Business

Tesla stock has been on fire. Shares are up more than 190% from 2019 lows, leaving investors to wonder what’s next for the electric-vehicle pioneer. On Wednesday, Tesla reported a profit for the final quarter of 2019 — its second quarterly profit in a row. The stock doubled since Oct. 23, the day before it jumped more than 17% on an earnings-fuelled gap up. The main achievement is, according to Gulf Brokers, that TESLA sold 367,500 cars in total in 2019 — more than it sold in 2018 and 2017 together.

It is well-known that usually for investments significant capital is required as well as the fulfillment of various requirements and restrictions.

Saudi Aramco’s initial public offering has drawn total bids of 166bn Saudi riyals ($44.3bn) so far from institutional and retail investors, about 1.7 times the amount the government is seeking to raise.

Abu Dhabi Securities Exchange (ADX) has given approval for Pattern Day Trader (short-term trading) earlier this week. The product is available for customers through brokerage firms licensed by ADX and the Securities and Commodities Authority (SCA) based on laws set by said authorities to protect investors.

After Turkey also India is to be joining Russia's Rouble-based alternative to SWIFT. Together with China, which is already linked, these countries could create the widest demographic area using the system. According to Gulf Brokers analysis, the dominance of the U.S. dollar is to be challenged.

Dubai’s non-oil trade with Africa will exceed AED 1 trillion for the period extending from 2011 until the end of 2019, asserted His Excellency Majid Saif Al Ghurair, Chairman of Dubai Chamber, noting that it had already reached AED926 billion in the 2011-2018 period.