Road St, owned by Emaar address: Currently, Dubai, Bur Dubai, Sheikh Zayed Road St, owned by Emaar 04-2075849, Fax: 04-819 4294. PO Box 1080, Dubai, with a designated domicile 04-2075849, Fax: 04-819 4294. PO Box 1080, Dubai, with a designated domicile Properties with the chosen domicile as the office of Trust for advocates & legal Properties with the chosen domicile as the office of Trust for advocates & legal at the office of Trust for advocates & legal Consultants , being in Sharjah, Al at the office of Trust for advocates & legal Consultants , being in Sharjah, Al Consultants being in Sharjah, Al Qasba, Khan Corniche St. Indian Tower Consultants being in Sharjah, Al Qasba, Khan Corniche St. Indian Tower Qasba, Khan Corniche St. Indian Tower Building, 11 th floor, office No 1112&1113 Qasba, Khan Corniche St. Indian Tower Building, 11 th floor, office No 1112&1113 Building,11 th floor, office No 1112 &1113 – Ph: 06-550 5677, Fax: 06-785 5057, Building,11 th floor, office No 1112 &1113 – Ph: 06-550 5677, Fax: 06-785 5057, Mob: — Ph: 06-550 5677, Fax: 06-785 5057, Mob: 50-223 1224, email: mohd@ trustdc.ae — Ph: 06-550 5677, Fax: 06-785 5057, Mob: 50-223 1224, email: mohd@ trustdc.ae Mob: 50-223 1224, email: [email protected] 50-223 1224, email: [email protected] Notified person: Canaprel Bershel Williams Notified person: Joy mathew robert morris Notified person: Shubair mohamad leyakat ali Shaheen Notified person: Judith luci Binto, w/o Pravina Address: United Arab Emirates- Abu Dhabi - Al Merkhaniya — Villa 4, Address: United Arab Emirates- Sharjah-Al Khan, Al Owais Building, Apartment Address: United Arab Emirates- Sharjah – Al Karama St — Near Ramada hotel, Address: United Arab Emirates- Sharjah — Al Yarmouk St — Al Yama Building, Tel: 056-992 4222 No. 306, Tel: 050-234 7089 Karama Building 4, Tel: 052- 690 4549 Flat 701, Tel: 055-566 7234 As on ...... , a finance contract was entered into by and between the As on ...... , a finance contract was entered into by and between the As on, 26-06-2014, a finance contract was entered into by and between the As on, 26-06-2014, a finance contract was entered into by and between the notifier and the notified person in favour of the notified person for the purpose notifier and the notified person in favour of the notified person for the purpose notifier and the notified person in favour of the notified person for the purpose notifier and the notified person in favour of the notified person for the purpose of auto finance loan of auto finance loan of auto finance loan of auto finance loan Plate Emirate Automobile Plate Type Plate Emirate Automobile Plate Type Plate Emirate Automobile Plate Type Plate Emirate Automobile Plate Type 67731/13 abu Dhabi Tiggo - 5-2018 - brown Private 12315/3 Sharjah Toyota Fortuner-2013-White Private 20659/B ajman honda accord Private 94713/White Sharjah mitsubishi Pajero Private For the amount of aeD 62,720 and the finance contract amount, including the For the amount of aeD 72,092 and the finance contract amount, including the For the amount of AED 95,840 and the finance contract amount, including the For the amount of aeD 58,000 and the finance contract amount, including the interests thereof was to be repaid at monthly instalments amounting to aeD interests thereof was to be repaid at monthly instalments amounting to aeD interests thereof, was to be repaid at monthly instalments amounting to AED interests thereof was to be repaid at monthly instalments amounting to aeD 1,151 over ...... months, totaling aeD 69,055 1,443 over ...... months, totaling aeD 86,618 2,004.74 over 60 months, totaling AED 106,814.74 1,867.52 over 36 months, totaling aeD 64,922.52 Whereas the notifier committed to all its contractual liabilities under the auto Whereas the notifier committed to all its contractual liabilities under the auto Whereas the notifier committed to all its contractual liabilities under the auto Whereas the notifier committed to all its contractual liabilities under the auto finance contract, the notified person failed to live up to its contractual liabilities finance contract, the notified person failed to live up to its contractual liabilities finance contract, the notified person failed to live up to its contractual liabilities finance contract, the notified person failed to live up to its contractual liabilities until it incurred the amount aeD 51,741.00 that remains outstanding to date, in until it incurred the amount aeD 72,039.00 that remains outstanding to date, in until it incurred the amount AED 101,914. 74 that remains outstanding to date. until it incurred the amount aeD 37,932.52 that remains outstanding to date, in addition to the outstanding interests, charges and legal and contractual fees addition to the outstanding interests, charges and legal and contractual fees in addition to the outstanding interests, charges and legal and contractual fees addition to the outstanding interests, charges and legal and contractual fees due after such date. due after such date. due after such date. due after such date. Therefore Therefore Therefore Therefore The notifier notifies the notified person to repay the outstanding amount (aeD The notifier notifies the notified person to repay the outstanding amount (aeD The notifier notifies the notified person to repay the outstanding amount (aeD The notifier notifies the notified person to repay the outstanding amount (aeD 51,741.00) owed by the latter within seven (7) days from the date of this notice. 72,039. 00) owed by the latter within seven (7) days from the date of this notice. 101,914. 74) owed by the latter within seven (7) days from the date of this notice. 37,932.52) owed by the latter within seven (7) days from the date of this notice. Failure to do so, the notifier shall be constrained to initiate the necessary legal Failure to do so, the notifier shall be constrained to initiate the necessary legal Failure to do so, the notifier shall be constrained to initiate the necessary legal Failure to do so, the notifier shall be constrained to initiate the necessary legal proceedings against the notified person, including attachment, sale, specific proceedings against the notified person, including attachment, sale, specific proceedings against the notified person, including attachment, sale, specific proceedings against the notified person, including attachment, sale, specific performance, enforced performance and other types of procedures under the performance, enforced performance and other types of procedures under the performance, enforced performance and other types of procedures under the performance, enforced performance and other types of procedures under the law of civil and commercial transactions. law of civil and commercial transactions. law of civil and commercial transactions. law of civil and commercial transactions. Without prejudice to the notifier 's other rights Without prejudice to the notifier 's other rights Without prejudice to the notifier 's other rights Without prejudice to the notifier 's other rights The Notifier: The Notifier: The Notifier: The Notifier: //a signature appears// //a signature appears// //a signature appears// //a signature appears// tuesday 10 november 2020 banking 07

New ZealaNd’ s economy is bouncing back strongly from a first-half recession BOE governor Cunliffe Orr readying new RBNZ stimulus says resuming bank dividends still unclear tool as step towards negative rates BloomBerg Bank of England (BOE) The central bank governor is expected to lay out plans on Nov 11 to provide Deputy Governor Jon Cun - liffe said there is no clarity cheap loans to lenders, giving them scope to further reduce lending rates yet on allowing banks to pay dividends as there may “still BloomBerg be a case” for restrictions Central banks around the until their robustness is as - New Zealand central bank sessed, according to The Policy makers need to (RBNZ) governor Adrian Orr is world are gearing up for Sunday Times. set to unveil a new monetary further stimulus as the virus Policy makers need to study the economic stimulus tool aimed at driving forces governments to study the economic outlook, outlook, bank capital and borrowing costs to fresh his - bank capital and the impact the impact of profitability toric lows to spur economic impose new lockdowns, of profitability and losses on growth. damping the global outlook the lenders before making a and losses on the lenders Orr is expected to lay out decision, he said in an inter - before making a decision, plans on November 11 to pro - view with the paper. While said Jon Cunliffe, Bank of vide cheap loans to banks, giving Some economists say the FLP “it may be possible to allow them scope to further reduce could be targeted at business distributions,” it will be England Deputy Governor lending rates. The Funding for lending so that it boosts eco - judged on the future and Lending Program, which could nomic activity rather than house how strong banks are per - cerns that they are related to begin within weeks, is seen as a prices. But they still expect it to ceived to be, he said. the government’s fiscal poli - key step towards Reserve Bank reduce mortgage lending rates, The Bank of England is set cies. He also said a judgment cutting the official cash rate into with estimates ranging from 18 to review its de facto ban on on negative rates would negative territory next year. to 30 basis points. Currently, shareholder payouts at the come “further down the New Zealand central bank has briefed economists and media on the possible shape of the “It’s an important part of mak - Funding for Lending Program and said it could be introduced before the end of this year one-year fixed housing loans are end of the year. Barclays Plc, track,” and acknowledged ing a negative OCR effective,” hovering around 2.5%. Standard Chartered Plc and they could help with bad said Sharon Zollner, chief econo - If the RBNZ decides to take HSBC Holdings Plc are debt even if borrowing costs mist at ANZ Bank New Zealand n The Funding for Lending Program is seen as a key step the OCR negative next year, the among banks that have cited in that range reduce banks’ in Auckland. “They’ll focus on towards the Reserve Bank of New Zealand cutting the FLP lending rate would fall with their financial health as a profitability. the funding for lending program it, allowing banks to pass the reason they could start pay - Cunliffe said the current this time, and if they think more official cash rate into negative territory next year cuts on to customers. Retail ing dividends again next slump caused by the coron - is required they can forecast rates will remain positive be - year. avirus pandemic is unlike negative rates in February and n The central bank will hold the cash rate at 0.25% and cause of the margin between The central bank’s deci - other downturns in that it then deliver them in April.” them and the cost of funds. sions on quantitative easing might cause a restructuring New Zealand’s economy is maintain its bond-purchase program at $68 billion Most New Zealand econo - are motivated by meeting its of the economy, with a huge bouncing back strongly from a mists expect the RBNZ to cut the inflation target, Cunliffe told shift in consumption pat - first-half recession after the one hour later. The central bank launched an additional bond- OCR to minus 0.5% in 2021, but the paper, dismissing con - terns, the paper reported. country’s successful contain - will hold the cash rate at 0.25% buying program. The RBA al - several say the bank will refrain ment of Covid-19 saw a quick and maintain its bond-purchase ready offers banks cheap loans from forecasting that in its cash- resumption of activity, and the program at NZ$100 billion ($68 via a facility similar to what the rate projections this week to housing market is running hot. billion), according to economists. RBNZ is expected to launch. avoid being tied down. It has al - But policy makers have stressed Central banks around the The RBNZ has briefed econo - ready stopped forecasting the the downside risks ahead as the world are gearing up for further mists and media on the possible OCR beyond March next year, Goldman Sachs chops closed border hobbles the stimulus as the virus forces gov - shape of the Funding for Lending the point to which it has com - tourism industry and resurgent ernments to impose new lock - Program, or FLP, and said it could mitted to holding rate steady. infection rates abroad threaten downs, damping the global be introduced before the end of RBNZ policy makers have Treasury yield target global growth. outlook. Even though neigh - this year. The program will offer said they would rather do too The RBNZ will release its Mon - bouring Australia has brought banks long-term loans at or near much than too little with stimu - etary Policy Statement in Covid-19 under control, its Re - the OCR. This will reduce their lus, and indicated they remain Wellington on Wednesday and serve Bank last week cut the cost of funding, allowing them to focused on downside risks in Orr will hold a press conference benchmark rate to 0.10% and lower retail lending rates. the medium term. Deutsche Bank didn’t heed ECB SocGen to cut 640 jobs request to pause leveraged finance in France News on the coronavirus spread and vaccine development should take over as a key The German lender had $13bn of leveraged loans in its portfolio BloomBerg driver for the rates market into year-end, according to Goldman Sachs

BloomBerg Societe Generale SA (SocGen) BloomBerg plans to cut 640 jobs in Investors have piled back Deutsche Bank AG didn’t heed France, mainly at its invest - Goldman Sachs Group Inc. cut a recommendation from the ment-banking operations, as its year-end Treasury yield fore - into Treasuries, swinging European Central Bank (ECB) part of a broader cost savings cast as the prospect of a divided from record short positions to suspend parts of its lever - plan. Congress under a Democratic in the space of a week, aged finance operations after Part of the reduction re - president makes another big with the US 10-year yield the regulator identified short - lates to SocGen’s decision to fiscal stimulus package unlikely. comings in how it manages risk stop trading in some of its The 10-year yield should fall down 14 basis points from in that business, a person risker structured products, to around 0.75% by the end of its intraday high on familiar with the matter said. the bank said in a statement 2020, according to strategists November 4 Deutsche Bank took reme - on Monday. The securities including Praveen Korapaty. dial action within the given business as well as compli - That’s well below the 1.05% time frame but didn’t follow ance and risk will also be target that the team had antici - year-end, according to Goldman. the ECB’s request to halt high- affected. pated before the election. Investors have piled back into risk transactions until the issue The job losses come after There’s still a small chance Treasuries, swinging from was resolved, the person said, Deutsche Bank took remedial action within the given time frame but didn’t follow the the bank rebounded from its that a Democratic sweep re-en - record short positions in the asking not to be identified dis - ECB’s request to halt high-risk transactions until the issue was resolved worst loss in a decade with a ters the narrative, should Geor - space of a week, with the US 10- cussing private information. better-than-estimated third- gia’s Senate runoff elections year yield down 14 basis points The ECB made the non-binding business. quarter profit. SocGen said appear to favour the party, the from its intraday high on No - recommendation earlier this Leveraged finance -- which Deutsche Bank had 11 bil - the cuts and the reorganisa - strategists added. vember 4. The rate rises six year following a routine audit, usually involves lending to lion euros ($13 billion) of tion of some of its businesses “We expect markets would be basis points after the US re - the person said. leveraged loans in its portfolio, will contribute to its plan, an - more cautious in reprising that ported stronger-than-expected A Deutsche Bank spokesman highly indebted companies it said in June. It had to write nounced in August, to lower anticipatory repricing this time nonfarm payrolls. It fell one said the lender doesn’t com - as part of a takeover by a down the value on some of the costs by 450 million euros around, suggesting that at least basis point to 0.81% on Monday. ment on its interactions with private-equity firm — loans when the pandemic hit ($534 million) within its cap - to year-end, rates markets are Goldman’s call contrasts with regulators. An ECB spokes - earlier this year, even though ital markets division by likely to trade with a divided strategists at BMO Capital Mar - woman declined to comment has long been an area the effect was mitigated 2023. government baseline,” the kets and Citigroup, who still see on the news, which was re - of growth for Deutsche by hedges, Bloomberg has The plan doesn’t include strategists said. “We do expect yields climbing to touch at least ported earlier by the Financial Bank under the CEO reported. any forced cuts and will focus many of the reflation themes 1% by end of December. Times. Christian Sewing Sewing has made improving instead on voluntary depar - we had previously highlighted Morgan Stanley are also Leveraged finance — which relations with regulators a pri - tures and redeploying em - to reappear, but not until the bearish, though recommend in - usually involves lending to ority of his tenure. He has ployees into new roles, the second quarter of 2021.” vestors shift from shorting highly indebted companies as Bank under Chief Executive Of - made progress on this front, bank said. The initiative is News on the coronavirus Treasuries outright to initiating part of a takeover by a private- ficer Christian Sewing. The with the ECB lowering capital subject to discussions with spread and vaccine develop - trades positioning for the gap equity firm — has long been an lender recently said it has requirements for the bank a employee representatives, it ment should take over as a key between five-year and 30-year area of growth for Deutsche gained market share in the year ago. said. driver for the rates market into yields to steepen. HSBC’s Canada unit weighs sale of covered bonds in euros The UK-based lender is weighing up Europe, the largest market for covered bonds, for a deal as soon as next year

BloomBerg After European banks, vestors outside their borders Canada is the biggest originator n After European banks, for covered bonds in euros and HSBC Holdings Plc’s unit in of the securities, with 113 bil - Canada is the biggest dollars partly because Canadi - Canada is considering its first lion euros ($133 billion) of the ans prefer the senior unsecured euro-denominated covered debt outstanding, according to originator of the notes, Halpin said. Long-time is - bond as it expands a market pio - European Covered Bond Coun - securities, with $133bn suers include Royal Bank of neered in the 18th century that cil data as of the end of last year. of the debt outstanding Canada and Toronto-Dominion 300 years later has the distinc - Banks have raised the equiva - Bank. tion of surviving an economic lent of 254 billion euros in the The securities weathered meltdown relatively unscathed. market across all currencies so n Banks have raised the March’s pandemic-driven mar - The lender is weighing up Eu - far this year, compared with 257 equivalent of 254bn ket crisis with a relatively mod - rope, the largest market for cov - billion euros in the same period euros in the market erated increase of the risk ered bonds, for a deal as soon as in 2019, data compiled by premiums. The spread of a next year, according to Marty Bloomberg show. across all currencies so Bloomberg Barclays index Halpin, the head of balance sheet Since creating its covered bond far this year, compared grouping euro-denominated management for HSBC Bank program in September 2018, with 257bn euros in the covered bond issued by Cana - Canada. The potential transac - HSBC Bank Canada has priced same period in 2019 HSBC expands a market pioneered in the 18th century that 300 years later has the dian banks rose as much as 42 tion would be benchmark-sized, three transactions in the US distinction of surviving an economic meltdown relatively unscathed basis points compared to the he said. dollar market, according to levels seen at end of February, “Being able to issue in euros Bloomberg data. Covered bonds gins to 18th-century Prussia, typ - recent deal out of that program, data show. That’s around 10 while of a gauge comprising will really help us to diversify have a senior guarantee from the ically have higher credit ratings was quoted Wednesday at an basis points tighter than its senior unsecured bonds from the platform and diversify the issuer as well as a first claim on than the bank’s unsecured debt. equivalent spread of around 44 C$1.5 billion of senior unsecured European banks jumped as investor base,” Halpin said in an an earmarked pool of assets, so The lender’s $1 billion of cov - basis points over Canada’s gov - deposit notes due early 2023. much as 159 basis points in the interview. the notes, which trace their ori - ered bonds due 2023, its most ernment yield curve, Bloomberg Canadian banks target in - same time period. tuesday 10 november 2020 08 stock markets

The MSCI All-Country World Index rises as much as 0.6% to 596.21 India’s sensex closes at record high as US Stocks rise to record high on poll uncertainty ends

BloomBerg

Biden presidency optimism India’s benchmark equity index is on course for a record S&P 500 futures climb about 1.5%, building on strongest week since April close after Democrat Joe Biden was declared the winner in the for the benchmark, as the US president-elect launched his transition effort US election, ending uncer - tainty of a prolonged process BloomBerg in deciding a victor. A GOP senate The benchmark S&P BSE Global equities rallied to a majority should Sensex index climbed 1.5% to record high amid optimism 42,512.19 as of 10:12 am in about the outlook under a Joe ensure that Donald Mumbai, set to finish higher Biden presidency. The dollar Trump’s pro-business than the previous record in n The benchmark S&P extended declines. policies stay intact. For January. The NSE Nifty 50 BSE Sensex index Last week’s embrace of risk stocks, this is likely the index rises 1.4%, also poised climbs 1.5% in continued on Monday after for an all-time high. Both Biden was declared the winner best of both worlds gauges on Friday capped their Mumbai, set to finish of the US election over the Joyce Chang, best week since June. higher than previous weekend. S&P 500 futures rise Chair of global research at India’s equity gains, which record in January about 1.5%, building on the JPMorgan Securities track a surge in stocks across strongest week since April for Asia Pacific, come amid signs the benchmark, as the presi - of a domestic economic recov - n The NSE Nifty 50 index dent-elect launched his transi - meeting on Friday to discuss ery after one of the world’s rises 1.4%, also poised tion effort. Contracts on the bolder action to help poor na - strictest lockdowns and the for an all-time high tech-heavy Nasdaq 100 index, tions struggling to repay their worst quarterly contraction which have outperformed Futures on the S&P 500 Index increased 1.2% as of 8:07 am London time and the Stoxx debts. among major economies. A since Tuesday’s vote, were up Europe 600 Index climbed 1.5% Futures on the S&P 500 measure of volatility fell for n 27 of the 39 Nifty more than 2%. Index increased 1.2% as of four straight days through Fri - 50-member firms that Gains were broad-based in 8:07 am London time and the day after touching a three- announced results so Asia and European stocks n Contracts on the tech-heavy Nasdaq 100 index, which Stoxx Europe 600 Index month high on November 3. opened higher. The yuan and climbed 1.5%. Biden passed the threshold far have beaten or euro rises alongside the Aus - have outperformed since Tuesday’s vote, were up more While the MSCI Asia Pacific of 270 Electoral College votes matched estimates tralian and New Zealand dol - than 2 percent on Monday Index rises 1.3%, the MSCI needed to capture the presi - lars. Treasuries were steady Emerging Market Index gained dency and media networks at and oil pared some of Friday’s 1.2%. the weekend declared him vic - Modi’s popularity since the slide. n Gains were broad-based in Asia and European stocks The Bloomberg Dollar Spot torious. President Donald pandemic swept the nation of Biden in his victory speech opened higher. The yuan and euro rises alongside the Index decreased 0.2% to Trump is weighing legal chal - 1.3 billion, which now has the promised swift action against Australian and New Zealand dollars 1,147.79 and the euro surges to lenges and has so far refused world’s second-largest infec - the pandemic and an orderly 0.2% to $1.189. to concede. tion tally with 8.51 million transfer of power, though Pres - While the British pound Indian equities could con - coronavirus cases. ident Donald Trump is weigh - n Treasuries were steady and the dollar extended declines gained 0.1% to $1.3176, the tinue to rally “on account of As earnings continue, 27 of ing legal challenges and has so Japanese yen weakened 0.1% more clarity on US election the 39 Nifty 50-member com - far refused to concede. As of to 103.49 per dollar. results,” said Abhimanyu panies that have announced Sunday there was a growing With the US election at an Hokkaido. The yield on 10-year Treas - Sofat, head of research at IIFL results so far have beaten or sense among Trump’s allies end, investor focus will likely China remains a relative uries declined less than one Securities Ltd. matched estimates. that he’d lost. return to the global economic bright spot, with trade data basis point to 0.82% and the Locally, investors will now The rupee strengthened “A GOP senate majority recovery. That remains under over the weekend showing yield on two-year Treasuries turn their focus to voting in the 0.4% per US dollar, while the should ensure that Trump’s threat from the resurgent Asia’s largest economy is declined less than one basis eastern state of Bihar, where yield on the 10-year govern - pro-business policies stay in - coronavirus, with worldwide continuing to recover. point to 0.15%. exit polls show Prime Minister ment bond increased by two tact,” said Joyce Chang, chair of cases of Covid-19 surpassing Meanwhile, Alibaba is hold - While Germany’s 10-year Narendra Modi’s party falling basis points. All 19 sector in - global research at JPMorgan Se - 50 million. ing its annual Singles’ Day on yield fall one basis point to - short of a majority. dexes compiled by BSE Ltd. curities. “For stocks, this is The US reported more than Wednesday, an online global 0.63%, Britain’s 10-year yield “Due to the duration of the rise, led by a gauge of software likely the best of both worlds.” 100,000 new infections for a shopping phenomenon that decreased one basis point to regime, even a negative verdict exporters that climbed 2%. The MSCI All-Country World fourth consecutive day. Total had $38 billion of sales last 0.262%. may not be taken as a big set - All 30 shares of the Sensex Index rises as much as 0.6 per - US cases neared 10 million year. West Texas Intermediate back” to Modi’s government, were in the green with ICICI cent to 596.21, surpassing the with no slowdown in sight. Finance ministers and cen - crude gained 1.5% to $38.08 a Sofat said. Bank Ltd. contributing the intraday high of 595.24 set on Japan is facing rising infections tral bankers from the Group of barrel and gold strengthened Ballots will be counted on most to the gain and the September 3. in the northern island of 20 will hold an extraordinary 0.3% to $1,958.17 an ounce. Tuesday in the first test of largest move, increasing 3.4%.

Daily Financials As of 2020-Nov-09 Generated on 2020-Nov-09 18:14

Capitalization (AED) Securities Total Big Block Regular + Private Regular Board Private Board FUND Board Dual Listing Companies Traded Declined Advanced Unchanged Value (AED) Volume Trades Trades 7.38608E+11 7.27943E+11 10665550416 45885000 20735674212 29 7166452,783, 401.32401.32102,993, 437 2,973 0

Banks Symbol Face Val (AED) Issued Shares Last Close High 52 Low 52 Value (AED) Volume Trades Change Change % Paid Up Capital ((AAED) Market Cap. (AED) Abu Dhabi Commercial Bank A1.00379,354DCB 6,957, 6.000 8.150 3.82043,210, 610.33 7,258, 888.00 306 0.150 2.566,957,379,354. 00 41,744,276,124. 00 Abu Dhabi Islamic Bank A1.00000,000DIB 3,632, 4.470 5.850 3.19031,758, 222.84 7,056, 785.00 412 (0.030) (0.67) 3,632,000,000.00 16,235,040,000. 00 Bank of Sharjah B1.00000,000OS 2,100, 0.510 0.830 0.50050,568. 03 99,153. 00 1 0.005 0.992,100,000,000. 00 1,071,000,000. 00 Commercial Bank International C1.00383,050BI 1,737, 0.730 0.966 0.635 1,737,383,050.00 1,268,289,626. 50 Finance House FH 1.00310,049, 961 1.5901.620 1.400 310,049,961.00 492,979, 437.99 Invest Bank I1.00982,143NVESTB 3,180, 0.4401.830 0.430 3,180,982,143.00 1,399,632,142. 92 First Abu Dhabi Bank FA1.00000,000B 10,920, 11.760 15.920 7.78086,741, 578.48 7,412, 727.00 406 0.160 1.3810,920,000,000. 00 128,419,200,000. 00 National Bank of Fujairah N1.00761,884BF 1,914, 4.9804.980 4.980 1,914,761,884.00 9,535,514,182. 32 National Bank of Umm Al Qaiwain N1.00000,015BQ 1,848, 2.0002 2.180.180 1.810 1,848,000,015.00 3,696,000,030. 00 Sharrjajah Islamic Bank S1.00597,750IB 3,081, 1.170 1.350 0.950606,387. 95 519,135. 00 11 0.010 0.863,081,597,750. 00 3,605,469,367. 50 The National Bank of Ras Al Khaimah RA1.00245,428KBANK 1,676, 3.5505 5.000.000 3.330 1,676,245,428.00 5,950,671,269. 40 United Arab Bank UAB 1.002,062, 550,649 0.8941.130 0.807 2,062,550,649.00 1,843,920,280. 21 Total 39,420,950,234 162,367,367.63 22,346, 688.00 1,136 39,420,950,234.00 215,261,992,460. 84 Index ADBF Index Open 7,749.79 Index Close 7,846.40 Index Change 96.61 Index Change % 1.25 Traded 5 Declined 1 Advanced 4 Unchanged 0 Sector Capitalization 2.15262E+11 Insurance Symbol Face Val (AED) Issued Shares Last Close High 52 Low 52 Value (AED) Volume Trades Change Change % Paid Up Capital (AED) Market Cap. (AED) United Fidelity Insurance Company (P.ES.CC)) F1.00000IDELITYUNIT 100,000, 2.000 100,000,000.00 200,000, 000.00 Union Insurance Company U1.00180NION 330,939, 0.550 0.783 0.5101,639. 00 2,980. 00 1 0.000 0.00330,939, 180.00 182,016, 549.00 National Takaful Company (Watania) WWAATANIA 1.00150,000, 000 0.980 1.080 0.450 150,000,000.00 147,000, 000.00 Sharrjajah Insurance Company S1.00000ICO 137,500, 2.110 2.700 2.110 137,500,000.00 290,125, 000.00 Abu Dhabi National Takaful Co. T1.00000KFL 100,000, 5.590 6.5006.500 2.740 279.50 50.00 1 (0.290) (4.93) 100,000,000.00 559,000, 000.00 Insurance House IH1.00500118,780, 0.808 0.808 0.808 118,780,500.00 95,974, 644.00 Methaq Takaful Insurance Compnay M1.00000ETHAQ 150,000, 0.844 0.911 0.478786,455. 93 940,410. 00 22 (0.006) (0.71) 150,000,000.00 126,600, 000.00 Ras Alkhaima National Insurance Co.CRA1.00000KNI 121,275, 3.450 3.450 2.000 121,275,000.00 418,398, 750.00 AXA Green Crescent Insurance ComppCany PJSC A1.00000XAGCI 200,000, 0.700 0.740 0.323 200,000,000.00 140,000, 000.00 Al Dhafra Insurance Co. D1.00000HAFRA 100,000, 3.5503.550 3.000 100,000,000.00 355,000, 000.00 Emirates Insurance Co. EIC 1.00150,000, 000 7.0008.100 6.510 150,000,000.00 1,050,000,000. 00 Al Wathba National Insurance Co. A1.00000WNIC 207,000, 9.290 9.400 9.290 207,000,000.00 1,923,030,000. 00 Al Khazna Insurance Co. A1.00000KIC 420,000, 0.2380.238 0.238 420,000,000.00 99,960, 000.00 Al Ain Alahlia Insurance Co. A10.00000LAIN 15,000, 35.00037.000 33.000 150,000,000.00 525,000, 000.00 Al Buhaira National Insurance CompaCny A1.00000BNI 250,000, 1.800 250,000,000.00 450,000, 000.00 Abu Dhabi National Insurance ComppCany A1.00000DNI 570,000, 4.0804.080 2.700 570,000,000.00 2,325,600,000. 00 Al Fujairah National Insurance ComppCany A100.00000FNI 1,210, 245.430272.700 272.700 121,000,000.00 296,970, 300.00 Total 3,121,704,680 788,374.43 943,440. 00 24 3,376,494,680.00 9,184,675,243. 00 Index ADII Index Open 1,991.09 Index Close 1,990.76 Index Change (2.22) Index Change % (0.11) Traded 3 Declined 2 Advanced 0 Unchanged 1 Sector Capitalization 9184675243 Consumer Staples Symbol Face Val (AED) Issued Shares Last Close High 52 Low 52 Value (AED) Volume Trades Change Change % Paid Up Capital ((AAED) Market Cap. (AED) AGTHIA Group A1.00000GTHIA 600,000, 4.280 4.600 2.50011,013, 098.98 2,561, 210.00 39 (0.020) (0.47) 600,000,000.00 2,568,000,000. 00 FOODCO Holding Company F1.00000OODCO 120,000, 2.990 3.360 2.750 120,000,000.00 358,800, 000.00 Ras Al Khaimah Poultry & Feeding CoO. RA1.00000PC 86,400, 1.400 1.420 1.290 86,400,000.00 120,960, 000.00 Total 806,400,000 11,013,098.98 2,561, 210.00 39 806,400,000.00 3,047,760,000. 00 Index ADCM Index Open 8,893.86 Index Close 8,858.48 Index Change (35.37) Index Change % (0.40) Traded 1 Declined 1 Advanced 0 Unchanged 0 Sector Capitalization 3047760000 Services Symbol Face Val (AED) Issued Shares Last Close High 52 Low 52 Value (AED) Volume Trades Change Change % Paid Up Capital ((AAED) Market Cap. (AED) National Corporation for Tourism & HHotels N1.00000CT 785,862, 1.8001.800 1.350229,770. 00 127,650. 00 1 0.070 4.05785,862, 000.00 1,414,551,600. 00 National Marine Dredging Co. N1.00000MDC 250,000, 5.900 6.250 2.900115,500. 00 20,000. 00 4 0.150 2.61250,000, 000.00 1,475,000,000. 00 Gulf Medical Projects Company G1.00094MPC 698,916, 2.3302.620 1.330 698,916,094.00 1,628,474,499. 02 Emirates Driving Company D1.00400RIVE 89,786, 12.86015.740 7.960 89,786,400.00 1,154,653,104. 00 Abu Dhabi Aviation Co. A1.00200DAVIATION 444,787, 3.310 3.530 2.5203,683, 679.85 1,149, 999.00 5 0.000 0.00444,787, 200.00 1,472,245,632. 00 Abu Dhabi National Hotels Co. A1.00000,000DNH 1,000, 2.500 3.680 2.3305,000. 00 2,000. 00 1 0.170 7.30 1,000,000,000.00 2,500,000,000. 00 Total 3,269,351,694 4,033,949.85 1,299, 649.00 11 3,269,351,694.00 9,644,924,835. 02 Index ADID Index Open 2,656.58 Index Close 2,679.72 Index Change 81.85 Index Change % 3.15 Traded 4 Declined 0 Advanced 3 Unchanged 1 Sector Capitalization 9644924835 Real Estate Symbol Face Val (AED) Issued Shares Last Close High 52 Low 52 Value (AED) Volume Trades Change Change % Paid Up Capital ((AAED) Market Cap. (AED) Al Dar Properties A1.00629,603LDAR 7,862, 2.6902.920 1.35099,088, 908.35 37,098, 782.00 602 0.020 0.757,862,629,603. 00 21,150,473,632. 07 RAK Properties RA1.00000,000KPROP 2,000, 0.394 0.470 0.3271,062, 796.42 2,713, 727.00 25 0.007 1.812,000,000,000. 00 788,000, 000.00 Sharrjajah Group SG 1.0078,901, 086 0.8500.850 0.770 78,901,086.00 67,065, 923.10 Total 9,941,530,689 100,151,704.77 39,812, 509.00 627 9,941,530,689.00 22,005,539,555. 17 Index ADRE Index Open 4,042.70 Index Close 4,060.53 Index Change 32.20 Index Change % 0.80 Traded 2 Declined 0 Advanced 2 Unchanged 0 Sector Capitalization 22005539555

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