06 OCTObER 2020 | 19 SAFAR 1442 HIJRI | VOLUME NO. 08 | ISSUE 55 /emiratesbusiness.ae @emi_business emirates-business.ae

oP-ED PAGE 04 FOREX (AED) ENERGy TEN TOLA GOLD STOCK MARKET INDEX uSD 3.6800 YEN 0.0351 B r e n t Crude $41.46/bbl buLLION tata on ambani could be ’s alibaba-tencent Abu Dhabi - ADX 4,487.74 EuRo 4.3283 CHF 4.0450 WTI Crude $39.40 /bbl has a stronger pedigree than Mukesh Ambani in running consumer businesses, though some of its ventures have GBP 4.7712 CAD 2.7944 N a t u r a l G as $2.68 /MMBtu - DFM 2,224.68 flopped, writes Andy Mukherjee PRECIOUS METALS EuroPE PAGE 07 New york - NYA 12,899.24 EXCHANGE RATE Sri Lankan Rs 50.10 Gold $1,918.70/t oz europe tightens curbs as leaders gird for virus fight Indian Rs 19.84 Philippine Peso 12.95 Gold-Dubai AED231.25/gm Buy for London - UKX 5,942.94 Bangladesh Taka 22.32 (AED) 26,973.00 The continent is trying to regain control of resurgent infections, with Pakistani Rs 44.16 Silver $24.48/t oz Paris closing restaurants and new curbs likely on way in Italy, Ireland

Tuesday

Price UAE: AED 2

Mohamed, Prince of Monaco sheikh khaleD tOurs seaWOrlD abu Dhabi discuss ways to strengthen ties The two leaders also discussed latest regional and international developments during the phone call

Abu DhAbi / WAM

His Highness Sheikh Mo - hamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Monday received a tele - phone call from Prince His Highness Sheikh Mohamed bin Zayed Albert II of Monaco. Al Nahyan and Prince Albert II reviewed latest During the call, His High - ness Sheikh Mohamed and developments regarding coronavirus pandemic and Prince Albert discussed efforts being made by the UAE and Monaco to ways of boosting bilateral contain the impact of coronavirus pandemic ties and cooperation rela - tions between the two sides in several fields. cern and the two sides (Covid-19) pandemic and The talks also covered exchanged views on them. efforts being made by the latest regional and in - They also reviewed the the UAE and Monaco to His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council and Chairman of the Abu Dhabi ternational developments latest developments re - contain the impact of the Executive Office, tours SeaWorld Abu Dhabi on Yas Island, on Monday stOry On page 2 —WAM and issues of common con - garding the coronavirus coronavirus. after a DeteriOratiOn in august, the non-oil private sectors in the uae, saudi arabia and egypt improved DoF inks deal with CBUAE to facilitate fee payments Abu DhAbi / WAM the UAE’s digital transfor - Businesses return to growth mation strategy for public The Dubai Department of services. Finance (DoF) and Central Government entities in Bank of the UAE (CBUAE) Dubai and their customers in top three Arab economies signed an MoU aimed at fa - will now be able to access cilitating payment of fees CBUAE’s direct debit service owed by consumers of to facilitate customer pay - A measure of non-oil private sector activity in UAE, Saudi and Egypt rise in Dubai government entities ments through the different September above threshold of 50 that separates growth from contraction and to ultimately advance banks in the UAE.

BlooMBerg n The headline reading for Business activity in the Arab the UAE climbs to 51 in DFM, Nasdaq Dubai to world’s three largest economies returned to growth, with Egypt September from 49.4, seeing its first expansion in 14 with business conditions promote financial literacy months. improving for the third DubAi / WAM After a deterioration in August, time in four months the non-oil private sectors im - The Dubai Financial Market proved last month as companies (DFM) and Nasdaq Dubai on adjusted to economic challenges n Saudi Arabia’s PMI Monday hosted a bell ringing of the global pandemic while gov - had its first monthly ceremony with the participa - ernments eased restrictions put expansion since tion of the Securities and Com - in place to stop the coronavirus. modities Authority (SCA) on A measure of non-oil private February, advancing the occasion of World Investor sector activity in the United to 50.7 from 48.8 Week 2020, an initiative of the Arab Emirates, Saudi Arabia and International Organisation DFM and Nasdaq Dubai Egypt rise last month above the Companies in Arab world’s three largest economies adjusted to economic challenges of of Securities Commissions will organise two threshold of 50 that separates the global pandemic while governments eased restrictions put in place to stop coronavirus said the US president could leave (IOSCO) aiming to promote webinars for investors growth from contraction, ac - hospital, despite contradictory investors awareness and and brokers about cording to Purchasing Man - The latest Egypt PMI data offered more optimism accounts about his health. protection of their rights. agers’ Index (PMI) surveys Futures advanced as much as Senior officials present dur - the equity futures compiled by IHS Markit. for businesses. The non-oil economy is seeing 3.7% in New York, mirroring a ing the market-opening bell platform scheduled for The headline reading for the a modest turnaround after the devastating impact of the broader relief rally in stock mar - ringing ceremony included; launch in October UAE climbed to 51 in September coronavirus pandemic kets, after the biggest weekly Dr Obaid Al Zaabi, CEO of the from 49.4, with business condi - David Owen, Economist at IHS Markit drop since June. SCA, Hassan Al Serkal, CEO of tions improving for third time in “Oil is bouncing back as risk DFM, and Hamed Ali, CEO of the world. As part of their ac - four months and Saudi Arabia’s sentiment is recovering,” said Nasdaq Dubai, and Deputy tive participation in this initia - PMI had its first monthly expan - sales rebounded. modest turnaround after the Jens Pedersen, senior analyst at CEO of DFM, as well as senior tive, the two exchanges will sion since February, advancing “The latest Egypt PMI data of - devastating impact of the Covid- Danske Bank. “Weak fundamen - representatives from capital organise two webinars this to 50.7 from 48.8. fered more optimism for busi - 19 pandemic.” tals, in particular in light of ris - markets’ related institutions. Tuesday and Wednesday for The IHS Markit Egypt PMI nesses,” said David Owen, Meanwhile, oil rises from a ing Opec+ output amid weak World Investor Week in - investors and brokers about rises to 50.4 from 49.4 in August economist at IHS Markit. “The three-week low after a member demand, will limit the extent to cludes similar bell ringing ac - equity futures platform sched - as consumer demand and export non-oil economy is seeing a of Donald Trump’s medical team which oil prices rally.” tivities in exchanges around uled for launch this month.

RAK airport to receive UAE Etihad offers Modi’s key economic reforms stall cheap fares residents from October 15 as virus upends India’s economy to students rAs Al khAimAh / WAM Abu DhAbi / WAM

The Department of Civil Avi - PM’s administration has delayed payments it promised nation’s The UAE national carrier, ation in Ras Al Khaimah 28 states as compensation under new consumption tax regime Etihad Airways, launched its stated that expatriate resi - 'Global Student' offer to dents will be allowed to enter BlooMBerg make it easier for students the emirate through Ras Al India’s GDP contracted a to travel between university Khaimah International Air - India’s delay in appointing a new record 23.9% in the June and home or to discover port from October 15 with - central bank committee to de - new horizons and cultures. out obtaining prior cide interest rates is just the lat - quarter from a year ago, and "Students who book be - Goldman Sachs is predicting the permission, in line with the The precautionary est of Prime Minister Narendra fore November 30, for travel procedures and require - Modi’s key economic reforms economy will shrink 14.8% in by September 30, 2021, will measures to curb Covid-19 ments adopted by the coun - that are failing to gain traction fiscal year through March 2021 save up to 10% on Economy try that include undergoing include undergoing medical during the nation’s worst crisis tickets and 5% on Business medical testing and obtain - testing and obtaining a in decades. class tickets", the airline said. ing a negative result before negative result before Three of his major policies — Family members can also returning within a period not the goods and services tax, a been suspended, frustrating the discussion for years but pushed benefit from the same dis - exceeding 96 hours. returning within a period bankruptcy and insolvency law loan recovery efforts of lenders through in the first three years count provided their tickets Travellers or their sponsors not exceeding 96 hours and the Monetary Policy Com - already saddled with one of the when he first took office in 2014. are booked under the same should cover the cost of an - mittee (MPC) — have been mired world’s worst bad-loan problem. The stalling of those programs reservation and they travel other lab test or PCR test, as in problems since Covid-19 out - And on top of that, the govern - is weighing on the outlook for with the student. well as the cost of quarantine ing travel tickets and obtain - break upended economic activity. ment didn’t appoint members to Asia’s third-largest economy. Etihad said travellers who in the case of a positive result. ing tourist medical insurance. Modi’s administration has de - central bank’s MPC in time for its India’s gross domestic product book using this promotional Tourists from all countries Tourists are also required to layed payments it promised scheduled policy decision last (GDP) contracted a record 23.9% fare will have an increased may also enter the UAE undergo a PCR test four days India’s 28 states as compensa - week, delaying possible stimulus in June quarter from a year ago, baggage allowance of up to through Ras Al Khaimah In - before coming to the country, tion under the new consumption the economy desperately needs. and Goldman Sachs Group is pre - 40kg in Economy and up to ternational Airport, on condi - as well as fill in a medical dis - tax regime, increasing tension Modi has been hailed by in - dicting the economy will shrink 50kg in Business, or one ad - tion that they fulfil all the closure form for submission between the two tiers of govern - vestors for his business-friendly 14.8% in the fiscal year through ditional checked bag if travel - requirements, such as reserv - to relevant authorities. ment. The bankruptcy law has reforms, which had been under March 2021. ling to/from USA or Canada. TUESDAY 06 OCTOBER 2020 02 news

SeAWorld Abu dhabi is part of Miral’s Aed12 billion investment in developments under construction Sheikh Khaled tours SeaWorld Abu Dhabi The project will enhance existing offering on Yas Island and further position it as one of the top global destinations

ABU DHABI / WAM n In collaboration with SeaWorld Parks & Entertainment, His Highness Sheikh Khaled bin SeaWorld Abu Dhabi will bring the next generation of Mohamed bin Zayed Al Nahyan, Member of the Abu Dhabi Exec - marine life theme parks to Yas Island utive Council and Chairman of the Abu Dhabi Executive Office, n The project will be home to UAE’s first dedicated on Monday visited SeaWorld Abu Dhabi on Yas Island, of marine research, rescue, rehabilitation and return centre which construction is over 40% providing world-class facilities to support regional and complete. global conservation efforts In collaboration with Sea - World Parks & Entertainment, this landmark project will bring the next generation of marine life theme parks to Yas Island and will be home to the UAE’s first dedicated marine research, rescue, rehabilita - tion and return centre provid - ing world-class facilities to support regional and global His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council and Chairman of the Abu Dhabi conservation efforts. Executive Office, visits SeaWorld Abu Dhabi on Yas Island, on Monday —WAM

enhancing the existing offering We are proud to on the Island, further position - Once complete, the marine life theme park on Yas Island have partnered with ing it as one of the top global will offer unique immersive experiences that engage which brings more than 55 years servation and education efforts destinations. of expertise in marine conserva - in the region." The new research SeaWorld Parks & During the visit, HH Sheikh visitors from the UAE and around the world, broadening tion and world class marine centre will serve as an advanced Entertainment on this Khaled was briefed on the mul - their knowledge and appreciation of marine life animal care to Yas Island." knowledge hub for researchers, incredible project, which tiple level project with a total Commenting on the partner - scientists, and marine conserva - brings more than 55 area of approximately 183,000 ship with Miral, Scott Ross, tionists to better understand sqm, and the park’s design, broadening their knowledge thrilling and visually stunning Chairman of SeaWorld Parks & and protect the region’s marine years of expertise in which leverages SeaWorld’s and appreciation of marine life. journey from Pole to Pole, and Entertainment, said, "It’s a privi - life and ecosystem. The research marine conservation and more than 55 years of experi - SeaWorld Abu Dhabi will fea - countless interactive exhibits. lege to partner with Miral, a best- will include live studies into world class marine animal ence in marine research, con - ture six distinct realms which Mohamed Khalifa Al Mubarak, in-class organisation, to build the indigenous Gulf species such care to Yas Island servation, and animal welfare. tell a unified and immersive Chairman of Miral, said, "This is first new SeaWorld Park in over as dugongs and sea turtles, SeaWorld Abu Dhabi will fea - "One Ocean" story showing the yet another great new addition 30 years and the first outside of while further contributing to the Mohamed Khalifa Al ture purpose-built habitats and interconnectivity between all to Yas Island’s immersive attrac - North America. Yas Island is a vi - global marine science commu - Mubarak, Chairman of Miral ecosystems that will house dif - life on Earth and our oceans – tions and experiences. It will sionary and transformational nity. Additionally, the facility will ferent species together, as they "We are connected to the Ocean, help further position the island project and is already becoming extend SeaWorld’s already are in the wild. and the Ocean connects all of as a top global destination and a landmark destination for global reach and play a vital role The project, scheduled for Once complete, the marine us." Once complete, the park contribute to the growth of Abu global travellers. We are thrilled in rescue and rehabilitation completion end of 2022, will life theme park will offer will feature one of the world’s Dhabi’s tourism vision. We are SeaWorld will be a part of this efforts in the region.” be Yas Island’s next mega at - unique immersive experiences largest and most progressive in - proud to have partnered with special place, which will further traction, complementing that engage visitors from the door aquariums, an immersive SeaWorld Parks & Entertain - expand our vitally important nFor full story, read Miral’s growing portfolio and UAE and around the world, ride that takes guests on a ment on this incredible project, marine life research, rescue, con - emirates-business.ae

Dubai fines four businesses for Emirates Discounted tickets for expands its students on Etihad breaking Covid-19 guidelines European ABU DHABI / WAM Students who book before The violations were spotted in establishments located in a network The UAE national carrier, Eti - November 30 for travel by DUBAI / WAM had Airways, has launched September 30, 2021, will shopping centre as well as in , Al Dhagaya, and its 'Global Student' offer to save up to 10% on Emirates Airline has an - make it easier for students to DUBAI / WAM nounced it will resume travel between university Economy tickets and 5% on flights to Budapest (from and home or to discover new Business class tickets Field inspectors from the Com - October 21), Bologna (No - horizons and cultures. mercial Compliance and Con - vember 1), Dusseldorf "Students who book be - sumer Protection (CCCP) sector (November 1), Hamburg fore 30th November, 2020, with the student. in Dubai Economy continued (November 1) and Lyon for travel by 30th September, Etihad said travellers who their visits to a number of open (November 4), expanding 2021, will save up to 10% on book using this promotional markets and shopping centres its European network Economy tickets and 5% on fare will have an increased across the emirate to make sure to 31 destinations, and of - Business class tickets", the baggage allowance of up to that commercial establishments fering customers around airline said in a statement on 40kg in Economy and up to commit to the precautionary the world convenient Monday. 50kg in Business, or one ad - measures against Covid-19. connections via Dubai. Family members can also ditional checked bag if trav - During the tours, Dubai Econ - The addition of these benefit from the same dis - elling to/from USA or omy imposed fines on four com - five destinations takes count provided their tickets Canada. One free date change mercial establishments for Emirates' global network are booked under the same is permitted up to 96 hours employees’ lack of commitment to 99 destinations, as the reservation and they travel prior to travel, it added. to wearing masks. The violations ported by consumers and the airline continues to grad - were spotted in establishments Dubai Economy reminded public. The disciplinary action is ually meet travel demand, located in a shopping centre as meant to be a deterrent against while always prioritising well as in Naif, Al Dhagaya, and that stern action will any violation or abuse. the health and safety of Ayal Nasir areas, and their activ - be taken against any Dubai Economy called on its customers, crew and UAE reports 89,410 total ities included retail, textile and non-compliance with the everyone to cooperate and con - communities. fabric trade, perfume trade, and precautionary measures tribute to keeping the emirate’s Flights to/from Bu - recoveries from Covid-19 sewing and embroidery. found during its inspections economy moving forward. The dapest and Lyon will op - As part of educating establish - or that may be reported by precautionary measures have erate twice a week on ABU DHABI / WAM of coronavirus cases and carry ments on importance of precau - seen a gradual return to normal Wednesdays and Satur - out the necessary treatment. tionary guidelines, and their role consumers and the public and safe economic activities in days while flights to/from The Ministry of Health and Pre - As part of its intensified test - in ensuring business continuity Dubai, leading to the opening of Bologna, Dusseldorf and vention (MoHAP) conducted ing campaign, MoHAP an - as well as in protecting their em - all sectors and economic reset. Hamburg will operate 87,669 additional Covid-19 nounced 932 new coronavirus ployees and customers alike, the the precautionary measures. Dubai Economy also called on twice a week on Fridays tests over the past 24 hours, cases, bringing the total number field inspection teams also Stressing that public health is everyone to report any non-com - and Sundays. using state-of-the-art medical of cases in the UAE to 99,733. warned two other businesses a top priority, Dubai Economy pliance to precautionary guide - All flights to the five testing equipment. The ministry also noted an ad - for not placing the physical reminded that stern action will lines through Dubai Consumer cities will be operated by In a statement, the ministry ditional 1,287 individuals had distancing stickers as required. be taken against any non-com - app available on the Apple, the Boeing 777- 300ER, stressed its aim to continue ex - fully recovered from Covid-19, Overall, inspections found that pliance with the precautionary Google, and Huawei stores, by providing robust cargo panding scope of testing nation - bringing the total number of 733 shops and commercial es - measures found during its in - calling 600545555, or by visiting capacity on each flight. wide to facilitate early detection recoveries to 89,410. tablishments fully complied with spections or that may be re - consumerrights.ae website. FYA inaugurates ‘Young Economists Programme’ The initiative aims to develop the skills of the youth and prepare a future generation of Emirati economic experts

DUBAI / WAM most diverse economy in the re - The youth today are real investment the country is betting on gion and the second-largest The Federal Youth Authority to build its future, and the government is prioritising the Arab economy, in which oil rep - (FYA) held the first introduc - resents only 30 percent. He also tory meeting involving 50 efforts to improve their skills and capacities and ensure spoke about the UAE’s infra - young people from the first their empowerment, to enable them to perform their structure, which is among the batch of the "Young Economists key role in development process, said Abdulla bin best in the world, as well as its Programme." facilities, airports, ports and The programme was organ - Touq Al Marri, Minister of Economy national companies that are ised by the FYA under the pa - capable of competing globally. tronage of HH Sheikh Hamdan The UAE’s business environ - bin Mohammed bin Rashid Al Nazari, Director-General of the betting on to build its future, ment has witnessed progress Maktoum, Crown Prince of Authority, and representatives and the government is prioritis - through focussing on digital Dubai, to prepare a new genera - of national media outlets. ing the efforts to improve their transformation and supporting tion of national economic lead - In his speech, Al Marri skills and capacities and ensure small and medium-sized enter - ers and equip them with the praised the unlimited support their empowerment, to enable prises and emerging companies most advanced economic knowl - The “Young Economists Programme” will to prepare a new generation of national economic of Sheikh Hamdan bin Mo - them to perform their key role based on innovation, especially edge and global expertise, to en - leaders and equip them with the most advanced economic knowledge and global expertise, hammed for the youth and his in the development process, he in priority areas, such as the able them to create innovative to enable them to create innovative economic visions leading efforts in the area of added. fourth industrial revolution, Ar - economic visions. youth empowerment, stressing During the meeting, Al Marri tificial Intelligence, and re - The first batch involved in the programme comprises 80 train - pants took part in a meeting that the programme will sup - highlighted the significant de - search and development, he three-month programme was ing workshops on economic held at the Youth Centre in the port the country’s work to de - velopment witnessed by the na - further added. selected after a special jury topics, as well as interviews Emirates Towers, which was at - velop the skills of its young tional economy and its capacity "The programme aims to de - shortlisted the best candidates with leaders and policy-makers tended by Abdulla bin Touq Al citizens and involve them in to shift from an oil-based econ - velop the skills of the youth and from a list of 650 applicants and from national and international Marri, Minister of Economy, shaping the future economy. omy that depended on oil and prepare a future generation of held personal interviews to se - economic establishments. Shamma Al Mazrui, Minister of The youth today are the real gas by 80 percent just after the Emirati economic experts," Al lect 50 for the final stage. The The programme’s partici - State for Youth Affairs, Saeed Al investment that the country is country’s establishment to the Mazrui said. TUESDAY 06 OCTObEr 2020 ENERGY 03 Green electricity provider to create 1,000 new jobs in UK BloomBerg wick and Leicester. It will also CEO Greg Jackson said Octo - build a technology, data science Octopus Energy said it pus’s Kraken technology had A UK clean energy company is and artificial intelligence center wants to make the UK the the same potential as Apple’s seeking to create 1,000 jobs by in Manchester, in the north of App Store when it was first the end of next year, expanding England. Prime Minister Boris “Silicon Valley of energy” launched. its technology to simplify the Johnson, who is seeking to and detailed a plan to “Through Kraken, our cloud- way consumers buy electricity. boost green jobs as a way to expand its cloud-computing based energy platform, we’re Octopus Energy said it wants help the UK economy recover platform which aims to revolutionising the energy in - to make the UK the “Silicon Val - from the coronavirus pandemic, dustry in the same way, creating ley of energy” and detailed a welcomed the company’s an - make it cheaper for people jobs not just through increased plan to expand its cloud-com - nouncement. to use renewable energy demand for affordable renew - puting platform, known as “It’s UK tech companies like ables, but by facilitating the Kraken, which aims to make it Octopus who will ensure we development of new and easier and cheaper for people to to graduates and will help Octo - statement by the company. Po - continue to build back greener leading the path to net zero emerging industries like electric use renewable energy. pus double its workforce by the sitions will be spread across its and remain a world leader in pi - whilst creating thousands of vehicles, electric heating and The new jobs will go mainly end of 2021, according to a sites in London, Brighton, War - oneering renewable energy, skilled jobs,” Johnson said. vertical farming,” Jackson said.

NOTICE NOTICE NOTICE EXPERT MEETING

the gulf time — Date:06-10-2020

AL HILAL CAPITAL Announcement of an Expert Meeting for case No. the gulf time — Date:06-10-2020 the gulf time — Date:06-10-2020 the gulf time — Date:06-10-2020 1391/2020 Commercial, summary Developer’s name: AZIZI DEVELOPMENTs L L C Developer’s name: AZIZI DEVELOPMENTs L L C Developer’s name: AZIZI DEVELOPMENTs L L C Purchaser’s name: FURKAT URAKBAEV Purchaser’s name: MOHD KAMAL MOHD KHALIL Purchaser’s name: HIsHAM HAMID MOHAMMED MAHMOUD Appellant: samba financial group (Dubai BR) Lawyer: Alwasl International Group Advocates & Legal Consultants The above mentioned developer claims that you have The above mentioned developer claims that you have The above mentioned developer claims that you have VS: Jiffy Cabahug Regner defaulted in the payment of installment/installments of defaulted in the payment of installment/installments of defaulted in the payment of installment/installments of With reference to the AbuDhabi Court’s book dated the price for unit No (AZIZI sAMIA / 422 ) project (Azizi the price for unit No (Azizi Riviera 20 / 920) project (Azizi the price for unit No ( AZIZI SAMIA / 324 ) project (Azizi 05/10/2020 which includes my assignment as an expert in the Samia Residence) Dubai. Riviera 20) Dubai. Samia Residence) Dubai. above-mentioned case, we inform you that it was decided In accordance with law no (13) of 2008 as amended, In accordance with law no (13) of 2008 as amended, In accordance with law no (13) of 2008 as amended, to hold an expert meeting in the aforementioned case on Wednesday 14/10/2020 at 11:00 AM, provided that the and its Executive Regulations, Dubai Land Department and its Executive Regulations, Dubai Land Department and its Executive Regulations, Dubai Land Department defendants commit to contacting The expert's office to inform ‘DLD’, hereby notify you to rectify the default within (30) ‘DLD’, hereby notify you to rectify the default within (30) ‘DLD’, hereby notify you to rectify the default within (30) him of the procedures and mechanism used to hold the days as of the date of publication of this notice. days as of the date of publication of this notice. days as of the date of publication of this notice. meeting to be held on the date and time indicated above ... If you fail to pay the amount due within the specified If you fail to pay the amount due within the specified If you fail to pay the amount due within the specified Note that the contact information with the expert's office is: Phone number 04/2999000, e-mail: [email protected] period, DLD shall take the necessary legal proceeding period, DLD shall take the necessary legal proceeding period, DLD shall take the necessary legal proceeding pursuant to clause No (11) of the aforesaid. pursuant to clause No (11) of the aforesaid pursuant to clause No (11) of the aforesaid. Expert / Ahmed Majed Lootah - Registration number (392)

the gulf time the gulf time the gulf time the gulf time Date:06-10-2020 Date:06-10-2020 Date:06-10-2020 Date:06-10-2020 Date: 10/04/2020

UNITED ARAB EMIRATEs GOVERNMENT OF RAs AL KHAIMAH GOVERNMENT OF RAs AL KHAIMAH GOVERNMENT OF RAs AL KHAIMAH MINIsTRY OF JUsTICE Courts Department Courts Department Courts Department sHARJAH FEDERAL COURT OF APPEAL CAsE MANAGEMENT OFFICE Courts Department — Experts Management office Notarial Notice - Attestation No. 14255/2020 Notarial Notice - Attestation No. 14257/2020 service of summons before experts committee Notifier: Abdulla saeed Mohamed Rashed Al Hefeiti – UAE national Notifier: Abdulla saeed Mohamed Rashed Al Hefeiti – UAE national Notification by Publication, Case No. 481/2020 Commercial Partial — Address: Ras AL Khaimah, Dhait, behind Ramez- Mob: 0505799666 Address: Ras AL Khaimah, Dhait, behind Ramez- Mob: 0505799666 Ras Al Khaimah Courts Notified Party: Weerapurage Bhagya Anjana Rathnapala , Sri Lanka national, Al Fujairah — Hamad Bin Notified Party: Cristine Ornales Ilumba , Philippine national, Al Fujairah — Hamad Bin Abdulla — to attend before Case Management Office Abdulla Street- Tadbeer Al Amwaj Center — Mob: 0502496012 Mob: 0564166006

In two newspapers, one of which is an English Plaintiff Company: Latitude Industrial supplies subject: Notice for payment subject: Notice for payment By power of attorney: Ameera AlBastaki Advocates and Legal Consultants The notified party issued cheque no. 000016 dated 09/02/2020 drawn on National Bank of Fujairah in The notified party issued cheque no. 500001 dated 05/03/2020 drawn on Abu Dhabi Islamic Bank in In the appeal No. sHCAPCICIVs2020/0001357 favor of the notifier. When the notifier submitted the cheque amounting AED 250,000 (two hundred favor of the notifier. When the notifier submitted the cheque amounting AED 200,000 (two hundred fifty thousand) to the bank, he found that there is no sufficient balance which confirms the bad faith thousand) to the bank, he found that there is no sufficient balance which confirms the bad faith of Defendant: Guerilla Defense Trading FZCO of the notified party who issued the cheque. the notified party who issued the cheque. Upon the request of the appellant: Fatima Abdulla The notifier requested the notified party frequently to pay him the amount of the cheque but the The notifier requested the notified party frequently to pay him the amount of the cheque but the It is important to attend the meeting throughout Cisco Webex Meeting notified party requested to wait to arrange the cheque value for many times then refrained from notified party requested to wait to arrange the cheque value for many times then refrained from soleimani L.L.C with the abovementioned experts committee and bring all documents paying the said amount till the date of this notice, therefore the notifier is forced to send this notice to paying the said amount till the date of this notice, therefore the notifier is forced to send this notice to and files supporting you in case No. (481/2020) Commercial Partial — the notified party to pay the cheque value of AED 250,000 immediately. the notified party to pay the cheque value of AED 200,000 immediately. To the Respondent: Muhammad Abdullah Ibrahim And whereas article (401) of federal penal code no. 4/2019 stated: - ((Detention or a fine shall be And whereas article (401) of federal penal code no. 4/2019 stated: - ((Detention or a fine shall be Ras Al Khaimah Courts on Tuesday 13/10/2020 at 10:00 am. imposed upon anyone who, in bad faith, gives a draft (cheque) without a sufficient and drawable imposed upon anyone who, in bad faith, gives a draft (cheque) without a sufficient and drawable You are instructed to attend before the case management You should download Cisco Webex. If you want to attend the meeting balance or who, after giving a cheque, withdraws all or part of the balance, making the balance balance or who, after giving a cheque, withdraws all or part of the balance, making the balance insufficient for settlement of the cheque, or if he orders a drawee not to cash a cheque or makes or insufficient for settlement of the cheque, or if he orders a drawee not to cash a cheque or makes or office No 1, at Sharjah Court of appeal on sunday through Mobile, you should download webex meet from play store of signs the cheque in a manner that prevents it from being cashed. signs the cheque in a manner that prevents it from being cashed. its iPhone and android. The same penalty shall apply to any one who endorses a cheque in favor of another or gives him a The same penalty shall apply to any one who endorses a cheque in favor of another or gives him a 18/10/2020 , personally or by approved attorney and And bearer draft, knowing that there is no sufficient balance to honor the cheque or that it is not bearer draft, knowing that there is no sufficient balance to honor the cheque or that it is not Expert's room number in the program: 841-523-230 drawable)). drawable)). submit a Rejoinder memo on the above-mentioned case , And whereas article 282 of Civil Transactions Law stated that:- ((The author of any tort , even if not And whereas article 282 of Civil Transactions Law stated that:- ((The author of any tort , even if not discerning , shall be bound to repair the prejudice)), and since the notified party has caused damage accompanied with all documents. Ras Al Khaimah Courts discerning , shall be bound to repair the prejudice)), and since the notified party has caused damage to the notifier. to the notifier. Experts Management office Therefore, Therefore, We notify you of the necessity to pay AED 200,000.00 (two Hundred Thousand Dirhams), being the 30/09/2020 Accounting Experts We notify you of the necessity to pay AED 250,000.00 (two Hundred fifty Thousand Dirhams), being the NOUR AZAR value of the said cheque, within five days maximum from the date of this notice; otherwise we will be value of the said cheque, within five days maximum from the date of this notice; otherwise we will be Case Management Office forced to proceed with the legal procedures against you- and you shall bear all expenses and fees. forced to proceed with the legal procedures against you- and you shall bear all expenses and fees. (There is a signature) This is for your information and to be legally enforced against you. This is for your information and to be legally enforced against you. //signed// (There is seal of Ras Al Khaimah Courts) Notifier: Notifier: Abdulla saeed Mohamed Rashed (Signed) Abdulla saeed Mohamed Rashed (Signed)

the gulf time the gulf time the gulf time the gulf time Date: 06-10-2020 Date: 06-10-2020 Date: 06-10-2020 Date: 06-10-2020 Notice date: 27/09/2020 Date : 20/09/2020 Date of publication: 05/10/2020 Notice No.147779/2020 Notification No. : 143270/2020 Publication No.: 19419/2020 GOVERNMENT OF DUBAI GOVERNMENT OF DUBAI GOVERNMENT OF DUBAI GOVERNMENT OF DUBAI DUBAI COURTs DUBAI COURTs DUBAI COURTs DUBAI COURTs Dubai Commercial Court of First Instance Commercial Partial 914/2020/16 Real estate Partial 18/2019/338 Notification by Publication Case Inquiry - 10-05-2020 Notification Memo by Publication Notification by publication In lawsuit 305/2020/2241 Commercial Appeal service Details service by Publication 28-09-2020 020/148437 Case No. 2323/2020/16, Commercial Partial subject matter of the lawsuit : claiming nullity and revocation of the reservation subject matter of the lawsuit : appeal the judgment issued in the lawsuit service by Publication The subject Matter of the Lawsuit: form and contract dated 12/04/2006 and 10/03/2008, and return the No. 1337/2020 full commercial, plus the fees and charges. - The claim to enforce the defendants to pay jointly and solidarity to the plaintiff an amount of contracting parties to the status they were before contracting and obligate the To the Defendant: 1. Abdullah Murad Hasan AED 214,408.11 (Dhs. two hundred fourteen thousand four hundred eight and eleven fils only. the defendants jointly to pay an amount of ( AED 253038.65) with 12% the legal Address: Unknown - Enforcing the defendants jointly and solidarity to pay the agreed interests of 1.5% per month interest From 12/04/2006 , plus the fees , expensive and attorneys' fees. And the Axis bank limited ( formerly known as UTI bank limited) from the date of the legal notice dated 19/04/2020 until the full payment and the judgment shall be self-executing immediately without bail. judgement shall be self-executing immediately without bail. His capacity in the case: appellant The Plaintiff (National Bank of Ras Al-Khaimah PSJC) brought a lawsuit - To obligate the defendants jointly and solidarity to pay charges, expenses and the attorneys' fees. Notifier : GINA DANIELA ALBU His capacity in the case: plaintiff against you; petitioning the court, in accordance with what it deems Notifying Party: Diamond Meat Processing LLC Plaintiff Party to be notified: more general and comprehensive reasons, to respond to the following Represented by Abdullah Husain Bakhit Hudaijan Attorney 1- Asian Ispat FZ-LLC His capacity in the case: appellant requests: Notified Party: 2- JEAN PIERRE ROBERT GARAT Defendant Party to be notified: Unknown residence. XANADU REAL EsTATE DEVELOPMENT L.L.C His capacity in the case: litigant 2- Pardeep Aggarwal so Ram kumar His capacity in the case: appellant - Registering the lawsuit, fixing the nearest hearing and giving a Unknown residence 3- Vijas Aggrewal Ram kumar Aggarwal His capacity in the case: appellant permission for serving a notice on the Defendants, The subject Matter of the Notice: - Compelling the Defendants to jointly and under the solidarity principle We hereby notify you that the plaintiff has filed against you the aforementioned lawsuit the subject matter of the claim to enforce the defendants to pay jointly and solidarity to the subject of the notification : subject matter of notification: pay the Bank (Plaintiff) a sum of 275,488.33 AED (Two hundred seventy plaintiff an amount of AED 214,408.11 (Dhs. two hundred fourteen thousand four hundred eight Whereas the plaintiff has file a case and its subject , claiming nullity and Has appeal judgment issued in the lawsuit No. 1337/2020 Commercial five thousand, four hundred eighty-eight dirhams and thirty three fils), and eleven fils only. revocation of the reservation form and contract dated 12/04/2006 and - The judgment to be self-executing without bill, and Enforcing the defendants jointly and solidarity to pay the agreed interests of 1.5% per month 10/03/2008, and return the contracting parties to the status they were before Appeal, plus the fees and charges. from the date of the legal notice dated 19/04/2020 until the full payment and the judgment contracting and obligate the the defendants jointly to pay an amount of ( AED The court scheduled a hearing on Wednesday 14/10/2020 at 10:00 AM, - Compelling the Defendants to pay the fees, expenses and attorney's fees. shall be self-executing immediately without bail. To obligate the defendants jointly and solidarity to pay charges, expenses and the attorneys' fees. 253038.65) with 12% the legal interest From 12/04/2006 , plus the fees , expensive in the remote courtroom, so you shall attend personally or by your IN WITNEss WHEREOF, you or your authorized representative are requested to appear before and attorneys' fees. And the judgement shall be self-executing immediately approved attorney, failing which you will be judged in absentia Whereas it was scheduled to be heard on Sunday 11-10-2020 at 8:30 the remote litigation hall "BUILDING_DESC" on Sunday, 11-10-2020 at 08:30 am to submit your without bail. The court scheduled a hearing on Sunday 11/10/2020 at 08:30 AM am at the remote litigation chamber, legal notes or the documents to the court at least three days before the hearing. the remote courtroom at building-DESC , so you shall attend personally or by Case manager Therefore, you and/or your legal representative are required to appear your approved attorney and submit your memo or documents to the court at to submit your briefs and documents to the court within at least three Case Manager Obaid saeed Obaid Mohamed Al Ari Nada Abdul Qader Al-Khamri least three days prior to the session. days before the hearing. Dubai Courts

the gulf time the gulf time the gulf time the gulf time Date: 06-10-2020 Date: 06-10-2020 Date: 06-10-2020 Date: 06-10-2020 Notice Date: 05/10/2020 Notice Date: 05.10.2020 Date of Service : 05-10-2020 Date of notice: 30-09-2020 Notice Number: 152024/2020 Notice No.: 152089/2020 Service No : 151938/2020 Notice No.19000/2020 GOVERNMENT OF DUBAI GOVERNMENT OF DUBAI GOVERNMENT OF DUBAI GOVERNMENT OF DUBAI DUBAI COURTs DUBAI COURTs DUBAI COURTs DUBAI COURTs Dubai Court of First Instance sERVICE BY PUBLICATION Notification by Publication Notice of service by Publication In the case No 3592/2020/16, Partial Commercial In the Commercial Case No. 746/2020/20, Plenary Notice by way of publication In connection with lawsuit No. 509/2020/322- Real In the matter of the Case No. 22/2019/429 Civil Plenary Case subject : Estate Appeal To The Defendant : 1- Bavaguthu Raghuram Shetty Motion to obligate the defendants to jointly pay to the claiming bank the (Debt Guarantor/ MODULAR CONCEPTS L.L.C Party to be notified: 1. T A G Stealth Shipping LLC, capacity in the case: amount of AED 5,645,900.47 (Five Million, Six Hundred Forty-Five Thousand, Nine subject of the Action impleaded party Hundred Dirhams and Forty-Seven Fills) plus the legal interest of 12% from the Of unknown location. Appeal of the judgment issued in lawsuit No. 698/2017, Plenary Real- Of unknown residence. date of maturity until full repayment, expenses, costs and lawyer's fees. Estate, with the legal fees, expenses and advocacy charges. Applicant for the Notice: Brit Syndicates Limited - capacity in the case: The Claimant : Commercial Bank International (P.J.S.C) Claimant service Applicant : UNITED ARAB BANK PJSC Capacity: Plaintiff Party to be served: Notifying Party: Abdullatif Mohammad Ibrahim Abdulla Al Banna Represented by Abdul Rahman Naseeb Abdul Rahman Bin Naseeb (1) N.I.K GENERAL TRADING L.L.C Capacity: Defendant Capacity in the Lawsuit: Appellant subject of the Notice: (2) Kamyar Hamid Minaji Moghaddam Capacity: Defendant Whereas the claimant, has filed the case against you the subject of (3) Maziar Hamid Minachi Moghaddam Capacity: Defendant subject of the Notice : A case has been filed against you and its subject which is a claim to order the Respondent to pay a sum of GBP 1,140,000 Party to be notified: 1-Vakson Freehold Properties(LLC) is to obligate the Defendants, jointly and severally, to pay the Claimant Capacity in the Lawsuit: Respondent or equivalent to AED 5,194,013.70 together with the expenses, fees and service subject: bank the sum of AED 83, 357,285.42(Eighty Three Million Three Hundred attorneys' fees plus the interest at the rate of 9% from the date until the The said case was filed against you regarding the motion to obligate the Fifty Seven Thousand Two Hundred Eighty Five Dirliams and Forty Two Fils date of full payment and to have the judgment urgently executed defendants to jointly pay to the claiming bank the amount of AED 5,645,900.47 subject of the notice without surety. (Five Million, Six Hundred Forty-Five Thousand, Nine Hundred Dirhams and Forty- The judgment/ruling issued in connection with Plenary Real-Estate only) along with the legal interest of 12%, fees, expenses and attorney's lawsuit No. 698/2017 has been appealed and said appeal is set to be fees. Seven Fills) plus the legal interest of 12% from the date of maturity until full A hearing has been scheduled on Wednesday 07.10.2020, at 08:30 a.m. repayment, expenses, costs and lawyer's fees. A hearing thereof was scheduled heard at 10.00 am on Wednesday, corresponding to 07-10-2020 at the The hearing is scheduled to be on Monday 12/10/2020, at 09:30am in at the courtroom BUILDING_DESC. So, you are required to attend in for Thursday, 22-10-2020 at 08:30 am at the Remote Liitigation Chambers remote court room. You are hereby requested to attend the the remote courtroom (Ch 2.E.22&BUILDING DESC). Therefore, you are person or through your legal representative. You are required to submit BUILDING_DESC&. Therefore, you are required to attend personally or through aforementioned hearing either in person or through your legal required to appear or your legal representative and you shall submit all your memoranda or documents to the court at least three days before a legal representative to present the memoranda and supporting documents representative. Should you fail to attend, you will be tried in absentia. thereof to court at least three (3) days prior to the hearing date. the memorandums and documents in your possession to the court at the hearing. least three days before the hearing. Case Manager Case Manager Dubai Courts. Jawaher Juma Aaten saeed Al Katbi Obaid said Obaid Mohammad AlMerry

the gulf time the gulf time the gulf time the gulf time Date:06-10-2020 Date:06-10-2020 Date:06-10-2020 Date:06-10-2020 Service Date: 01/10/020 Service No: 150661/2020 GOVERNMENT OF DUBAI GOVERNMENT OF DUBAI GOVERNMENT OF DUBAI DUBAI COURTs DUBAI COURTs GOVERNMENT OF DUBAI DUBAI COURTs Notification by Publication Notification by Publication DUBAI COURTs service by Publication No. (5077/2020) No. (5311/2020) On Case No. (18/2020/793) Real Estate, Restricted Jurisdiction Details of the Notification by Publication The warner: sky Courts (LLC) The warner: General Enterprises Mechanical and Electrical Contracting subject of Case: By power of attorney of lawyer / Ahmed Hassan Al Mazmi company - GECO Rescinding the lease-to-own contract dated 08/07/2008, handing over To the Appellee : Al Ahlia General Insurance Brokers LLC Warned parties: Absolute F and P Establishments Management (LLC) By power of attorney of lawyer / Ahmed Hassan Al Mazmi the unit with the consequences resulting therefrom — and claiming an Therefore, by virtue of this notification we inform you with the necessity Unknown Domicile amount of AED 62,888 representing the unpaid rental value, (overdues) Warned parties: of obliging you to pay the rental value of (396,662) dirhams in addition contrary to what is new until the property is handed over to the Plaintiff, 1- Fishno shagi shagi Vitaterbel Raghafan (Indian nationality) Whereas The Appellant : Al sagar National Insurance to the payment delay fine and bounce of the checks agreed upon in free of occupancy and people, and the compensation of AED 121,642. 2- shagi Building Contracting LLC Company- Public Joint stock Company Service Applicant: AMLAK FINANCE (PJsC) Capacity: Plaintiff the lease contract totaling (14,000) dirhams with the necessity to quickly Therefore, by virtue of this letter we warn you with the necessity of To be served on: 1- Aodwan Ahmed Rafiee Capacity: Defendant evacuate the leased units demonstrated in the above table. That is paying the above check amount 217.500 dirhams (two hundred Represented by : Ziyad Abdullah Ibrahim Galadari within 30 days from the publication date pursuant to the provisions of subject of service seventeen thousand and five hundred dirhams) to the notified party. Article 25/H of the Lease Law in the Emirate of Dubai, provided that the The Plaintiff filed case against you for rescinding the lease-to-own That is within, five days from the publication date, otherwise we will be Has appealed the Decision/Judgment rendered in the contract dated 08/07/2008, handing over the unit with the leased property is delivered free of any concerns, while obliging you to forced to adopt all legal procedures against you, and at your consequences resulting therefrom — and claiming an amount of AED pay the rent amount until the leased property is completely handed Lawsuit No. 499/2020- Civil Partial and a hearing is set for the responsibility and expense, while preserving all of other legal rights for 62,888, representing the unpaid rental value. (overdues), contrary to over, with your obligation to pay the governmental tax for the entire same on Thursday corresponding to 08/10/2020 at 10:00 am what is new until the property is handed over to the Plaintiff, free of any party. period of the contract until the actual evacuation, and your obligation at the Remote Litigation Chamber. Therefore, you are occupancy and people, and the compensation of AED 121,642 to hand over the notifier disclaimer from the Electricity and Water The case is scheduled at the hearing of Tuesday 13/10/2020 , at 08:30 Authority, otherwise we will be forced to adopt all legal procedures Notary Public required to attend personally or via your legal am, in Remote litigation Chamber & Building DESC stamp against you, and at your responsibility and expense, while preserving all representative and in case you fail to attend, you will be Therefore, you are required to appear in person or by a legal attorney of other legal rights for any party. Dubai Courts and submit your pleadings or exhibits to the court not less than three Notary Public prosecuted in absentia. days before the hearing. Notary Public /stamp/ 01 October 2020 Case manager /Al-Murr Ahmed Abdullah Khamis Al-Murr/ Dubai Courts /Notary Public/ 28 september 2020/

the gulf time the gulf time the gulf time the gulf time Date:06-10-2020 Date:06-10-2020 Date:06-10-2020 Date:06-10-2020

Notification date: 04/10/2020 Date : 04/10/2020 Notification no.: 151348/2020 Notification No. : 151275/2020 GOVERNMENT OF DUBAI GOVERNMENT OF DUBAI GOVERNMENT OF DUBAI DUBAI COURTs GOVERNMENT OF DUBAI DUBAI COURTs DUBAI COURTs DUBAI COURTs Notification by Publication Notary Notice by publication No. (2020/5420) Commercial Partial 16/2020/3486 No. (2020/5232) Notification by Publication In Lawsuit no. 3250/2020/16 commercial partial The Notifying Party: Dr. Al sabbhan Legal Group- Lawyers & Advocates Notification by publication Notifier : Al Arz Automatic Bakery L.L.C and Legal Consultants Details of Notification: By the attorney of : Zayed Al shehi subject: For the owner Dr. the lawyer/ Fahad lbrhaim Abdulrhman Mohameed, The first Notified party : PH7 Catering services L.L.C , legally represented To the defendant : MD ABUL LAIs CHOWDHURY To compel the Defendant to pay an amount of (AED 41232.30) with the represented by Mr. Ahmed Yassir Elrefaei as per POA duly attested by the appointed liquidator Ismail Hajeir Auditing of Accounts Unknown residence charges, expenses, attorney's fees and interest at 12% from the date of under No 98242/1/2018 dated/ 29/04/2018 by the notary public in Dubai The second Notified party: Tareq Ali Albarkawi, USA national Whereas the plaintiff : Ziping Zhang claim until full payment. The Notifying party: Franco Favilla - Italian National, holding passport No Unknown residence Represented by Zayed saeed Rashed saeed Al shehi Plaintiff: Wisdom Link Transport L.L.C Title: Plaintiff (YA3261074) Whereas the plaintiff has file a case and its subject, revoke and The notifier hereby warns the notifies partis under this notice to pay an Defendant: Crystal star Bottled Water LLC Title: Defendant amount of AED 113,228.47 (One hundred thirteen thousand, two subject: terminate the lease contract for the shop mentioned in this memo and hundred twenty-eight dirham and forty-seven fils) within five (5) working subject of the lawsuit: The notifying party notifies the notified party to pay the amount of signed between the defendant and plaintiff, under this lease contract, the plaintiff leased the said shop from the defendant, and obligating days from the date of publish this notice , otherwise the notifier will take Has instituted a lawsuit against you to compel the Defendant to pay an (21,841,314.66) dirhams (twenty-one million eight hundred and forty-one the defendant to return to the plaintiff the cheques nos. (000008, the legal measures against you to collect the due amount in addition amount of (AED 41232.30) including, charges, expenses and attorney's thousand three hundred and fourteen dirhams and sixty-six fils) and the 000011, 000012, 000013, 000014, 000015 and 000016 ) issued by the to the legal interest and the compensation against the damages fees besides interest at 12% from the date of claim until full repayment, interest of 9% from the due date on 21-07-2019 until complete payment plaintiff to the defendant, which drawn on Emirates NBD bank, and expenses that the notifier has incurred, plus fees, litigation charges and to the notifying party within 5 days From the date of notifying the notified therefore, you requested to appear before court, either in person or by obligating the defendant o pay the fees , expensive and attorneys' fees. attorneys' fees the and the judgement shall be self-executing a legal proxy your to submit all memos or documents you have on party with this notice, otherwise the notifying party will be forced to take immediately without bail. The court scheduled a hearing on sunday 18/10/2020 at 08:30 AM the 11/10/2020 at 08:30 am at the remote chamber, Building_DESC at least all legal procedures against the notified party so as to claim the remote courtroom at building-DESC, so you shall attend personally or 3 days before hearing. aforementioned amount, while preserving all the rights of the notifying Notary public by your approved attorney and submit your memo or documents to the party against notified party. signed court at least three days prior to the session. tuesday 06 october 2020 04 OPINION The gulf Time Tata on Ambani could be

Chairman of ThE board Saeed Saif India’s Alibaba-Tencent Ratan Tata has a stronger pedigree than Mukesh Ambani in running consumer businesses, though some of its ventures have flopped Tel: 02-4468000, Fax: 02-4485401 Website: www.emirates-business.ae Email: [email protected], [email protected], [email protected] Printed at: al Wathba Printing Press

Andy Mukherjee

Trump illness exposes ust as the Chinese duo of Jack Ma and Pony Ma Jhave carved up major basic market tension chunks of their country’s in - ternet businesses, the battle osses in the main US stock indexes will go down in history simply as for control of 1.3 billion Indi - small ones in an otherwise choppy week. But assessed in more detail, ans’ data could become a Lthey provide a remarkable example of the intense tug-of-war that now two-horse race. grips markets and will most likely persist, if not intensify, in the weeks ahead. The contest would get Two news developments dominated the run-up to the US market open. under way if, as reported by If India’s richest tycoon Mukesh Ambani wants to spawn India’s Tencent, Ratan Tata, 82, can aim to launch its Alibaba First and foremost was the middle-of-the-night tweet from President Don - Bloomberg News , ald Trump confirming that he and his wife had tested positive for Covid-19. Pvt brings in financial or subscribers for his 4G fload its mobile service busi - The immediate reaction in the futures market included an indication of a 500- strategic investors. telecommunications net - ness. It’s a 51% partner in a The 152-year-old Tata point drop in the Dow Jones Industrial Average at the open consistent with The holding company of work. He also has India’s low-cost domestic airline, the uncertainties triggered by the news — from concerns about their health the $113 billion coffee-to- largest retail chain. The kind though India’s aviation min - Group is talking to and that of other White House and congressional officials, as well as that of cars conglomerate may be of super-app that has suc - ister has said publicly that Walmart Inc for a former Vice President Joe Biden, to the implications for the elections, fiscal taking a leaf from the play - ceeded in China and South - the unit is close to shutting $25 billion investment in stimulus and the economy. Few readily available answers cast an even larger book of Mukesh Ambani, east Asia requires a reason shop. To prevent that, Ratan a “super-app,” a cloud of unpredictability over the economy and markets. who has raised $20 billion for customers to visit it reg - Tata may also have to buy An hour before markets opened, investors received a second piece of un - this year from the likes of ularly. Commerce is inciden - out Malaysian entrepreneur multipurpose online settling news from the monthly US jobs report. Employment creation in Sep - Facebook Inc, Alphabet Inc, tal. Jack Ma’s Alibaba Group ’s AirAsia platform combining tember fell short of consensus expectations, amounting to less than half the Silver Lake Partners and oth - Holding Ltd has its popular Group Bhd, the 49% partner. fashion, lifestyle and tally for August. This confirmed other indicators that have suggested that the ers for his digital assets. Alipay wallet. Pony Ma’s Aviation will require electronics retail, food pace of the economic recovery is moderating, falling further behind what is Ambani, India’s richest ty - Tencent Holdings Ltd has further investment if both needed and possible. And while the unemployment rate did decline, it coon, is now parceling out WeChat, a messaging serv - Tata acquires taxpayer-sup - and grocery, insurance did so in the context of a notable deterioration in labor force participation as stakes in his retail venture, ice, and WeChat Pay. In ported Ltd, which a and financial services, as discouraged workers exited — thereby further extending worries about eco - and may have sought out Southeast Asia, Grab built a cash-strapped government well as digital content nomic well-being from the recent past to actual and future growth. Amazon.com Inc. steady user base as a ride- is desperate to sell. The Tata and education, Mint Despite all this, the losses registered by the Dow and S&P 500 Index were hailing platform before Group was the carrier’s orig - relatively limited when the market opened. The Dow even traded in positive branching into financial inal owner before it was newspaper reported territory for a while before ending the session only 134 points lower, or 0.5%, Tata Sons brings in services. But if Ambani nationalised. with the S&P losing 1%. While the tech-heavy Nasdaq index underperformed, financial or strategic wants to spawn India’s Ten - Ambani brought in out - giving up 2.2% for the session, it was against the backdrop of a remarkable investors. The holding cent, Ratan Tata, 82, can aim side equity to cut his flagship business, which churns year-to-date outperformance with an overall gain of 23% compared with the to launch its Alibaba. The Reliance Industries Ltd’s net out cash without requiring S&P’s 4% and the Dow’s loss of 3%. company of the conglomerate, which owns debt to zero and lower its much investment. However, News compounded some of the initial uncertainties. President Trump’s $113b coffee-to-cars tea and Jaguar Land dependence on refining and with clients moving to cloud- move to Walter Reed hospital was followed by mixed news about his progress conglomerate may be Rover car brands, has its ten - petrochemicals, businesses hosted services, helping in battling the virus. More Washington officials, as well as highly visible for - taking a leaf from the tacles in more than 100 that will struggle with global global companies maintain mer officials such as former New Jersey Governor Chris Christie, tested pos - businesses, all with their oversupply in the post-Covid large applications on in- itive for Covid-19. Senate leaders indicated that their deliberations over the playbook of Mukesh supply chains. demand funk. Tata has a net house servers is getting next two weeks would be heavily curtailed because of the virus. Ambani, who has If Tata can provide a por - debt overhang of more than stale. Tighter US visa restric - All this serves to crystalise further for most Americans, and more people raised $20b this year tal to its vendors to sell $20 billion in steel and auto - tions will further shrink the around the world, the risks and implications of Covid-19. After all, if even the from the likes of their wares, host data and motive businesses. In addi - scope for arbitraging the president of the most powerful country in the world is vulnerable, how ex - discount bills, expansion tion, Ratan Tata needs labor of cheap Indian code- posed is each of us? With that, individual and collective perceptions of what Facebook, Alphabet, into business-to-consumer billions of dollars to buy out writers. The I think of as “human counter-party risk” increases, casting an even larger Silver Lake Partners or consumer-to-consumer the Shapoorji Pallonji Group, badly needs a new growth cloud over prospects for consumption and demand, the viability of certain and others for his websites — like Alibaba’s an 18.4% shareholder in the engine, and could find one in service sector activities and the overall economic recovery. This comes when digital assets Tmall or Taobao — holding company. Ever since data. But it needs to hurry there is little likelihood of Congress passing a new fiscal package that both shouldn’t be too hard. Be - the group patriarch ousted up. Alphabet’s Google aims provides relief to suffering Americans and helps with the challenging task of sides, if Walmart comes on SP Group scion to build a cheap Android “living with Covid” as scientists scramble to invent therapies and vaccines. board, Tata may get access to as Tata Sons chairman four phone for Jio. Facebook’s The options markets are closer than the cash market in reflecting the un - The 152-year-old Tata both the US retailer’s India e- years ago, the two sides have WhatsApp messaging could certainties. Judging from both the shape of the VIX’s future curve and the bal - Group is talking to Walmart commerce website Flipkart, been trapped in a messy handle payments for ance of calls and puts activity last week, options traders are positioning for Inc for a $25 billion invest - which it bought for $16 bil - legal feud. Now that SP’s JioMart, a network of neigh - increasing multi-month volatility with more likelihood of downward pressure ment in a “super-app,” a mul - lion, as well as PhonePe, a liquidity crunch is forcing it bourhood shops virtually on asset prices. The cash market is not there yet. Its deeply entrenched con - tipurpose online platform payment service. to cash out, Tata must exer - connected to Jio subscribers. ditioning has continued to act, at least so far, as a long-standing offset to un - combining fashion, lifestyle Tata has a stronger cise its right of first refusal settled fundamentals. and electronics retail, food pedigree than Ambani in or bring in other investors, —Bloomberg and grocery, insurance and running consumer busi - perhaps by tapping the —Bloomberg financial services, as well nesses, though some of its group’s deep connections Andy Mukherjee is a Bloomberg as digital content and educa - ventures — like the world’s with Singapore’s sovereign Opinion columnist covering industrial tion, the Mint newspaper cheapest car — have wealth fund and its state companies and financial services. He reported. flopped. The group also un - investment firm. previously was a columnist for The advantage is with the derestimated the challenge So far, the Tata Group has Reuters Breakingviews. He has also other opinion 63-year-old Ambani, with from Ambani’s Jio 4G net - held itself together by the worked for the Straits Times, ET NOW roughly 400 million regular work and was forced to of - glue of its software export and Bloomberg News The race to replace the City of London begins Will LVMH chief prefer Cartier to Tiffany hen economic historian door for US dollar-denominated Bernard Arnault is trying to shave the $16 billion purchase price Charles Kindleberger deposits held overseas called eu - Wcharted the rise of finan - rodollars. Nobody was waxing lyri - AndreA Felsted cial centres around the world in cal about the City’s talent pool, or Unlike Tiffany, 1973, he doubted London could superior legal system, as so many take the top spot in Europe’s grow - do today. ver since LVMH Moet Richemont is not a ing union of states: “Sterling is too Its attraction as a conduit for Hennessy Louis Vuit - pure jeweller. It has a weak, and British savings too European cash only really Eton SE said it was sizeable watch little.” Instead, after assessing took off after the 1980s, helped by walking away from Tiffany business, as well as various cities’ economies of scale light-touch regulation, political & Co, the question has been and corporate pulling power, he stability and its membership in the why? Montblanc and brands plumped for Brussels. EU single market. The obvious answer is including Chloe and He was clearly betting on the Those advantages are more vul - that LVMH chairman Dunhill. And then there wrong horse, but Kindleberger’s nerable today than they’ve ever Bernard Arnault is trying to is Yoox Net-a-Porter, a treatise should still be top of Euro - been. With the post-Brexit transi - shave the $16 billion pur - pean regulators’ reading list on the tion period set to end on Decem - chase price that now looks luxury online retailer. eve of a potentially messy end to ber 31, bringing an end to the UK’s too high given the damage Richemont would be a decades of unfettered free trade frictionless market access to the inflicted on the luxury in - much bigger with Britain. EU, euro-area hubs are dangling dustry by Covid-19. But sav - LVMH needs to bulk up in the faster-growing jewellery market, where it lacks acquisition for LVMH His insights into the forces that the carrot of tax breaks and regu - ing a couple of billion scale — that’s why it struck the deal with Tiffany in the first place make or break a financial center lators are waving the stick of dollars is a rounding error than Tiffany resonate in post-Brexit Europe. forced relocations. Financial firms to a company with a market Cartier, which has gained a Geneva-based Richemont Over-centralisation carries big operating in the UK have already capitalisation of about $240 strong following among has a market capitalisation risks, bringing what he called “dis - shifted about 7,500 staff and more billion. It could hardly be millennials. Richemont also of about 35 billion Swiss going to need some per - economies of scale,” such as infor - than 1.2 trillion pounds ($1.6 tril - worth getting dragged into owns Van Cleef & Arpels. francs ($38 billion). Assum - suading to sell when the mation bottlenecks, spiraling lion) of assets to the EU. an acrimonious fight. Unlike Tiffany, Richemont is ing the 30% premium that stock is still relatively de - overheads and interference by This isn’t an exodus, and no - Another possibility is not a pure jeweller. It has a investors would typically pressed. He holds 10% of politicians. His work is a challenge body’s saying that Paris or Frank - that he’s interested in sizeable watch business, as expect, that would mean an the equity and 51% of the to those who scoff at the idea that furt will suddenly replace London. pursuing alternative oppor - well as pen-maker Mont - offer price of about 45.5 bil - voting rights. He insisted in London could ever face any seri - But we’re in a decentralising phase tunities. One recurring sce - blanc and a collection of lion francs, equivalent to May that the company had ous competition. where many centers can happily nario among the market fashion-and-accessories about three times the price no intention of merging or The UK financial capital ar - coexist. Dublin and Luxembourg’s speculation is that LVMH brands including Chloe and of Tiffany. Even at this level being acquired. What’s guably became too concentrated fund-management hubs have could look to make a bid Dunhill. And then there is LVMH’s net debt at the end more, his 33-year-old son for its own good. The 2016 Brexit wooed insurers. for Cartier-owner Cie Fi - Yoox Net-a-Porter, a luxury of 2021 would still be less Anton joined the board in vote showed euro-zone officials Amsterdam has attracted trad - nanciere Richemont SA. online retailer. Richemont than 2.5 times the esti - 2017, paving the way for a were right to warn that it was risky ing firms with its fast fiber net - LVMH needs to bulk up in would be a much bigger ac - mated Ebitda for the com - possible handover to the to have a third of all EU capital work. JPMorgan Chase & Co is the faster-growing jew - quisition for LVMH than bined group. next generation. markets activity and 90% of euro- moving $230 billion in assets to ellery market, where it lacks Tiffany, giving Arnault an Its temping to think that But with watch sales hit denominated derivatives clearing Germany. And Europlace, an scale — that’s why it struck even more dominant posi - LVMH could do both deals. hard by the pandemic and in one place. agency promoting Paris as a finan - the deal with Tiffany in the tion in luxury. Annual sales But that isn’t practical, pri - Richemont battling stiff Back in the 1970s when Kindle - cial center, estimates 4,000 direct first place. Richemont is of the combined group marily because it would competition from smart - berger was writing, the City looked jobs have already been announced currently the world’s would be four times that of likely have to pay a bigger watches, it could risk falling more like a speculative bubble in the French capital. biggest branded jeweller by nearest rival, Gucci-owner premium than that 30% for behind peers in other than a real contender, with US market share, according to Kering SA. Richemont. faster-growing segments. banks using London as a revolving —Bloomberg Bloomberg Intelligence. A deal of this size isn’t im - After all, Richemont’s And it’s not just thanks to possible for LVMH. The chairman, Johann Rupert, is —Bloomberg tuesday 06 OCtOBeR 2020 retail/aViatiON 05

AirAsiA isn’t keen on infusing more funds into the venture and instead wants it to take on debt, says a report Virgin Atlantic Air trials Covid testing for crews AirAsia’s problems increase BloomBerg Virgin Atlantic Airways Ltd will carry out rapid pre-flight coronavirus testing for cabin as India hints at ‘shutdown’ crew and pilots from its base at London’s Heathrow airport, the company said on Monday. Tata Sons is reviewing the joint venture with the carrier, and is in talks The carrier said it launched a trial on flights to Shanghai to buy out the 49% stake the Malaysian firm holds in the Indian affiliate and Hong Kong on September 30 and is planning a wider BloomBerg roll-out that will involve test - Virgin Atlantic said it ing every operating crew at launched a trial on flights to AirAsia Group Bhd is closing its least once a month. Shanghai and Hong Kong affiliate operations in India, the The trial comes at a time and is planning a wider local aviation minister said over when coronavirus cases are the weekend, a comment his of - rising in the UK and globally roll-out that will involve fice later suggested was taken and travel restrictions testing every operating out of context. abound. The measures are crew once a month “AirAsia’s shop is anyway designed to “instill confidence shutting down,” Hardeep Singh in flying,” Virgin Atlantic said Puri said in televised comments in a statement. tests are seen as the best hope that were widely circulated on However, the beleaguered for the aviation industry to social media. “Their parent carrier also reiterated calls for overcome additional travel company has problems.” the wider development of a curbs that have brought a A spokesman for AirAsia rapid passenger testing sys - modest traffic rebound over India, which is majority owned tem that would enable healthy the summer to a halt. Virgin by Indian conglomerate Tata flyers to avoid mandatory Atlantic has halved its pre- Group, declined to comment. A quarantine measures in force virus payroll to preserve its spokesman for the civil aviation in the UK and the US Such rescue funding. ministry said Puri’s comments India’s aviation regulator suspended two senior executives at AirAsia India in August after a pilot claimed there were safety lapses at were taken out of context and the airline he had immediately clarified them. report earlier this year flagged its Indian operations may also GIC, TPG to invest $1b be under review. AirAsia ceases operations in Japan AirAsia, once the poster AirAsia India started flying in BloomBerg operations as of Monday, child of a low-cost airline 2014 with a promise to break Southeast Asia’s second- in Ambani’s retail unit revolution in Asia, is even in four months. But it’s AirAsia Group Bhd will cease biggest budget carrier said. BloomBerg will value the business at seeking to raise as much never made money in what is operations in Japan immedi - That will help the parent con - 4.29 trillion rupees. one of the world’s most difficult ately as it tries to reduce cash serve cash. Further steps on Singapore’s GIC Pte and pri - Ambani, 63, started selling as 2.5 billion ringgit ($600 markets, where high fuel taxes burn amid the coronavirus the decision will be made in vate-equity firm TPG will in - stakes in his retail business million) by the end of the and cut-throat fares often make outbreak that’s wiped out accordance with applicable vest a combined $1 billion in last month, soon after raising year as the coronavirus operations unprofitable. The travel demand globally. laws including the Japan Civil Indian billionaire Mukesh Am - more than $20 billion in ex - disrupts travel globally carrier, which has a market share AirAsia Japan has stopped Aeronautics Act, it said. bani’s retail unit, taking total change for 33% of his technol - of 6.8%, employs more than inflows into the business to ogy venture Jio Platforms Ltd, 3,000 people in the country. about $4.4 billion. which lured partners includ - AirAsia, once the poster child Tata Sons is reviewing the unnamed source. AirAsia isn’t tives at AirAsia India in August GIC will spend 55.1 billion ing Facebook Inc and Google. of a low-cost airline revolution joint venture with AirAsia, and keen on infusing more funds after a pilot claimed there were rupees ($753 million) for a KKR & Co and General At - in Asia, is seeking to raise as is in talks to buy out the 49% into the venture and instead safety lapses at the airline. In - 1.22% stake in Reliance Retail lantic are among other in - much as 2.5 billion ringgit stake the Malaysian firm holds wants it to take on debt, accord - dian officials are also investi - Ventures Ltd, while US-based vestors in Reliance Retail, and ($600 million) by the end of the in the Indian affiliate, the Times ing to the report. gating Fernandes and other TPG will take 0.41% for 18.4 the same private-equity funds year as the coronavirus dis - of India newspaper separately India’s aviation regulator officials for allegedly paying billion rupees, the Indian com - had also picked up stakes ear - rupts travel globally. A Reuters reported on Monday, citing an suspended two senior execu - bribes to influence local policy. pany said. The investments lier in Jio. No-frills Indian carrier SpiceJet to start flights to London The airline will fly Airbus A330-900 neo aircraft on the routes, Chairman Ajay Singh said in an online briefing BloomBerg statement. The aircraft will have The carrier previously said it 353 seats in economy class and SpiceJet said in August it was looking at Boeing Co’s 787- SpiceJet Ltd, India’s second- 18 in business. was awarded slots at 10 Dreamliner and Airbus’s biggest airline, will start regular SpiceJet said in August it was A350-1000 to enter the long- flights to London from awarded slots at London’s London’s Heathrow airport, haul, discount market. Bigger and , a move it has long Heathrow airport, one of the one of the most lucrative Indian rival IndiGo, operated by been pursuing. most lucrative destinations for destinations for airlines, under InterGlobe Aviation Ltd, is eval - The no-frills airline will fly airlines, under an air bubble an air bubble agreement uating intercontinental flights Airbus SE A330-900 neo aircraft agreement between India and with larger jets. on the routes, Chairman Ajay the UK. It had initially secured between India and the UK SpiceJet, a major customer for Singh said in an online briefing the slots from September 1 to Boeing’s now-grounded 737 Max with reporters on Monday. The October 23, but Heathrow ex - plane, was temporarily grounded flights will start from December tended them for the entire win - that SpiceJet will be the first In - Return fares start at 53,555 Singapore Airlines Ltd, started in 2014 after it ran out of cash. It 4 and there will be two a week ter schedule. dian low-cost airline to operate rupees ($730), according to the flying to London in August with made a comeback under co- from Delhi and one from Mum - “This is a huge milestone for non-stop long-haul flights to the statement. three cabin classes and free founder Ajay Singh, who re - bai, according to a company us and I am proud of the fact UK,” Singh said in the statement. , the Indian affiliate of Wi-Fi on board. turned to the company in 2015.

announceMent Declaration for cash DiviDenDs about unclaimed Dividends for Kept by companies before 01 March 2015 fooDco holDinG PJsc shareholders and not received by the shareholders of prior to 1 March 2015 local listed Public Joint stock company. Following the instructions of the Securities Further to the directions of the Securities and and Commodities Authority (SCA) regarding Commodities Authority for the cash dividends kept by companies before 01 March 2015 and not the Unclaimed Dividends for fooDco received by the shareholders of local listed public holDinG PJsc Shareholders prior to 1 March joint stock companies. 2015. fooDco holDinG would like to ask the Dubai Islamic Insurance and Reinsurance Co. PJSC (AMAN) requests the shareholders eligible for the honorable shareholders, who did not collect cash dividends, not received before 01 March the cash dividends prior to 1 March 2015, to 2015, for the visitation of the following link to ensure visit our website http://www.foodco- that the name of shareholder exists as a shareholder eligible for the cash dividends uae.com (Select “Investors Relations” tap (https://aman.ae/docs/24027302265423343617/) and select “Dividend” Page) to make sure If a shareholder is eligible for a cash dividend, the that the shareholder's name is due as a cash following documents shall be sent to the company dividend and to proceed with the settlement in order to distribute the dividends. of their entitled dividends. 1. A letter, addressed to the company and signed by the shareholder or his legal So, If the name is confirmed please provide representative, contains a request for the issue of a cheque or a bank transfer for the cash the following documents: dividends entitled. •Request letter from the shareholder or his 2. The shareholder’s original passport and a legal representative for re-issuance of the copy thereof or original emirates identity card dividend cheque or to make a bank transfer. and a copy thereof. 3. In the event of a general or special power of attorney is executed by the shareholder, the •Valid Emirates ID and/or Passport and a duly attested original of the power of attorney copy of each. and a copy thereof shall be provided together with the attorney’s original passport and a copy thereof or original emirates identity card and a •If you have a Power of Attorney, please copy thereof. provide the following: 4. Any other documents required by the ••An original copy of notarized POA company. ••Valid Emirates ID and/or Passport and Kindly be informed that starting from 14 February a copy of each for the representative 2021 all dividends not received by the eligible persons are to be transferred to the Authority of fooDco confirms that “from the date of Securities & Commodities, which will assume the responsibility for the distribution of dividends among February 14, 2021, all dividends that were not the eligible shareholders on demand. The Authority received by shareholders will be transferred to will duly publish a statement on the portal of the Securities and Commodities Authority, Authority and the portals of financial markets to demonstrate the role of distribution carried out by which will be responsible for disbursing the the Authority in details. value of the dividends to those who deserve it”. TUESDAY 06 OCTOBER 2020 06 politics

Protesters blockade Coronavirus dominates the conversation around us President Donald Trump Sudan’s Red Sea ports BloomBerg Trump campaign hobbled by Sudan’s main sea ports were blockaded by protesters op - posed to part of a peace deal Covid-19 as Biden pulls away with rebels, targeting some of the ravaged economy’s major conduits for trade. Whether US president can participate in the final two presidential debates is Demonstrations forced fa - cilities to close at Port Sudan Demonstrations forced an open question —though voters hammered his performance in first debate and Suakin, both on the Red facilities to close at Sea, according to the head of Port Sudan and Suakin, BloomBerg a local labour committee that backs the action, Abdou both on the Red Sea, President Donald Trump’s re- Donald Trump is Alshirbini. according to the head of election campaign has seen its dominating the news Protesters planned on a local labour committee candidate, campaign manager cycle, but for all the wrong Monday to extend their and party chairwoman all laid reasons — in the hospital, blockade to Bashair, the port that backs the action, low by Covid-19. He is short on from which landlocked South Abdou Alshirbini cash, Democrat Joe Biden is fighting the virus he sought Sudan’s oil is shipped to world pulling away in the polls and his to effectively erase from markets, he said by phone. best hope to climb back — the the story of his presidency Authorities weren’t immedi - eign aid and investment in the raucous rallies that fuelled his ately available to comment on aftermath of Omar al-Bashir’s 2016 win — is on hold indefi - as he appealed to voters the committee’s claims. Sudan 2019 ouster. nitely as the last month of the for a second term Seaports Corp spokesman Sudan’s transitional govern - race ticks away. Nabil Mahmoud said that facil - ment signed a landmark peace Trump is still dominating the ities at Port Sudan and Suakin deal with rebel groups that’s news cycle, but for all the wrong former New Jersey Governor had been partially closed, designed to end years of con - reasons — in the hospital, fight - Chris Christie, and several sen - without giving details. flict in the western Darfur re - ing the virus he sought to effec - ators who will help see his Any long-term stoppage gion and two southern states. tively erase from the story of his Supreme Court nominee, Amy would mean more trouble for Members of the Beja com - presidency as he appealed to Coney Barrett, confirmed be - Sudan’s already struggling munity and some local leaders voters for a second term. US President Donald Trump speaks to his supporters during a rally at the MBS International fore November 3. economy. have rejected the clauses re - Instead, coronavirus domi - Airport in Freeland on September 10 —DPA “It certainly doesn’t help,” Inflation has hit 167% and lated to solving a long-running nates the conversation around said Chris Wilson, a Republican GDP is likely to contract some lower-level dispute in eastern Trump. His own diagnosis sent strategist who worked on Sena - 7.2% this year as the North Sudan, saying they weren’t him to Walter Reed National tor Ted Cruz’s 2016 presidential African country strives to consulted and the pact doesn’t Military Medical Center, and the Trump hospital-release call campaign. “Assuming they all overcome shortages of key address the root causes of re - virus continues to spread inside just have mild to moderate commodities and attract for - gional marginalisation. the White House, seemingly due symptoms, it still slows things to the same indifference to basic expected soon: Meadows down and makes the campaign precautions that Trump himself BloomBerg medical team.” less nimble and responsive to has demonstrated for months. Meadows said the presi - news events. And this is 2020, Whether he can participate in White House Chief of Staff dent continued to improve so there will be events.” 1MDB trial adjourned the final two presidential de - Mark Meadows said a deci - overnight, after he made a Trump sought to re-energise bates this month is an open sion on President Donald surprise outing on October 4, his re-election effort, announc - with Najib in quarantine question — though voters ham - Trump’s release from the waving to supporters gath - ing “Operation MAGA,” an effort mered Trump’s performance in hospital was expected to be ered outside from his to flood the campaign trail with BloomBerg confirmed cases rising by a the first debate, when he inter - be made after consultations motorcade. top surrogates like Vice Presi - record on October 3. Most of rupted Biden so much the for - with medical staff on Monday. Trump on Monday re - dent Mike Pence, Trump’s fam - Najib Razak’s 1MDB trial was the new cases were found in mer vice president finally told “It’s going to be, at the ear - sumed his campaign via Twit - ily and others. delayed as the former Sabah, where the ruling coali - him, in vain, to shut up. liest, this afternoon,” Mead - ter, with a series of posts Some of those surrogates Malaysian premier is in quar - tion allied with Najib is form - The litany of political disas - ows said on Fox News of the urging supporters to vote and joined the Washington shows, antine after traveling to the ing a new government after ters “certainly causes great decision for Trump to leave reminding them that today is offering a sunny view of Borneo state of Sabah, a new winning the September 26 worry in the closing weeks of Walter Reed National Military the last day to register in Trump’s health condition as hotspot for the country’s coro - state election. a campaign in which the Medical Center — where he’s states including Florida and doctors raised the possibility navirus outbreak. The delayed trial revolves president is behind in polls been staying after his diagno - Arizona. Trump could leave the hospital The trial will resume on around Najib’s biggest case, and fundraising,” said Ed sis with a Covid-19 infection. “We’re still optimistic that, on Monday. With the approval October 19 as Najib remains comprising 25 money-laun - Rollins, a Republican strategist “We have further evalua - based on his unbelievable of his medical team, according under two-week quarantine at dering and corruption charges who heads the pro-Trump tions and consultations progress,” he will be released, to the White House, Trump con - his home after returning from including accusations that he Great America political action that have to take place be - Meadows said in an interview ducted a brief motorcade out - a political campaign, accord - received 2.08 billion ringgit committee. tween the president and his with Fox News . side Walter Reed hospital to ing to court proceedings on ($500 million) of bribes re - Of the campaign leaders side - wave to gathered supporters. Monday. He had tested nega - lated to bonds issued by trou - lined by the virus, he said: “None of us is Donald Trump, tive for the virus earlier. bled state fund 1MDB. He was “These are the decision makers, Among those infected are the Republican Party chair - but we can still deliver Trump’s The country is seeing a already sentenced to 12 years and normally the workload only people most responsible for se - woman, Ronna McDaniel; his message,” Steve Cortes, a cam - resurgence of coronavirus in - in prison in an earlier trial, intensifies on these individuals curing Trump’s re-election: his trusted aide Hope Hicks; his paign senior adviser for strat - fections, with the number of which he plans to appeal. in the closing days.” campaign manager, Bill Stepien; wife, Melania; his debate coach, egy, said on Monday. Covid-19 death toll more than double initial reports: Russia BloomBerg toll means Russia reported a Russia’s latest figures from the statistics agency, known as 346,900 reduction in popula - Russia’s Federal Statistics Serv - Rosstat, include deaths both directly attributed to the tion in the first eight months of ice said 45,663 people have died 2020, a 58% increase from the with Covid-19 in April through novel coronavirus and cases where it was listed as an year before. August, more than double the “important condition” leading to the lethal outcome The numbers of cases and death toll released by the gov - deaths reported by the virus-re - ernment’s virus-response staff. sponse staff have been rising in The latest figures from the ber 4. According to those fig - fourth-largest number of cases recent weeks and authorities statistics agency, known as Ros - ures, the accuracy of which has in the world. have reopened temporary hos - stat, include deaths both di - been questioned by the World The Rosstat data showed pitals and reimposed some re - rectly attributed to the novel Health Organization and out - Covid-19 deaths dropped in Au - strictions to limit the spread of coronavirus and cases where side experts, Russia has one of gust to 7,463 from 10,371 in the virus. it was listed as an “important the lowest death rates in the July. The worst outbreaks are in condition” leading to the lethal world. Deaths from all causes were big cities like Moscow, but the outcome. But the Rosstat figures put 71,700 ahead of last year in the situation overall remains under The government’s virus-re - Russia’s performance more in first eight months of the year, control, Health Minister Mikhail sponse staff puts the total line with other countries with according to Rosstat. Combined Murashko said on Monday, ac - deaths at 21,475 from the start This file photo shows a researcher working at a laboratory of the Gamaleya Institute in Moscow large outbreaks. with a lower number of births cording to the official Tass news of the epidemic through Octo - on developing a coronavirus vaccine in Russia —DPA Russia has reported the in the period, the higher death agency.

the gulf time the gulf time Date:06-10-2020 Date:06-10-2020

Notification date: 24/09/2020 Delta forecast to become hurricane Notification No.: 146906/2020 gOVernment OF DuBAi DuBAi COurtS BloomBerg named system, only the second gOVernment OF DuBAi notification by publication time that mark has been DuBAi COurtS in Lawsuit no. 1162/2020/11 Civil partial Tropical Storm Delta is forecast reached in records going back Dubai Commercial Court of First instance To the Defendants: to become a hurricane in the to 1851. It’s also the earliest notification by publication 1- Ahmed mohamed Desouqy Zaki ibrahim Gulf of Mexico later this week, point at which that many in the Case no. 16/2020/3151 partial Commercial 2- Doaa Al Laithi ibrahim mustafa clipping western Cuba and be - storms have been recorded. If it 3- rabeai mohamed Ali Obaid Case subject: seeking an order to obligate the Defendants 4- Shabban radi marzouq Al Sayed coming the record 10th storm does strike the Gulf Coast, it to pay jointly an amount of AED (4.952.353) Four Million, Nine 5- tarek Ahmed Al Saeed Al Babli to hit the US when it makes would be a record 10th storm to 6- Hani Al Sayed mohamed Abu el mahasen naeem Hundred Fifty Two Thousand, and Three Hundred Fifty Three landfall between Louisiana and hit the US this year, Douty said. 7- naijil mark Antony Flicher Tropical Storm Delta’s Dirham as a compensation for it for the insurance it paid to Unknown Domicile Florida by Friday. An all-time high of 28 storms Al SAUD COMPANY LTD. Insured, before it for the damage Subject matter of the Lawsuit: Its winds could reach 169 kilo - winds could reach 169 formed in 2005, including and loss incurred upon it due to the fire of the subject matter 1. Cancel the Circular Decision issued for Vehicle No. metres per hour as it crosses the deadly Hurricane Katrina. of the case that has been caused by the First Defendant, 14/43075 Private- Abu Dhabi- Category: Fourteenth- kilometres per hour as it Type: BMW, Class: 1330, Year of Manufacturing: 2016, Gulf, making it a Category 2 The storm will likely cause oil and to charge the Defendant with the Arrears of interest at crosses the Gulf, making owned by the Claimant under a Possession Transfer storm on the five-step Saffir- and natural gas production off - (12%) as of the date of the judicial claim, fees, expenses Certificate No. 900200000388 dated 8/1/2020 issued by Simpson scale, the US National it a Category 2 storm on shore of Louisiana to shut and attorney's fees. the General Directorate of Vehicle and Drivers Licensing at Sharjah, and grant the Claimant the right of disposition Hurricane Center said. It could down, and it poses a threat to The Party requesting the notification: Oman insurance five-step Saffir-Simpson of the vehicle and transfer its possession. even become a Category 3 major onshore refineries and ship - Company (p.S.C.) scale, the US National 2. Obligate the Defendants jointly and severally to pay the hurricane, said Adam Douty, a ping, said Jim Rouiller, lead Capacity in the case: plaintiff Claimant an amount of AED 175.605 (One Hundred Hurricane Center Addressees: Seventy Five Thousand, Six Hundred Five Dirhams) along meteorologist with AccuWeather. meteorologist with the Energy with an interest thereof at 9% annually from the date of 1- mAnAmA Centre LLC - Branch 1 Delta is this year’s 25th Weather Group. filing the Lawsuit till full repayment. Capacity in the case: Defendant 3. In all cases, to obligate the Defendants with charges, 2- mAnAmA Centre LLC expenses and Attorney fees. Capacity in the case: Defendant Whereas The Claimant: Al Sagar national insurance expert meeting expert meeting Unknown residence place Company-public Joint Stock Company Represented by : Ahmed Abdullah ibrahim galadari the gulf time — Date: 06-10-2020 the gulf time — Date: 06-10-2020 notification subject: they have instituted the case against Has filed against you the case, its subject is to: you, claiming for ordering the Defendant jointly to pay an 1. Cancel the Circular Decision issued for Vehicle No. Intra Financial Consultancy expert meeting Service 14/43075 Private- Abu Dhabi- Category: Fourteenth- P.O Box: 4799 amount of AED (4.952.353) Four Million, Nine Hundred Fifty Dubai, UAE in Case no. 1405/2020 Commercial (restricted Jurisdiction)- Dubai Type: BMW, Class: 1330, Year of Manufacturing: 2016, Two Thousand, and Three Hundred Fifty Three Dirham as a owned by the Claimant under a Possession Transfer notice of Service by publication in Arabic and english Filed by/ go Arials FZ- LLC compensation for it for the insurance paid to Al Saud Co Ltd Certificate No. 900200000388 dated 8/1/2020 issued by Against to: the Defendants: 1- techniques in its capacity as an insured at the defendant for the the General Directorate of Vehicle and Drivers Licensing 1) SiLex generAL trADing (LLC) 2- Zero technologies LLC damage and loss incurred upon it due to the fire of the at Sharjah, and grant the Claimant the right of disposition 2) Darapureddi Venugopal of the vehicle and transfer its possession. involved Litigant/ Omar Mohamed Abdul Rahman Al Awadi subject matter of the case that has been caused by the First Subject: in the matter of the Commercial Case no. 2020/499, plenary, Dubai We, the accounting expert/ Seham Abdullah Hamad Bin Yelwan Alfalahi, 2. Obligate the Defendants jointly and severally to pay the hereby serve you that we were appointed by Dubai Court of First Instance, Defendant, and to charge the defendant with the Arrears Claimant an amount of AED 175.605 (One Hundred Kindly be advised that there is a case filed against you by The Claimant/ to execute the accounting expert's mission provided in the court judgment of interest at (12%) as of the date of the judicial claim, fees, Seventy Five Thousand, Six Hundred Five Dirhams) with an Commercial Bank international, represented by Abdulrahman Naseeb rendered at the hearing of 21/09/2020 in the above-mentioned Case. In Advocates and Legal Consultants before Dubai Courts and we are addition, we hereby serve the Defendants to attend the expert's meeting expenses and attorney's fees. interest thereof at 9% annually from the date of filing the appointed as a banking expert as per the judgment issued in the above decided to be held on Tuesday, corresponding to 13/10/2020 at 01:00 PM Lawsuit till full repayment. case. through visual connection with all the dispute litigants via Zoom A hearing has been scheduled on tuesday, 13/10/2020 AD, 3. In all cases, to obligate the Defendants with charges, Accordingly, you are kindly invited to attend the expert meeting by video Application, by clicking on the below link. In case you have any inquiries, expenses and Attorney fees. via Zoom application on Sunday 11/10/2020 at 11:30 am. Therefore, you please contact the expert office on Tel. No.: 043413632. at 08:30 A in the Building — Desc, therefore, you are are required to attend by video (Zoom application) on time. We ask you A hearing is set on monday corresponding to 12/10/2020 at assigned to attend or your legal representative, and you to provide us with all the documents supporting your defence via e-mail Zoom Link: 08:30 am at the Remote Litigation Chamber and Building- of the expert mentioned below before the meeting. To contact us please https://us04web.zoom.us/j/745666222848?pwd=bUswTzFrYVIrSVQ2eWE0 should provide the memorandums or documents you have DESC. Therefore, you are required to attend personally or call 0589323011- 042206244- E-mail: intrafinance@intra. ae RXBWUXRXUT09 meeting: 745 6662 2848 to the court at least three days before the hearing. via your legal representative and you have to submit to the Office of Banking and Accounting expert passcode: 2020 court any memorandums or documents at least three days Ali Rashed Al Kaitoob Case manager prior the date fixed for the hearing. //signe// Accounting expert //stamp of Intra Financial Consultancy// Seham Abdullah Hamad Alfalahi (signed) tuesday 06 october 2020 europe/americas 07

UK car sales stumble authorities in europe plan to impose tighter distancing rules on restaurants as the region is declared on maximum alert again, erasing hope of quick recovery Europe tightens restrictions as leaders gird for long virus fight The continent is trying to regain control of resurgent coronavirus infections, with Paris closing restaurants and new curbs likely on the way in Italy, Ireland

BloomBerg cent weeks, Ireland’s national health authorities recom - Europe is tightening restric - mended the country move to a tions to regain control of resur - level 5 lockdown. That’s the Car registrations in July brought the first monthly sales gain of the year as showrooms gent coronavirus infections, highest level of shutdown, with reopened following months-long lockdowns, and spurred expectations of a recovery with Paris closing restaurants most stores closed, household and new curbs likely on the way visits banned and limits placed BloomBerg in Italy and Ireland. on how far people can leave Registrations dropped to The continent is struggling to their homes. Most of the coun - UK car sales fall for a second 328,041 cars. That follows a control the latest outbreak as try is currently at level 2, with straight month, sliding 4.4% in opposition to limits on move - Dublin at Level 3. the country’s weakest Septem - 5.8% decline in August ment mounts and leaders resist While the government is set ber for auto purchases in more and dashes hopes for an the stringent lockdowns that to consider the recommenda - than two decades. early recovery from a hammered economies in the tion in coming days, the sur - Registrations dropped to coronavirus-driven slump second quarter. Instead, the ap - prise proposal is already 328,041 cars, according to proach is on a shifting array of running into resistance, amid data from the Society of Motor measures, which risks being concern that such a drastic step Manufacturers and Traders. back up to speed following similarly disruptive. would devastate the nascent That follows a 5.8% decline in Covid-19 factory lockdowns. “Authorities have an ex - economic recovery. August and dashes hopes Car registrations in July tremely difficult job at the mo - Protesters take part in a demonstration against the measures imposed to curb the In a sign of the economic for an early recovery from a brought the first monthly sales ment,” Martin Hirsch, head of spread coronavirus (Covid-19) pandemic in Konstanz, Germany —DPA risks, Cineworld Group Plc lost coronavirus-driven slump. gain of the year as showrooms Paris hospitals, said on France more than half its value after The figures are especially reopened following months- Info. “If we go too far we are ac - the company said it will tem - disappointing because Sep - long lockdowns, and spurred cused of killing freedom or the n Europe is struggling to control the latest outbreak as porarily suspend operations at tember is usually a key month expectations of a recovery. economy, and if we don’t go far opposition to limits on movement mounts and leaders all its American and British for UK auto retailers, with a While that provided some relief enough, it’s homicide.” resist stringent lockdowns that hammered economies movie theatres now that crucial change of year on license as the industry cut jobs and ca - Paris Mayor Anne Hidalgo income from winter block - plates spurring purchases. The pacity to weather the pandemic, will announce new restrictions busters has been pushed into decline makes for the worst the latest numbers suggest the to contain the spread after a n Amid a surge in cases in recent weeks, Ireland’s 2021. September since the two-plate pent-up demand was a blip. surge in cases in the capital and national health authorities recommended the country Operations will resume when system was introduced in The percentage drop was its suburbs. “key markets have more con - 1999, the SMMT said. limited by sluggish sales in Authorities are planning to move to a level 5 lockdown crete guidance on their reopen - “There was a lot of expecta - September 2019, with the dip impose tighter distancing rules ing status and, in turn, studios tion that September would be stretching to 16% when com - on restaurants as the region is In Germany, Chancellor An - television. “It’s not gone, and it’s are able to bring their pipeline the month that pent-up de - pared with the 10-year aver - declared on maximum alert, ac - gela Merkel will chair a special a great danger for everyone of major releases back to the big mand would finally boost the age, according to the SMMT. cording to Agence France Presse . cabinet meeting on the pan - around the world.” screen,” world’s second-biggest new car market with knockout The industry is facing more In Marseille, however, restau - demic response in Berlin. Fi - In Hungary, the government cinema chain said. numbers,” said Alex Buttle, di - than $27 billion in lost revenue rants will be permitted to nance Minister Olaf Scholz said over the weekend announced Italian Prime Minister rector at online car retailer by the end of the year, the reopen after a week of closure. “it will take time” to return to what it called an unprecedented Giuseppe Conte warned that Motorway. “It looks like we’ll group said. France’s virus cases in - pre-coronavirus levels of activ - increase in doctors’ wages. people may have to give up have to wait for headier times.” “Unless the pandemic is con - creased the most in Europe over ity, even if more effective thera - Prime Minister Viktor Orban some liberties to combat the re - The new car market “is now trolled and economy-wide con - the past two months and pies and a vaccine are made predicted that the “seven-eight newed spread of the coron - likely to remain fragile for the sumer and business confidence monthly virus-related deaths available. months ahead will require ex - avirus, as his government rest of 2020,” he added, citing rebuilt, the short-term future tripled in September. The coun - “We will be dealing with this traordinary efforts” from med - prepares to require masks in all buyer caution and ongoing looks very challenging,” said try reported a record number ‘new normality’ and with the ical professionals, according to outdoor areas and impose lim - supply issues with many man - Mike Hawes, the chief executive of laboratory-confirmed new virus into next year,” Scholz said a Facebook video. its on gatherings, Corriere della ufacturers struggling to get of the SMMT in a statement. cases on Saturday. in an interview with ARD public Amid a surge in cases in re - Sera reported.

New restrictioN iN Madrid Nexi to buy SIA in $5.3 billion deal to form payment giant The combined business will have a market value of over $17.63b, making it one of Italy’s top-10 listed businesses

BloomBerg

Italy’s Nexi SpA agreed to buy SIA SpA in an all-share deal that will create one of Europe’s biggest payment providers. The transaction, which val - ues closely held SIA at 4.56 bil - lion euros ($5.3 billion) will give Nexi shareholders about 70% of the joint company. The combined business will have annual revenue of about 1.8 Italy’s Nexi and SIA wrapped up more than a year of negotiations as payment billion euros and a market providers across Europe look for deals that can add scale value of more than 15 billion euros ($17.63 billion), making will lead the new group and People wait on the platform of the Prince Pio train station as they maintain their safety statutes after the Spanish Government it one of Italy’s top-10 listed The merger of Nexi and SIA Cordone will stay until the deal Imposed mobility restrictions and new criteria to halt the coronavirus spread in Madrid on Monday —DPA businesses. closes, according to the state - “This operation will con - creates a company with ment. Nexi expects about 150 tribute to accelerating our about 2mn merchants and million euros in recurring cash country on the path of digitali - 120mn cards, potentially a synergies from the deal, with sation toward a cashless society, completion expected in the Microsoft to build Greek data centers SIA Chief Executive Officer stronger competitor to summer of 2021. The company Nicola Cordone said in a state - France’s Worldline will exchange 1.5761 of its BloomBerg will be the biggest by the US every country.” ment. “This is in line with the shares for each one SIA. technology giant in its 28 years Microsoft will also start a mission we have worked on “Terms appear reasonable Microsoft Corp. has agreed to of operations in Greece, Mi - training program to help fill with pride, commitment and with about 2 million mer - with synergies running ahead build a series of new data cen - crosoft President Brad Smith around 100,000 jobs the initia - dedication for past 40 years.” chants and 120 million cards, of our expectations,” Jefferies ters in Greece, in a move the said at a deal presentation in tive will create, Smith said. The firms wrapped up potentially a stronger com - analysts including Paul Kratz Greek government says will Athens on Monday. The decision The new data centers “auto - more than a year of negotia - petitor to France’s Worldline said. “We view the SIA-Nexi boost entrepreneurship and en - “shows confidence in the Greek matically upgrade the country tions as payment providers SA, which agreed in February merger as a strategically im - courage other major companies economy, the Greek people and as an investment destination,” across Europe look for deals to acquire Ingenico Group SA portant deal for Nexi and may to invest in the country. the government,” Smith said. Greek Prime Minister Kyriakos that can add scale. The in a 7.8 billion-euro deal. help accelerate consolidation of The “ongoing” investment “It’s not something we do in Mitsotakis said. merger creates a company Nexi CEO Paolo Bertoluzzo the Italian acquiring market.” Credit market dysfunction in Sweden brings benefits to some Niklas Edman, a fund manager at Carnegie, says market features are ‘not only a risk, they can also pose an opportunity’

BloomBerg Sweden’s credit market, partic - A lack of liquidity, or the Given the current state of ularly around pricing, liquidity ability to buy and sell bonds, is The dysfunction in Sweden’s and transparency. no worse in the Nordic region credit market is creating op - the Swedish credit market, With only a limited number than in the rest of the world, portunities for investors Niklas Edman, who helps of firms actively quoting according to Edman. “Markets ready to take advantage of oversee about $9 billion at prices, Edman says “the valua - have increased dramatically in murky pricing and unreliable tion becomes challenging, in size, while the buffers — in liquidity. Stockholm-based Carnegie the sense that you do not have terms of banks providing bal - Niklas Edman, a portfolio Fonder, says that “one an official closing price like the ance sheet — have stayed the manager at Carnegie Fonder should be compensated for stock market.” same,” he said. AB, says that market features these risks, perceived or Asset managers such as Scandinavia’s credit market such as illiquidity, a lack of Carnegie Fonder can hold up to is “less mature” than its coun - transparency and price volatil - real, by higher spreads” 500 bonds across funds, so “it terparts in the US or continen - ity are “not only a risk or is important that the valuation tal Europe, which are threat, they can also pose an is done by a third party,” characterized by features such opportunity.” by higher spreads.” In March, Carnegie Fonder was among 35 Swedish fixed-income funds to temporarily Edman said. He points to Nor - as a repo market or tradeable Given the current state of the In March, Carnegie Fonder halt investor redemptions as bond prices plunged due to the panic triggered by the way as a possible model for indexes, Edman said. Swedish credit market, Edman, was among 35 Swedish fixed-in - coronavirus pandemic Sweden to copy. There, a But he also says that, if an in - who helps oversee about $9 come funds to temporarily halt company called Nordic Bond vestor in Sweden’s credit mar - billion at Stockholm-based investor redemptions as bond Even so, Edman says the ex - that they “worked well during Pricing provides a daily inde - ket is “selective,” it’s possible Carnegie Fonder, says that “one prices plunged due to the panic isting mechanisms for pricing the volatile part of the spring.” pendent price for bonds, a to “avoid credit events, while should be compensated for triggered by the coronavirus Carnegie’s funds are “robust.” But the fund manager says standard that Sweden has yet still being rewarded higher these risks, perceived or real, pandemic. He even goes so far as to add the crisis exposed holes in to introduce. spreads.” tuesday 06 october 2020 08 stock markets

Singapore Exchange US marketS have been nervous about a close election and the risk of a long and messy legal battle plans to wind-down Stocks, futures advance on its deal with MSCI BloomBerg Trump prognosis; yen dips Singapore Exchange Ltd. (SGX) is beginning to re - Consumer companies and banks led a broad advance among European stocks. duce its pact with MSCI Inc. months earlier than ex - Equities in Asia notched gains, while crude oil rebounded from a 3-week low pected, citing market un - certainty into year-end to BloomBerg speed up delisting the While futures on S&P 500 largest derivatives product US futures climbed with global Index gained 0.3% and the it has in partnership with stocks on optimism over eco - the index provider. nomic stimulus and that Pres - Stoxx Europe 600 Index The exchange will mi - ident Donald Trump may soon rise 0.6%, the MSCI Asia grate all open positions in Singapore Exchange will leave the hospital. The yen re - Pacific Index climbs 1.2% the MSCI Taiwan Index fu - migrate all open positions treated and Treasuries were and the MSCI Emerging tures to its newly launched steady. FTSE contracts on October in MSCI Taiwan Index Consumer companies and Market Index also 30 and the MSCI product futures to its newly banks led a broad advance surges to 0.6% will then be suspended, launched FTSE contracts among European stocks. Equi - Michael Syn, who oversees ties in Asia notched gains, both the cash equities and on October 30 and the while crude oil rebounded to Caterpillar Inc. equity derivatives busi - MSCI product will then from a three-week low. Haven Meanwhile, the Reserve nesses, said in an interview. be suspended assets dipped, with gold and Bank of Australia is forecast to The MSCI product had pre - the dollar edging lower. keep interest rates and its viously been set to wind A member of Trump’s med - three-year yield target un - down as of the license expi - impact net profit for its cur - ical team said that the presi - changed at 0.25% on Tuesday. ration in February. rent financial year ending dent could be released from Futures on the S&P 500 “There’s uncertainty as in June by 10% to 15% if no hospital after treatment for Index gained 0.3% as of 9:40 to what the market should mitigating actions were Covid-19. But Trump’s condi - am London time and the Stoxx expect November onward taken. tion remains clouded by con - Europe 600 Index rise 0.6%. “Polls are shifting from a close election and prolonged uncertainty to more a dominant because of the US election” The bourse introduced fusion, with the president’s While the MSCI Asia Pacific Biden and clean succession. That is reducing uncertainty and increasing risk appetite, and December holidays, the SGX FTSE Taiwan Index effort to show strength contra - said,” said Peter Rosenstreich, head of market strategy at Swissquote Bank Index climbed 1.2%, the MSCI Syn said, adding the delist - Futures contracts in July dicted by conflicting accounts Emerging Market Index rise ing is being brought for - and there’s already ample from his doctors. 0.6%. ward to avoid potential liquidity to make the move, “As for news around Trump, The Bloomberg Dollar Spot operational issues and Syn said. Total turnover ex - it will likely continue to cause n The Taiwan dollar closed at strongest level since 2011 Index decreased 0.2% to “to make sure everyone’s ceeded $1.5 billion in the extra volatility,” said Robert amid speculation the local central bank will loosen its 1,172.05 and the euro rose strapped in before the first week of trading. This is Greil, chief strategist at Merck grip on the rallying currency 0.2% to $1.1739. elections.” the first time an exchange Finck Privatbankiers AG. “I While the British pound The move comes after will migrate open interest think this week clear progress gained 0.1% to $1.2952, the MSCI’s decision in May to on behalf of customers, he or a deal on the next US fiscal n In European stocks, Cineworld Group Plc plunged in Japanese yen weakened 0.4% shift index licensing for said. program would boost risk ap - London after saying it would suspend operations at all to 105.66 per dollar. some derivatives products The Taiwan contracts ac - petite the most.” its US and UK theatres The yield on 10-year Treas - from Singapore to Hong counted for more than half On the stimulus front, uries climbed one basis point Kong. Come February, its of the volumes of all MSCI Trump tweeted from hospital to 0.71% and the yield on two- pact with the city-state’s ex - derivatives products trad - that a deal needs to get done. weeks about a close election Taiwan dollar closed at the year Treasuries gained less change will be limited to ing on the exchange, and Nancy Pelosi was optimistic and the risk of a long and strongest level since 2011 than one basis point to 0.13%. products based on MSCI’s about 12% of overall equity that a bipartisan stimulus bill messy legal battle. amid speculation the local cen - While Germany’s 10-year Singapore indexes. SGX has derivatives volumes, in fis - can be done, and said his diag - “Polls are shifting from a tral bank will loosen its grip yield rose less than one basis partnered with FTSE cal year 2020. According to nosis “kind of changes the close election and prolonged on the rallying currency. point to -0.53%, Britain’s 10- Russell to introduce new of - Syn, US customers are key dynamic.” uncertainty to more a domi - In European stocks, year yield increased two basis ferings and signed a broad- to the Taiwan business, with Traders also pointed to polls nant Biden and clean succes - Cineworld Group Plc plunged points to 0.261%. ranging deal that spans about 26% of volume occur - suggesting a stronger lead for sion,” said Peter Rosenstreich, in London after saying it would West Texas Intermediate multiple asset classes. ring overnight amid de - Democrat Joe Biden and the head of market strategy at suspend operations at all its crude increased 2.9% to It previously estimated mand from American and possibility that a clear winner Swissquote Bank SA. “That is theatres in the United Kingdom $38.07 a barrel and gold weak - that delisting its non-Singa - European investors for the will emerge from the Novem - reducing uncertainty and and the US. Weir Group Plc ened 0.2% to $1,895.22 an pore MSCI products would technology-heavy index. ber 3 election. US markets increasing risk appetite.” jumped after announcing the ounce. LME copper declined have been nervous in recent Elsewhere in markets, the sales of its oil and gas division 0.1% to $6,541 per metric ton.

Daily Financials As of 2020-Oct-05 Generated on 2020-Oct-05 18:34

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 6.82499E+11 61015887588137050000.7234E+11 21062944467 25 18 4 3293,627, 425.44425.44106,977, 774 1,786 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, 5.550 8.150 3.82028,696, 048.09 5,137, 344.00 151 (0.020) (0.36) 6,957,379,354.00 38,613,455,414. 70 Abu Dhabi Islamic Bank A1.00000,000DIB 3,632, 4.180 5.850 3.1901,112, 737.15 265,485. 00 58 (0.010) (0.24) 3,632,000,000.00 15,181,760,000. 00 Bank of Sharjah B1.00000,000OS 2,100, 0.530 0.830 0.530 2,100,000,000.00 1,113,000,000. 00 Commercial Bank International C1.00383,050BI 1,737, 0.678 0.966 0.554 1,737,383,050.00 1,177,945,707. 90 Finance House FH 1.00310,049, 961 1.590 1.620 1.400 310,049,961.00 492,979, 437.99 Invest Bank I1.00982,143NVESTB 3,180, 0.440 2.030 0.430 3,180,982,143.00 1,399,632,142. 92 First Abu Dhabi Bank FA1.00000,000B 10,920, 11.120 15.920 7.78062,864, 304.38 5,637, 662.00 217 (0.020) (0.18) 10,920,000,000.00 121,430,400,000. 00 National Bank of Fujairah N1.00761,884BF 1,914, 4.980 4.980 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 1.800 1,848,000,015.00 3,696,000,030. 00 Sharrjajah Islamic Bank S1.00597,750IB 3,081, 1.180 1.350 0.950607,225. 32 515,177. 00 7 0.000 0.003,081,597,750. 00 3,636,285,345. 00 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 93,280,314.94 11,555, 668.00 433 39,420,950,234.00 204,071,563,810. 44 Index ADBF Index Open 7,467.35 Index Close 7,434.64 Index Change (13.95) Index Change % (0.19) Traded 4 Declined 3 Advanced 0 Unchanged 1 Sector Capitalization 2.04072E+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, 0.510 0.783 0.510 330,939,180.00 168,778, 981.80 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, 2.1102.700 2.110 137,500,000.00 290,125, 000.00 Abu Dhabi National Takaful Co. T1.00000KFL 100,000, 6.180 6.5006.500 2.740 100,000,000.00 618,000, 000.00 Insurance House IH 1.00118,780, 500 0.850 118,780,500.00 100,963, 425.00 Methaq Takaful Insurance Compnay M1.00000ETHAQ 150,000, 0.670 0.824 0.478102,322. 10 151,100. 00 5 (0.030) (4.29) 150,000,000.00 100,500, 000.00 Ras Alkhaima National Insurance Co.CRA1.00000KNI 121,275, 3.000 3.000 2.000 121,275,000.00 363,825, 000.00 AXA Green Crescent Insurance ComppCany PJSC A1.00000XAGCI 200,000, 0.703 0.740 0.323 200,000,000.00 140,600, 000.00 Al Dhafra Insurance Co. D1.00000HAFRA 100,000, 3.350 3.350 3.000 100,000,000.00 335,000, 000.00 Emirates Insurance Co. EIC 1.00150,000, 000 6.510 8.100 6.510 150,000,000.00 976,500, 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, 0.238 0.238 0.238 420,000,000.00 99,960, 000.00 Al Ain Alahlia Insurance Co. A10.00000LAIN 15,000, 35.160 37.000 33.000 150,000,000.00 527,400, 000.00 Al Buhaira National Insurance CompaCny A1.00000BNI 250,000, 1.800 1.800 1.800 250,000,000.00 450,000, 000.00 Abu Dhabi National Insurance ComppCany A1.00000DNI 570,000, 3.6104.000 2.70025,992. 00 7,200. 00 1 (0.040) (1.10) 570,000,000.00 2,057,700,000. 00 Al Fujairah National Insurance ComppCany A100.00000FNI 1,210, 245.430272.700 272.700 121,000,000.00 296,970, 300.00 Total 3,121,704,680 128,314.10 158,300. 00 6 3,376,494,680.00 8,796,352,706. 80 Index ADII Index Open 1,890.51 Index Close 1,883.82 Index Change (8.08) Index Change % (0.43) Traded 2 Declined 2 Advanced 0 Unchanged 0 Sector Capitalization 8796352707 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, 3.710 3.800 2.5001,539, 936.82 416,634. 00 31 (0.040) (1.07) 600,000,000.00 2,226,000,000. 00 FOODCO Holding Company F1.00000OODCO 120,000, 3.000 3.360 2.750 120,000,000.00 360,000, 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 1,539,936.82 416,634. 00 31 806,400,000.00 2,706,960,000. 00 Index ADCM Index Open 7,658.93 Index Close 7,853.49 Index Change (70.75) Index Change % (0.89) Traded 1 Declined 1 Advanced 0 Unchanged 0 Sector Capitalization 2706960000 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, 1.7001.800 1.350 785,862,000.00 1,335,965,400. 00 National Marine Dredging Co. N1.00000MDC 250,000, 4.490 6.250 2.900145,949. 01 32,500. 00 3 (0.030) (0.66) 250,000,000.00 1,122,500,000. 00 Gulf Medical Projects Company G1.00094MPC 698,916, 2.330 2.620 1.330 698,916,094.00 1,628,474,499. 02 Emirates Driving Company D1.00400RIVE 89,786, 14.960 15.740 7.960 89,786,400.00 1,343,204,544. 00 Abu Dhabi Aviation Co. A1.00200DAVIATION 444,787, 3.080 3.530 2.520 444,787,200.00 1,369,944,576. 00 Abu Dhabi National Hotels Co. A1.00000,000DNH 1,000, 2.330 3.680 2.330 1,000,000,000.00 2,330,000,000. 00 Total 3,269,351,694 145,949.01 32,500. 00 3 3,269,351,694.00 9,130,089,019. 02 Index ADID Index Open 2,517.69 Index Close 2,517.01 Index Change (2.04) Index Change % (0.08) Traded 1 Declined 1 Advanced 0 Unchanged 0 Sector Capitalization 9130089019 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, 2.000 2.370 1.35041,239, 142.06 20,494, 385.00 265 (0.020) (0.99) 7,862,629,603.00 15,725,259,206. 00 RAK Properties RA1.00000,000KPROP 2,000, 0.381 0.475 0.3271,094, 566.53 2,872, 732.00 37 (0.002) (0.52) 2,000,000,000.00 762,000, 000.00 Sharrjajah Group SG 1.0078,901, 086 0.850 0.890 0.770 78,901,086.00 67,065, 923.10 Total 9,941,530,689 42,333,708.59 23,367, 117.00 302 9,941,530,689.00 16,554,325,129. 10 Index ADRE Index Open 3,078.45 Index Close 3,063.10 Index Change (29.72) Index Change % (0.96) Traded 2 Declined 2 Advanced 0 Unchanged 0 Sector Capitalization 16554325129

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