04 NOVEMBER 2020 | 18 RABI Ul AWAl 1442 HIJRI | VOlUME NO. 08 | ISSUE 76 /emiratesbusiness.ae @emi_business emirates-business.ae

OP-ED PAGE 04 FOREX (AED) ENERGy TEN TOLA GOLD STOCK MARKET INDEX uSD 3.6800 YEN 0.0354 B r e n t Crude $40.08/bbl buLLION Last check on presidential power: We the people Abu Dhabi - ADX 4,649.43 EuRo 4.2988 CHF 4.0401 WTI Crude $38.00 /bbl US Constitution’s checks and balances would preserve liberty that the document was supposed to enshrine, said ex-president GBP 4.7646 CAD 2.8053 N a t u r a l G as $3.13 /MMBtu Dubai - DFM 2,139.67 James Madison, writes Noah FeldmaN PRECIOUS METALS bAnkinG PAGE 07 New york - NYA 12,928.11 EXCHANGE RATE Sri Lankan Rs 50.10 Gold $1,908.10/t oz China’s big banks facing debt woes after paring profit drops Indian Rs 20.14 Philippine Peso 12.95 Gold-Dubai AED230.25/gm Buy for London - UKX 5,781.25 Bangladesh Taka 22.32 (AED) 26,856.36 Net income slid less than 5% at Industrial & Commercial Bank of Pakistani Rs 42.96 Silver $24.37/t oz China and its three largest rivals in 3 months through September 30

Wednesday

Price UAE: AED 2 Mohammed dedicates Flag Day celebrations to frontline heroes HH Sheikh Mohammed said we extend our gratitude to those at the frontlines of the fight against Covid-19 DubAi / WAM and cooperation that has Flag Day this year helped the country mitigate the His Highness Sheikh Mo - is an opportunity to impact of the pandemic. hammed bin Rashid Al Mak - celebrate the solidarity “We extend our gratitude to toum, Vice President and Prime those at the frontlines of fight Minister of the UAE and Ruler displayed by society and against Covid-19. We deeply ap - of Dubai, has dedicated the cel - the spirit of giving and preciate their efforts and dedi - ebrations of the Flag Day to the cooperation that has cation. We also thank the heroes at the forefront of the helped the country volunteers who contributed to nation’s fight against Covid-19. help ensure welfare of various His Highness hoisted the mitigate the impact of communities,” HH said. UAE flag at the Mohammed bin the pandemic "The citizens and residents Rashid University of Medicine HH Sheikh Mohammed of the UAE have set an example and Health Sciences. The event for solidarity and giving. They was organised by the Watani Al bin Rashid Al Maktoum have demonstrated their love Emarat Foundation under the for this country and worked theme ‘Proud of You’. President of the UAE. with a strong sense of team On November 3, the country HH Sheikh Mohammed bin spirit to overcome challenges celebrates UAE Flag Day. It Rashid said, "Flag Day this year so that we can renew our de - marks the anniversary of His is an opportunity to celebrate velopment efforts and progress His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, hoists the UAE flag Highness Sheikh Khalifa bin the solidarity displayed by so - towards a bright future," His at the Mohammed bin Rashid University of Medicine and Health Sciences, in Dubai on Tuesday —WAM Zayed Al Nahyan becoming the ciety and the spirit of giving Highness added.

Net pRofit of Dubai investments during the third quarter of this year reached AeD213 million UAE allocates AED35m aid for Philippines typhoon victims

Abu DhAbi / WAM Hamdan bin Zayed Al Dubai Investments posts Nahyan, Ruler's Represen - Upon the directives of His tative in Al Dhafra Region Highness Sheikh Mohamed and Chairman of the Emi - bin Zayed Al Nahyan, rates Red Crescent (ERC) 102% surge in net profit Crown Prince of Abu Dhabi the UAE allocated AED35 and Deputy Supreme Com - million to provide urgent mander of the UAE Armed humanitarian aid to people The company’s total revenue during nine-month period hit AED1.90 billion Forces, and the monitoring affected by typhoon “Goni” while total assets increased to AED21.5 billion at the end of the third quarter of His Highness Sheikh in the Philippines.

DubAi / WAM n Dubai Investments net Dubai Investments on Tuesday reported a 102% surge in the profit for 9-month period Oil gains as Opec+ hints third quarter net profit to ending on September AED213 million, compared to 30 reached AED418mn at delay to output hike AED105 million in correspon - ding period last year. blooMberg The net profit for nine-month n Careful review, analysis period ending on September 30 and optimisation of the Oil rises as broader markets was AED418 million. The total resources coupled with rallied and Opec+ inched a competitive growth closer to delaying a planned easing of output cuts. strategy, has been Futures in New York traded instrumental in near $38 a barrel after climb - enhancing business ing 3.3%, extending gains Opec and its allies were endurance at the from the previous session. Equities strengthened ahead set to add almost 2 million Dubai Investments of the US election, while the barrels a day from dollar lost 0.5%, adding to “Despite the challenging times, we were able to achieve strong performance this quarter”, January, but the group’s said Khalid Bin Kalban, Vice Chairman and CEO of Dubai Investments positive sentiment in crude. examples of this is the upcom - Russian oil companies met secretary general said that Overall business has revenue during nine-month pe - to achieve strong performance ing launch of REIT by Al Mal Energy Minister Alexander demand is recovering at started to pick-up and riod was AED1.90 billion while this quarter. Overall business Capital, one of the subsidiaries Novak to discuss delaying a a “very slow speed” the total assets increased to has started to pick-up and we of Dubai Investments PJSC, that tapering of Opec+ production we are focusing on AED21.5 billion as at the end of are focusing on successfully is expected to be listed on DFM cuts by three months. The Or - successfully navigating Q3 2020 as compared to navigating through the chang - in January 2021. In the current ganisation of Petroleum Ex - speed.” through the changing AED20.6 billion during the ing business dynamics. environment, investors are porting Countries (Opec) and This week promises contin - business dynamics same period last year. "Careful review, analysis and looking for secure long-term at - its allies were set to add al - ued oil-market turbulence, Speaking on the occasion, optimisation of the resources tractive returns and this REIT most 2 million barrels a day with Americans heading to the Khalid Bin Kalban, Khalid Bin Kalban, Vice Chair - coupled with a competitive and DFM listing will meet in - from January, but the group’s polls for an election that could Vice Chairman and CEO of man and CEO of Dubai Invest - growth strategy, has been in - vestors’ needs, providing a liq - secretary general said on reshape US policy on every - Dubai Investments ments, said, "Despite the strumental in enhancing busi - uid vehicle to access a sector Tuesday that demand is thing from fiscal stimulus to challenging times, we were able ness endurance. One of the with strong fundamentals." recovering at a “very slow Iran and fracking.

MoF hosts workshop on 39th SIBF CBUAE supports development of organising MNEs reports opens today DubAi / WAM digital payment services in UAE Abu DhAbi / WAM The Sharjah Book Authority The central bank aims to facilitate non-bank payment service The Ministry of Finance (MoF) (SBA) is opening both physi - organised two virtual work - cal and virtual doors of the providers and fintech firms easier access to the UAE market shops titled The Frameworks of 39th Sharjah International implementing legislation gov - Book Fair (SIBF 2020) on Abu DhAbi / WAM when the regulation comes erning Multinational Groups of Wednesday to its global audi - into force. Firms already hold - Entities (MNEs) reports. ences, as the fair assumes a In an effort to ensure that ing an SVF licence granted The workshops sought to unique hybrid online-offline stored value products and serv - under the previous regulatory identify the main points around In the UAE, CbCR were format this year in line with ices are operated in a secure, framework may continue oper - implementing the UAE’s cabi - submitted in 2019, and the the UAE government’s efforts sound and efficient manner in ating. Nevertheless, they are net resolution no. 44 of 2020, to contain the spread of the the UAE, the central bank of required to complete the im - which covers legislation gov - report was applied to novel coronavirus (Covid-19). the UAE (CBUAE) issued a new plementation of the relevant UAE-based MNEs that erning MNEs reports, and Organised by the SBA, SIBF regulation on Stored Value The central bank of the UAE measures set out in the new clarifies the private sector's re - have more than AED3.15b 2020 is themed "The World Facilities (SVF). regulation by the end of the is continuing to safeguard sponsibilities in this area. That, of global revenues Reads from Sharjah" and reit - By introducing this new reg - transition period. in addition to providing guid - erates emirate’s cultural mes - ulation for the providers of customers’ funds, ensure Abdulhamid M Saeed Alah - ance on the functions of the sage to world, highlighting the SVFs, the CBUAE aims to facili - proper business conduct madi, Governor of the Central Country by Country Reporting preparing CbCR. fact that knowledge-sharing is tate fintech firms and other and support the Bank of the UAE, said, "We are (CbCR) notification system. In the UAE, CbCR were sub - key to human development non-bank payment service confident that the new SVF reg - The workshops reviewed the mitted in 2019, and the report and sustainable progress. providers easier access to the development of payment ulation will strengthen the pub - latest developments related to was applied to UAE-based Through its offline pro - UAE market while continuing products and services lic's confidence in the use of the UAE’s requirements regard - MNEs that have more than gramme, the 11-day book fair to safeguard the customers’ digital products and services ing CbCR; the CbCR notification AED3.15 billion of global rev - will offer public wi th an oppor - funds, ensure proper business and foster further development system; the most important up - enues. The legislation was tunity to visit 1,024 publishers conduct and support the devel - and enforcement provisions and innovation across the dates approved by the OECD amended in 2020 based on from 73 nations who are ex - opment of payment products applicable to the companies, payments industry. on the CbCR; and introducing OECD’s recommendations, and hibiting over 80,000 new titles and services. which are licenced to provide the most important guide - compliance is only required for in several langauges. The scope of this regulation SVF. A one-year transitional pe - nfor full story, read lines to be followed when UAE-based groups. includes licencing, supervision riod will commence on the date emirates-business.ae WEDNESDAY 04 NovEmBER 2020 02 news

uNited ARAb emiRAteS celebrates Flag day Flag reflects concepts of unity: Ajman Ruler HH Sheikh Humaid bin Rashid Al Nuaimi said the UAE flag reflects adherence to Union’s values established by Founding Fathers

ajman / wam United under the The ‘Flag Day’ is His Highness Sheikh Humaid Union’s flag, our bin Rashid Al Nuaimi, Supreme celebrated by the UAE on Council Member and Ruler of country today presents November 3, coinciding Ajman, has said that the UAE unprecedented examples of with the anniversary of flag reflects the concepts of development, excellence President His Highness unity and adherence to the and success in all areas Union’s values established by Sheikh Khalifa bin Zayed the Founding Fathers, as well as to the world Al Nahyan’s accession the community coherence, rein - HH Sheikh Humaid bin to office as leader of forcing patriotism and strength - Rashid Al Nuaimi, the country ening the country’s pioneering Supreme Council Member position and prominent image. He made this statement after and Ruler of Ajman hoisting the UAE Flag marking on the right path to recovery, due the occasion at the flagpole in ecutive Council, Sheikh Ahmed to the vision of its leadership and front of the Emiri Court. The 'Flag bin Humaid Al Nuaimi, Ajman the solidarity and cooperation of Day' is celebrated by the UAE on Ruler’s Representative for Ad - HH Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman, during the hoisting the UAE Flag on Tuesday —WAM the entire community, especially November 3, coinciding with the ministrative and Financial Af - the front-liners. anniversary of President His fairs, and several Sheikhs and Leaders, noting that the day is Dubai, and His Highness Sheikh opment, excellence and success He further added that he is Highness Sheikh Khalifa bin senior officials. an opportunity to reiterate Mohamed bin Zayed Al Nahyan, in all areas to the world," he confident that the future, led by Zayed Al Nahyan's accession to During the event, he stressed one’s loyalty to His Highness Crown Prince of Abu Dhabi and added, explaining that the coun - the UAE’s leadership and under office as leader of the country. that as the Emirati people cele - Sheikh Khalifa bin Zayed, and Deputy Supreme Commander try’s Flag Day celebrations are the country’s flag, will witness Present on the occasion were brate Flag Day, they should re - His Highness Sheikh Mo - of the UAE Armed Forces. taking place amidst exceptional many achievements and a strong HH Sheikh Ammar bin Humaid member the glorious journey of hammed bin Rashid Al Mak - "United under the Union’s flag, conditions imposed by the coro - and influential presence, which Al Nuaimi, Crown Prince of the late Sheikh Zayed bin Sultan toum, Vice President and Prime our country today presents un - navirus pandemic, and noting will enhance the country’s stature Ajman and Chairman of the Ex - Al Nahyan and the Founding Minister of the UAE and Ruler of precedented examples of devel - that it has overcome them and is among advanced countries.

HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, raised the country’s flag while the national anthem played in the background at a ceremony held at the Presidential Palace complex, in Abu Dhabi on Tuesday. During the event, HH Sheikh Hamad bin Mohammed Al Sharqi, Supreme Council Member and Ruler of Fujairah, during the flag raising ceremony in the front HH Sheikh Mansour said that Flag Day has a national and historic significance, as it coincides with the anniversary of President His Highness yard of the Ruler’s Palace in Al Rumaila on Tuesday. During the event, His Highness highlighted the importance of celebrating “Flag Day,” Sheikh Khalifa bin Zayed Al Nahyan’s accession to office as leader of the country, and represents a precious occasion for the Emirati people which is a national occasion that reflects the solidarity and compassion of the Emirati people. It is also an opportunity to express feelings of that reflects their pride, patriotism and sentiments of loyalty to the country’s leadership, as well as their gratitude to the founder of the love and loyalty towards the UAE’s Founder, the late Sheikh Zayed bin Sultan Al Nahyan, Sheikh Hamad added —WAM photos country, the late Sheikh Zayed bin Sultan Al Nahyan, and the Founding Fathers —WAM

Global Village, the UAE and wider region’s leading multicultural family destination for culture, In honour of the UAE Flag Day, Dubai Holding employees gathered for a socially distant Dubai Silicon Oasis Authority (DSOA) joined the nation in celebrating UAE Flag Day. Senior shopping, and entertainment, joined the national celebrations to mark UAE Flag Day 2020, flag-raising ceremony at group’s headquarters. Employees across the group celebrate the values officials gathered in front of DSOA headquarters to raise the UAE flag on Tuesday by proudly raising the Emirati flag high above the park of prosperity, justice, peace and tolerance embedded in the foundation of the great nation

HE Jaber Al Suwaidi, General Director of the Crown Prince Court - Abu Dhabi (centre R) and HE Saif Ali Al Qubaisi, Executive Director of the Citizen Affairs Division at the Crown Prince Court of Abu Dhabi (centre L), attend the Flag Day ceremony, at the Crown Prince Court of Abu Dhabi

The Sharjah Book Authority (SBA) raised the UAE flag atop its headquarters in the Abu Dhabi Department of Education and Knowledge (Adek) marks the UAE Flag Day during Etihad Aviation Group celebrates UAE Flag Day with a group of socially distanced employees, presence of HE Ahmed bin Rakkad Al Ameri, Chairman of SBA, along with a host of a special ceremony in the UAE capital. HE Dr Mugheer Al Khaili, Chairman of the Department to mark this important day in the UAE calendar. The ceremony was held at the Etihad Aviation directors and employees. The SBA paid tribute to the Founding Fathers and expressed of Community Development and HE Sara Musallam Sara Musallam, Adek Chairman hoisted Group headquarters in Khalifa City in Abu Dhabi its dedication to UAE’s wise leadership and people the nation’s flag in front of Adek building, along with higher management team wednesdAY 04 nOVeMber 2020 energy 03

Shell acquires control of its gas station JV in China Trade rises in Dutch natural gas market BloomBerg Petroleum & Chemical Dutch gas futures trading volume on ICE has soared 24% after doubling in last two years Co and completed the Royal Dutch Shell has deal on October 19, a BloomBerg can Henry Hub benchmark, acquired full control of company representa - Trade on the Dutch Title last month. one of its gas station tive said. The Dutch natural gas mar - The Netherlands has joint ventures in China The oil major paid ket is reinforcing its position Transfer Facility, as the gained “a lot of attention” in as the oil major dou - about $149 million for as one of the most impor - market is known, is the US since the end of last bles down on the fuel 51% of the joint ven - tant trading hubs in the surging as Europe year, when the country ex - retailing market in the ture. That marked the world. ported record amounts of world’s second-largest full exit of Chongqing Trade on the Dutch Title increased imports from LNG to Europe, said Brayton economy. Doyen Shuorun Petro - Transfer Facility (TTF), as Russia, Norway and Tom, a senior risk manager Shell has agreed chemical Group in the market is known, is further afield via liquefied at Stonex Financial Inc. For to buy the stake it the gas station chain, surging as Europe increased natural gas tankers US sellers, the two primary didn’t already own in which was founded in imports from Russia, Nor - basins to supply are Europe Chongqing Doyen Shell 2006. way and further afield via and Asia, and the price liquefied natural gas difference between them tankers. Natural gas futures lating to take positions with steers where their ship - the gulf time open interest, a tally of out - confidence. TTF checks all ments are directed. Date: 04-11-2020 standing contracts on the In - the boxes.” “I think it’s more in - tercontinental Exchange, are TTF trading volumes in - grained as a normal product emirate of abu DHabi at an all-time high in data creased 43% to a record in to trade, which means the JuDiCiaL DePartment abu DHabi Court of first instanCe going back to 2005. New LNG deals are increasingly referencing the Dutch market and TTF is now 2019, according to Patrick liquidity is building and that Personal Status Dutch gas futures trading used in Asian trades Heather, senior research fel - it will be viewed as a Date: November 1, 2020 volume on ICE has soared low at the Oxford Institute broader LNG arc play going notice of Judgment 24% this year after more has been linked to US-dol - and TTF is now used in for Energy Studies. That’s forward,” Tom said. Case no. 418/2020 - Personal status - HQ.f - abu Dhabi notification method: by PubLiCation than doubling in the previ - lar-denominated oil in sup - Asian trades, too. more than three times the The ascendency of TTF ous two years. The pace of ply contracts, but the “TTF is the global market volume of the nearest rival has come at the expense of Claimant: blanche Jill Quibete Wee 0508930702 Nationality: Philippines Defendant: Jerry saazar acuna Nationality: Philippines Case Subject: Dissolution of marriage contract growth is impressive com - emergence of the Dutch for gas,” Patrick Barouki, di - in the UK and 11 times more declining trade at other re - Party to be notified: Jerry saazar acuna Capacity: Defendant ADDRESS: Emirate: City: Sector: Area: Street: House No: pared with the much larger market as the regional rector of gas trading and than at the two German gional markets once domi - Home Telephone: Mobile (1): Office Telephone: Mobile (2): notification of Defendant by publication. US Henry Hub benchmark, benchmark enabled utilities origination at German utility hubs combined. nated by the UK’s National You are hereby informed that this Court has rendered its judgment on the captioned case as follows: where futures turnover on to take more control over Uniper SE, said at a confer - The trading arm of Che - Balancing Point hub. And 1. The Court ruled to separate between Claimant, blanche Jill Quibete Wee , and her Defendant husband. Jerry saazar acuna , by way of divorce for difference of religion. The CME Group Inc has declined how they pay for the billions ence in October. “Down - niere Inc, the biggest US LNG Germany, while a bigger wife shall observe her "iddah" (waiting period) as of the date this divorce becomes final. 2. Defendant is compelled to pay the costs of the case. All Prayers and Blessings of Allah be upon the Prophet Muhammad, his family and his from its 2018 peak. of euros of gas imported stream liquidity is essential, supplier, bid for an LNG market in terms of con - companions this judgment is appealable within 15 days as concerns payment orders and 30 days The Dutch hub’s growing every year. New LNG deals showing enough use of gas, cargo for delivery to China sumption, remains much for any other cases, as of the date of notification thereof (november 1, 2020) attachments: A copy of the judgment rendered in the case No. 418/2020 - Personal Status - HQ.F - Abu Dhabi status is part of the LNG rev - are also increasingly refer - a variety of players, enabling at a price linked to TTF, smaller than TTF by traded Case management office / Signed & stamped / olution. For decades, the fuel encing the Dutch market people who are just specu - instead of the North Ameri - volume.

the gulf time the gulf time the gulf time the gulf time Date: 04-11-2020 Date: 04-11-2020 Date: 04-11-2020 Date: 04-11-2020 Date of Issue: 01-11-2020 emirate of abu DHabi uniteD arab emirates uniteD arab emirates uniteD arab emirates JuDiCiaL DePartment ministry of JustiCe ministry of JustiCe ministry of JustiCe abu DHabi CommerCiaL Court - 1st instanCe Defendant Declaration by Publication Commercial - Minor before Case management office of sharjah federal Civil notification of publication for a defendant request for service by Publication in execution Case Court of first instance Civil court of enforcement – civil (partial)- financial Date November 2, 2020 in Case no. sCfiCirea2020/0005202/ Civil (Partial) claims in case no. aJCeXCirea2019/0000360 service on Judgment Debtor by Publication ajman Court — Civil execution Court — Green valley notice of summons to appear before the Commercial To the Defendant: Basheer Ahamed Majid Majid real estate LLC Court (1st instance) Unknown Address: Central Prison of Sharjah to the defendant/ Donny birlin isudas Case no. 2121/2020 - Commercial - minor - HQ. f. abu Dhabi - C. 2. Amir Nazir Nazir Ahmad Nasim - Pakistani Payment notice in the Case no aJCeXCiPor202/0001054 3. Khurram Iftikhar Iftikhar Ahmad - Pakistani — Commercial (Partial) notification: by PubLiCation 4. Rashid Muhmood Abdul Hamid - Pakistani Please be noted that the plaintiff (nasir ahmed beloush 5. Sokathusen Salimbhal Shaikh - Indian moladad) filed the aforementioned case 210134.0 to 6. Waseem Raja Bashir Ahmad - Pakistani To: Judgment Debtor: Green valley real estate LLC Claimant: bank of baroda Nationality: uae request------Whereas, on ---, the judgment, copy of which is attached, was entered against Defendant: abu mansour foodstuff and vegetables Company - WLL Nationality: uae Declaration by Publication in Arabic and English you in favour of the plaintiff; Case Subject: financial claim amounting to aeD 939,065 Judgment Creditor: braodnet technologies LLC in the abovementioned case; Party to be notified: abdul salam aliyaru Kunju Capacity: - Upon request of the Plaintiff/ Afaf bint Mohammed Al-Hadi, Tunisian, in the above- Therefore, it is imperative to present before the court to mentioned case, she filed the case claiming the following: ADDRESS: Emirate: abu Dhabi City: abu Dhabi City Sector: Area: submit your defence and relevant documents. Should you Whereas the said Judgment Creditor has moved for the execution of the said Street: House No.: Home Telephone: Mobile (1): 0559434687 1. To obligate the Defendants, jointly and several, to pay AED 175,000.00 consists of AED not appear before the court, or send an authorized Judgment, and paid the relevant fees; and whereas the judgment to be Email: [email protected] Mobile (2): 105,000.00 as original taken amount, in addition to AED 70,000.00 as remedying attorney on your behalf, the court will proceed with legal executed is as follows: notification of Defendant by publication in english. compensation for the material and moral damages caused to the Plaintiff, while shall the Total amount inclusive of expenses and fees: 336,143.00, judgment shall be self-executing immediately without bail. procedures in your absence. Therefore, you are required to satisfy the content of the abovementioned writ You are summoned to appear before the Case management office, abu Dhabi 2. To obligate the Defendants to pay fees, expenses and attorney fees. of execution within 15 clays from the date this notice is served on you. Commercial Court of first instance. Commercial Cases management office, edited on 01/11/2020 I f y ou fail to do so, the court shall enforce against you the execution procedures You are assigned to attend hearing dated 08/11/2020 before Case Management Office set out by law ADJD headquarters, on mondays, november 9 2020, at 08:30 am, either of Sharjah Federal Civil Court of First Instance — office No. (Case Management Office Judge/ ali al mahlabi personally or through an authorized attorney, and submit a defense brief No.18) in person or by approved attorney, and submit replication to the above- supported by all documents so as to proceed with the preparation of the above mentioned case attached therewith all documents, within a period not exceeding ten by/ ajman Court Judge mentioned case in your capacity as Defendant. days from publication date, to consider the above-mentioned case as a defendant. Civil enforcement Court ali al mehlabi illegible signature Ajman Court Case management office Judicial services Director Court of execution ahmed mohamed ahmed al ali seal (Signature seen) (MOJ Stamp seen) / Signed & stamped / [Signature] [Seal of Ministry of Justice]

the gulf time the gulf time the gulf time the gulf time Date:04-11-2020 Date:04-11-2020 Date: 04-11-2020 Date:04-11-2020 Issuance date: 01.11.2020 Summons date: 02/11/2020 Summons number: 169129/2020 notice of service by Publication uniteD arab emirates Government of Dubai Government of Dubai before Case management office of sharjah Courts ministry of JustiCe Dubai Courts Dubai Courts the federal Civil Court of first instance service by Publication to Judgment Debtors CiviL Court of first instanCe in the matter of the Partial Commercial Case no. ajman Court - Civil Court of execution 15 September 2020 summons by PubLiCation Payment notice in Case no. mr ahmed salah mohammad Gado (Claimant) service by email sHCfiCiPor2020/0005910 Represented by Case number: 1466/2020/11 Civil Partial aJCeXCiCiv2019/0000297 - execution bQt business Consultancy DWC-LLC To the Defendant: nisar suhail muhammad ramazan, Floor 304, Burlington Tower - Business Bay - Dubai, UAE subject-matter of the case: to compel the defendant to pay an amount Of Unknown Address: Flat No. (602), Al Aziziah Building, Al Wehda Street, Tel: +971 4 554 6278 To: of AED 138898.25 with legal charges and legal fees' plus legal interest Emirate of Sharjah, UAE. Judgment Debtor: LavasH baKery /L.L.C; Email: [email protected] notice of service by publication in arabic and english 9% from the date of the case initiation and until the full payment. Judgment Debtor: shibu mangalath Devassy - Indian national; and mre GLobaL investment GrouP fZe (Respondent 1) Party requesting summons: abaCus Quest Point represented by its Based on the request of the Claimant: Commercial bank international P.J.s.C Judgment Debtor: Jesna John shibu - Indian national. memon reaL estate broKer LLC (Respondent 2) service by email, fax and courier The Claimant has filed the above case requesting the Court to: 803, XL Tower, Business Bay - PO Box 41950 - Dubai, UAE owner Mr. sWaruP ananD amminaeni JoHn Capacity: plaintiff A judgment has been rendered against you in the above Case in favor - Order the Defendant to pay the Claimant Bank the sum of AED Tel: +971 4 364 9265 / Fax: +971 4 364 9268 Summoned Party: neviL GerarD GuntHer Capacity: defendant of the Judgment Creditor. Emails: [email protected]; [email protected] 44,668 (Forty Four Thousand Six Hundred Sixty-Eight Dirhams) along [email protected] (place of residence unknown) with the legal interest of 12% from the date of filing the claim till the Judgment Creditor: Commercial bank of Dubai subject-matter of the summons: date of full payment. The said Judgment Creditor requested to execute the said Judgment re: DiaC Case 88/2018 notification of executive Committee's decision you are hereby notified that the plaintiff has filed the above case - Order the Defendant to pay the fees, expenses, attorney's fees. and paid the fees estimated for the same, as the Judgment to be against you to compel the defendant to pay an amount of AED Therefore, you are required to appear, in your capacity as a defendant, executed is as follows: Dear Mesdames and Sirs, 138898.25 with legal charges and legal fees' plus legal interest 9% from on 08/11/2020 before Case Management Office of Sharjah Courts, the The total amount of Judgment including fees and expenses: 1968008.0 the date of the case initiation and until the full payment. Civil Court of First Instance, Office No. (Case Management Office No. Accordingly, you are required to execute the above exequatur within The Centre informs you of the Executive Committee's decision of 7 September 2020 2) in person or by a legal representative, and you are kindly required to to extend the time limit for rendering the final award until 10 December 2020, upon A court hearing has been set on tuesday corresponding to 17/11/2020 15 days as from the date you are notified hereof. the sole arbitrator's request. at 10:00 am in remote courtroom BUILDING DESC & You shall submit a reply memorandum and all documents within no more than If you fail to pay the Judgment amount, the Court shall take the Consequently, the new time limit for rendering the final award is 10 December 2020. ten days from the date of publication to consider the said case. If you require any assistance, please do not hesitate to contact the Centre. accordingly appear in person or by proxy, to respond to the case and compulsory execution procedures against you as stipulated by the law. Yours faithfully, submit your statement of defense and supporting documents if any at Director of Judicial services mohammad at mulla Judge /ali al mahlabi/ abdul aziz anwar least three days prior to the hearing date. //signed// ajman Court /Civil Court of execution/ signed/ Case manager //stamp of ministry of Justice// Dubai international arbitration Centre Head of Legal actions Department: /seal of the uae ministry of Justice/ c.c.: mr. adam bradshaw / email: [email protected] Hamad abdullah ali ahmed //signed//

the gulf time the gulf time the gulf time the gulf time Date: 04-11-2020 Date: 04-11-2020 Date: 04-11-2020 Date: 04-11-2020 Notification No. : 169719 / 2020 Notice by publication No. 168003/2020 Notification Date : 03 / 11 / 2020 Dated 01/11/2020 Government of Dubai Government of Dubai Government of Dubai Government of Dubai Dubai Courts Dubai Courts Dubai Courts Dubai Courts summon by publication Case no. 18 / 2020 / 933, real estate Partial Legal notice to be served by Publication notifiCation by PubLiCation Case no. 16/2020/3802 Partial Commercial Summon No 168924/2020 no. 5377/2020 notification Details Date: 02/11/2020 by : Plaintiff / Dubai islamic bank Notice to: foad abbas tamiz (defendant) Summon type: publication summon (objection) the notifying Party: MAITIROUZI MAIMAITIABULA, Chinese National to : Defendant / maHmouD reDa Hussein barsaian Case no. 21/2020 real estate objection unknown address Notice from: Dubai bank PJsC (Claimant) the notified Party: Abudula Abudurezhake, Chinese National Details of the summon notification subject subject: Please be informed that the Plaintiff / Dubai Islamic Bank ( a Public Joint Stock subject: The Claimant filed a case claiming the defendant to the defendant: Company ) has filed the Case against you seeking to terminate the rent to own 1) Nadeem Rafiq Mir — unknown address The Notifying Party hereby orders the Notified Party to pay the agreement and its annexes concluded between the parties to the dispute, oblige to pay AED 669,801.38 (six hundred sixty-nine thousand, sum of USD 100,000 or the equivalent in the UAE,i.e 368,000, in eight hundred one Dirhams and thirty-eight fils) for both the Defendant to hand over the property -subject matter of the said Agreement — Whereas the plaintiff Divya rajesh Gopwani , represented addition to a legal interest of 12% from the date of claim until the whose borders and descriptions stated in the title deed and keep the Defendant Claimants, plus 12% interest per year from the date of filing date of full payment along with the charges and expenses within under obligation to pay to the Plaintiff a total amount of aeD 38,627.00 against late the claim until full payment. by the Mahmoud Ibrahim Abdullah Abdul Karim Al Hawai, rental values owed by the Defendant as of 01 / 11 / 2019 until the date of filing the has filed the above objection against rendered decision 5 days from the date of this Notice. Otherwise, the Notifying Party Case along with the new rental value at an amount of aeD 45,000 per annum until under No45/2020 and the fees and expenses, will be obliged to take all legal procedures to protect her rights, the date of delivery of the property, and an amount of aeD 222,500 as compensation The Hearing has been scheduled on Tuesday, 10/11/2020 and to obtain payment order and demand for appropriate to the Plaintiff and for the damage suffered by the Plaintiff due to the Defendant's breach of his contractual obligations and obligate the Defendant to submit a at 9:30 am at the court’s remote chamber &Building_DESC. compensation for any loss or damage to the Notifying Party, Therefore, you or your attorney shall be present to submit Therefore, online hearing has been set on sunday clearance stating the payment of service fees, electricity and water consumption 15/11/2020 , thus you are requested to appear at ONLINE noting that all the litigation expenses and costs and attorney fees fees and any other fees that were consumed until the date of complete eviction your memorandums or documents before the court, at and actual delivery of the property, including charges, expenses and attorney's fees. Litigation Hall, in order to submit your memos along with all will be borne by the Notified Party. least three days before the said date. Therefore, you or your legal representative is required to appear before the Court documents at least three days before the hearing date. and submit all memoranda or documents you have to the Court three days prior And in case of your failure to attend, the judgment will be notary Public to holding the session at least. Head of Division: nasir abdullah al-abdulli //signed// The session is scheduled to be held on Wednesday, corresponding to 11 / 11 / 2020, considered as if you were present. at 08:30 AM at the online litigation hall "&BUILDING_DESC".

the gulf time the gulf time the gulf time the gulf time Date:04-11-2020 Date:04-11-2020 Date:04-11-2020 Date:04-11-2020 27/ 10/ 2020 Notice date: 21-10-2020 Service Date: 25-10-2020 Notice No: 162268/2020 Service Number: 163809/2020 Government of Dubai Government of Dubai Government of Dubai Government of Dubai Dubai Courts Dubai Courts Dubai Courts Dubai Courts Dubai Court of CommerCiaL first instanCe eXeCution Court Judicial notification by Publication Public notice in the case number summons by Publication service by Publication no. 5682/ 2020 16/2020/3826 partial commercial Case no. 2614/2020/16 Commercial execution no. 1098/2020/208 Civil execution The notifying parties: To the respondent : 1- aPJ faCiLities manaGement serviCes L.L.C. The first party: farjana anjum Khan - Nationality: Bangladesh Case subject: execution subject: enforcing the Judgment delivered in Lawsuit no. The second party: shehtaz munasi Khan - Nationality: Bangladesh Unknown domicile. To claim to oblige the defendant to pay AED 498.622.82 to the plaintiff 139/2020 Civil Limited Jurisdiction for the Payment of the awarded sum The notified parties: which is outstanding amount for scaffolding hiring with 9% legal interest 1- Damac star for real estate LLC The claimant: Qahtan Jewellery (L.L.C.) (br) , represented by of 12627 AED including the Fees and Expenses. as of the payable date on 28-06-2020 until full payment and to charge Notifying Party: HotLine teLeCom LLC - branch 2- emad bassam faiq shehadah yousif abdelghaffar abdelrahman alsharif . therefore them with the court fees. Capacity in the Lawsuit: Judgment Creditor Whereas the notified party was previously informed in notification No. Filed a case which subject matter is to obligate the first Applicant: international scaffolding trading and rental LLC - as plaintiff Represented by amer saayed mohammed saayed muhi ruushin al 138458-1-2020 at the address given in the notification and the court bailiffs reply To be notified: marzooqi Capacity in the Lawsuit: attorney was, "(and there, the door was knocked several times and at different times and respondent to pay to the claimant an amount of two million and 1) falcon amber Contracting LLC - as defendant Notified Party: 1. muQim osmani no one opened. Therefore the notification was not possible.)" and the four hundred thousand U.S Dollars or its equivalent in the Emirati investigation was made about the notified party by the Economic Department Unknown residence Capacity in the Lawsuit: Judgment Debtor - and we received the investigating statement with the notified party's details Dirham (8808000) and an annual interest of 12% from the date of notice subject: Address: Unknown and data, and since the two notifying parties want to finalize the notification We notify you that the court has ruled in its hearing dated 28-09-2020 in service subject: procedures to complete the legal procedures against the notified party, the the claim until the date of fully payment. the said case for / International Scaffolding Trading and Rental LLC to Whereas the Notifying Party brought the aforesaid executive lawsuit two notifying parties seek permission to inform the notifying party/ Damac Star oblige the defendant to pay AED 498.622.82 to the plaintiff which is for Real Estate LLC at the address given in the statement of the Economic The hearing is scheduled on thursday dated 10/11/2020, 8:30 am against you to compel you to pay 12627 dirhams to the Judgment outstanding amount for scaffolding hiring with 9% legal interest as of the Department, according to what we received in the following investigation: in the remote litigation hall (BULIDING — DESC). Therefore you are creditor or the Court's treasury, therefore the court will take the Office 2012, Malak Smart Heights - Tecom - 20 th floor - Telephone 0097143322005- case filing date on 20-07-2020 until full payment and to charge them execution actions against you in case you fail to comply with the said 00971506592049, otherwise the notifying parties will have to take all legal requested to attend or whoever represent you legally and you with the court fees decision within 15 days from the date on which this notice is published. procedures against the notified party, including filing the lawsuit, with forcing As appealable judgment within thirty days as of the next day of the notified party to pay all the case fees and charges and the attorney fees. shall present your memorandums or documents to the court at publishing this notice section least three days before the hearing. notary Public Chief of section fahd abdulmalik ahli

the gulf time the gulf time the gulf time the gulf time Date:04-11-2020 Date:04-11-2020 Date:04-11-2020 Date:04-11-2020 Notification date: 02-11-2020 Notification Date: 2 November 2020 Notification Date: 21/10/2020 Date: 3/11/2020 Notification number: 168604 /2020 Notification No.: 169304/2020 Notification No: 2020/162477 Notice No. 169824/2020 Government of Dubai Government of Dubai Government of Dubai Government of Dubai Dubai Courts Dubai Courts Dubai Courts Dubai Courts Court of PersonaL status 11/2020/1723 Partial Civil notification by Publication summoning by Publication notification by Publication notification of Publication Case no.: 16/2020/3534 Commercial summary Case no. 1747/2020/11- Civil Partial the subject matter of the case: Obligating all Defendants to jointly pay Claimant on Case no. 965/2020/100 Personal status of muslims Details of Publication Notification an amount of AED 1,520,055.96 (one million, five hundred twenty thousand, fifty Case subject: Claiming to compel Defendants to repay an amount of To Defendant: 1- masood ahmed malik sher muhammad malik five Dirhams and ninety six Fils) plus a statutory interest of 12% to be accrued appeal subject: Divorce Case for Religion Difference AED 56,250 plus fees, expenses and advocate fees in addition to interest from the date of filing the case until full payment is honored in accordance with Unknown Resident Applicant: soby viPin In her capacity as plaintiff at 9% from date of claim until full settlement. Whereas Claimant: arabia taxi L.L.C the above provisions, as well as obligating Defendants to pay the legal charges and expenses and attorney's fees. The party to be : viPin HariDas In his capacity as defendant Applicant of summoning: oman insuranCe Co. PJsC Represented by: abdurrahman Hassan mohammed al motai Applicant: the Commercial bank of Dubai P.s.C Capacity: Claimant Unknown place of residence Capacity: Plaintiff Filed the case against you which subject is to claim for obligating Addressees: Party to be summoned: 1- abDuL HafeeZ KHan meHnDi KHan Defendant with paying an amount of (AED 9243), fees, charges and 1. merly marthi suzan ayoubri - Capacity: Defendant subject: 2. Hanaa mohamed Dhaher bin Dhaher - Capacity: Defendant Capacity: Defendant attorney's fees and the interest of 9% upon the due date until the full 3. ali said Gomaa al bawardi - Capacity: Defendant We would like to inform you that divorce case for religion was notice subject: Whereas the Plaintiff has filed case against you subject payment and the judgment shall be included in the urgent execution 4. arushi fashion Design LLC - Capacity: Defendant filed against you. of which is Claiming to compel Defendants to repay an amount of AED without bail. The Subject Matter of Notification: Claimant filed case against you pleading the court thereunder to obligate Defendants to jointly pay Claimant an amount of The hearing of this case will be on thursday, 12/11/2020 at 09:30 56,250 plus fees, expenses and advocate fees in addition to interest at Kindly be informed that the abovementioned case was registered AED 1,520,055.96 (one million, five hundred twenty thousand, fifty five Dirhams am, at court room Remote Litigation, Personal Status Court in Al 9% from date of claim until full settlement. against you, so kindly please be informed and attend via the visible and ninety six Fils) plus a statutory interest of 12% to be accrued from the date Hearing for such case was fixed on Wednesday 11/11/2020 , from 9:00 communication program — BOTIM Application — before Eleventh of filing the case until full payment is honored in accordance with the above Garhoud. Therefore, you have to appear before the court or provisions, as well as obligating Defendants to pay the legal charges and am , until 12:30 pm , in chamber of remote litigation through BOTIM Department of Initial Case via Tel. (00917543086937) sunday expenses and attorney's fees. The court scheduled the session of monday, appoint someone on your behalf to submit your memorandums application on 0566039276; therefore you are obliged to attend corresponding 08-11-2020 at 8:00 am till 12:30 Pm or the visible 9/11/2020 at 9:30 am at online litigation hall (BUILDING-DESCS&). So, you are and documents to the court at least three days before the personally or by proxy and you may provide the court with any attendance by Approved Service Providing Center (Alodid) to present required to attend whether personally or through your legal representative to submit your documents and memorandums to the court three days at least prior hearing. documents or supporting papers within three days prior hearing date. your reply to the plea of the case and its attachments and in order to to the scheduled date of the session. recognize the documents of the case via the website of Dubai Courts, Head of Department Case manager Chief of Department kindly please contact 043347777 alyaa mohamed al Hajj ahmed mohamed alkhazraji wednesday 04 nOVeMBeR 2020 04 OPINION The gulf Time Last check on presidential

Chairman of ThE board Saeed Saif power: We the people US Constitution’s checks and balances would preserve liberty that the Tel: 02-4468000, Fax: 02-4485401 document was supposed to enshrine, said ex-president James Madison Website: www.emirates-business.ae Email: [email protected], [email protected], [email protected] Printed at: al Wathba Printing Press

Early vaccine hopes Noah FeldmaN fter four years of President Donald have a math problem ATrump’s assault on the Constitution, it comes ovid-19 vaccines may not arrive quite as soon as people hoped. An down to this. The courts October surprise didn’t happen, there will be no vaccine by Election have done what they could CDay, and even Thanksgiving might be pushing it. to limit the damage; the Front-runner Pfizer Inc’s oft-repeated suggestion that it might have vac - House impeached him; and cine data by Halloween was wrong, and Anthony Fauci now suggests an im - the Senate let him get away US President Donald Trump holds a Make America Great Again rally at the Fayetteville Regional Airport as part of his munisation might not be available on even a limited basis until January. with it. Now all that re - Republican campaign for the US presidential election in Fayetteville on November 02 —DPA Efforts to speed results and availability have been historic, but they have mains is the final check pro - limits. Specifically, quick vaccine hopes have a math problem. To clear a high vided by the Constitution: a to fight the Federalists of statistical bar and prove effective enough to get emergency use authorisa - vote of the people. Washington and Alexander If a majority of the people vote for Joe Biden and for tion from the Food and Drug Administration, early candidates would have James Madison would Hamilton. In 1800, when to be both very protective and quite lucky. That won’t be easy. have seen this coming. the Republicans won, Senate Democrats, but Donald Trump wins the Here’s how it works. In these Covid-19 clinical trials, some participants While the Constitution was Madison and Jefferson saw Electoral College and the Senate remains Republican, get a vaccine, some get a placebo, and researchers measure how many get being ratified, he argued it as a moment of salvation. the nondemocratic elements of the US Constitution sick in each group. They examine the data at several points in the trial to that its checks and balances The people had restored will have blocked the people’s efforts to reject Trump see if the vaccinated participants have a lower rate of illness. In order to would preserve the liberty the constitutional balance gain FDA authorisation for use against the coronavirus, a vaccine needs to that the document was sup - when the Constitution itself and Trumpism. James Madison’s Constitution will be show firm evidence that it protects at least half of those inoculated. Barely posed to enshrine. “Ambi - could not. revealed as antique, tottering and vulnerable clearing 50% isn’t good enough to declare success after just a few months, tion must be made to The first lesson for 2020 however. This is because at the first checks, when the number of confirmed counteract ambition,” he is obvious: The only way cases is low, there’s a higher statistical likelihood that what looks like a pro - wrote in the most famous of Trump’s constant attacks slaveholding states by vote for Joe Biden and for tective effect results from chance rather than the vaccine’s good work. The the Federalist Papers. on the Constitution can recognising three-fifths of Senate Democrats, but most advanced vaccine trials accounted for this mathematical truth by set - Yet within a few years, now be repudiated is by a state’s enslaved popula - Trump wins the Electoral ting a higher bar for the first look — efficacy of around 75%. Madison had come to be - voting him out. The people tion. As a Virginian, Madi - College and the Senate re - Just one extra case amid thousands of vaccinated participants could lieve that the system he did can do what the courts and son was on board with this mains Republican, the non - swing early analyses because the numbers are small. That’s where luck so much to design was vul - Congress could not or model. He had even sug - democratic elements of our comes in. Moderna Therapeutics Inc, another leader in the vaccine race, un - nerable to subversion. The would not. They alone can gested the three-fifths num - Constitution will have derscored the issue during its third-quarter earnings call last week. The checks and balances writ - send the message that ber himself. blocked the people’s efforts company’s presentation noted that success will be essentially a coin flip ten into the Constitution Trump’s sustained and sys - When it came to the Sen - to reject Trump and Trump - after 53 cases — when it will take its first peek at the data — even if the were not enough to with - tematic attack on our insti - ate, however, Madison was ism. Madison’s Constitution vaccine is ultimately capable of preventing Covid-19 in three-quarters of stand a powerful president tutions is dangerous, wrong outraged by the idea that will be revealed as antique, those who get it. If that initial look is inconclusive, the board overseeing the like George Washington if and anathema to small-r representation would be tottering and vulnerable. 30,000-person trial won’t reassess the shot until cases double. Pfizer faces he was backed by an organ - republicanism. two per state rather than And that will mark a crisis even more uncertainty because it plans a peek after just 32 confirmed ised political party with a It’s not inevitable that the proportional to population. of legitimacy for the docu - symptomatic infections. monarchic ideology. people will save the Repub - Indeed, Madison left the ment itself. This particular issue doesn’t even come into play until there are enough The only possible check lic. Madison understood Philadelphia convention If, however, enough of the infections. As of Pfizer’s own third-quarter earnings release, the drug giant on partisan power, Madison that a republic could only in 1787 not triumphant at people vote to get rid of hadn’t hit its first-look threshold, and its failure to reach just 32 cases in a came to believe, was the survive if the people pos - having achieved most of Trump and punish the Sen - trial that is larger than Moderna’s suggests participants may be catching people, voting en masse sess political virtue. If the his goals, but deeply frus - ate for acquitting him, Covid-19 less frequently than expected. One possible explanation is “func - to restore their liberties. people lacked that quality, trated that the small states Madison’s Constitution will tional unblinding,” whereby the presence or lack of side effects might let With Thomas Jefferson, he the republic would fail. The had successfully achieved be back on track. It still volunteers guess if they got the vaccine and lead them to take different virus formed the first Republican example of Rome was never their single demand — won’t be perfect. But the risks, potentially slowing and skewing trial data. Two other leading candi - Party (sometimes called the far from the minds of the equal representation in the Constitution never was per - dates only just restarted trials after pauses to investigate potential safety Democratic-Republicans) Framers. It was the greatest Senate. fect — not even close. The issues. republic they knew, and it As a result of these two United States is not perfect. The recent spike in Covid-19 cases may increase the rate of infection in had devolved into an em - compromises, a popular We the people of the United these trials, removing one roadblock in getting to the threshold for looking The first lesson for pire. It could happen here. majority won’t necessarily States are not perfect. But in at initial trial data. But that look will come when the odds of success are at 2020 is obvious: The And a simple majority of win the presidency, and a a system full of checks and their lowest. What this all means is that the wait for results and FDA autho - only way Donald Trump’s the people won’t be enough relatively small percentage balances, we are the last. risation may still prove long, and the wait for broad availability and distri - constant attacks on the — because the Constitution of the overall population —Bloomberg bution even longer. Vaccines will get here, but anyone thinking it’ll happen isn’t majoritarian. We see can control the Senate. We anytime soon should re-set expectations. Constitution can now be this most clearly in the Elec - are living in an era where Noah Feldman is a Bloomberg Opin - —Bloomberg repudiated is by voting toral College and the struc - these two potentialities ion columnist and host of the podcast him out. The people can ture of the Senate. Madison have frequently been re - “Deep Background.” He is a professor do what the courts and supported the one and alised. That means that of law at Harvard University and was hated the other. 50% +1 of the people isn’t a clerk to US Supreme Court Justice Congress could not or The point of the Electoral enough to serve as a check David Souter. His books include “The other opinion would not College was to ensure an on power. Three Lives of James Madison: Genius, advantage to Southern If a majority of the people Partisan, President” Covid-19 lockdowns make us less creative Will Christmas come early for Amazon

s Europe struggles with the UK lockdown will include the Black Friday promotional period second wave of the virus and Not only does virtual working Afaces a new round of lock - aNdrea Felsted French government said it downs, governments and busi - risk loneliness, it is also bound was inappropriate to pro - nesses must ask themselves to reduce on-the-job learning, mote it when other retailers whether people will cope with creativity and innovation — all or many retailers, the were suffering.) more restrictions as well as they final three months of There are signs that some have striven to do so far. of which are often tied to Fthe year are tradition - people started Christmas For many white-collar workers, serendipitous encounters ally known as the Golden shopping early, which the pandemic has already made re - Quarter, when non-food helped retail sales in Sep - mote work the new normal. But for shops make the bulk of their tember, according to an im - all of its advantages, like saving on came back to the office. The evi - profits. portant sales monitor from commuting time, there is also a dence, however, is less negative: Al - The period this year will the British Retail Consor - price to pay — one that increases though productivity for some be far from sparkling — un - tium and KPMG. But this the longer we are out of the office businesses can suffer, employees less you are Amazon.com won’t make up for the loss of and not able to meet others in per - seem to compensate for it by toil - Inc. The online retailer is trade during the crucial Many consumers will simply turn to Amazon — especially when needing to son. Not only does virtual and dis - ing longer hours. In some cases, ef - poised to be one of few weeks of November. buy Christmas gifts. The company was able to prosper during the spring tanced working risk loneliness, it is ficiency actually increases when winners from the UK gov - lockdown by continuing to deliver a broad range of goods As restaurants, they were also bound to reduce on-the-job employees stay at home. ernment’s decision to im - already suffering from a learning, creativity and innovation Unfortunately, lockdowns bring pose a four-week lockdown dearth of office parties, as — all of which are often tied to additional complications. For and the recent restrictions Amazon.com is poised to be one of few winners from well as a 10 pm closing time serendipitous encounters. starters, when governments re - announced in France and the UK government’s decision to impose a four-week across England. Still, having The case for having people work quire most people to stay home, re - Germany. some customers was better from home, if they can, is relatively mote working is no longer a choice For everyone else, it is im - lockdown and the recent restrictions announced in than none. Now that’s off the straightforward. Governments and for one’s preferred work environ - possible to overstate just France and Germany. For everyone else, it is impossible table. And they probably businesses have a joint interest in ment but an obligation. This be - how damaging the new to overstate just how damaging the new rules will be won’t be able to count on a containing outbreaks to keep the comes even more problematic rules will be. Non-essential pre-Christmas rush. Some pandemic in check. Politicians when schools are also forced to retailers across England will will be able to offer take - want to relieve pressure from the close, as parents have to juggle have to close their doors at and France, said that 57% Customers will also be away, but unless establish - healthcare system, while employ - work alongside taking care of their a time when they were full of its selling space would able to order products on - ments appeal to a young, ers want to prevent disruptions to children and helping them with of stock. The lockdown will be temporarily closed from line and collect them from tech-savvy customer base, their workflow. Local authorities distance learning. include the Black Friday November 5. It estimated stores, though the question this won’t compensate for also want to limit the use of public Another peril comes when com - promotional period. that it would lose 375 is whether local warehouses closed doors. transport to those who really need pulsory work-from-home is pro - Although I have argued million pounds ($484 mil - will be able to cope with the It is not even clear that it. For employees, remote working tracted. For example, it may be that European retailers lion) worth of sales from deluge in demand. hospitality will be able to re - means a smaller chance of catching relatively straightforward to carry adopting the US shopping these shuttered stores. Many consumers will open on December 2. When the virus and spreading it to their on performing the same tasks you holiday are making a grave Groups with strong inter - simply turn to Amazon — businesses don’t know what own families. did in the office from your living mistake, it at least drives net offerings, such as Next especially when needing to to expect — Will they face The costs are harder to quantify. room. But what about starting new foot traffic to town centres Plc, should fare better, as buy Christmas gifts. The further shuttering? Or a Several businesses simply can’t be tasks or improving processes, and leads to some incre - should the supermarkets, company was able to pros - surge in trade once people run remotely. For occupations in which at some point will need to mental sales. That won’t be which will still be allowed per during the spring lock - can finally leave their which staying at home is an option, happen? It becomes much harder the case this year. to stay open and sell non- down by continuing to homes? — it is very difficult the impact on productivity remains to organise and innovate when Retailers that don’t sell food items. Underlining the deliver a broad range of to plan. an open question. A number of ex - people can only exchange ideas online are the most ex - likely rush to laptop and goods, while other retailers Needless to say, the forth - ecutives, such as Jamie Dimon at through mostly scheduled phone posed. Associated British mobile ordering, online gro - held back from supplying coming restrictions are not JPMorgan Chase & Co, had warned calls and teleconferences. Foods Plc, which owns cer Ocado Group Plc on items they considered non- the Christmas gift that re - in September that efficiency was cheap-chic retailer Primark Monday upgraded its profit essential. (Amazon decided tailers, pubs and restaurants bound to suffer unless employees —Bloomberg in the UK and other coun - forecasts for the current fi - to halt its Black Friday radio wanted. tries including Germany nancial year. campaign in France after the —Bloomberg WEDNESDay 04 NovEmbEr 2020 retail/aViatiON 05

airlineS across europe have been paring back already reduced schedules due to a resurgence in the virus Ryanair braces for deepening losses from new lockdowns The shortfall in fiscal second half, which began on October 1, is set to exceed Unions seek changes the $229 million loss of the first six months, the Dublin-based carrier said to 737 Max training BloomBerg BloomBerg The Federal Aviation Ryanair Holdings Plc said losses Pilot unions and families of are set to worsen this winter as those killed in a crash of Boeing Administration’s a new wave of coronavirus lock - Co’s 737 Max are asking for re - proposed new training downs frustrates attempts to visions to proposed new train - module and emergency bring back flights at Europe’s ing for the grounded jetliner. checklists for the Max biggest discount carrier. The Federal Aviation Admin - The shortfall in the fiscal sec - istration’s (FAA) proposed new are “clunky at best” and ond half, which began on Octo - training module and emergency should be streamlined, ber 1, is set to exceed the 197 checklists for the Max are the Southwest Airlines million-euro ($229 million) loss “clunky at best” and should be Pilots Association of the first six months, Ryanair streamlined, the Southwest Air - said in a statement. By compar - lines Pilots Association said in said in comments filed ison, the Irish firm recorded a comments filed with the FAA. A with the FAA profit of 1.15 billion euros in group of dozens of family mem - summer 2019. bers and friends of the 157 peo - Airlines across Europe have ple who died on an Ethiopian posted on a government web - been paring back already re - Airlines crash on March 10, site were technical and don’t duced schedules as a resur - 2019, go further, seeking addi - appear to create a huge chal - gence in the virus prompts a tional design changes and more lenge to the FAA’s work finalis - return of restrictions. Ryanair detailed training outline. ing changes to the plane that will offer 40% of its usual ca - This file photo shows Ryanair aircraft parked in front of the passenger terminal at Hahn Airport in Rhineland-Palatinate —DPA “The FAA’s proposed update will allow it to return to serv - pacity this winter and the figure to the 737 Max pilot training re - ice, possibly before the end of could drop further, with revised falling between October’s quirements is inadequate to the year. full-year passenger targets also school holidays and the festive n Ryanair will offer 40% of its usual capacity this winter rectify Boeing’s history of 737 Several people urged the FAA under pressure, said Chief Exec - season. and the figure could drop further, with revised Max-related failures and insuf - to allow the use of simpler flight utive Officer Michael O’Leary. Forward bookings for the ficient to prepare pilots to safely simulators that don’t replicate The fresh curbs reflect a deficit month “were already terrible,” full-year passenger targets also under pressure, said fly the airplane,” the family the motion of a plane but are of government policy, he said. so it’s not clear how much fur - the carrier’s CEO Michael O’Leary group said in its comments. cheaper to use and easier to ac - ther impact there’ll be. Most of the 29 comments cess during the pandemic. Shares of Ryanair traded Lockdowns are a 1.1% lower at 11.7 euros as of n Ryanair is hoping for a Covid-19 vaccine to be announced failure. They should 8:04 am in Dublin, extending “this side of Christmas,” driving a rebound in travel next their decline this year to 20%. year, according to CEO Michael O’Leary be avoided wherever The Stoxx 600 Travel & Comair secures new debt possible. They’re only Leisure Index, which includes useful if you use the time airlines and hospitality compa - rier said in the statement. a recent bookings surge when as lenders back rescue to get your testing and nies, has slumped 33% this year, “There are no reasons to be the UK added the Canary Is - making it among the worst per - concerned on liquidity,” Daniel lands to an approved-travel list, BloomBerg Comair, which operates the tracing system in place forming sectors. Roeska, an analyst at Sanford C flights people may not now be low-cost Kulula brand, was Ryanair is hoping for a Covid- Bernstein said in a note, though able to take. Comair Ltd, the South African put into a form of bankruptcy Michael o’leary, 19 vaccine to be announced the current 12-month passen - Ryanair said it expects to re - partner of British Airways, protection in May after South CEO, Ryanair “this side of Christmas,” driving ger projection of 38 million ap - ceive its first Boeing Co 737 Max said it secured financing Africa banned non-essential a rebound in travel next year, pears “too optimistic.” jets early in the new year after from banks, paving the way travel to contain the spread of according to O’Leary. Sorahan said that Ryanair in - the model grounded in the wake for the resumption of flights in the coronavirus. The govern - “Lockdowns are a failure,” he The carrier is meanwhile ex - tends to operate its previously of two fatal crashes returns to December. ment has since cleared air said on Bloomberg Television . tending efforts to cut costs, be - announced schedule in the UK, service in the fourth quarter. The lenders, which weren’t travel, and domestic carriers “They should be avoided yond temporary pay reductions the company’s biggest market, The carrier, which has 135 identified, will provide the air - including FlySafair and state- wherever possible. They’re only for staff that it’s already agreed, despite a lockdown announced orders for the high-density line with new debt facilities owned Mango are experienc - useful if you use the time to get and can’t rule out further job at the weekend that will see Max-200 variant, expects to and defer interest payments ing a pickup in demand. your testing and tracing system losses, Chief Financial Officer leisure travel effectively ruled have 30 of the planes by next on existing debt, according to Comair’s shareholders in - in place.” Neil Sorahan said separately. out from Thursday. summer. a company statement. Comair clude British Airways, part of At the same time, November Ryanair has about 4.5 billion Ryanair says it sees a release O’Leary said discussions are has also reached an agree - IAG SA, and South African may be the best month to euros in cash, and 80% of its in pent-up demand whenever ongoing with Boeing for a fol - ment with labor unions, it industrial group Bidvest be locked down, O’Leary said, fleet is unencumbered, the car - restrictions are eased, including low on order for new planes. said. Group Ltd.

World’s best-performing airline ShopperS at CoStCo Store in england stock is bankrupt Indian carrier

BloomBerg Retail investors are the last ones to get anything out of a All airlines are feeling the bankruptcy, yet some are buy - coronavirus pinch but one that ing in the hope Jet Airways will hasn’t flown since April 2019 successfully emerge from a re - after collapsing under a pile of structuring, said Ajay Srivas - debt is the world’s best per - tava, managing director of forming -- at least from a share advisory firm Dimensions Cor - price point of view. Jet Airways’ runaway porate Finance Services. The Stock in Mumbai-listed Jet airline isn’t being thought of as Airways India Ltd has surged gains have market a going concern, but a shell almost 150% this year versus watchers scratching their containing assets that may be a 42% plunge in the 27-mem - heads since it’s sold, he said. ber Bloomberg World Airlines undergoing bankruptcy In its heyday, Jet Airways Index, which comprises the was India’s No. 1 private car - globe’s biggest carriers. proceedings, has creditors rier, taking on the monopoly of Its runaway gains have mar - seeking claims of $3.4b state-run Air India and offer - ket watchers scratching their ing intercontinental voyages heads, especially since Jet Air - with free gourmet meals and ways is undergoing bank - A panel of creditors did ap - in-flight entertainment. But a ruptcy proceedings, has prove a resolution plan last slew of budget carriers that of - almost 17,000 creditors seek - month, bringing the recovery fered no frills, ultra-cheap tick - ing claims of around $3.4 bil - of any dues one step closer, but ets ate into its market share Shoppers are seen at Costco store ahead of the national lockdown in England, which will start from Thursday due to the increase lion and has had most of its that doesn’t guarantee a re - and Jet Airways started to of coronavirus cases across the UK —DPA landing slots confiscated. sumption of flights. drown in debt. Spanish ‘ghost airport’ reinvents itself as park for idle jets Ciudad Real airport’s main taxiway has been converted, and accommodates about half of 80 jets parked at the hub

BloomBerg media have dubbed it a “ghost The arrival of the coronavirus ended even that trickle of airport”. CRIA, as CR Interna - Spain’s Ciudad Real airport had demand, tearing up the growth plans of the owner, tional is known, resumed oper - become almost obsolete before CR International Airport SL. But rather than face the ations in September 2019, with the Covid-19 outbreak, operat - a business plan based on at - ing mainly as a drop-off point prospect of collapse, the company reinvented the hub as a tracting cargo flights, plane for hunting enthusiasts keen to home for grounded planes, with capacity to store as many maintenance and private visit the region’s renowned as 300 through a series of renovation projects jets — of which about 300 country estates. landed before the virus hit. The arrival of the coron - “Before the pandemic, we avirus ended even that trickle The main taxiway has already infections and travel restric - started to build four hangars,” of demand, tearing up the been converted, and accommo - tions kill demand from the Luna said, “They should be growth plans of the owner, CR dates about half of the almost US to Australia. Meanwhile ready in a year, as we expected International Airport SL. But 80 jets parked at the hub. Three smaller airports are facing a fi - logistics and maintenance to rather than face the prospect of more reconstructions are un - nancial crisis of their own, with represent 90% of our revenue. collapse, the company rein - derway to allow for more ar - one in four European hubs Located about 220 kilometres southwest of Madrid, Ciudad Real airport was built to But right now 80% of it is com - vented the hub as a home for rivals, the CEO said, adding that struggling to stave off insol - reduce the high volumes of traffic using the Spanish capital’s main airport ing from parking.” grounded planes, with capacity the hub is profitable. vency without state help, ac - Spain’s passenger traffic was to store as many as 300 With Spanish passneger traf - cording to Airports Council maintain, recycle and stow traffic using Madrid’s main air - down 80% year-on-year in Sep - through a series of renovation fic down 80%, Teruel airport International Europe. planes. France’s Chateauroux port. Yet after investment of tember, and airports such as projects. has capitalised on aircraft stor - Another Spanish beneficiary airport near Paris is another to hundreds of millions of euros, Castellon, on the Mediterranean “When the pandemic hit, age. Ciudad Real’s pivot comes of the excess of grounded have become more focussed on the anticipated demand never cost, and Lleida, in the north - right after the end of the hunt - as more than 8,100 planes sit planes is Teruel airport, 275 storage than travel, even turn - arrived and it was shut down in eastern region of Catalonia, have ing season in February, we re - idle around the world, or 31% kilometres east of Madrid, ing away airlines seeking to 2012, even serving as a movie also started to expand their ceived dozens of requests to of the global fleet, according to which expects revenues to in - store more planes. set for Spanish director Pedro parking and maintenance facili - stow planes,” said Francisco aviation database Cirium. An crease 25% this year in part Located about 220 kilome - Almodóvar. Like other hubs ties. Their combined traffic was Luna, chief executive officer at expected resurgence in inter - due to plane storage. Regional tres southwest of the Spanish that mushroomed across the just 184,000 travellers in 2019, CR International, which bought national travel hasn’t materi - and city authorities own the capital, Ciudad Real was built country during a real-estate while 26 airports recorded more Ciudad Real in 2016. alised, as fresh waves of hub, which was designed to to reduce the high volumes of bonanza in the early 2000s, than one million each. WEDNESDAY 04 NOVEMBER 2020 06 politics

NatioNal surveys and polls of most key states give the former vice president Joe Biden the advantage Americans face stark choice as Election Day 2020 dawns US Presidential election entered its final day with a 98 million ballots already cast Workers board up a store to protect it from damage in possible riots surrounding the US BloomBerg presidential election in New York on November 02 —DPA After lagging in the Election Day 2020 was under - way and for American voters the primaries, the former vice choices couldn’t be more stark. president Joe Biden NYC, Washington Donald Trump was a novelty emerged as a unity four years ago, a reality televi - candidate, portraying sion star and real estate devel - stores boarded up oper with a penchant for himself as a man of bombast and Twitter insults. decency who would listen The 74-year-old president has to scientists fighting the over likely unrest erased any notion that the Oval Office would tame him, thrilling Covid-19 pandemic, BloomBerg Republicans by cutting regula - restore America’s overseas Most midtown Manhattan tions and taxes, restricting im - alliances and confront Temporary extra fencing has storefronts have been migration and appointing three been erected around the White Supreme Court justices. climate change House, plywood affixed to boarded up on Fifth and Joe Biden, 77, passed on a storefronts in Manhattan and Madison Avenues, though chance to run in 2016 but said the National Guard put on no - the mayor said New York Trump’s reaction to racial advantage, but Democrats tice in Portland, Oregon, as US protests in Virginia the follow - scarred by Hillary Clinton’s un - cities braced for possible un - hadn’t advised businesses ing year convinced him to re - An electoral official places a voting sign outside The Coliseum Ballroom ahead of US expected defeat in 2016 have rest on election day. to take such steps turn to politics. After lagging in Presidential election in St Petersburg on Tuesday —DPA taken little solace from their “We don’t see specific re - the primaries, the former vice candidate’s lead. ports or threats at this point,” president emerged as a unity Trump, meanwhile, has called New York Mayor Bill de Blasio of the week or longer. candidate, portraying himself as n Despite the expected record turnout, Americans may the polling “fake news” and told reporters. “We are ready Nearly a dozen organised a man of decency who would not know who will be sworn in next January for days or points to his strong support for all sorts of challenges. A lot protests, assemblies and listen to scientists fighting the within the Republican Party. of preparation has been hap - prayer vigils received permits Covid-19 pandemic, restore weeks if a tight race in battleground states prompt Surveys say he’s lost votes he pening over the last few weeks from the National Park Service America’s overseas alliances judicial challenges over late-arriving ballots had in 2016 among women a and I’m meeting with city offi - for organised actions this and confront climate change. nd the elderly while gaining cials today to continue that week. Multiple permits have The election entered its final strength with some Latino preparation.” been filed with the city for day on Tuesday with a record- n Democrats were encouraged by mail and early-voting groups. “President Trump is Most midtown Manhattan large gatherings as well, in - shattering 98 million ballots al - turnout, which exceeded entire election vote totals in spreading division and discord. storefronts have been boarded cluding an eight-hour demon - ready cast. It’s taking place Hawaii and Texas, but Republicans say their numbers He thinks that he can divide us,” up on Fifth and Madison Av - stration with a giant digital amid a third deadly wave in the Biden said at a rally in St Paul, enues, though the mayor said screen and live music sched - pandemic, warnings about re - will surge on Election Day Minnesota. “We need a presi - the city hadn’t advised busi - uled for election night that may newed foreign interference and dent who will bring us together, nesses to take such steps. draw thousands to the recently a political environment even Biden, joined by wife Jill Polling stations on the US East not pull us apart.” Similar calculations were christened Black Lives Matter more polarised than in 2016, Biden and two granddaughters, Coast started opening at 6 am Despite the expected record being made across the country Plaza across a park from the with both sides warning that a attended a mass on Tuesday at local time. The key states of turnout, Americans may not as a campaign marked by un - White House. vote for the other risks plunging St Joseph on the Brandywine. Florida, Georgia, North Carolina know who will be sworn in next usual rancor and harsh rheto - Unsanctioned protests are the country into ruin. While there, the Democratic and Pennsylvania will be among January for days or weeks if a ric gives way to a final day of almost certain, too, especially in “A vote for Biden is a vote to challenger visited the grave of the first to close, starting at 7 tight race in battleground states voting on Tuesday — followed the wake of the death of Karon hand the keys to government his son Beau, who died in 2015 pm Trump is planning to watch prompt judicial challenges over by a potentially long period of Hylton, a young Black man who over to people who despise you after battling brain cancer. The the results in Washington, while late-arriving ballots. Trump vote counting that will deter - died in a crash on his moped and people who want to rob former vice president has often Biden will be in his home state says Biden can only win mine if President Donald while being followed closely by your children of their American said that he decided to launch a of Delaware. through fraud and has said all Trump receives a second term a police cruiser in the national dream,” Trump told a rally in third presidential bid as a way National surveys and polls of the votes should be counted on or Joe Biden gets sworn in capital on October 23. Security Fayetteville, North Carolina. to carry on his late son’s legacy. most key states give Biden the Tuesday night. come January. staff were erecting temporary In Washington, a likely focus fencing around the White for demonstrations, shops and House and adjacent public other businesses located grounds, much like the security within several blocks of the barrier that the administration White House already closed built to seal off the Ellipse and Eta may Ivorian leader secures third term their doors, with some plan - Lafayette Square during tense wreak havoc The victory strengthens Alassane Ouattara’s authority ning to stay shuttered the rest protests over the summer.

in Central BloomBerg robonds fell for a fourth day, America bringing their decline since the Ivory Coast President Alassane start of October to 115 basis EU mulling next move BloomBerg Ouattara secured a third term points. Cocoa prices fell for a as leader of the world’s biggest fifth day, amid signs of ample Hurricane Eta has cocoa producer in an election supplies from Ivory Coast. over UK’s ‘Brexit bill’ strengthened into one of boycotted by key opposition The run-up to the ballot was the Atlantic’s most power - leaders. marred by sporadic violence BloomBerg ful storms of the year, Ouattara, 78, garnered 94.3% that the government blamed on packing winds of 233 kilo - of ballots, while his nearest rival the opposition, and at least five The European Union (EU) held metres an hour as it roars —independent candidate Koua - people died when the vote took off launching legal action im - towards Central America. dio Konan Bertin — obtained place. That fueled fears the mediately against the UK over The storm, a Category 4 1.99%, the electoral commis - Ivory Coast President country may suffer a repeat of Boris Johnson’s plan to rewrite major hurricane, is ex - sion announced on Tuesday. post-election violence a decade parts of the Brexit divorce deal, pected to dump rain by Voter turnout was 53.9%, com - Alassane Ouattara, 78, ago that left at least 3,000 dead saying it is still considering its the foot on Central Amer - mission head Ibrahime Kui - garnered 94.3% of ballots, or missing. next move. ica after it slams into the biert-Coulibaly said. while his nearest rival — To secure the latest vote, the The bloc had given the UK The EU had given the UK coast of Nicaragua on The scale of the victory authorities deployed 35,000 se - until October 31 to respond to Tuesday, delivering life- strengthens Ouattara’s author - independent candidate curity personnel across the its demand to withdraw parts of until October 31 to threatening storm surges, ity as he faces calls by the Kouadio Konan Bertin — West African country. Wary of the Internal Market Bill that respond to its demand to flash floods and land - opposition for a transitional obtained 1.99%, the any repeat of the 2010 violence, breach the Brexit Withdrawal withdraw parts of the slides, the National Hurri - government to prepare fresh electoral commission Ouattara is expected to act Agreement Johnson struck with cane Center said. elections. His main rivals, Henri firmly if opposition protests the EU last year. A Downing Internal Market Bill that Eta, forecast to dump as Konan Bedie and Pascal Affi announced against his victory flare up, said Street spokesman said the UK breach the Brexit much as 25 inches of rain N’Guessan, have said they’ll re - Ousmane Zina, a political ana - hadn’t replied to the request. Withdrawal Agreement on Nicaragua and Hon - ject the result and have called lyst at Alassane Ouattara Uni - The bloc is now deciding duras, is the Atlantic’s for a civil disobedience cam - tion that didn’t support Ouat - versity in Bouake. “After the whether to issue a “reasoned Johnson struck with the 28th storm of 2020, tying paign, arguing that the constitu - tara to accept the outcome of announcement of the results opinion,” European Commission EU last year a 2005 record for the tion bars Ouattara from serving the vote, the opposition will Ouattara will surely harden his spokesman Daniel Ferrie told most named systems in a more than two terms. have to call for them to do so. As tone and strengthen his author - reporters in Brussels. That single year. So many have “For the stability of the coun - long as they continue to reject ity,” Zina said. Justice Minister would indicate the bloc has con - the UK and EU and put a trade formed that the hurricane try, it would be better if the dif - the results and call for civil Sansan Kambile said he’s asked cluded that the UK broke the deal between the two sides in centre has used up all its ferent parties could open talks disobedience, there’s the risk of the state prosecutor to investi - law and would give the British a jeopardy. But with talks over an official names and has as soon as possible,” said Flan violence.” gate violence perpetrated by last chance to comply before the accord progressing, people resorted to designating Moquer, director of the Abidjan Investors cheered the news of opposition supporters and the matter went to court. close to both sides of the storms with Greek letters. Political Research Center. the result. Yields on Ivory call for a transitional govern - The legislation had threat - negotiations have played down “For the part of the popula - Coast’s $2.5 billion of 2032 Eu - ment, which he said is illegal. ened to sour relations between the threat. Thailand approaches ex-PMs to lead reconciliation panel Protesters are demanding more transparency, accountability for the monarchy and the resignation of the premier

BloomBerg ings for almost three weeks, are The parliament will restart Thailand’s House demanding more transparency the stalled process for charter Thailand may rope in a former Speaker Chuan Leekpai and accountability for the amendment on November 17, prime minister to lead a recon - monarchy, a rewritten constitu - Chuan said on Tuesday. Input ciliation committee proposed has approached at least tion, and the resignation of from the public on the amend - by the parliament to resolve key four former premiers and Prime Minister Prayuth Chan- ment will also be included in the issues raised by pro-democracy representatives of Ocha, who had repeatedly re - discussions, he said. protesters. fused to quit. The political The protesters have broken House Speaker Chuan Leek - several political parties unrest has eroded investor con - long-held taboos about publicly pai has approached at least four to be part of the fidence with the benchmark criticising the royal family, with former premiers and represen - panel, which may also Thai stock index extending demands for the monarch to no tatives of several political par - losses to 23% this year. longer endorse coups, provide ties to be part of the panel, include protest groups While Prayuth has supported transparency in how funds are which may also include protest charter amendment and the for - spent, and the abolition of laws groups. A special parliament mation of the reconciliation that stifle discussion of the royal session proposed the formation adding that he’s still waiting to committee, protest groups have family. While the anti-govern - of the reconciliation committee discuss the issue with Somchai threatened to remain on the ment groups haven’t staged a and designated Chuan, himself Wongsawat. The move to dif - streets until their demands are People gesture during a pro-democracy demonstration at the Tha Phra intersection, held major rally since marching to a former prime minister, to fi - fuse the political tension follows fully met. The suggestions of to demand the resignation of the PM Prayuth in Bangkok on November 02 —DPA the Germany embassy to de - nalise its composition. King Maha Vajiralongkorn’s past reconciliation committees mand a probe into King Vajira - Former prime ministers olive branch to protesters in in Thailand have largely gone ig - The three former premiers Anand was appointed as prime longkorn’s legal status in the Chavalit Yongchaiyudh, Anand which he called Thailand “the nored, including recommenda - who’ve expressed interest in the minister by the junta after the European country, pro-royalist Panyarachun and Abhisit Vejja - land of compromise.” tions issued after the bloody committee have long had con - 1991 coup, and Abhisit faced groups have held demonstra - jiva are willing to support the The protesters, who have crackdown on pro-democracy nections with the royalist camp. street protests that ended with tions, raising fears of clashes be - committee’s work, Chuan said been staging near-daily gather - protesters in 2010. Chavalit is a former army chief, 2010’s deadly suppression. tween the rival gatherings. wednesday 04 november 2020 banking 07

RBA may slash rates China has allowed many borrowers to delay interest and principal payments to March next year to a fresh record low China’s big banks facing debt BloomBerg

Australia’s central bank is expected to cut interest woes after paring profit drops rates to a fresh record low, reduce its three-year yield target and unleash further Net income slid less than 5% at ICBC and its three largest rivals in three months bond buying as it tries to turbo-charge a recovery through September 30, compared with an average 25% slump in prior quarter now that the country is The Reserve Bank of released from lockdown. Australia will cut the cash BloomBerg expires,” said Shujin Chen, Hong The Reserve Bank of Aus - Kong-based head of China tralia (RBA) will cut the cash rate to 0.10% from 0.25% China’s biggest state-owned financial research at Jefferies. rate to 0.10% from 0.25% and set its yield curve banks are still plagued by a surge The Chinese economy ex - and set its yield curve con - control and bank funding in bad loans even as an early panded 4.9% in the third quarter. trol and bank funding facil - containment of the pandemic Yet the growth is uneven as con - ity at the same level, while facility at the same level, and a recovery in the world’s sumer spending remains weaker reinforcing no tightening for while reinforcing no second-largest economy helped than last year and smaller firms three years, economists pre - tightening for three years them trim profit declines. are turning more cautious due to dicted. They also anticipate Net income slid less than 5% a lack of demand. As the world’s purchases of longer-dated at Industrial & Commercial largest exporter, China is also ex - government bonds to nar - Philip Lowe is expected to Bank of China Ltd. (ICBC) and its posed to the deteriorating out - row the differential with de - reduce the rate paid on com - three largest rivals in the three look in the rest of the world amid veloped-world counterparts mercial bank deposits in ex - months through September 30, a resurgence in virus cases. and put downward pressure change settlement accounts compared with an average 25% The China Banking and Insur - on the currency. at the RBA to 0.01% from slump in the prior quarter. Still, ance Regulatory Commission The RBA has come under 0.10%. the four banks saw their com - has given major lenders discre - fire for failing to follow up The RBA moving to a tra - bined non-performing loans Authorities in China have this year required banks to sacrifice 1.5 trillion yuan in profit tion to report earnings declines its initial easing at the ditional quantitative easing climbed to a record 979 billion by providing cheap funding, deferring payments and increasing lending to small firms of about 10%, or less, in the sec - height of market dislocation. program by announcing it yuan after charging 175 billion ond half, compared with over It did expand a bank lending will purchase a set value of yuan on credit impairments in 20% reported by the industry in facility in September, but bonds over a set time period. the quarter, according to reports n China’s four banks saw their combined non-performing the second quarter, people fa - has otherwise stayed on the Reverting to what it did in released late last week. loans climbed to a record 979bn yuan after charging miliar with the matter said in sidelines with modest bond March and April, when the China’s $45 trillion banking October. The relaxation of a June purchases since May. The RBA was buying bonds along industry suffered their worst 175bn yuan on credit impairments in the quarter, directive to rein in profits comes three-year yield has traded the curve to address market profit slump in more than a according to reports released late last week as the banking industry was below its 0.25% target since dysfunction without a set decade in the first half after pushed to its weakest health September on expectations target. This provides maxi - being put on the front-line in since the global financial crisis. of further easing. mum flexibility, an option the helping millions of struggling n China’s $45 trillion banking industry suffered their worst The four biggest banks may With Victoria now emerg - RBA traditionally prefers. businesses hurt by the pan - profit slump in more than a decade in the first half after report about 8% decline in 2020 ing from its second, harsher “Given its first foray into demic. With the virus now con - being put on the front-line in helping millions of struggling combined profit, according to lockdown, the RBA is set to QE, the RBA is likely to opt for tained in China and the economy businesses hurt by the pandemic consensus estimates compiled do more. The central bank a program towards the lower staging a rebound, lenders are by Bloomberg . has maintained it was better end of a A$100–180 billion being allowed to shift to more Banking stocks have re - to deploy additional stimu - range,” said Su-Lin Ong, head prudent loan growth and risk firms expires in the first quar - small firms. Lenders led by ICBC bounded almost 10% last lus when doing so would of Australian economic and management to beef up financial ter,” said Liao Zhiming, a chief have offered a record 16.3 tril - month on better-than-expected gain maximum traction. fixed-income strategy at the strength after bad debts bal - banking analyst at Tianfeng Se - lion yuan of new loans and for - earnings outlook with China In - “The recovery is unlikely Royal Bank of Canada. looned and capital level eroded. curities Co. “But overall the sec - gone 1.1 trillion yuan in ternational Capital Corp. pre - to be robust enough to Experience shows QE pro - As part of the pandemic re - tor’s earnings prospect is earnings in the first nine dicting banking shares traded in achieve the RBA’s policy grams “are almost always sponse, China has allowed many improving and I think the worst months, official data showed. Shanghai and Hong Kong to goals,” said James McIntyre, upsised,” Ong added. State borrowers to delay interest and is over for state banks.” Banks’ bad loan ratio will sta - have more than 60% upside po - Australia economist at and territory government principal payments to March Authorities have this year re - bilise in the next two quarters tential. Their valuation remains Bloomberg Economics. “With bonds “are likely to be part next year, which is hiding the quired banks to sacrifice 1.5 tril - considering “improved NPL for - cheap after the rally, with the a sluggish demand outlook of any QE program,” she said. true sense of the bad debt bulge. lion yuan in profit by providing mation and significant write- four biggest banks trading at and a weak labor market The governor said in a “Bad loans may still rebound cheap funding, deferring pay - offs, but it may increase in 2Q21 about 0.44 times their forecast justifying further policy sup - question-and-answer ses - as the payment holiday for small ments and increasing lending to when the payment holiday book value. port, it’s difficult for the RBA sion last month that Aus - to make a case to hold back.” tralia’s 10-year yield was As part of lowering bor - much higher than devel - rowing costs, Governor oped-world counterparts. Pound slips to JPMorgan raises stake in weakest level ‘Biggest US banks aren’t China securities JV to 71% in a month The US-based lender bought a 20 percent stake put up for BloomBerg as strong as they appear’ The pound declined to the sale by Shanghai Waigaoqiao FTZ for around $27 million weakest level in a month on BloomBerg concern a lockdown across BloomBerg England would deal a painful The largest US banks are less blow to an economy already healthy than they appear, JPMorgan Chase & Co. raised reeling from similar measures boosted by temporary account - the stake in its Chinese securi - earlier this year. ing and capital-relief measures ties joint venture to 71%, tak - Sterling fell as much as 0.7% as well as massive market sup - ing a step closer to becoming to $1.2855, the lowest since port from the Federal Reserve, the first foreign bank to attain October 7, after Prime Minister an advocacy group said. Regulators have allowed full ownership of a firm as the Boris Johnson announced the Although the six biggest banks to delay the hit to country opens its $50 trillion month-long restrictions amid banks’ leverage ratios reported their capital ratios from financial market. concern that the coronavirus is at the end of June averaged al - The bank bought a 20% stake spreading rapidly. most 2 percentage points above billions of dollars in put up for sale by Shanghai Bloomberg Economics said the regulatory minimums, the loan-loss provisions Waigaoqiao FTZ for 177.7 mil - the second lockdown will actual average would have been they’ve put aside this year lion yuan ($26.6 million), ac - mean the economy contracts only 0.84 percentage points cording to information posted JPMorgan’s China securities venture was ranked last by assets as well as revenue in in the fourth quarter and that above without the relief meas - on Shanghai United Assets and 2019 among 98 firms tracked by Securities Association of China the BOE will increase its asset ures, Americans for Financial continue paying dividends, ac - Equity Exchange. The transac - purchase target this week by Reform said in a report. cording to the advocacy group. tion was completed on October profits to chase in the world’s possibly more than the $129 Regulators have allowed “We’re not in a 2008 situa - 23. JPMorgan couldn’t immedi - After years of only allowing most populous nation. Gold - billion previously forecast. The banks to delay the hit to their tion where major banks are ately be reached for a comment. man Sach’s President John Wal - central bank will decide on capital ratios from billions of facing collapse, but we’re going After years of only allowing global banks to hold dron said last month it will policy on November 5, the dollars in loan-loss provisions into an uncertain future due to global banks to hold minority minority stakes in Chinese apply for 100% ownership of same day the latest lockdown they’ve put aside this year. Mas - the pandemic, and the big stakes in Chinese ventures, Bei - ventures, Beijing this year its Chinese securities venture measures come into effect. sive increases in their holdings banks aren’t in as good a shape jing this year gave the green- as soon as further guidance is Despite the decline, the of cash and Treasuries are also as they appear,” Marcus Stan - light for Wall Street and gave the green-light for released. pound could rise into end of temporarily excluded from the ley, policy director at Ameri - European rivals to take full Wall Street and European JPMorgan’s China securities week — particularly if Demo - calculation of the leverage ratio, cans for Financial Reform, said ownership in the country. With rivals to take full ownership venture was ranked last by as - cratic nominee Joe Biden which has become the binding in an interview. full control, the banks will be in the country sets as well as revenue in 2019 emerges victorious in US pres - constraint for the largest banks In addition to the accounting able to better set strategy and among 98 firms tracked by Se - idential election, said Jordan during the pandemic. and capital-relief measures, the direct capital in a push into curities Association of China. Rochester, a currency strategist Even if firms wouldn’t be on banks have also benefited from China’s vast financial market. and office space and expanding The Shanghai-based entity at Nomura International Plc. the precipice of insolvency with - the Federal Reserve’s unprece - Firms such as JPMorgan, in everything from futures and posted a loss of 85.9 million He sees sterling potentially ris - out the support measures, the dented intervention in capital Goldman Sachs Group Inc. and brokerages to asset manage - yuan last year, the association’s ing as high as $1.35, a gain of allowances have let most banks markets, the organisation said. UBS Group AG are adding staff ment with billions in potential data showed. nearly 5%, by the weekend. Westpac profit falls on bad debts, record laundering fine Cash earnings at the Sydney-based bank declined 62% to $1.8 billion in the 12 months ended September 30

BloomBerg challenging year and our finan - group Inc. analysts led by Bren - cial result is disappointing,” Australia’s banks are bearing dan Sproules wrote in a note to Westpac Banking Corp.’s full- Chief Executive Officer Peter the brunt of the nation’s first clients. “While core earnings year profit plunged after the King said in the statement. “Our were soft, the business enters lender was hit with a record earnings have been significantly recession in almost 30 fiscal 2021 on a much stronger fine for breaching anti-money impacted by higher impairment years, and mounting costs footing and with a number of laundering laws, and the charges, increased notable to clean up years of legacy issues having been re - coronavirus-induced recession items and the sharp decline in solved, in order to regain lost swelled bad-debt charges. economic activity.” misconduct, such as selling momentum.” Cash earnings fall 62% to The result adds to an already junk insurance and providing King, who delayed his retire - A$2.61 billion ($1.8 billion) in ugly earnings season for Aus - poor financial advice ment to steady the ship when the 12 months ended Septem - tralia’s banks, which are bearing Hartzer left, has agreed to stay ber 30, the Sydney-based bank the brunt of the nation’s first re - on beyond his initial two-year said in a statement. cession in almost 30 years, and predecessor Brian Hartzer. term and commit to the multi- The results include a previ - mounting costs to clean up “We are moving back to core year effort to turn the company ously disclosed A$1.2 billion years of misconduct, such as Bad-debt provisions at Westpac Banking Corp increased A$3.2 billion as the recession banking with a sharper focus on around. charge for the laundering fine selling junk insurance and pro - smashes consumers and businesses Australia and New Zealand,” Westpac declared a A$0.31 and the mounting cost of com - viding poor financial advice. King said. “The simplification of per share final dividend, having pensating wrongly treated cus - Australia & New Zealand Bank - that lacked scale or returns — vendor finance arm and is our business will support im - previously scrapped its first-half tomers. Bad-debt provisions ing Group Ltd. last week posted such as insurance and wealth shrinking its international oper - proved returns and help pave payout to preserve capital. The increased A$3.2 billion as the a 42% decline in full-year profit management — that were ations as King tries to simplify the way for a reset of our cost nation’s three other big banks recession smashes consumers and slashed its dividend. placed into a specialist division the bank and restore its reputa - base.” have also reduced dividends, a and businesses. The bank said it had “made earlier this year with a view to tion after the money-laundering “We had called out fiscal 2020 blow for Australia’s legion of “2020 has been a particularly progress” in reviewing units sell them. It’s agreed to sell its scandal led to the departure of as the ‘bad news year’,” Citi - mom and pop shareholders. wednesday 04 november 2020 08 stock markets

Hedging equity risk Equity markets in Beijing, Hong Kong, Australia and South Korea all surged more than 1% could stay costly as usual havens misfire Stocks gain with US futures Contracts on S&P 500, Dow Jones Industrial Average signalled underlying gauges will add to earlier gain, clawing back some of their tumbles last week

BloomBerg fore the October jobs report on Friday. Elsewhere, oil held gains Stock markets climbed globally after jumping the most in three for a second day along with US weeks on Monday on increasing futures hours before the Amer - signs Opec+ will delay a ican presidential election. planned easing of output cuts. The S&P 500’s 5.6% drop last week shows “markets are bracing for the fear of Currency traders braced for The Stoxx Europe 600 Index the unknown” and “whittling down rich positions to hold cash increased volatility. gained 1.1% as of 8:21 am Lon - Bank shares including BNP don time and futures on the S&P BloomBerg Paribas SA advanced after the 500 Index climbed 0.7%. Volatility in Indian stocks French lender joined European While Nasdaq 100 Index fu - Hedging exposure to the has climbed to its highest peers in posting lower-than-ex - tures advanced 0.4%, the MSCI S&P 500 index via options is level since mid-July, pected bad-loan provisions Asia Pacific Index increased going to remain costly yet and may surge further on from the pandemic. Equity mar - 0.9%. The Bloomberg Dollar vital next year due to the kets in Beijing, Hong Kong, Spot Index decreased 0.4% and pandemic and relative lack the back of the US election Australia and South Korea all the British pound climbed 0.3% of protection from tradi - and a Fed meeting surged more than 1%. Currency traders are bracing for increased volatility amid coronavirus pandemic to $1.2959. tional havens, Tallbacken Contracts on the S&P 500 and While the Japanese yen Capital Advisors LLC said. Dow Jones Industrial Average strengthened 0.1% to 104.59 “Vaccine volatility” is already so low, potentially signalled the underlying gauges n Bank shares including BNP Paribas surge after the per dollar, the Taiwanese dollar likely because of the wind - making options-market will add to Monday’s gain, claw - was little changed at NT$28.92 ing paths ahead to the even - strategies more important ing back some of their tumbles French lender joined European peers in posting per US dollar. tual introduction of an for hedging equity risk. last week. Treasuries slipped lower-than-expected bad-loan provisions The yield on 10-year Treasur - inoculation or other thera - While stocks can still climb along with a gauge of the dollar. ies gained two basis points to pies, according to Tall - against a background of un - A measure of expected 0.86% and Germany’s 10-year backen CEO Michael Purves. certainty caused by out - swings in China’s currency rose n A measure of expected swings in China’s currency rose yield increased two basis points That means strategies such break, “market hedging is all to the highest in more than nine to the highest in more than nine years as traders hedged to -0.62%. While Britain’s 10- as buying put options on the the more important given years as traders hedged against against a volatile yuan after the US election year yield increased two basis US equity gauge “can con - that traditional safe havens a volatile yuan after the US elec - points to 0.237%, New tinue to be a very expensive are not working the way they tion. Overnight gauges for other Zealand’s 10-year yield fell one proposition,” he said. usually do,” Purves said. currencies, such as the Aus - Polls continue to tell them that Financial. “The question is, is basis point to 0.553%. “The magical disappear - The cost of seeking such tralian dollar and sterling, Democratic nominee Joe Biden the market right now looking at West Texas Intermediate ance of Covid is not a binary protection climbed ahead of also jumped as the vote and its is ahead, though the race re - a Biden victory? And will it be crude gained 1.9% to $37.50 a event, but a process,” he the election on fears of a aftermath loomed. mains tight in some battle - disappointed if we don’t have barrel and gold was little wrote in note. “The longer drawn-out or contested re - Investors are showing a bit ground states, some of which that?” changed at $1,895.06 an ounce. this process continues, the sult. Purves’s argument sug - more optimism as they face the are seeing virus cases soar. Once the US election passes, While soybeans jumped 1.1% to more sustained economic gests investors expecting possibility of a contested elec - “It’s pretty much a binary out - investors will contend with the $10.64 a bushel, iron ore de - uncertainty will be.” the situation to normalize tion outcome that produces no come,” said Quincy Krosby, chief Federal Reserve delivering a clined 1.5% to $112.77 per Some investors are vexed rapidly after the vote may clear winner for some time. market strategist at Prudential policy decision on Thursday be - metric ton. by the performance of usual face disappointment. portfolio stabilizers such as Some investors may have Treasuries or gold. Rather already shifted towards cash, than providing a hedge, both worn down by the election have fallen amid a two- and escalating pandemic. India stocks track regional peers higher month tumble in the S&P 500 The S&P 500’s 5.6% drop from a record that coincided last week shows “markets BloomBerg Swings in stock prices are set Abhimanyu Sofat, head of re - tinue, Sun Pharmaceuticals Ltd. with failed US fiscal stimulus are bracing for the fear of the to ease for the first day in five search at IIFL Securities Ltd. in and Adani Ports and Special talks, uncertainty ahead of unknown” and “whittling India stocks tracked Asian peers after a measure of volatility Mumbai. Economic Zone Ltd. are due to the presidential election and down rich positions to hold higher ahead of the US election. touched its highest level in three Volatility in global markets, report results. accelerating virus cases. cash,” according to a note The S&P BSE Sensex climbed months after climbing for four driven by fresh lock-downs in The yield on the benchmark In one view, US sovereign from Vishnu Varathan, head 0.8% to 40,067.14 as of 10:04 days. Europe and the US election had 10-year government bond was debt doesn’t offer the buffer of economics and strategy at am in Mumbai, while the NSE “A clear verdict in the US elec - overshadowed early signs of an little changed at 5.89% while it once did because yields are Mizuho Bank Ltd. Nifty 50 Index advanced by the tion on either side would be economic recovery in India. the rupee strengthened 0.2% to same magnitude. taken well by the market,” said As quarterly earnings con - 74.3150 against the US dollar.

Daily Financials As of 2020-Nov-03 Generated on 2020-Nov-03 17:37

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 6.97889E+11 61062828088144220000.8726E+11 20734364744 27 9144347,856, 630.83630.8392,232, 071 2,889 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, 5.680 8.150 3.82042,009, 259.70 7,265, 210.00 352 (0.070) (1.22) 6,957,379,354.00 39,517,914,730. 72 Abu Dhabi Islamic Bank A1.00000,000DIB 3,632, 4.390 5.850 3.19030,139, 355.65 6,909, 755.00 349 0.090 2.09 3,632,000,000.00 15,944,480,000. 00 Bank of Sharjah B1.00000,000OS 2,100, 0.510 0.830 0.507204,000. 00 400,000. 00 4 0.003 0.592,100,000,000. 00 1,071,000,000. 00 Commercial Bank International C1.00383,050BI 1,737, 0.730 0.966 0.635 1,737,383,050.00 1,268,289,626. 50 Finance House FH 1.00310,049, 961 1.590 1.620 1.400 310,049,961.00 492,979, 437.99 Invest Bank I1.00982,143NVESTB 3,180, 0.440 1.830 0.430 3,180,982,143.00 1,399,632,142. 92 First Abu Dhabi Bank FA1.00000,000B 10,920, 11.500 15.920 7.78076,302, 554.88 6,608, 947.00 394 0.080 0.7010,920,000,000. 00 125,580,000,000. 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 0.950177,240. 00 152,500. 00 5 (0.010) (0.85) 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 39,420,950,234 148,832,410.23 21,336, 412.00 1,104 39,420,950,234.00 209,875,055,090. 06 Index ADBF Index Open 7,626.25 Index Close 7,661.22 Index Change 37.63 Index Change % 0.49 Traded 5 Declined 2 Advanced 3 Unchanged 0 Sector Capitalization 2.09875E+11 Insurance Symbol Face Val (AED) Issued Shares Last Close High 52 Low 52 Value (AED) Volume Trades Change Change % Paid Up Capital (AED) Market Cap. (AED) United Fidelity Insurance Company (P.ES.CC)) F1.00000IDELITYUNIT 100,000, 2.000 100,000,000.00 200,000, 000.00 Union Insurance Company U1.00180NION 330,939, 0.550 0.783 0.510 330,939,180.00 182,016, 549.00 National Takaful Company (Watania) WWAATANIA 1.00150,000, 000 0.980 1.080 0.450 150,000,000.00 147,000, 000.00 Sharrjajah Insurance Company S1.00000ICO 137,500, 2.110 2.700 2.110 137,500,000.00 290,125, 000.00 Abu Dhabi National Takaful Co. T1.00000KFL 100,000, 6.180 6.5006.500 2.740 100,000,000.00 618,000, 000.00 Insurance House IH1.00500118,780, 0.808 0.8080.808 0.80868,680. 00 85,000. 00 2 (0.042) (4.94) 118,780,500.00 95,974, 644.00 Methaq Takaful Insurance Compnay M1.00000ETHAQ 150,000, 0.850 0.911 0.4786,882, 627.42 8,135, 783.00 221 0.031 3.79 150,000,000.00 127,500, 000.00 Ras Alkhaima National Insurance Co.CRA1.00000KNI 121,275, 3.450 3.450 2.000 121,275,000.00 418,398, 750.00 AXA Green Crescent Insurance ComppCany PJSC A1.00000XAGCI 200,000, 0.700 0.740 0.323 200,000,000.00 140,000, 000.00 Al Dhafra Insurance Co. D1.00000HAFRA 100,000, 3.5503.550 3.000 100,000,000.00 355,000, 000.00 Emirates Insurance Co. EIC 1.00150,000, 000 7.0008.100 6.510490,000. 00 70,000. 00 5 0.000 0.00150,000, 000.00 1,050,000,000. 00 Al Wathba National Insurance Co. A1.00000WNIC 207,000, 9.290 9.400 9.290 207,000,000.00 1,923,030,000. 00 Al Khazna Insurance Co. A1.00000KIC 420,000, 0.2380.238 0.238 420,000,000.00 99,960, 000.00 Al Ain Alahlia Insurance Co. A10.00000LAIN 15,000, 35.16037.000 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, 4.0004.000 2.700 570,000,000.00 2,280,000,000. 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 7,441,307.42 8,290, 783.00 228 3,376,494,680.00 9,201,375,243. 00 Index ADII Index Open 1,980.53 Index Close 1,982.79 Index Change 1.20 Index Change % 0.06 Traded 3 Declined 1 Advanced 1 Unchanged 1 Sector Capitalization 9201375243 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, 4.300 4.600 2.5001,787, 342.08 409,411. 00 21 0.050 1.18 600,000,000.00 2,580,000,000. 00 FOODCO Holding Company F1.00000OODCO 120,000, 2.990 3.360 2.750 120,000,000.00 358,800, 000.00 Ras Al Khaimah Poultry & Feeding CoO. RA1.00000PC 86,400, 1.400 1.420 1.290 86,400,000.00 120,960, 000.00 Total 806,400,000 1,787,342.08 409,411. 00 21 806,400,000.00 3,059,760,000. 00 Index ADCM Index Open 8,982.29 Index Close 8,893.86 Index Change 88.44 Index Change % 1.00 Traded 1 Declined 0 Advanced 1 Unchanged 0 Sector Capitalization 3059760000 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, 1.7301.800 1.350 785,862,000.00 1,359,541,260. 00 National Marine Dredging Co. N1.00000MDC 250,000, 5.050 6.250 2.900 250,000,000.00 1,262,500,000. 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, 12.860 15.740 7.960 89,786,400.00 1,154,653,104. 00 Abu Dhabi Aviation Co. A1.00200DAVIATION 444,787, 3.150 3.530 2.520 444,787,200.00 1,401,079,680. 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 3,269,351,694.00 9,136,248,543. 02 Index ADID Index Open (1.00) Index Close 2,525.65 Index Change 0.00 Index Change % 0.00 Traded 0 Declined 0 Advanced 0 Unchanged 0 Sector Capitalization 9136248543 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, 2.640 2.920 1.35077,931, 805.54 29,191, 764.00 508 (0.040) (1.49) 7,862,629,603.00 20,757,342,151. 92 RAK Properties RA1.00000,000KPROP 2,000, 0.388 0.470 0.327379,411. 31 996,989. 00 12 0.000 0.002,000,000,000. 00 776,000, 000.00 Sharrjajah Group SG 1.0078,901, 086 0.8500.850 0.770 78,901,086.00 67,065, 923.10 Total 9,941,530,689 78,311,216.85 30,188, 753.00 520 9,941,530,689.00 21,600,408,075. 02 Index ADRE Index Open 4,043.20 Index Close 3,985.75 Index Change (57.45) Index Change % (1.42) Traded 2 Declined 1 Advanced 0 Unchanged 1 Sector Capitalization 21600408075

n s %

n 8 %

s

t r e a