14 oCToBER 2020 | 27 SAFAR 1442 HIJRI | VoLUME No. 08 | ISSUE 61 /emiratesbusiness.ae @emi_business emirates-business.ae

oP-ED PAGE 04 FOREX (AED) ENERGy TEN TOLA GOLD STOCK MARKET INDEX uSD 3.6800 YEN 0.0352 B r e n t Crude $42.39/bbl buLLION new Zealand gives us a lesson in ‘democracy’ Abu Dhabi - ADX 4,545.18 EuRo 4.3520 CHF 4.0795 WTI Crude $40.24 /bbl America’s deeply decentralised system best explains why the right to vote is now being treated as a political bloodsport, writes GBP 4.8116 CAD 2.8278 N a t u r a l G as $2.85 /MMBtu Dubai - DFM 2,237.36 DaviD Fickling PRECIOUS METALS EuroPE PAGE 07 New york - NYA 13,215.61 EXCHANGE RATE Sri Lankan Rs 50.04 Gold $1,896.50/t oz uK government split over carbon market after Brexit Indian Rs 19.86 Philippine Peso 12.98 Gold-Dubai AED229.75/gm Buy for London - UKX 5,969.71 Bangladesh Taka 22.32 (AED) 26,798.64 British Chancellor Rishi Sunak’s Treasury is pushing to replace the Pakistani Rs 43.87 Silver $24.30/t oz EU’s cap-and-trade system with an economy-wide carbon tax

Wednesday

Price UAE: AED 2

UAE’s clear Covid-19 strategy is heavy rains in BangLadesh a global model, says Al Shamsi NCEMA director general said despite pandemic that hit all nations, Emirates has proven its effective handling of crisis Abu DhAbi / WAM The UAE has The Director-General of the demonstrated how having National Emergency Crisis a clear strategy and and Disasters Management handling the imminent Authority (NCEMA) Obaid Rashid Al Shamsi, has said danger of Covid-19 with that the UAE is a pioneering professionalism, has global model in the way it re - allowed it to contain sponded to the pandemic, its repercussions thanks to the government's danger with professionalism, foresight and proactive ap - has allowed it to contain its proach in managing the crisis. repercussions. globally," he added. In a speech on the occasion "On International Day for He went on to say that of International Day for Disaster Reduction, we are having a clear strategy, that Disaster Reduction, Al proud to be among the relies on communication Shamsi said that while the ranks of developed nations and coordination, with no pandemic ravaged many in our response to crises," he room for rivalry, opposition countries around the world, said. "The UAE has become a or dissonance, has allowed Commuters and pedestrians get stuck after Dhaka’s Green Road left waterlogged following heavy rains in Bangladesh. The incessant showers the UAE has demonstrated pioneering model and its the UAE to rise to the fore - over the past one month and consequent flooding have not only flattened the crops and inundated agricultural fields and roads, but have how having a clear strategy achievements are being wit - front of effective decision- also pushed many farmers to the brink of starvation —DPA and handling this imminent nessed by all regionally and making. page 2

MuBadaLa investMent Company has a long-standing history of strategic investments in the healthcare sector Covid-19: MBZ Fund to help wildlife conservation groups Abu DhAbi / WAM grassroots conservation or - Mubadala invests $234m in ganisations whose finances The Mohamed bin Zayed have been impacted by the Species Conservation Fund pandemic. (MBZ Fund) on Tuesday an - To help organisations drug discovery firm Evotec nounced it will expand its avoid layoffs, cutbacks, or grant-making criteria to ceasing operations com - help partners meet core pletely, the MBZ Fund will While the Abu Dhabi-based company will subscribe to 5.6% of Evotec’s outstanding emergency operating needs enable grassroots organisa - precipitated by the Covid- tions on frontlines to apply shares, Novo is also investing $58.72m to support German firm’s accelerated growth 19 crisis. The move aims to relief grants of up to ensure the survival of small, $25,000. page 2 Abu DhAbi / WAM n Evotec resolved a Mubadala Investment Company on Tuesday announced that it is capital increase from pumping 200 million euros into its authorised capital Evotec SE, a German pharma - without pre-emptive ADX amends securities ceutical company that spe - rights against cash cialises in drug discovery lending, borrowing rules solutions. Evotec SE said that it resolved n Evotec will issue a total Abu DhAbi / WAM a capital increase from its au - of 11,478,298 new thorised capital without pre- Abu Dhabi Securities Ex - emptive rights against cash. shares to Mubadala change (ADX) on Tuesday an - Evotec will issue a total of and Novo Holdings, nounced the launch of its 11,478,298 new shares to increasing Evotec’s latest investment service Mubadala Investment Company cash reserves “Covered Short Selling” (CSS) and Novo Holdings A/S, increas - Evotec has continuously expanded its operations internationally with more than 3,400 to support the exchange’s employees at 14 global sites in Germany, the US, France, Italy, the UK, and Austria € ing Evotec’s cash reserves by by 250mn in total strategy of diversifying invest - The ‘Covered Short €250 million in total. ment and providing investors Selling’ will attract a new In this private placement capi - We will work with the company and its shareholders global sites in Germany, the US, with a broader range of hedg - segment of specialised tal increase, Mubadala Invest - to support Evotec’s strategic growth both through this France, Italy, the UK, and Austria. ing mechanisms. By doing so, ment Company, a sovereign By leveraging its proprietary it will attract a new segment and experienced investor with an entrepreneurial investment and our extensive institutional network platforms within a comprehen - of specialised and experi - investors, driving both mind-set and a long-standing Camilla Macapili Languille, sive network of high-value part - enced investors, driving both liquidity and trading history of strategic investments Head of Pharma & Medtech at Mubadala Investment Company nerships, Evotec aims to improve liquidity and trading volumes. volumes on the ADX in the healthcare sector, will in - global access to more precise and The launch of CSS comes vest €200 million ($234.88 mil - effective medicines. Future invest - after Securities and Commodi - lion) to subscribe for approx. 5.6 and to reinforce its ownership of innovative first-in-class and ments will accelerate Evotec’s ties Authority (SCA) approved volves investors selling % of outstanding Evotec shares. in the company of approx. best-in-class therapeutic ap - underlying business strategy ADX’s covered short-selling shares in a specific company Evotec’s existing shareholder 11.0% of outstanding shares. proaches resulting in a large co- and enable the company’s next guidelines, which enable in - that they do not own at the Novo Holdings A/S also will in - Evotec has developed a unique owned pipeline. Evotec has strategic growth phase. vestors to sell borrowed secu - time, but which they believe vest €50 million ($58.72 mil - strategy to become the global continuously expanded its oper - rities or financial securities to be over-valued, which cre - lion) to support Evotec’s leading platform company for the ations internationally with more nFor full story, read pledged for return to lenders. ates an obligation to buy accelerated growth ambition modality-agnostic development than 3,400 employees at 14 emirates-business.ae Covered short selling in - them in the future. World economy faces Union Properties posts AED509m Global oil demand to recover to uneven recovery: IMF profit in Q3 2020 pre-pandemic levels in 2023: IEA BlooMBerg DubAi / WAM

The International Monetary Union Properties an - The Paris-based agency said long-term growth in oil demand Fund (IMF) warned that the nounced on Tuesday its will be tamed by the switch to more efficient or electric vehicles world economy still faces an financial results for the uneven recovery until the three-month period ended BlooMBerg coronavirus is tamed even as on September 30, with a net The IEA reinforced its it offered a less-dire view of profit of AED509.2 million The oil market will suffer a long- view that global oil this year’s recession following The IMF forecasts world (approximately 12 fils per lasting blow from the coron - demand will plateau massive stimulus from central GDP to shrink 4.4% this share), while the profit for avirus, with demand taking years banks and governments. the nine-month period to recover and peaking at a lower around 2030, topping out The fund now forecasts year, compared with the of the current year reached level, the International Energy at lower levels than world gross domestic product 5.2% drop seen in June. to AED348.8 million Agency (IEA) said. forecast last year (GDP) to shrink 4.4% this For 2021, it sees growth (approximately 8 fils per After an unprecedented 8% year, compared with the 5.2% of 5.2%, down from 5.4% share). drop this year, global oil con - drop seen in June, according With these realised prof - sumption will return to pre-crisis mand will be tamed by the switch transportation. After 2030, an - to the latest World Economic its, the group has cleared all levels in 2023, provided Covid-19 to more efficient or electric vehi - nual growth will dwindle to just Outlook released on Tuesday. losses for 2019 as well as is brought under control next cles, the IEA forecast. Consump - 100,000 barrels a day. For 2021, the IMF sees large swaths of business. The for the first and second year, the Paris-based agency said tion will rise by about 750,000 “The era of global oil demand growth of 5.2%, down from report sets the tone for this quarter of this year, on Tuesday. barrels a day each year to hit growth will come to an end in the 5.4%. The report includes re - week’s annual meetings of the increased its assets to Even in that case, which is the 103.2 million a day in 2030. That’s next decade,” IEA Executive visions to June’s forecasts and IMF and World Bank — being AED6.2 billion from AED5.9 most optimistic scenario for oil about 2 million a day less than Director Fatih Birol said in the other historical data to reflect held virtually, like April’s billion, increased the Share - considered by IEA, the pandemic predicted in last year’s report. agency’s annual World Energy updated country weightings. spring meetings, due to the holders Equity to AED3 bil - has an enduring impact. The IEA The increase will be entirely Outlook. The contraction would still pandemic — as global policy lion from AED2.7 billion, reinforced its view that global oil concentrated in developing na - If the recovery from the pan - be the deepest since the Great makers discuss how to avert a and reduced its accumu - demand will plateau around tions — most notably India — demic is slower and there’s last - Depression, with Covid-19 wave of debt defaults in lated losses below the criti - 2030, topping out at lower levels and dominated by feedstocks for ing economic damage, oil having killed more than 1 mil - poorer nations resulting from cal threshold of 50 percent than forecast last year. plastics and other petrochemi - demand may only have a couple lion people and shut down the virus’s impact. to 41.8 percent. Long-term growth in oil de - cals, rather than fuel for road of years left to grow, the IEA said. WEDNESDAY 14 OCTOBER 2020 02 news

Since 2009, the Mohamed bin Zayed Species conservation Fund has supported 2,150 projects in over 180 countries UAE’s clear Covid-19 MBZ Fund offers relief grants to strategy is a global model, says NCEMA assist wildlife conservation groups Abu DhAbi / WAM The Director-General of the The move is aimed at ensuring survival of small and grassroots conservation National Emergency Crisis and Disasters Management organisations whose finances have been impacted by coronavirus pandemic Authority (NCEMA) Obaid Rashid Al Shamsi, has said Abu DhAbi / WAM that the UAE is a pioneering global model in the way it The Mohamed bin Zayed responded to the pandemic, Species Conservation Fund thanks to the government's (MBZ Fund) on Tuesday an - foresight and proactive nounced it will expand its grant- approach in managing the making criteria to help partners crisis. meet core emergency operating In a speech on the occa - Having a clear strategy, needs precipitated by the Covid- sion of International Day for that relies on 19 crisis. The move aims to en - Disaster Reduction, observed communication and sure the survival of small, on October 13, Al Shamsi grassroots conservation organi - said that while the pandemic coordination, with no room sations whose finances have n The MBZ Fund will ravaged many countries for rivalry, opposition or been impacted by the pandemic. enable grassroots around the world, the UAE dissonance, has allowed To help organisations avoid organisations on has demonstrated how layoffs, cutbacks, or ceasing op - having a clear strategy the UAE to rise to the erations completely, the MBZ frontlines to apply relief and handling this imminent forefront of effective Fund will enable grassroots or - grants of up to $25,000 danger with professionalism, decision-making, said ganisations on the frontlines to The Covid-19 relief grants offered by the Mohamed bin Zayed Species Conservation to help them avoid has allowed it to contain its Obaid Rashid Al Shamsi, apply relief grants of up to repercussions. Fund will be distributed in two rounds. The deadline to apply for the first-round of relief layoffs, cutbacks, or NCEMA Director-General $25,000 that can be used to grants from the MBZ Fund is October 31 "On International Day for cover core operating expenses, ceasing operations Disaster Reduction, we are such as staff salaries, office rent, completely proud to be among the ranks and other essential overhead Our hope is that other foundations and philanthropists join of developed nations in our were put under the test, costs, the fund said in a press the MBZ Fund in easing restrictions so that conservation response to crises," he said. "Everyone wondered, who statement on Tuesday. n The funding can be "The UAE has become a pio - will overcome this ordeal?" Razan Al Mubarak, the Found - organisations can make it through these challenging times and used to cover core neering model and its He also noted that "despite ing Managing Director of the weather the economic impact of the pandemic operating expenses, achievements are being wit - this storm that hit all coun - MBZ Fund, said the fund decided Razan Al Mubarak, Founding Managing such as staff salaries, nessed by all regionally and tries," the UAE has proven its to expand on its grant-making Director of the MBZ Fund globally," he added. effective handling of the cri - practices after conducting a sur - office rent, and other He went on to say that hav - sis by strengthening work vey in April 2020 of more than essential overhead costs ing a clear strategy, that re - between governmental and 300 of its grantees in 85 different Many grantees highlighted the jobs or their organisations to col - lies on communication and non-governmental bodies, countries. loss of revenue for their organi - lapse would be detrimental to coordination, with no room pulling together a national Aimed at gauging the effects sations due to park, zoo, and fulfilling our long-term mission." successful grants receiving fund - for rivalry, opposition or dis - effort to manage the pan - of the pandemic on its grantees, aquarium closures, the decline in Al Mubarak added, "Our hope ing at the end of the December . sonance, has allowed the demic. "This created a path the survey found that many eco-tourism, and the reduction in is that other foundations and phi - A second round of grant ap - UAE to rise to the forefront of which led to safety, so that conservationists were very con - student enrollment for courses lanthropists join the MBZ Fund in plications will be accepted be - effective decision-making. the UAE society was able to cerned about the financial fu - and fieldwork experiences. easing restrictions so that con - fore February 28, 2021, with The Director-General con - enjoy peace and stability." tures of their organisations. "It’s clear that conservation servation organisations can successful applications receiv - gratulated the country's lead - Al Shamsi concluded by Sixty-eight percent of respon - organisations cannot protect make it through these challeng - ing funding before the end of ership for its achievements saying that this success was dents said their organisation threatened species if they cannot ing times and weather the April 2021. For grant applica - and the people for their part not just due to government had been negatively impacted, meet basic needs like staff economic impact of pandemic." tion guidelines and criteria, visit in the success and for over - efforts only but also the UAE with 57 percent reporting their salaries and rent," said Al The Covid-19 relief grants will www.speciesconservation.org/ coming this challenging time. community which has organisation was experiencing Mubarak. "The fund has always be distributed in two rounds. The grants. Al Shamsi said that at the shown immense responsi - financial difficulties and 22 per - been dedicated to keeping con - deadline to apply for the first- end of 2019, and as govern - bility in dealing with the cent reporting their organisa - servationists in the field. Allow - round of relief grants from the nFor full story, read ments all around the world crisis. tions planned to eliminate jobs. ing conservationists to lose their MBZ Fund is October 31, with emirates-business.ae

UAE researchers develop UAE reports Sharjah conducts over 35,000 1,452 new biodegradable face mask recoveries inspections on businesses Abu DhAbi / WAM from Covid-19 The checkups on establishments since beginning of pandemic Khalifa University of Science Abu DhAbi / WAM and Technology today an - are aimed at ensuring they adhere to precautionary measures nounced a team of re - The Ministry of Health searchers has successfully and Prevention (MoHAP) ShARJAh / WAM developed the first working announced that it con - prototypes of NavaMASK, a ducted 96,989 additional The Commercial Officers at fully ‘biodegradable’, ‘biocom - Covid-19 tests over the Sharjah Economic Development patible’, environment-friendly NavaMASK will offer past 24 hours, using state- Department (SEDD) carried out and novel anti-viral adaptive excellent breathability with of-the-art medical testing 35,971 inspections on estab - face mask with nanofibers equipment. lishments since the beginning of that will have strong anti-mi - strong anti-microbial In a statement, the min - coronavirus pandemic until crobial properties. The re - properties and can be istry stressed its aim to September, to ensure they are searchers have already filed washed and reused continue expanding the adhering to precautionary for a patent license for the scope of testing nation - measures. mask’s bio-material. several times prior to wide to facilitate the early These campaigns were held NavaMASK will offer excel - eventual disposal detection of coronavirus periodically to ensure the safety lent breathability with strong cases and carry out the of all establishments and prac - The inspection campaigns were held periodically to ensure the safety of all establishments anti-microbial properties and necessary treatment. tices across the Emirate of Shar - and practices across the emirate of Sharjah —WAM can be washed and reused sev - Khalifa University's continu - As part of its intensified jah. Likely, SEDD intensified its eral times prior to eventual dis - ous commitment to finding so - testing campaign, MoHAP role during the current period Commenting on the inspec - posal. In addition, the mask is a lutions that directly contribute announced 1,315 new with the aim of ensuring that es - The industrial areas branch tions campaigns, Khalfan Al great candidate for safe dis - to serving the society, but also coronavirus cases, bring - tablishments adhere to the in - in Sharjah recorded highest Herathi, Director of the Branches posal to the environment be - the result of the University’s ing the total number of structions, circulars and policies Department at SEDD, stated that cause of its biodegradability funding of 14 research projects cases in the UAE to governing the conduct of busi - rate in number of visits the high rates of commitment of and biocompatibility. directly related to mitigating 108,608. ness within the precautionary reaching 16,061 ones. On economic establishments to the The project was the fruit of a the pandemic. This innovation MoHAP also noted an and preventive measures. the other hand, the precautionary measures reflects collaboration between Khalifa reaffirms our research efforts additional 1,452 individu - The Industrial Areas branch their awareness of the changes University and University of to develop areas that focus on als had fully recovered recorded the highest rate in the inspection campaigns that have occurred in the mech - Salerno, Italy. issues related to the commu - from Covid-19, bringing number of visits reaching reached 12,351 in the anisms of running business in Dr. Arif Sultan Al Hammadi, nity in general, especially those total number of recoveries 16,061 ones. On the other hand, central region branch the emirate. Executive Vice-President, that help find a solution to to 100,007. the inspection campaigns He also thanked the business Khalifa University of Science Covid-19.” reached 12,351 in the Central owners for their high commit - and Technology, said: "The in - nFor full story, read Region branch, while it reached in Kalba and Dibba Al Hisn ment and their keenness to im - novation of biodegradable nFor full story, read emirates-business.ae 4,145 in Khor Fakkan branch. branches, they reached 2,400 plement all the decisions issued NavaMask reflects not only emirates-business.ae As for the campaigns conducted and 1,014 respectively. by authorities. Dewa launches online campaign for World Energy Day The move is part of authority’s efforts to engage public to raise awareness on importance of energy conservation

DubAi / WAM a balance between develop - We renew our commitment to ment and the environment to Dubai Electricity and Water protect the next generation’s Authority (Dewa) launched an World Energy Day, to ensure a right to have a clean, healthy online campaign for World En - balance between development and and safe environment. We also ergy Day, which is observed on the environment to protect the next pledge to continue our pio - October 22 every year. generation’s right to have a clean, neering role in reducing car - This is part of its continuous bon emissions and mitigating efforts to engage the public in healthy and safe environment the effects of climate change. achieving sustainable develop - Saeed Mohammed Al Tayer, This is by increasing the use of ment and raise awareness on MD & CEO of Dewa clean and renewable energy the importance of energy con - and launching multiple con - servation, increasing energy servation programmes. We en - efficiency and supporting October 22, 2012. bers are also urged to take courage the public to visit our energy sustainability. World On its website Dewa pro - part in the Green Pledge on website or smart app for con - Energy Day is an initiative vides a World Energy Day the World Energy Day section On its website Dewa provides a World Energy Day tool-kit, that can be easily shared across servation tips and to use our adopted by His Highness tool-kit, that can be easily on Dewa’s website. social media. The public is encouraged to share hashtag #WorldEnergyDay to encourage their smart services to monitor Sheikh Mohammed bin Rashid shared across social media. Saeed Mohammed Al Tayer, friends and families to conserve energy and water for a responsible and sustainable lifestyle their consumption easily for Al Maktoum, Vice President The public is encouraged to MD & CEO of Dewa, high - savings, smart decisions and and Prime Minister of the UAE share the hashtag #WorldEn - lighted Dewa’s commitment to The strategy was launched by power capacity from clean en - happier lives. These services and Ruler of Dubai; along with ergyDay to encourage their supporting sustainable devel - HH Sheikh Mohammed bin ergy sources by 2050; to en - include the Smart Living initia - 54 countries, representatives friends and families to con - opment in Dubai, by launching Rashid Al Maktoum to make sure that Dubai has the lowest tive, the Smart Response ini - from the UN, the Arab League, serve energy and water for a outstanding projects and ini - Dubai a global hub for clean carbon footprint globally. tiative and the High Water and the African Union through responsible and sustainable tiatives that support the Dubai energy and green economy by "We renew our commitment Usage Alert, among others," the Dubai Declaration on lifestyle. Community mem - Clean Energy Strategy 2050. providing 75% of Dubai’s total to World Energy Day, to ensure added Al Tayer. WEDNESDAY 14 OCTObEr 2020 energy 03 Scotland’s SSE to sell energy waste plant stakes for $1.3b BloomBerg tries to position itself as a lead - antitrust approval by the Euro - ing developer of the technology. After the sale of its retail arm for 500 million pounds in pean Commission. SSE Plc rose after it agreed to The UK government wants to January, SSE is restructuring to focus just on generation SSE is now 75% of the way to - sell its 50% stakes in two en - boost capacity to 40 gigawatts wards its autumn 2021 divest - ergy from waste ventures as by 2030 from 10 gigawatts now. and networks. The company has 2.8 gigawatts of British ment target. “We continue to part of its plan to focus on re - SSE gained as much as 4.8% to offshore wind farms under construction as it tries to like SSE as a play on two struc - newable generation. the highest since July before position itself as a leading developer of the technology tural growth opportunities; The Scottish utility will sell its trading at 1,378.5 pence a share electricity networks and renew - holdings in Multifuel Energy Ltd by 9:52 am London. ables, in particular the growth and Multifuel Energy 2 Ltd to After the sale of its retail arm In June 2020, SSE identified company to invest 7.5 billion vestments and we are pleased in UK offshore wind, and today’s the European Diversified Infra - for 500 million pounds in Janu - its interests in MEL1 and MEL2 pounds in low-carbon energy to have agreed a sale that deliv - divestment will support the structure Fund III, a fund man - ary, SSE is restructuring to focus as an early priority for sale as infrastructure over the next five ers significant value,” said Gre - company’s increased focus on aged by First Sentier Investors, just on generation and net - part of a strategy to secure at years. gor Alexander, the company’s these two areas and can be con - for a total of 995 million pounds works. The company has 2.8 gi - least 2 billion pounds from dis - “While these multifuel assets finance director. sidered a positive,” Mark Nel - ($1.3 billion) in cash, the com - gawatts of British offshore wind posals by autumn 2021. The have been successful ventures The transaction is expected to son, analyst at Killik & Co LLP pany said in a statement. farms under construction as it cash from the sale will help the for SSE, they are non-core in - complete by late 2020 subject to said.

exPert meetinG the gulf time the gulf time the gulf time Date:14-10-2020 Date:14-10-2020 Date: 14-10-2020 the gulf time — Date: 14-10-2020 07/10/2020 07/10/2020 Notice Date: 12/10/2020 Notice No.: 155772/2020 aqil Hadi auditing uniteD arab emirateS Chartered accountants uniteD arab emirateS miniStrY of JuStiCe Government of Dubai notification by Publication in english and arabic miniStrY of JuStiCe Dubai Courts to attend the banking expertise meeting in the lawsuit Sharjah federal Court of first instance Sharjah federal Court of first instance Dubai Court of Commercial First Instance no. 656/2020 plenary Commercial announcement of Judgment by publication announcement of Judgment by publication in lawsuit no.: 4015/2019 Civil (Partial) Public notice The plaintiff: bank Saderat iran in lawsuit no.: 186/2020 Civil (Partial) Case number 3315/2020/60 - Payment order The defendants: 1. aLetiSam GeneraL traDinG (L.L.C) Filed by Plaintiff: SHarJaH internationaL airPort free Zone Filed by Plaintiff: SHarJaH internationaL airPort free Zone Case Subject: The Defendant is obliged to pay an amount of 487,497.43 AED (Four hundred and eighty seven thousand and four hundred and ninety seven dirhams and 2. moHSen aLi aSGHar ebraHimi, ( manager of ALETISAM GENERAL TRADING) To: Defendant: GoLDen SWorD inCorPoration (fZe) To: Defendant: eLeCtraKinG (fZC) 3. reZa maHmouD HeDaYati forty three fils), along with the annual interest of 9% starting from the date of the claim The court has ruled as in present by, until the complete payment. 4. onGHaei traDinG (L.L.C) The court has ruled as in present by, 5. aLi reZa morteZa onGHaei (manager of ONGHAEI TRADING) first: Cancel the Investment Services Agreement number (00696) first: Cancel the Investment Services Agreement number (5916) Notice Requested by: Group 4 falck Services LLC Capacity in the case: Plaintiff Represented by: Sughra Salim obaid bin Sarm Capacity in the case: Attorney The expert Dr. Aqil Hadi Hassan AI Hadi appointed by Dubai Courts of signed by both parties on 29/04/2000, and the lease contract signed by both parties on 06/10/2008 and the two warehouses Notice served to: Pulsar BTL Production and Services Industry LLC first instance in the lawsuit No. 656/2020 plenary Commercial, filed by signed on 29/04/2000. Capacity in the case: Defendant Bank Saderat Iran, and to carry out the task, the defendants aLetiSam lease contracts number B6-26 & B6-25 signed on 06/10/2008 & Place of residence unknown Second: Oblige the Defendant to pay to the plaintiff an amount 03/08/2015. GeneraL traDinG (L.L.C) , moHSen aLi aSGHar ebraHimi, ( manager Notice Subject: The Dubai First Instance Court issued its Judgment on 08/10/2020 as of aLetiSam GeneraL traDinG) , reZa maHmouD HeDaYati , onGHaei of AED 222,395.00, plus legal interest @ 12% from the date of filing Second: Oblige the Defendant to pay to the plaintiff an amount follows: traDinG (L.L.C) anD aLi reZa morteZa onGHaei (manager of the case until full settlement. 1.The enforcement of the commercial contract between the two parties of (AED 84,413.00), plus legal interest @ 5% from the date of filing 2.Obliged the defendant Pulsar BTL Production and Services Industry LLC to pay an onGHaei traDinG) are invited by yourself or by authorized third: Oblige the Defendant to pay reasonable court charges, amount of 487,497.43 AED (Four hundred and eighty seven thousand and four hundred representative to attend the banking expertise on tuesday 20/10/2020, the case until full settlement. and ninety seven dirhams and forty three fils) to the plaintiff Group 4 Falck Services LLC, 11:00 am in our office located in Dubai- Deira- Port Said -Al Wasl Business expenses, AED 500 against advocacy fees and reject any other third: Oblige the Defendant to pay reasonable court charges, along with the annual interest of 9% from the date of the claim 11/08/2020 until the th claims. complete the payment. Additionally the fees and expenses and the expense of 500 AED Center Building- beside J5 Hotel ( formerly Rotana Hotel), Street 27, 9 expenses, AED 500 against advocacy fees, and reject execution as lawyers fees. floor, office No. 902 , Makani No. 32428 94178, So, kindly attend on the of judgment on urgent basis... And you have the right to appeal the order within 15 days starting from the day after the mentioned date and submit all the documents to achieve our task. (Stamped & Signed) notice is served. Civil Clerks office best regards (Stamped & Signed) Sharjah federal Court of first instance Head of the Department banking expert Civil Clerks office /Sharjah federal Court of first instance/ Dr. aqil Hadi Hassan al Hadi /Signed/ abdulmanaf mohamed Yusuf

the gulf time the gulf time the gulf time the gulf time Date: 14-10-2020 Date: 14-10-2020 Date: 14-10-2020 Date: 14-10-2020 Notification Date: 12/10/2020 Notification Date: 13/10/2020 Notification Date: 13/10/2020 Notification No: 155852/2020 Notification No: 1157190/2020 Notification No: 153579/2020 Government of Dubai Government of Dubai Government of Dubai Government of Dubai Dubai Courts Dubai Courts Dubai Courts Dubai Courts notification by Publication notification by Publication notifications by Publication Legal notice by Publication in the newspapers Case no 11/2020/1598, Civil Partial Case no 13/2020/9566, labor Partial 1469/2020/11 Civil Partial no.5647/2020

Subject matter of the Case: Subject Matter of the Case: Notifications by Publication Details: Notifier: Diet House restaurant LLC Binding the defendant to pay (AED 88920) and fees, expenses, lawyer Binding the defendant to pay AED 48000 and 9 % legal interest from fees and 12 % interest from claim date to full. claim date to full payment. To Defendant: (1) Sohail Khan Sewal Khan The Notified Party: andrei kandratsenka -billroa se Place of residence is unknown Notification Applicant: PinaCLe reStaurant LLC As: Plaintiff Notification Applicant: HoPe abiLitation meDiCaL Center LLC (Unknown Address) As: Plaintiff Whereas the plaintiff: arabia taxi LLC To be notified: 1- DonaLD tonY eL bataL As: Defendant To be notified: 1- Gavin tHomaS moSeS As: Defendant The notifer do hereby notifies the respondent party to pay Represented by: abdel rahman Hassan mohammed al motawa the amount of AED 25.000(twenty five thousand dirhams) Subject Matter of the Notification: Subject Matter of the Notification: within (5) five days from the date of receipt of this notice The plaintiff filed Lawsuit against you to bind you to pay (AED 88920) The plaintiff filed Lawsuit against you to bind you to pay AED (48000) Has filed Lawsuit against you to bind you to pay AED 11333 and fees, and fees, expenses, lawyer fees and 12 % interest from claim date to and 9 % interest from claim date to full payment. Complain Ni and in case of non payment, the notifier will be left with no expenses, lawyer fees and 9 interest from claim date to full payment full payment. Session will be held on MONDAY, 19/10/2020, at 08:30 AM (mb204151063ae). Session will be held on Sunday, 28/10/2020, at 11:00 option but to resort to the Judicial department to claim the at litigation hall on line (BUILDING_DESC). Therefore, you or your AM at litigation hall on line (BUILDING_DESC). Therefore, you or your the judgement shall be self-executing immediately without bail. Session amount as well as court fees and expenses , lawyer fees will be held on Tuesday, 13/10/2020, at 10:00 AM at litigation hall on line representative must attend and submit what you have from legal representative must attend and submit what you have from and interest 12% . memorandums or documents to court at least three days before the memorandums or documents to court at least three days before the (BUILDING_DESC). Therefore, you or your representative must attend session. session. and submit what you have from memorandums or documents to court at least three days before the session. Notary public Case Manager Division Head Signed amira HaSSan Karam ibraHim KHamiS GHanem aL oStaD Case management office Stamped

the gulf time the gulf time the gulf time the gulf time Date: 14-10-2020 Date: 14-10-2020 Date: 14-10-2020 Date: 14-10-2020 Notification Date: 13/10/2020 Notification Date: 12-10-2020 Notification No: 153579/2020 Notification No: 155706/2020 Government of Dubai Government of Dubai Government of Dubai Government of Dubai Dubai Courts Dubai Courts Dubai Courts Dubai Courts notice by publication notice by publication notifications by Publication notifications by Publication no. (5659/3/2020) 1469/2020/11 Civil Partial 11/ 2020/ 1573 Partial Civil no. (56580/3/2020) The Warner: GHantoot buiLDinG materiaLS traDinG L.L.C The Warner: G.b.m.t StruCturaL manufaCturinG inDuStrieS (L.L.C) Notifications by Publication Details: Details of Publication Notice To the Defendant: 1. Joseph George bakhos The Warnees: The Warnees: To Defendant: (1) Sohail Khan Sewal Khan Unknown domicile 1- aLi aL tamimi ContraCtinG( LLC) 1- GLobaL Green briDGe ContraCtinG L.L.C - Dubai branCH Place of residence is unknown 2- KHem raJ ram ParKaSH , Indian, holding Indian passport No. 2- Saleem Gafoor Shaikh Gafoor Yusuf Shaikh , Indian Whereas the Plaintiff, Hamdan al Shamsi advocates and Legal z2422515 Whereas the plaintiff: arabia taxi LLC Consultants In our capacity as the Warner's legal Attorneys, the Warner shall notify In our capacity as the Warner's legal Attorneys, the Warner shall notify you to pay the amount owed by you; an amount of AED 784,586.50 you to pay the amount owed by you; an amount of AED 445,781.26 Represented by: abdel rahman Hassan mohammed al motawa Has filed a Case against you of which merits is to claim the Defendant (only Seven hundred and eighty-four thousand five hundred and eighty- (only Four hundred forty-five seven hundred eighty-one dirhams and to pay the amount of AED 98,777, as well as the charges, expenses, six dirhams and fifty fils). twenty-six fils). Moreover, The Warner shall notify you to pay the above- Has filed Lawsuit against you to bind you to pay AED 11333 and fees, attorney fees and legal interest at the rate of 9% as of the claim date Moreover, The Warner shall notify you to pay the above-mentioned mentioned amounts within (5) days from the date of receiving this expenses, lawyer fees and 9 % interest from claim date to full payment until the full payment and the judgment shall be self-executive without amounts within (5) days from the date of receiving this Notice. In case Notice. In case of rejecting to pay these amounts after the above- the judgement shall be self-executing immediately without bail. Session guarantee. of rejecting to pay these amounts after the above- mentioned period, mentioned period, the Warner shall start litigation against you in order will be held on Tuesday, 13/10/2020, at 10:00 AM at litigation hall on line the Warner shall start litigation against you in order to claim for amounts to claim for amounts owed by you. (BUILDING_DESC). Therefore, you or your representative must attend The Hearing of Monday, 26-10-2020 has been scheduled at 10:00 am at owed by you. and submit what you have from memorandums or documents to court the Remote Litigation Hall, BUILDING_DESC&, therefore, you, or your notary public at least three days before the session. legal representative, are kindly requested to attend. You shall submit notary public //Signed// the memorandums or documents you may have to the Court at least //Signed// //Seal// Case management office three days prior to the Hearing.

the gulf time the gulf time the gulf time the gulf time Date: 14-10-2020 Date:14-10-2020 Date:14-10-2020 Date:14-10-2020 Notification Date: 12/10/2020 Notice Date: 11-10-2020 Date of Notice: 22-09-2020 Service Date: 11/10/2020 Service No.: 155363/2020 Notification No: 155852/2020 Notice Number: 154991/2020 Notice No. : 145254/2020 Government of Dubai Government of Dubai Government of Dubai Government of Dubai Dubai CourtS Dubai CourtS Dubai CourtS Dubai CourtS Court of execution execution Court Dubai Court of first instance- Commercial Court notification by Publication notification by Publication notice by Publication Service by Publication Case no 11/2020/1598, Civil Partial on action no. (156/2020/250) Sale of a mortgaged real Property in execution no. 2853/2020/207 Commercial execution in Case no. 16/2020/3328 Commercial- restricted Jurisdiction Case Subject: Claiming to obligate the Defendant to pay an amount Subject matter of the Case: Subject of action: Requesting attachment of a real property in Subject of execution: Execution of Judgment rendered in Case No. (641/2020 Order for Payment), for the payment of Execution Amount of (AED 68,923.07)as well as fees, expenses and attorney's fees, and binding the defendant to pay (AED 88920) and fees, expenses, preparation of selling it in a public auction pursuant to Articles (25) and interest of 12% as of date of claim until full payment is affected. To lawyer fees and 12 % interest from claim date to full. (26) of Law No. (14) of 2008 on Mortgages in the Emirate of Dubai. equal to (AED 48934). Applicant for Notice: euro emirates electra mechanical Services LLC render an expeditious enforceable judgment without bail. Applicant for Notification: mashreq bank PSC Status in the Case: applicant for execution Plaintiff: mawarid finance Capacity: Plaintiff notification applicant: PinaCLe reStaurant LLC as: Plaintiff Capacity in the Action: applicant for execution Represented by: amer Saayed mohammed Saayed muhi ruushin al Represented by: eissa Salem ahmed alharsi almahri Capacity: attorney Represented by: essam abdulamir Hamadi al fadhli ai tamimi marzooqi Notified Party: 1- mohammed ali al boaraini Capacity: Defendant to be notified: 1- DonaLD tonY eL bataL as: Defendant Capacity in the Action: representative Status in the Case: attorney Of unknown place of residence Addressees: 1. Cheriachan vallarian vallarian Notify Parties 1- Durga Das Kishan Lal bhaiya bhaiya Subject of Service: The Plaintiff has filed the Case against you. Its subject is claim for Subject matter of the notification: Capacity in the Action: execution debtor Status in the Case: execution Debtor 2- Somanath abhoy Charan mukherjee mukherjee obligating the Defendant to pay an amount of AED (68,923.07), fees, The plaintiff filed Lawsuit against you to bind you to pay (AED Unknown residence expenses, attorney's fees, and legal interest of 12% as of the date of 88920) and fees, expenses, lawyer fees and 12 % interest from Subject of notice: Status in the Case: execution Debtor Subject of Summons: claim until full payment is affected, and to render an expedite claim date to full payment. Session will be held on MONDAY, We would like to notify you that attachment was imposed on your enforceable judgment without bail. 19/10/2020, at 08:30 AM at litigation hall on line (BUILDING_DESC). The Applicant filed the aforementioned Execution Case against you to property, which is the office located at Al Barsha South Third, Plot No.: compel you to pay the Execution Amount (Dhs. 48934) to the Applicant A hearing is set therefor to be held on sunday , corresponding to Therefore, you or your representative must attend and submit 277, Building No.: 2, Name of Building: Diamond Business Centre B-1, Unit for Execution or Court Treasury. 22/11/2020 at 08:30 am, at the Remote Litigation Hall what you have from memorandums or documents to court at No.: 211, Floor No.: 2, Area, 86.34 square meters, in settlement of the Therefore, the Court will commence the execution procedures against (BUILDING_DESC&). Therefore, you are required to appear in person or by your representative, and submit your relevant memoranda or least three days before the session. claimed amount of AED (164,840.57). you in case of non-compliance with the above decision within 15 days documents to the Court at least three days prior to the hearing. For your information and entry into force under the law. from the date of publication of this Notice. Case manager amira HaSSan Karam Head of Division Division Head Division Head mohammed bahaa-eldin noaman Yaqoob mohamed ahmed al Hamadi nassir abdullah al abdooli

the gulf time the gulf time the gulf time the gulf time Date: 14-10-2020 Date:14-10-2020 Date:14-10-2020 Date:14-10-2020 Notification Date: 12-10-2020 Notification date: 05/10/2020 Notification date: 13/10/2020 12/10/2020 Notification No. 156440/2020 Notification no.: 151760/2020 Notification no: 157051/2020 Government of Dubai Government of Dubai Government of Dubai uniteD arab emirateS Dubai CourtS Dubai CourtS Dubai CourtS Public notice Dubai Commercial Court of first instance miniStrY of JuStiCe notification by Publication in the case no. 16/2020/3713 Commercial Partial notification by Publication Sharjah federal Court of first instance in Lawsuit no. 2384/2020/16 Commercial Partial in Lawsuit no. 3684/2020/16, Commercial Partial Subject of the case: We humbly request to register this case and set the nearest hearing to Service of notice by Publication Subject of the lawsuit: Subject: consider the same and notify the Defendant and summon it to attend to in Case no. 3973/2020 Payment order hear the judgment and adjudicate to oblige the Defendant to remove the To compel the Defendant to pay an amount of (AED 13,542) including To compel the Defendant to pay an amount of (AED 62,668.20) with the name of the Plaintiff from its projects and addressing the governmental the legal interest at 9% p.a from the date of filing lawsuit until full charges, expenses, attorney's fees and interest at 12% from the date of entities and Dubai Municipality to remove the name of the Plaintiff from repayment. filed by: Plaintiff/ SHerif moHameD aHmeD ibraHim claim until full payment. any project of the Defendant and oblige the Defendant to pay charges, To compel the Defendant to pay the charges and expenses. expenses and attorney fees. Plaintiff: royal Destination technical Services LLC Plaintiff: Wisdom link transport L.L.C Title: plaintiff to the Defendant/ aL maSHaHeer bLDG. CLeaninG Notifier: al Shafar national Contracting L.L.C Capacity: Plaintiff Defendant: Professional friends technical Services LLC Defendant: CreSS mineraL Water traDinG L.L.C Notified: m e Developments LLC Capacity: Defendant Subject of the notice: Unknown residence Title: Defendant represented by/ CreSiLDa GriPo abDuL WaHab - filipino Subject of the notification: The Plaintiff has filed this case and humbly request to register this case and Subject of the lawsuit: national. set the nearest hearing to consider the same and notify the Defendant Has filed the a lawsuit against you to compel the Defendant to pay an and summon it to attend to hear the judgment and adjudicate to oblige amount of (AED 13,542) including the legal interest at 9% p.a from the Has instituted a lawsuit against you to compel the Defendant to pay an We ordered the defendant to pay to the plaintiff an the Defendant to remove the name of the Plaintiff from its projects and date of filing the lawsuit until full repayment, besides to compel the amount of (AED 62,668.20) including, charges, expenses and attorney's amount of Dhs. 100,000 and obliging her to pay the interest addressing the governmental entities and Dubai Municipality to remove Defendant to pay the fees and expenses. the name of the Plaintiff from any project of the Defendant and oblige the fees besides interest at 12% from the date of claim until full repayment, of 5% annually from registration date of the case until full Therefore, you are requested to appear before, either in person or Defendant to pay charges, expenses and attorney fees. therefore, you requested to appear before court, either in person or by payment and obliged her to pay expenses. The hearing of 15-10-2020 at 08:30 am in Remote Litigation Chamber was through your legal proxy to submit Memos, documents you have on set for the same. Therefore, you are summoned to attend in person or your Wednesday corresponding to 21/10/2020 at 08:30 am at the remote a legal proxy your to submit all memos or documents you have on Civil Clerk office legal representative and you shall submit your memos or documents to the chamber Building_DESC, at least 3 days before hearing. 27/10/2020 at 08:30 am at the remote chamber, Building DESC at least court at least three days before the hearing. (Signed & Sealed) Head of Case 3 days before hearing. manager of the case /amira Hussein Karam/ al murr ahmed abdullah Khamis al murr

the gulf time the gulf time the gulf time the gulf time Date: 14-10-2020 Date: 14-10-2020 Date: 14-10-2020 Date: 14-10-2020 07/10/2020 07/10/2020 Ref No :0922202014593206 uniteD arab emirateS uniteD arab emirateS uniteD arab emirateS Issue Date : 22-09-2020 miniStrY of JuStiCe miniStrY of JuStiCe miniStrY of JuStiCe uniteD arab emirateS miniStrY of JuStiCe Sharjah federal Court of first instance Sharjah federal Court of first instance notify Defendant by Publication announcement of Judgment by publication announcement of Judgment by publication before the office of case management-ajman aPPLiCation to Serve JuDGment bY PubLiCation in lawsuit no.: 6223/2019 Civil (Partial) in lawsuit no.: 5071/2019 Civil (Partial) federal Civil first instance Court notice of Judgment Service by Publication Filed by Plaintiff: Hamriyah free Zone authority, Filed by Plaintiff: Hamriyah free Zone authority, in case no. 0002208/aJCfiCirea2020/ CiviL (Partial) issued by Sharjah Civil Court of first instance in the case no SHCfiCiCom2016/m0003320, Plenary Commercial To: Defendant: abuhail international (fZe) (Previously Sola international fZe) To: Defendant: royal Petro energy (fZC) to, Defendant: babar mehmood muhammad mehmood To: The court has ruled as in present by, The court has ruled as in present by, Judgment Debtor : aZiZur raHman ataur raHman. first: Cancel the Lease Agreement and Secondment of Employees unknown residence: UAE, Ajman, Al Salam St., Industrial Area, Al Kindly be informed that this court ruled, on 30-09-2018 . against you in the case of first: Oblige the Defendant to pay to the plaintiff an amount of (AED Eight the above-mentioned case in favour of the United Arab Bank PJSC as follows: number: L2-(13031) signed by both parties on 04/10/2004 and vacate plot hundred seventeen thousand & two hundred fifty), and default interest @ Rawda 3, Villa 87 number: L2-16. 5% from the date of filing the case until full settlement, provided that it Court has found quasi in rim: should not exceed the amount of principal debt. We hereby notify you that; you shall attend in person or by an To obligate the defendant to pay to the plaintiff the amount, nine Hundred Second: Oblige the Defendant to pay to the plaintiff an amount of (AED authorized attorney before the office of case management-Ajman Seventy-two thousand, Seven Hundred Sixty-nine Dirhams and eighty-five fills in 377950), and legal interest @ 12% from due date on 21/04/2020 until full Second: Cancel the agreement dated 13/06/2013 signed by both parties; Federal Civil First Instance Court, in session dated 21/10/2020, office addition to late payment interest of 3% from the date of lodging the case statement settlement and vacation, provided that it should not exceed the amount until full payment, and interest shall not exceed the judgment principal amount. It of principal debt. reinstate the situation as before the contracted date by obliging the no. (Case Manager's Office No.6) and to submit a Rejoinder, has also been ruled that provisional attachment issued pursuant to the petition Defendant to vacate the plot number: 2F-02B3, which is the subject of the attached with all documents, to the above case within a period order No 3230 of 2016 shall be upheld within the judgment amount in accordance third: Oblige the Defendant to pay the upcoming rent and service charge said lawsuit. not exceed (10) ten days from the notification date, to consider the with this ruling. Defendant shall bear reasonable charges, expenses and one with effect from 21/04/2020 until actual vacation and full settlement. case which number mentioned above, in your capacity as thousand dirhams as lawyer's fees. Court request for upholding the travel ban order third: Oblige the Defendant to pay the court charges, expenses, AED 1000 previously issued is denied. Defendant. This judgment is appealable within the legal period of ...... days from the following third: Oblige the Defendant to pay the court charges, expenses, AED 1000 against advocacy fees and reject any other claims. day of its publication. against advocacy fees and reject execution of judgment on urgent basis. Director of Judicial Services (Stamped & Signed) Judge (Stamped & Signed) Civil Clerks office Iman Ahmed Al-Awadi JamaL aL SonooSi ibn boCHti Civil Clerks office Sharjah federal Court of first instance - There is a Signature Sharjah Court Sharjah federal Court of first instance - There is a Seal of Ministry of Justice Civil Court of First Instance (Signature seen) (Stamp seen) wednesday 14 october 2020 04 OPINION The gulf Time New Zealand gives US Chairman of ThE board a lesson in ‘democracy’ Saeed Saif America’s deeply decentralised system best explains why the

Tel: 02-4468000, Fax: 02-4485401 right to vote is now being treated as a political bloodsport Website: www.emirates-business.ae Email: [email protected], [email protected], [email protected] Printed at: al Wathba Printing Press

DaviD Fickling

Currency traders are hat if the coron - avirus pandemic Wdelayed an elec - betting against Trump tion and no one cared? That’s pretty much what’s ith pollsters predicting that Donald Trump will soon be out of happening in New Zealand, the picture, global investors can finally breathe a big sigh of re - where Prime Minister Wlief. Foreign policy could become more predictable, so they can Jacinda Ardern appears to start buying Chinese government bonds, which actually pay interest. They be cruising towards victory New Zealand PM Jacinda Ardern speaks to hundreds of students ahead of Saturday’s election at Victoria University in can also invest in the mainland, where a successful Covid-19 containment in an election this Saturday Wellington, New Zealand, on Tuesday —DPA strategy has allowed businesses to resume. Money managers won’t have after rival politicians sought to be on the edge all the time. postponement from the the opposition in agreeing You can see the differ - This is certainly what traders are betting on. In recent weeks, the yuan original September 19 date. to the delay doesn’t appear ence in electoral boundary Thanks to a robust has appreciated strongly against the US dollar — so much so that over the At a time when America is to have seriously damaged reviews. In the US, they’ve weekend, the People’s Bank of China (PBOC) removed one of the signature tearing itself apart over the her position. Indeed, the been used by state legisla - response to the tools it uses to stabilise a weaker currency. Shorting the yuan just became crises of Covid-19 and a minor flare-up of Covid-19 tors to gerrymander dis - pandemic, life for New cheaper. president who’s refused to cases that prompted it has tricts since the 19th Zealand’s 4.9 million To unpack this, it’s worth asking what drives a stronger yuan. Is it commit to a peaceful trans - now been more or less century, resulting in ab - people is returning to a China’s widening trade surplus, its resounding success in virus contain - fer of power after earlier stamped out, a decent surdities like the situation ment, foreign portfolio inflows, or Beijing’s relationship with Washington? calling to set back the vote it - achievement for her to take in North Carolina, where semblance of normality. China’s trade surplus has been widening since May, as it exported self, the spectacle of a nation to the ballot box. Republicans hold 10 of 13 As a result, having run masks, protective gear and work-from-home electronic equipment to the tackling the same problems The level-headedness congressional districts de - close to the opposition rest of the world. At around the same time, the PBOC tightened money with calm consensus seems with which elections are spite winning barely more for most of her term in market liquidity, causing a U-shaped rebound in government bond yields. extraordinary. handled can’t be explained than half the vote at the Yet neither an improving current account nor a higher interest rate dif - away by the idea that New 2018 midterm elections. office, PM Jacinda ferential propelled the yuan higher. Zealand is a “young democ - In other English-speaking Ardern has a poll lead The currency didn’t really take off until early August, when China and The level-headedness racy.” It’s been holding elec - democracies, such decisions which may put her on the US said they would review their phase-one trade deal, despite diplo - with which elections tions since the 1850s, the are so uncontroversial that track to govern without matic scuffles over the “China plague.” Later that month, after the two are handled can’t be indigenous Maori have had they barely enter the public sides met and reaffirmed their commitment, the yuan extended its rally. the vote since 1867, and consciousness. In Australia, a coalition partner The currency’s outlook is getting even rosier in October, as the chance of explained away by women won full rights in boundary changes by the na - a Joe Biden win rises to a record probability of 86%. the idea that New 1893, decades before most tional elections commission We’ve seen this before. In 2017, the yuan was also climbing, driven by Zealand is a “young other countries. In that before last year’s general holiday — or Saturdays, as a widening interest rate differential between China and the US. That trend democracy.” It’s been sense, the real developing poll notionally robbed the happens in New Zealand quickly reversed in early 2018, when Trump floated the idea of a trade democracy is the US. After a government of its majority and neighbouring Australia war. In the last two years, US-China tension has become the biggest trigger holding elections since brief thaw during the post- before the first ballot was — would also make it eas - for the yuan’s movements. the 1850s, the Civil War Reconstruction cast, but there was never any ier for people to exercise Dollar-based foreigners, lured by China’s high yield, have been wanting indigenous Maori have era, it only started granting suggestion that Prime Minis - their democratic rights. to buy yuan-based assets for a while. But Trump has always been the road had the vote since equal suffrage to all adult ter Scott Morrison would try Unfortunately, it’s un - block, threatening to tear up trade deals, forbidding pension funds from citizens when the 1965 Vot - to overturn the decision. likely that such incremen - buying Chinese assets, and posting whimsical tweets in the middle of the 1867, and women won ing Rights Act overturned A barrier to such an tal reforms on their own night. Now that there’s a strong belief a blue wave will wash over the full rights in 1893, the Jim Crow laws that agency in the US is that the will be enough without a White House and Capitol, traders are finally positioning for a post-Trump decades before most Southern states had used Constitution firmly vests change in attitude. Like world, which sees the yuan as an important asset class. other countries to keep African-Americans the management of elec - many young things, the In November 2016, when Trump staged a surprise presidential win, the away from the polls. tions in the hands of the fuller democracy that Mexican peso, viewed as a proxy for Trump’s anti-trade stance, tumbled. The history of racist vote- states, which in turn dele - America became accus - Four years on, Mexico almost seems like an afterthought. Trump set his suppression combined with gate much of the manage - tomed to after 1965 is still sights on a much bigger emerging power. The yuan is where the action is. New Zealand certainly America’s deeply decen - ment of polls to more fragile. Half of voters in the isn’t immune to Trump- tralised system best ex - than 10,000 municipal- 2018 US midterms were —Bloomberg style populism. Winston plains why the right to vote level jurisdictions. That’s a born before the Voting Peters, Ardern’s deputy is now being treated as a contrast to New Zealand, Rights Act was passed, and prime minister, has been political bloodsport, rather Australia, and the UK, much of that law has been railing against migration than as a non-partisan where the running of elec - gutted by the Supreme from Asia under the banner bedrock of democracy. tions all happens at the na - Court since 2013. other opinion of the New Zealand First In common with most tional level. The most unique quality party for decades, all while other English-speaking Still, within those restric - that English-speaking occupying a string of high democracies, the official tions the US electoral democracies other than the offices as one of the most overseers of the ballot system has over the cen - US share is something significant politicians of his process in New Zealand are turies become more and that’s not written in any HK market finds hope generation. not elected local govern - more unified. Constitutional law but is nonetheless cru - Part of it is probably ment officials but an amendments have abol - cial: a belief across all down to the politics of the appointed national com - ished restrictions on branches of politics that in Xi Jinping ’s tea leaves situation. Thanks to a ro - mission. That lack of direct grounds of race, gender, poll the right to vote is funda - bust response to the pan - democratic accountability taxes and age, and estab - mental, and non-nego - hina’s leaders recognise the only by permission of Beijing. demic, life for New is, paradoxically, a good lished popular elections to tiable. A nation founded on importance of symbolism. China has been advancing this ar - Zealand’s 4.9 million peo - thing. the Senate. Laws passed by the principle that all people CDecisions such as the posi - gument since the publication of a ple is returning to a sem - Unlike party-aligned Congress have mandated are created equal and en - tioning of officials at public events, white paper on Hong Kong in blance of normality. As a elected administrators, the the use of single-member dowed with inalienable even the order in which names are 2014; the policy acquired a vis - result, having run close to senior bureaucrats on districts in the House, guar - rights would d o well to read out on news bulletins, delin - ceral level of reality for the city’s the opposition for most of the Electoral Commission’s anteed voting rights, regu - heed that lesson. eate relative power relationships. people after the passing of a na - her term in office, Ardern board have no particular lated campaign finance and Those who can interpret the ar - tional security law at the end of now has a commanding stake in which side is ad - attempted to unify voting- —Bloomberg cane signals of communist proto - June this year. poll lead which may put her vantaged at the ballot box machine technology. col have built careers out of it. The The significance of the Shenzhen on track to govern without and owe their greatest loy - States that have chosen David Fickling is a Bloomberg discipline even has a name: tea- event doesn’t end here, though. Big a coalition partner. That’s alty to their professional to delegate the manage - Opinion columnist covering com - leaf reading. things may be afoot just across the an unheard-of result since reputations. As a result, ment of elections to the mu - modities, as well as industrial and In this light, the postponement border. State media have billed Xi’s the country switched to a there’s no sign of the polit - nicipal level could equally consumer companies. He has been a of Hong Kong Chief Executive Car - address in the city on Wednesday form of proportional repre - ical conflicts of interest that well delegate to an inde - reporter for Bloomberg News, Dow rie Lam’s annual policy address as an “important” speech. Commu - sentation in the 1990s. Her so often mar the manage - pendent federal agency. Jones, the Wall Street Journal, the looks anything but a random nist Party leaders gather later this display of magnanimity to ment of US polls. Holding the vote on a public Financial Times and the Guardian scheduling clash. Lam cancelled month for a meeting that will set the city’s equivalent of the US State economic strategy for the coming of the Union to attend festivities five years, and the Greater Bay with China’s President Xi Jinping Area — a plan to knit together nine for the 40th anniversary of the mainland cities with Hong Kong Shenzhen special economic zone. and Macau into a regional power - The chief executive said she now house — may have a key role. Italy is suddenly looking very French aims to deliver the speech by late China has issued a pilot reform November, after travelling to plan to build Shenzhen into a The change in direction is only partly a response to the pandemic Beijing to brief Communist Party “demonstration area of socialism officials on her plans. with Chinese characteristics,” the FerDinanDo giugliano Chinese officials had to know state-run Xinhua news agency Italy had shifted away how this would look. Whatever reported. The country will push from the command Lam’s protestations, it has the ap - forward cooperation between he pandemic has pearance of a calculated act. The Shenzhen and Hong Kong to a prompted govern - economy model that impression it leaves is of an obedi - higher level, it said. Tments to take a more dominated the country ent provincial leader abandoning The Greater Bay Area may ap - active role in managing after the late 1930s. the most important day in her cal - pear quixotic; it hasn’t been ex - their economies. Politicians Under Mario Draghi’s endar — an occasion when she plained how Shenzhen and the are giving out generous loan speaks directly and uninterrupted other mainland cities can deepen guarantees and subsidising stewardship, Italy’s to the city’s people for hours — integration with an economy as wages to reduce the risk of Treasury embarked on after being summoned by her different as Hong Kong’s, which a wave of bankruptcies and one of the privatisation bosses. After all, the Shenzhen maintains its own customs con - mass unemployment. The programs in western celebration is hardly a spur-of-the- trols, currency and legal system. next step is taking over Europe, encompassing moment event: The 40th anniver - But it may be premature to dismiss companies directly. After a Workers of the entertainment business gather at the Piazza del Duomo to protest sary has been coming for, well, the fanfare out of hand. Hong spree of recent acquisitions lack of work amid the coronavirus pandemic in Milan, Italy, on October 10 —DPA everything from 40 years. Why did Lam’s cancella - Kong’s Hang Seng Index rose the — from payment systems to banks to utilities tion arrive only two days before most in more than two months, airlines — Italy appears to largest privatidation pro - government of the left-of- her address? buoyed by hopes of what Xi may be headed in this direction grams in western Europe, center Democratic Party The presumption must be that say in Shenzhen. already. encompassing everything and the populist Five Star state lender, has acquired a the Beijing government is sending There are two reasons to expect It’s a troubling prospect. from banks to utilities. Pub - Movement has put a stop to 7.3% stake in Euronext as a message. This can be sum - some largesse to flow Hong Kong’s For much of the past lic spending still accounted all that. Last week it un - part of the latter’s takeover marised as: Hong Kong is subordi - way. For one thing, the Communist three decades, Italy had for 48.7% of gross domestic veiled the new board of Ali - of exchange operator Borsa nate to the central government, Party likes to use the carrot as well shifted decisively away from product last year. talia, the chronically Italiana. Similarly, CDP has and the autonomy bestowed by as the stick. Hong Kong has had lit - the command economy But from left to right suc - unprofitable airline, and become the top investor the “One Country, Two Systems” tle but stick for the past three model that dominated the cessive governments tried will spend 3 billion euros of Nexi SpA following the framework under which the for - months. country after the late 1930s. to introduce structural re - ($3.5 billion) nationalising digital-payment company’s mer British colony returned to Chi - Under Mario Draghi’s stew - forms and open up to pri - the company. purchase of SIA SpA. nese sovereignty in 1997 exists —Bloomberg ardship, Italy’s Treasury vate investment. Meanwhile, Cassa De - embarked on one of the The present coalition positi e Prestiti SpA, Itay’s —Bloomberg wednesday 14 OCTOBeR 2020 retail/aViatiON 05

retail inDustry for weeks has been trying to coax consumers to spend earlier Apollo’s Sun Country Air to revive IPO plans Amazon’s Prime Day steals BloomBerg Apollo Global Management Inc’s Sun Country Airlines is planning to restart its push for rivals’ Black Friday spotlight an initial public offering as soon as next year if travel demand picks up across the industry, said the carrier’s top executive. With the event delayed to October from July this year, the e-commerce Sun Country’s core business giant could yank the pivotal holiday season forward —a “Christmas creep” of taking Midwest leisure trav - ellers to Florida, Las Vegas and Sun Country’s core BloomBerg other warm-weather destina - business of taking tions has already recovered Midwest leisure Amazon.com’s two-day Prime enough to turn in a profitable travellers to Florida, Day sale kicked off on Tuesday, summer, Chief Executive Officer Las Vegas and other which is expected to give the Jude Bricker said. world’s largest e-commerce The airline’s charter work for warm-weather company an early advantage sports teams and casinos is destinations has already over brick-and-mortar rivals still bouncing back, and the com - recovered enough to turn contending with pandemic- pany began cargo service in in a profitable summer, spooked consumers wary of bat - May for Amazon.com Inc. CEO Jude Bricker said tling Black Friday crowds. “We’re going to fly as many With Prime Day delayed to flights in October as we flew October from July this year, in February,” Bricker said in Amazon single-handedly could a Zoom interview from the an - Bricker began implementing a yank the pivotal holiday season nual International Aviation low-cost strategy by cutting ex - forward — a long-predicted Forecast Summit in Cincinnati. penses and adding seats to the “Christmas creep.” More than “We’re in the sweet spot of aircraft. three in four consumers plan to everything that could be good Profits surged and Sun Coun - shop earlier this year than a year about owning an airline right try began preparing for an IPO ago, with a third citing health now but we need to see a re - as soon as April 2020 — only This file photo shows an employee stacking items to be shipped at the Amazon.com fulfillment centre in Phoenix, Arizona and safety concerns, according covery of airline traffic.” for the pandemic to dash those to an International Council of to delay some deliveries. Ama - Bricker’s upbeat view sug - plans. Shopping Centers survey re - zon reported record profits last n More than three in four consumers plan to shop earlier this gests at least the potential for a Even now, “explaining an leased. Meanwhile a Harris Poll quarter, and investors have year than a year ago, with a third citing health and safety revival of Sun Country’s IPO outperformance in passenger conducted with Bloomberg pushed the shares up some concerns, according to an International Council of plans despite industry devasta - strength in the market could be found that almost half of con - 85% this year, giving the com - tion caused by the coronavirus difficult” without a sustained sumers plan to do most or all of pany a market value of about Shopping Centers survey released pandemic. Apollo acquired the rebound across the industry, their shopping on the web. $1.7 trillion. airline in December 2017 after Bricker acknowledged. “This is unprecedented de - n Amazon competitors who still get most revenue in stores mand,” said Andrew Lipsman, an Amazon earlier this analyst at eMarketer Inc who have to balance drumming up business with protecting year hired more than expects online spending of al - public health. Eight in 10 shoppers say they’re concerned 175,000 people for its most $10 billion over the packed stores could spread Covid-19, meaning retailers Pilots shut down Pratt & sprawling network two-day period, with more than that aren’t offering deals online could lose out $6 billion spent on Amazon. Whitney engine mid-air of fulfillment centres Amazon’s delivery machine, con - after a spike in ceived for convenience, now of - That means Amazon could con - chief economist at the National BloomBerg engine in the western city online orders briefly fers the added benefit of safety tinue to generate double-digit Retail Federation. of Ahmadabad on September overwhelmed the compared with in-store shop - sales growth despite a weak job Amazon competitors who still Pilots of an Airbus SE 19, people familiar with the company, forcing it to ping. Consumers initially turned market and congressional grid - get most revenue in stores have A320neo jet in India shut matter said, asking not to be to the company to stock up on lock over further stimulus pack - to balance drumming up busi - down a Pratt & Whitney en - identified because the matter delay some deliveries toilet paper and hand sanitiser in ages such as $600 weekly ness with protecting public gine mid-air last month after is confidential. April. Then they needed elec - unemployment assistance that health. Eight in 10 shoppers it encountered problems, peo - Both the engines’ turbines tronics to help families work and expired this summer. say they’re concerned packed ple familiar with the incident had already been modified It’s a winning combination for attend school from home. Sum - Prime members who didn’t stores could spread Covid-19, said, reviving concerns about following repeated glitches, Amazon, which earlier this year mer became a season of patio lose their jobs could actually meaning retailers that aren’t the turbines that have been the people said. hired more than 175,000 people furniture and swimming pools have a little extra to spend and offering deals online could plagued by issues since their Indian regulators are look - for its sprawling network of ordered online for staycations. feel the urge to splurge since lose out. debut in early 2016. ing into faults in the engine’s fulfillment centres after a spike Now come the holidays, Ama - most households have cut back The industry for weeks has The twin-engine jet, oper - heat-management and oil sys - in online orders briefly over - zon’s busiest time of year, with on travel, eating out and other been trying to coax consumers to ated by Go Airlines India Ltd, tems as possible causes, one of whelmed the company, forcing it Covid-19 cases spiking yet again. expenses, said Jack Kleinhenz, spend earlier. landed safely using its other the people said.

coronavirus test at DuesselDorf airport Allegiant weighs used Airbus planes, defies travel collapse The carrier’s focus on leisure travel has provided a measure of insulation from the plunge in international demand BloomBerg

Allegiant Airlines is weighing purchases of used Airbus SE planes as soon as early 2021, bucking an unprecedented travel collapse that has gutted demand for jetliners. The carrier has been “inun - dated” with calls from airlines and aircraft lessors seeking to sell planes at deep discounts as they contend with the coron - Allegiant Air would consider jet deals in “onesies and twosies” but would look at something avirus pandemic, said Allegiant larger if demand continues to grow “and we don’t go backwards,” said CFO Greg Anderson Chief Financial Officer Greg An - People queue for the coronavirus test in the Centogene walk-in centre in Terminal C of Duesseldorf International Airport in derson. The company would Duesseldorf, North Rhine-Westphalia, on Tuesday —DPA Allegiant Airlines has been “inundated” with calls from consider jet deals in “onesies airlines and aircraft lessors seeking to sell planes at deep and twosies” but would look at something larger if demand discounts as they contend with the coronavirus pandemic, continues to grow “and we don’t said the carrier’s Chief Financial Officer Greg Anderson go backwards,” he said. Poland’s Allegro surges 63% in debut “It’s an opportunity for us to buy A320s used and to get A320 planes. The Las Vegas- about 125 cities, trimmed third- BloomBerg pany’s value to 72 billion zloty option for foreign investors, those at lower fixed costs than based airline is a unit of Alle - quarter flying capacity 6.5% ($19 billion). The firm and its who took up most of the in the past,” Anderson said in an giant Travel Co. from a year earlier, well below Poland’s newest stock listing private-equity investors priced shares in offering,” Jaroslaw interview during Boyd Group’s The current market value of a reductions by other airlines. was a roaring success on its first the IPO at the top end of a mar - Niedzielewski, head of invest - International Aviation Forecast 2010-vintage A320 has plunged “As early as next year we can day of trading, taking over as keted range, cashing in on soar - ments for Investors TFI mutual Summit. 20% since the start of the year start getting back to an earnings the biggest stock on the coun - ing demand for digital sales as fund, said. “But the scale of the “We’re trying to keep as much to $16.5 million, Ishka Ltd, discussion versus a cash flow try’s main exchange and adding consumers stuck at home in - price jump is a shock.” flexibility as possible, but we’ve which tracks aircraft trading, break-even discussion,” he said. almost two-thirds in market dulge in virtual retail therapy. Trading volume on Allegro got some irons in the fire in the said in a report. “If things continue as they have value. “Allegro provides high expo - shares reached about 4 billion event we feel good about de - The carrier’s focus on leisure been over the past few months, Allegro.eu SA shares jumped sure to the fast-growing Polish zloty, a record daily volume for mand, and it’s coming back.” travel has provided a measure a slow and steady build, we feel 63% to close at 70 zloty in its e-commerce market and draws single stock in Warsaw. It stood Allegiant is known for buying of insulation from the plunge in very optimistic we’ll have an first trading session in Warsaw comparison to Amazon, which for almost 80% of total equity used aircraft and currently has corporate and international de - earnings story and a very mean - on October 12, lifting the com - may be an attractive investment traded value on the exchange. 24 Airbus SE A319 jets and 57 mand. Allegiant, which serves ingful one at that.” Singapore Air’s A380 restaurant tickets sold in 30 minutes About half the seats in each jet will be used for dining, in line with restaurant guidelines on group limits and distancing BloomBerg economy and S$53.50 for econ - ing for spots on two cruise omy. Customers can also pay With flights largely ships that will start sailing Singapore Airlines Ltd said all with frequent-flyer miles. grounded by the from Singapore next month on seats on its Airbus SE A380 jet - After lunch on the initial round-trip journeys as the city- liner pop-up restaurants were dates of Saturday and Sunday, coronavirus pandemic, state aims to give residents an reserved within 30 minutes of October 24 and 25, sold out, Singapore Airlines is trying outlet for their wanderlust. bookings opening. Singapore Airlines said it will novel ways to raise money, Operator Genting Cruise With flights largely grounded extend the offer for a further including using two of the Lines has received more than by the coronavirus pandemic, two days the following week - 6,000 bookings in 5 days, while Singapore Airlines is trying end and also add a dinner op - superjumbos parked at competitor Royal Caribbean novel ways to raise money, in - tion on all four days. Changi Airport as International said bookings cluding using two of the super - About half the seats in each A meal in a Singapore Airlines A380 suite costs S$642 ($474), while seats in business class are up 500% compared with are going for S$321, dropping to S$96.30 for premium economy and S$53.50 for economy temporary eateries jumbos parked at Changi aircraft will be used for dining, the past two weeks, reported Airport as temporary eateries. in line with restaurant guide - seat as many as 471 people, ac - quarter through June and is the Straits Times . A meal in a suite costs S$642 lines on group limits and dis - cording to its website. laying off about 20% of its ice whereby a private chef re - The boats will sail at a re - ($474), while seats in business tancing, the carrier said in a Singapore Airlines, which workforce, is also selling a heats, plates and serves cus - duced capacity of 50% and the class are going for S$321, drop - statement. In normal flying suffered a record S$1.12 billion range of first- and business- tomers in their homes. journeys are only open to resi - ping to S$96.30 for premium service, the carrier’s A380s can ($827 million) net loss in the class meals and offering a serv - Meanwhile, demand is soar - dents of Singapore. WEDNESDAY 14 OCTOBER 2020 06 politics

South China Sea remains MAlAysIA is facing another surge in virus cases that threaten a rebound in the economy volatile: Philippine official BloomBerg Anwar’s bid for power fails The situation in the South China Sea remains volatile and uncertain amid “aggressive ac - tions” by China and as the US to convince king in Malaysia patrols the area to ensure free - dom of navigation, the Philip - pines’ military chief said. The opposition leader claimed that he showed the king evidence of a “convincing The Philippines wants a code of conduct in the disputed area majority” of more than 120 lawmakers in the 222-member in parliament in place soon to prevent hostile The Philippines wants a actions as it’s “a potential flash code of conduct in the BloomBerg point,” Armed Forces Chief of disputed area in place I have presented a list Staff General Gilbert Gapay Anwar Ibrahim’s latest push to said at a Foreign Correspon - soon to prevent hostile finally take power in Malaysia of a convincing dents Association of the Philip - actions as it’s “a potential appears to be stalled. majority of members of pines forum on Tuesday. flash point,” Armed Forces The long-time opposition parliament who support me “The situation now becomes leader claimed on Tuesday that to His Majesty. With these more intense,” amid aggressive Chief of Staff General he showed the king evidence of actions by China and the US’s Gilbert Gapay said at a a “convincing majority” of more documents, it is abundantly show of force, Gapay said. Foreign Correspondents than 120 lawmakers in the clear that we have China’s “maritime militias are Association of the 222-member in parliament. He registered a formidable there. They’re practically called on PM Muhyiddin Yassin convincing majority among swarming most of the areas in Philippines forum to resign and said the monarch the West Philippine Sea.” would now determine whether parliamentarians The Philippine military chief the opposition leader has Anwar Ibrahim, also called on Facebook Inc to “We are also telling them as enough support from lawmak - Malaysian opposition leader be impartial, seconding Presi - media platform, they should be ers to form a new government. dent Rodrigo Duterte who last impartial and unbiased,” Gapay “I have presented a list of a month criticised the social said. “We are now asking Face - convincing majority of mem - threaten a rebound in the econ - media platform for taking book if they could advise be - bers of parliament who support Malaysian King Abdullah of Pahang meets with opposition leader Anwar Ibrahim at the National omy, which shrank 17.1% in the down accounts linked to the fore they take down or further me to His Majesty,” said Anwar, Palace in Kuala Lumpur, Malaysia, on Tuesday —DPA second quarter when the gov - armed forces and the police. investigate” accounts. who first announced on Sep - ernment imposed a lockdown. tember 23 he had the numbers For the moment it appears to take power. “With these doc - n Malaysian king advised opposition leader Anwar “to abide that Muhyiddin is safe, even uments, it is abundantly clear by and respect legal processes enshrined in Federal though speculation has been that we have registered a formi - rife that he may soon call a snap Thai police disperse dable convincing majority Constitution” before stressing the need for the country to election due to squabbles in his among parliamentarians.” unite to fight the coronavirus, according to the statement disparate ruling coalition. In a protesters in Bangkok But less than an hour after by the palace’s Comptroller of the Royal Household press briefing on Tuesday, Anwar spoke, the palace re - Muhyiddin kept mum on Anwar BloomBerg intention isn’t to hurt anyone buffed him. It said in a state - while announcing that Malaysia but to take control of the area,” ment that Anwar didn’t submit n For opposition leader Anwar, the move may be one of his would be a priority recipient of Thai police arrested protesters police told protesters, some of lawmakers’ names to back up last chances to take power. He was seen as Mahathir’s the coronavirus vaccine that and dispersed crowds at a small whom came from provinces his claim, and the monarch China is developing. demonstration in the capital, outside of Bangkok. made no reference to interview - successor in the 1990s before he was fired in the wake of “I don’t want to comment on Bangkok ahead of a key anti- The activist group Thai ing MPs to determine where the Asian Financial Crisis, after which he spent six years in what Anwar did in the palace,” government demonstration on Lawyers for Human Rights said they stand as he did back in Feb - prison on convictions for abuse of power Muhyiddin said. “I leave it to the Wednesday. 21 protesters were arrested and ruary, when former leader best judgment of the king.” Live television footage from taken into custody. Demonstra - Mahathir Mohamad’s abrupt For Anwar, the move may be the event showed officers tors including school and uni - resignation triggered a round of fore stressing the need for the what the next step would be. one of his last chances to take pulling down one of the protest versity students as well as political turmoil that prompted country to unite to fight the Investors cheered the devel - power. He was seen as Ma - leaders who was standing on labour groups plan to surround Muhyiddin to take power with a coronavirus, according to the opments, with Malaysia’s hathir’s successor in the 1990s top of a van and carrying him the PM’s office and openly defy razor-thin majority. statement by Indera Ahmad benchmark stock index rising before he was fired in the wake of away into a police vehicle, while King Maha Vajiralongkorn to de - Instead, the king advised Fadil Shamsuddin, the palace’s 0.5% at the close after erasing the Asian Financial Crisis, after using megaphones to ask mand the government’s resigna - Anwar “to abide by and respect Comptroller of the Royal House - an earlier decline of as much as which he spent six years in demonstrators to leave the area. tion, a rewriting of constitution, such legal processes enshrined hold. It was unclear if he was 0.4%. The country is facing an - prison on convictions for abuse “Please don’t use force — our and reforms of the monarchy. in the Federal Constitution” be - verifying Anwar’s claims, or other surge in virus cases that of power. Trump boasts at Florida rally of feeling ‘so powerful’

BloomBerg tests, along with guidelines the economy into recession. from the US Centers for I am so energised by Trump sought to energise the President Donald Trump re - Disease Control and Prevention, crowd by highlighting the parti - turned to the campaign trail, informed the conclusion that your prayers and san battle over his nomination boasting at a rally in Florida that Trump “is not infectious to humbled by your support. of Amy Coney Barrett to the he felt “so powerful” after his re - others.” Twenty-two days from now Supreme Court. covery from Covid-19 that he Trump’s trip to Florida was we’re going to win this “A lot of people said I was wanted to walk into the audi - part of an effort to reverse his elected because of the Supreme ence and “kiss everyone.” slide in polls in the key swing state, we’re going to win Court,” Trump said. “but if it is “I am so energised by your state. Biden is leading Trump in four more years at the true, it is more true now than it prayers and humbled by your Florida by 3.7 percentage points White House was four years ago.” support,” Trump said at the out - in a RealClearPolitics average of The president and his cam - door rally at the Orlando San - nine polls taken since late last Donald Trump, paign aides believe Barrett’s ford International Airport, month — a reversal of fortune US President confirmation hearings can be a where there was little social dis - for the president in a state he turning point with just three tancing though some spectators narrowly won in 2016. weeks until Election Day, acti - wore masks. “Twenty-two days US President Donald Trump speaks during a campaign rally at Orlando Sanford International The Florida event, along with State especially hard and has vating conservative and reli - from now we’re going to win Airport in Sanford, US, on October 12 —DPA three others planned this week, contributed to the president’s gious voters who care deeply this state, we’re going to win threaten to advance the spread declining popularity. His deci - about the composition of the four more years at the White his Democratic opponent, Joe Trump had tested negative for of the coronavirus, Anthony sion to resume large-scale high court. House.” Biden. “Now they say I’m im - Covid-19 on consecutive days. Fauci, the top US infectious dis - rallies risks reinforcing percep - Biden holds a 54%-42% lead The crowd at one point broke mune. I feel so powerful. I’ll walk In a memo released by the ease expert, warned in an inter - tions that he’s been cavalier nationally among likely voters, into a chant of “we love you” as into that audience,” Trump said. White House, Sean Conley, the view on CNN . about a disease that has killed according to a Washington Post - Trump renewed his attacks on Hours earlier, his doctor said president’s physician, said the The virus hit the Sunshine 215,000 Americans and sent ABC News poll.

US clears new test for Covid-19 by Access Bio UK scientists clash with PM over virus lockdown BloomBerg he told the BBC on Tuesday BloomBerg Under British PM Boris when asked about the SAGE Boris Johnson clashed with recommendations. “We took A new 10-minute Covid-19 test that doesn’t need his own government’s scien - Johnson’s new plan, a a balanced view of what was added equipment to process has been cleared by tific advisers who wanted three-tier system of required at that moment. the US Food and Drug Administration, manufac - tougher action against the Covid-19 alert levels is We do think the measures turer Access Bio, Inc said on Tuesday. resurgent coronavirus out - we’ve put in place now are The assay, known as CareStart, is among a break in the UK in September. being introduced, set at robust. These are serious group of new antigen tests that detect the novel The British prime minis - medium, high, and very changes.” coronavirus by looking for proteins on its surface. ter said he hoped to avoid high, to simplify the Under Johnson’s new Because antigen screening can provide rapid another full national lock - imposition of plan, a three-tier system of results in doctor’s offices, urgent care clinics and down and that his plan Covid alert levels is being in - hospitals, they could have a key role in expanding would work if people fol - lockdown measures troduced, set at medium, access to testing and providing timely informa - lowed the advice. high, and very high, to sim - tion to patients and providers. Options in a SAGE docu - British PM Boris Johnson and Chancellor of the Exchequer Rishi Sunak leave plify the imposition of lock - ment circulated on Septem - 10 Downing Street ahead of a cabinet meeting in London on Tuesday —DPA vote on the latest restric - down measures. ber 21 included a short tions as the premier seeks to In the areas on the highest the gulf time “circuit breaker” national cases will result in a very The split between John - persuade local leaders in alert, there will be tighter re - Date: 14-10-2020 lockdown, more people large epidemic with cata - son and his pandemic advis - northwestern England to strictions on social mixing asked to work from home, strophic consequences in ers will fuel the political agree to tighter curbs. and travel discouraged. But bans on contact with other terms of direct Covid-re - battles the premier is now Cabinet minister Robert Whitty said local authorities GOVERNMENT OF DUBAI households and the closing lated deaths and the ability fighting on multiple fronts. Jenrick defended the gov - will need to take more ac - DUBAI COURTs of all restaurants. of the health service to meet On Tuesday, members of ernment’s approach. tion to get the virus under Case No. 765/2020/18 Partial Real Estate “Not acting now to reduce needs,” the committee said. Parliament were expected to “We did take action then,” control.

Plaintiff : Amlak Finance PJsC Capacity in the case : Plaintiff

Defendant : Masuma Faraaz Patel Capacity in the case : Defendant the gulf time the gulf time the gulf time Notification subject: Date: 14-10-2020 Date: 14-10-2020 Date: 14-10-2020 The plaintiff filed the lawsuit against you and its subject matter is: Service Date: 12/10/2020 Date: 11/10/2020 First: Demanding the cancellation of the lease agreement and its annexes with the consequent effects and obligating the defendant Service No.: 155775/2020 Notice No.: 155146/2020 to handover the property subject of the lease-to-own agreement and the limits and descriptions of the title deed are indicated as GOVERNMENT OF DUBAI GOVERNMENT OF DUBAI GOVERNMENT OF DUBAI follows (unit no. 1601- 16th floor- Swiss Tower- Building 1- plot No. 903- Al Thanya fifth area - Dubai )free of items and persons, returning DUBAI COURTs DUBAI COURTs DUBAI COURTs possession to the plaintiff, canceling the name of the defendant Dubai Court of First Instance- Commercial Court Dubai Commercial First Instance Court from the list of tenants' names and their shares by indicating the real 5789 /2020/207- Commercial Execution estate registration (lease ending with ownership), and assigning the service by Publication Notification by Publication to the Defendant Land Department to implement this. Publication No.: 2020/149493 Date: 29/09/2020 Publication type : Publication notice and request of payment In Case No. 16/2020/3582 Commercial- Restricted In the case No. 16/2020/2864 summary Commercial Newspaper name : Number: Date of issue: Jurisdiction second: to oblige the defendant to pay the amount of 203,526.36 subject of the Case: Claim to obligate the Respondents to jointly and severally dirhams( two hundred and three thousand, five hundred and to pay to the Claimant an amount of AED 520,000.00 plus the court charges, twenty six dirhams and thirty six fils) represents the outstanding of Publication Notice Details Case subject: Claiming to obligate the Defendant to pay an amount of (AED lawyer expense sand legal interest of 12% from the due date to the full payment Debtor: 1- TOWERs TECHNOLOGY CONTACTING COMPANY LLC 34,552.98) as well as fees, expenses and attorney's fees, and interest of 12% as date the unpaid rental value, service fees, additional rental expenses, of date of claim until full payment is affected. To render an expeditious and unpaid variable payments as indicated in the lawsuit list — DUBAI BRANCH enforceable judgment without bail. Unknown address Applicant of Notification : JS Lootah Group LLC Capacity in Lawsuit : Claimant above, other than the updated fees, until the date of handing over Plaintiff: Mawarid Finance Capacity: Plaintiff Represented by : Mansoor Essa Lootah Capacity in Lawsuit : Attorney the property to the plaintiff, free of items and persons. Represented by: Eissa Salem Ahmed Alharsi Almahri Capacity: Attorney Party to be notified : 2) Mohd. Arshad Mohd. Saleem Creditor: KRABsO DECORATION, sole establishment and Notified Party: 1- Vijay Paramiswaran Capacity: Defendant Capacity in Lawsuit : Defendant Of unknown place of residence Third: Obliging the defendant to pay services charges and represented by its Owner Ms/ Zainab salim Ibrahim Taher Al (of Unknown domicile) electricity and water bills until the complete evacuation and deliver Hashmi subject of service: subject of the Lawsuit: the plaintiff the proof of the same and clearance. The Plaintiff has filed the Case against you. Its subject is claim for obligating the You are hereby notified that the Claimant has brought the above lawsuit claiming The Creditor filed the above-mentioned execution case to oblige Defendant to pay an amount of AED (34,552.98), fees, expenses, attorney's fees, that the Respondents to be obligated to jointly and severally pay to the Claimant Fourth: A session is set for that on Monday 02-11-2020 at 10:00 am you to pay the decreed amount of (Dhs. 499691.84) to the and legal interest of 12% as of the date of claim until full payment is affected, an amount of AED 520,000.00 plus the court charges, lawyer expense sand legal and to render an expedite enforceable judgment without bail. interest of 12% from the due date to the full payment date (a joint intervening party in the remote litigation hall & BUILDING_DESC. Therefore, you are Creditor or to be deposited in the Court Treasury. A hearing is set therefor to be held on Thursday, corresponding to 20/10/2020 required to attend or whoever represents you legally, and you must has been included in the case). Whereas the first hearing of the lawsuit is scheduled at 08:30 AM, at the Remote Litigation Hall (BUILDING_DESC&). Therefore, you to be held on Monday 26/10/2020 (08:30 am) at the Remote litigation Chamber, present your memos or documents to the court at least three days Therefore, the court shall proceed the execution procedures are required to appear in person or by your representative, and submit your you are, therefore, required to attend the hearing either in person or through your before the hearing. against you in case of non-compliance with the above- relevant memoranda or documents to the Court at least three days prior to the legal attorney. Any memos or supporting documents should be submitted to the mentioned judgement within 15 days from the following day of hearing. court at least 3 days before the hearing date. Case manager this publication. Case Manager Yasser Mohamed Al Marzouqi Head of subsection shouq Hamza Mohd. Qumbur Al Bannai Nassir Al bdullah Al Abdooli wednesday 14 october 2020 europe/americas 07 aCross europe, countries are struggling to keep the resurgent pandemic in check Ireland set to boost spending to counter Investor hopes for German dual threats of Brexit economy drop amid virus The loss of confidence came alongside a report from country’s central bank warning of strains in financial system from company failures, debt problems

BloomBerg German Chancellor Angela Investor confidence in the out - look for Germany’s economy Merkel’s government plans The coronavirus response is one being echoed across Europe as countries try to plunged, in a sign of concern to sell a record amount of protect businesses and jobs amid a resurgence of cases that resurgent infections could debt next year to fund its hurt the recovery. crisis response, and is BloomBerg A gauge by the ZEW dropped Ireland’s Finance Minister allowing companies to tap to 56.1 in October — the low - Ireland’s government is set to Paschal Donohoe will lay out est in five months — from 77.4 enhanced state wage boost spending to counter the 2021 budget in Dublin, a in September, below even the support through the dual threats of Brexit and the most pessimistic estimate in a pandemic, as new restrictions week after coalition end of next year Bloomberg survey. The meas - threaten to derail a nascent government moved the ure for the euro area also economic recovery. dropped. The loss of confi - Finance Minister Paschal nation to a Level 3 lockdown, dence came alongside a report cellor Angela Merkel’s govern - Donohoe will lay out the 2021 meaning most restaurants from the country’s central ment plans to sell a record budget in Dublin, a week after and hotels are closed again bank warning of strains in the amount of debt next year to the coalition government financial system from company Protesters hold placards during a demonstration against the measures imposed to curb fund its crisis response, and is moved the nation to a Level 3 failures and debt problems. the spread coronavirus (Covid-19) pandemic in Konstanz, Baden-Wuerttemberg in allowing companies to tap en - lockdown, meaning most Goodbody Stockbrokers in Across Europe, countries are Germany —DPA hanced state wage support restaurants and hotels are Dublin, said. “But with large im - struggling to keep the resur - through the end of next year. closed again. Among the meas - mediate threats to the Irish gent pandemic in check. In The European Central Bank ures being floated are a $5.9 bil - economy, this is a time to keep Germany, Europe’s largest n A gauge by the ZEW drops to 56.1 in October — the is strongly in favour of keeping lion fund to deal with the virus the foot on fiscal accelerator.” economy, cases are increasing fiscal policy expansionary. Ex - and Brexit, more health spend - The possible measures being at the fastest pace since the lowest in five months — from 77.4 in September. The ecutive Board member Isabel ing and a cut in sales tax for the considered include: height of the pandemic in early measure for the euro area also dropped Schnabel argued that govern - hospitality industry. The domestic economy is set April, with more than 6,500 ments shouldn’t worry about Donohoe’s strategy contrasts to shrink 6.5% this year, accord - new infections in the 24 hours rising debt levels at this point. with Ireland’s last experience of ing to the finance ministry. through Tuesday morning. n European leaders are introducing tougher measures to The ECB is expected to in - economic crisis a decade ago, Nonetheless, the wider econ - European leaders are intro - contain spiralling coronavirus cases, a move that could crease its 1.35 trillion-euro when the government slashed omy is protected by the slew of ducing tougher measures to put the region’s recovery at risk ($1.6 trillion) emergency spending and raised taxes to US companies which use Dublin contain spiraling coronavirus bond-buying program again win back confidence of interna - as their European headquar - cases, a move that could put before the end of this year, tional lenders. The coronavirus ters. Overall, GDP is likely to the region’s recovery at risk. n The Bundesbank expects German growth to slow this most likely in December when response is one being echoed contract just 2.5% this year, the The Bundesbank expects Ger - quarter and France’s statistics office predicts its economy policy makers receive a new across Europe as countries try ministry said. man growth to slow this quar - will probably stall round of forecasts. Chief econ - to protect businesses and jobs Still, Ireland faces threats out - ter and France’s statistics omist Philip Lane said officials amid a resurgence of cases. side virus, mainly the prospect office predicts its economy will will decide “meeting by meet - “Like others, the Irish govern - of UK crashing out of EU with - probably stall. Achim Wambach said in the tainty about further economic ing” whether more stimulus ment will eventually face the out a trade deal. That would cut “The great euphoria of Au - statement. “The recent sharp developments.” will be needed, potentially put - difficult task reducing the size Irish economic growth by half gust and September seems to rise in the number of corona At the same time, support re - ting the next gathering on of government spending,” Der - next year, according to the ESRI, have passed,” ZEW President infections increases the uncer - mains readily available. Chan - October 29 in play. mot O’Leary, chief economist at a Dublin-based think tank.

UK government split over Coronavirus outbreak in CzeCh carbon market after Brexit The Treasury is pushing to replace the European Union’s cap-and-trade system with an economy-wide carbon tax

BloomBerg

UK Chancellor Rishi Sunak ’s Treasury is locked in a battle with Alok Sharma’s Business Department over how to en - sure polluters pay for their emissions after Brexit. The Treasury is pushing to replace the European Union’s cap-and-trade system with an economy-wide carbon tax, which would come into effect Some of the UK’s biggest emitters are lobbying against a carbon tax, saying it would put them at a competitive disadvantage to EU rivals after Britain exits the bloc in January. The Department for find a way that could tie a UK Business, Energy and Indus - Businesses and traders cap-and-trade system to the Medical staff wearing protective clothes wait during the x-raying of a patient suffering from the coronavirus disease (Covid-19) at trial Strategy is drawing up a EU ETS — if it does opt for that the resuscitation intensive care unit (ICU) of the General University Hospital in Prague —DPA new emissions-trading system are becoming increasingly system. But if no deal can be to start in January similar to concerned over the lack of struck, BEIS officials say a the EU program that the UK certainty for how they’ll standalone UK ETS would be currently participates in. be charged for their just as effective. The EU ETS is One person familiar with the world’s biggest carbon market. Maersk raises profit forecast for 2nd time debate predicted that an ETS pollution and whether the Some of the UK’s biggest was a likely option, and a hy - UK system will be linked emitters are lobbying against a BloomBerg strong earnings momentum,” brid is also being considered. It to the EU’s ETS carbon tax, saying it would put Brian Borsting, a credit analyst is likely to be announced by them at a competitive disad - AP Moller-Maersk A/S raised its at Danske Bank A/S, said in a December 12, when Prime vantage to EU rivals. They’re full-year guidance amid a sur - client note. Minister Boris Johnson will co- leaves the EU and no deal more comfortable with an ETS, prise recovery in demand and Copenhagen-based Maersk, host a UN meeting on climate agreed, businesses and traders since they’ve had to deal with sweeping efforts to cut costs. which transports about 15% of action, where he is expected to are becoming increasingly con - the EU system since 2005. The container shipping com - the globe’s seaborne freight, reveal a new 2030 climate cerned over the lack of cer - European traders urged UK pany, which is eliminating hun - said there was a “continued re - pledge and encourage other tainty for how they’ll be government to have an ETS dreds of jobs, said earnings and integration costs. That covery in demand” in the third nations to set their own goals charged for their pollution and linked to EU’s. That would be before interest, taxes, deprecia - compares with an earlier fore - quarter. Maersk said it had an - to bring net emissions to zero. whether the UK system will be most cost effective route to UK tion and amortization will be in cast of $6 billion to $7 billion, ticipated a bigger contraction But with just a little over two linked to the EU’s ETS. meeting its 2050 target to zero the range of $7.5 billion to $8 according to a statement. in its main ocean unit than months to go before the UK The UK is still negotiating to out greenhouse gas emissions. billion, before restructuring “The upgrade underlines the materialised. BC partners said to be halfway to $10b fund record UK’s buyout firm has stuck to its target during pandemic and aims to finish collecting investor capital next year

BloomBerg one of the year’s biggest private Mukharlyamov found that 10% equity buyouts of a listed Euro - Private equity firms have of portfolio companies are “very BC Partners has raised around pean company, agreeing to take continued to find deals amid negatively affected” and a fur - half the target amount for its Italy’s IMA Industria Macchine ther 40% “moderately nega - next flagship private equity Automatiche SpA private in a the coronavirus pandemic, tively affected” by the viral fund, for which it is seeking a deal valuing the machinery announcing $418bn of outbreak. In their paper, pub - record 8.5 billion euros ($10 bil - maker at about 2.9 billion investments since the start of lished this month, the academ - lion), people with knowledge of euros. the year. BC is currently ics also found that private the matter said. Private equity firms have con - equity firms expect fund per - The London-based buyout tinued to find deals amid the helping to finance a $3.9bn formance to be weaker as a firm has already gathered more coronavirus pandemic, an - hostile bid from its portfolio result of the pandemic. than 4 billion euros for its 11th nouncing $418 billion of invest - company, Canadian security BC, founded in 1986 by Otto fund, hitting an initial fundrais - ments since the start of the year, van der Wyck and John Burgess, ing milestone, according to the according to data compiled by company GardaWorld, for was a pioneer in European people. It has stuck to its target Bloomberg. BC is currently UK-listed competitor G4S Plc leveraged buyouts and previ - during the coronavirus pan - helping to finance a 3 billion- BC Partners has already gathered more than 4 billion euros for its 11th fund, hitting an ously raised some of the biggest demic and aims to finish col - pound ($3.9 billion) hostile bid initial fundraising milestone funds on the continent. The lecting investor capital next from its portfolio company, travel software firm CarTrawler firm has also expanded into year, the people said, asking not Canadian security firm Garda - 21.3 billion-euro fundraising economy. It previously owned to rival private equity firm credit and real estate investing. to be identified because the World, for UK-listed competitor over the summer. Nordic Capital UK restaurant operator Cote, TowerBrook Capital Partners in It’s seeking to turn a new page information is private. G4S Plc. recently raised 6.1 billion euros which was taken over by Part - May. after some troubled acquisi - BC has already put some of The buyout industry also con - for its biggest-ever fund. ners Group Holding AG in Sep - In a recent survey of more tions from its eighth fund, in - the money to work since it tinues to collect record amounts Still, some of BC’s portfolio tember after being hit by than 200 private equity firms, cluding satellite operator began raising the pool late last of cash from investors, with CVC companies have struggled as government lockdown meas - researchers Paul Gompers, Intelsat SA, hurt its reputation year. In July, the firm announced Capital Partners completing a Covid-19 began roiling the ures. BC lost control of Irish Steven Kaplan and Vladimir among investors. wednesday 14 october 2020 08 stock markets

Stocks in India rise on Investors are weighing a potential setback on progress towards a coronavirus vaccine Covid-19 vaccine trial European stocks edge down pause, inflation woes BloomBerg with futures as earnings roll in India’s stock benchmark eked out gains to rise for a S&P 500 contracts fall 0.6% after a report that Johnson & Johnson’s Covid-19 ninth straight day, as in - vestors shrugged off con - vaccine study has been paused due to an unexplained illness in a participant cerns about a halt in Johnson & Johnson’s Covid- BloomBerg 19 vaccine study and rising domestic inflation. European stocks edged lower The S&P BSE Sensex with US equity futures as in - closed up 0.1%, after swing - n The NSE Nifty 50 vestors weighed a potential set - ing between gains of 0.5% Index added three back on progress toward a and losses of 0.3% following coronavirus vaccine ahead of a Johnson & Johnson’s an - points, also edging busy period for corporate earn - nouncement that its study higher for a ninth ings. The dollar and Treasuries had been temporarily halted day. It’s the longest advanced. because a clinical trial partic - winning streak for S&P 500 contracts fall as ipant experienced an unex - much as 0.6% after a report that plained illness. The NSE Nifty both indexes since Johnson & Johnson’s Covid-19 50 Index added three points, April 2018 vaccine study has been paused also edging higher for a ninth due to an unexplained illness in day. It’s the longest winning a participant. In Europe, banks streak for both indexes since n The MSCI Asia slumped with travel and leisure April 2018. Pacific Index was up shares. Stocks were little The two gauges are close 0.2% after falling by changed in South Korea and to erasing year-to-date a similar magnitude China, where economic data losses, supported by inflows pointed to further recovery for of around $580 million into earlier in the day global trade and a robust Indian equities from foreign domestic rebound. Prospects for a quick end to the stimulus stalemate in the US may be fading with members of the House being told not to expect any investors this month. The stalemate also affecting sen - Oil swung to a gain with action this week and many Senate Republicans rejecting the White House proposal for a deal MSCI Asia Pacific Index was timent,” said Deepak Jasani, workers in the US Gulf heading up 0.2% after falling by a head of retail research at back following Hurricane Delta’s Chris Iggo, Chief Investment Of - Index rises 0.1% and the euro similar magnitude earlier in HDFC Securities Ltd. The landfall and Libya taking a major n In Europe, banks ficer, AXA IM Core Investments. falls 0.1% to $1.1796. the day. meeting of India’s goods and step toward reopening its The hearings for the Supreme The British pound drops 0.2% Still, rising prices in Asia’s services tax council on Mon - biggest field. slumped with travel Court nomination of Judge Amy to $1.3044 and the onshore third-largest economy day failed to arrive at a Markets are pausing for and leisure shares Coney Barrett continue in the yuan strengthened 0.2% to weighed on sentiment at a unanimous decision, as breath a day after the Nasdaq Senate Judiciary Committee as 6.733 per dollar. The Japanese time when consumer confi - some states wanted the fed - 100 surged to the biggest ad - n Stocks were little Republicans try to cement a yen weakened 0.1% to 105.47 dence has plummeted to a eral government to borrow vance since April, powered by conservative majority on the per dollar. record low. Data published from the market to bridge a technology leaders including changed in South Korea court before the November 3 The yield on 10-year Treasur - Monday showed consumer- shortfall in revenue from Amazon.com Inc., Apple Inc. and and China, where election. ies fell two basis points to 0.75% price inflation accelerated to sluggish collections. Twitter Inc. Amazon is gearing economic data pointed Meanwhile, European Central and the yield on two-year Treas - 7.34% last month, which Meanwhile, Wipro Ltd. re - up for its Prime Day bonanza, Bank President Christine La - uries decreased one basis point was more than estimated ported net income for the and Apple for its event where it’s to further recovery for garde leads off the virtual an - to 0.15%. and could prompt monetary September-ending quarter expected to unveil 5G iPhones. global trade and a nual meetings of the While Germany’s 10-year policy makers to keep inter - after market hours that Earnings season also gets un - robust domestic International Monetary Fund yield declined one basis point to est rates on hold for longer. missed analyst estimates. derway, with JPMorgan Chase & rebound and the World Bank Group -0.55%, Britain’s 10-year yield This comes as the govern - The yield on the bench - Co. and Citigroup Inc. reporting. through October 18. fell one basis point to 0.261%. ment has unveiled measures mark 10-year government Meanwhile, prospects for a Futures on the S&P 500 Index Japan’s 10-year yield decreased worth $6.6 billion to stimu - bond was little changed at quick end to the stimulus stale - Johnson study halt was yet an - declined 0.2% as of 9:42 am less than one basis point to late consumer demand and 5.90%, while the rupee mate in the US may be fading other sign that the race for a London time and the Stoxx Eu - 0.03%. investment in the economy. weakened 0.1% to 73.3550 with members of the House Covid-19 vaccine is bumpy. rope 600 Index sinks 0.2%. While West Texas Intermedi - Indian stocks are moving per dollar. Six of the 19 sec - being told not to expect any ac - “The hurdles at the moment While The MSCI Asia Pacific ate crude gained 1.1% to $39.88 “in line with other Asian tor indexes compiled by BSE tion this week and many Senate come from the uncertainty Index increased 0.2%, the MSCI a barrel, brent crude increased markets, with the negatives Ltd. rise, led by a gauge of Republicans rejecting the White around the US election and the Emerging Market Index was 1% to $42.14 a barrel. Gold of inflation and the GST energy companies. House proposal for a deal. On uncertainty about the timing little changed. strengthened 0.1% to $1,923.95 the virus front, the Johnson & and effectiveness of a vaccine,” The Bloomberg Dollar Spot an ounce.

Daily Financials As of 2020-Oct-13 Generated on 2020-Oct-13 17:49

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 6.94695E+11 6.84533E+11 10161475881 40950000 21073017299 23 9104459,829, 386.87386.87103,797, 341 1,917 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, 5.830 8.150 3.82047,004, 357.68 8,137, 347.00 191 0.130 2.286,957,379,354. 00 40,561,521,633. 82 Abu Dhabi Islamic Bank A1.00000,000DIB 3,632, 4.210 5.850 3.19016,318, 850.37 3,875, 054.00 337 0.010 0.24 3,632,000,000.00 15,290,720,000. 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 0.600 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, 11.220 15.920 7.78081,542, 482.48 7,277, 782.00 227 0.000 0.0010,920,000,000. 00 122,522,400,000. 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, 2.000 2.1802.180 1.810 1,848,000,015.00 3,696,000,030. 00 Sharrjajah Islamic Bank S1.00597,750IB 3,081, 1.160 1.350 0.950138,454. 86 118,696. 00 4 (0.020) (1.69) 3,081,597,750.00 3,574,653,390. 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 39,420,950,234 145,004,145.39 19,408, 879.00 759 39,420,950,234.00 207,158,958,074. 56 Index ADBF Index Open 7,508.43 Index Close 7,528.97 Index Change 20.54 Index Change % 0.27 Traded 4 Declined 1 Advanced 2 Unchanged 1 Sector Capitalization 2.07159E+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, 0.658 0.824 0.4781,351, 819.72 2,117, 688.00 44 (0.002) (0.30) 150,000,000.00 98,700, 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, 0.698 0.740 0.323 200,000,000.00 139,600, 000.00 Al Dhafra Insurance Co. D1.00000HAFRA 100,000, 3.3503.350 3.000 100,000,000.00 335,000, 000.00 Emirates Insurance Co. EIC 1.00150,000, 000 6.7508.100 6.510 150,000,000.00 1,012,500,000. 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, 0.2380.238 0.238 420,000,000.00 99,960, 000.00 Al Ain Alahlia Insurance Co. A10.00000LAIN 15,000, 35.16037.000 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 2.700 570,000,000.00 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 1,351,819.72 2,117, 688.00 44 3,376,494,680.00 8,829,552,706. 80 Index ADII Index Open 1,891.33 Index Close 1,892.16 Index Change (0.11) Index Change % (0.01) Traded 1 Declined 1 Advanced 0 Unchanged 0 Sector Capitalization 8829552707 Consumer Staples Symbol Face Val (AED) Issued Shares Last Close High 52 Low 52 Value (AED) Volume Trades Change Change % Paid Up Capital ((AAED) Market Cap. (AED) AGTHIA Group A1.00000GTHIA 600,000, 4.450 4.500 2.50014,513, 253.37 3,285, 597.00 71 0.090 2.06 600,000,000.00 2,670,000,000. 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 14,513,253.37 3,285, 597.00 71 806,400,000.00 3,150,960,000. 00 Index ADCM Index Open 9,073.89 Index Close 9,162.32 Index Change 159.18 Index Change % 1.77 Traded 1 Declined 0 Advanced 1 Unchanged 0 Sector Capitalization 3150960000 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, 1.7101.800 1.350 785,862,000.00 1,343,824,020. 00 National Marine Dredging Co. N1.00000MDC 250,000, 4.490 6.250 2.900676,190. 00 150,000. 00 5 (0.010) (0.22) 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, 14.220 15.740 7.960 89,786,400.00 1,276,762,608. 00 Abu Dhabi Aviation Co. A1.00200DAVIATION 444,787, 3.090 3.530 2.520 444,787,200.00 1,374,392,448. 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 3,269,351,694 676,190.00 150,000. 00 5 3,269,351,694.00 9,075,953,575. 02 Index ADID Index Open 2,512.43 Index Close 2,504.26 Index Change (0.68) Index Change % (0.03) Traded 1 Declined 1 Advanced 0 Unchanged 0 Sector Capitalization 9075953575 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, 2.070 2.370 1.35075,637, 286.20 36,627, 526.00 267 0.030 1.477,862,629,603. 00 16,275,643,278. 21 RAK Properties RA1.00000,000KPROP 2,000, 0.381 0.475 0.327321,242. 06 838,370. 00 22 (0.001) (0.26) 2,000,000,000.00 762,000, 000.00 Sharrjajah Group SG 1.0078,901, 086 0.850 0.850 0.770 78,901,086.00 67,065, 923.10 Total 9,941,530,689 75,958,528.26 37,465, 896.00 289 9,941,530,689.00 17,104,709,201. 31 Index ADRE Index Open 3,135.41 Index Close 3,163.64 Index Change 42.59 Index Change % 1.36 Traded 2 Declined 1 Advanced 1 Unchanged 0 Sector Capitalization 17104709201

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