Finance World

Fisch Asset Management and S&P Dow Jones Indices today addressed the GCC’s shifting Fixed Income index landscape, at a seminar hosted by the Gulf Bond and Sukuk Association (GBSA). The Zurich-based asset manager and the global benchmark provider highlighted historic and emerging index trends, along with their impact on GCC and broader EM bond markets.

Commodities received a late boost after the Opec+ group managed to agree to a decent output cut; gold, meanwhile, received a bid following a weak US jobs report. The market’s overall focus stayed with the US-China trade war and the increased prospect of a US slowdown.

ENBD REIT (CEIC) Limited (“ENBD REIT”), the Shari’a compliant real estate investment trust managed by Emirates NBD Asset Management Limited, has announced its Net Asset Value for the 6-month period ended 30th September 2018. ENBD REIT’s NAV stood at USD 285 million (USD 1.12 per share), compared with USD 289 million in the previous quarter, as a result of valuation losses driven by soft real estate market conditions. The Board of Directors has proposed to pay an interim dividend of USD 0.0270 per share from the net rental income generated during the period, subject to approval by shareholders of a Reduction of Capital at the General Meeting on 27th November 2018.

A digital currencies wallet and trading platform which offers an additional cash deposit service today launched in the UAE.

Bitex UAE offers customers multiple cryptocurrencies including Bitcoin, Ethereum, Litecoin and Bitcoin Cash at competitive rates for buying, selling and trading.

The Bloomberg Commodity Index, which tracks a basket of major commodities within the three major sectors of energy, metals and agriculture, was on track to show its first weekly rise in six. Gains in energy and metals, both industrial and precious metals helped offset losses in agriculture commodities.