Finance World

Bahrain’s headline real growth rate increased sharply in the second quarter of 2018 to an annual rate of 2.4%. The data published in the Bahrain Economic Quarterly Report (BEQ), produced by the Bahrain Economic Development Board (EDB), shows a significant acceleration of growth from the previous quarter. This rebound was underpinned by both the normalisation of oil production and markedly faster non-oil growth.

UPS (NYSE:UPS) today announced third-quarter diluted earnings per share of $1.73, up more than 20%, and adjusted, diluted earnings per share of $1.82, up 26%.

The Central Bank of the United Arab Emirates announced that it will introduce into circulation, on Tuesday 30/10/2018, a currency note of AED One Hundred (AED100) denomination, reprinted with new security features, all on the front side of the   note as follows:

The trading activity in the UAE markets ended on a negative note, as both Dubai and Abu Dhabi closed lower by 0.4% and 0.5%, respectively for the day. Investors are awaiting earnings announcement from leading corporates to gauge the economic environment and accordingly position themselves in both the indexes. On a YTD basis, Dubai stands as the worst performing index in the region with losses of 19.4%, while Abu Dhabi is the second-best performing index with gains of 10.8%.

Commodities remained exposed to broad-based selling this past week. For a third consecutive week, the sector struggled to put up a defence against the challenging combination of rising US interest rates, a strong dollar and the global equity rout, which has now spread to the US market.