Colors: Orange Color

A tumultuous first trading week of 2019 headed towards a calmer close. After hitting a 33-months low the Bloomberg Commodity Index managed to climb to record its first weekly gain in five. The global market rout was caused by economic and political uncertainty as well as tightening liquidity paused on Friday after Beijing confirmed that a US trade delegation would visit on January 7- 8.

Emirates NBD, a leading bank in the region has announced the launch of a new VAT-based enhanced loan solution for small and medium-sized enterprise (SME) customers.

The new loan program makes it easier for SMEs to apply for financing by providing copies of their VAT (Value Added Tax) returns filed with the UAE’s Federal Tax Authority to serve as validation of business turnover and income.

The strong beginning to 2019 across financial markets and commodities has extended into its third week. Dovish comments from the US Federal Open Market Commission, rate and tax cut announcements from China, and raised expectations of a breakthrough in the trade talks between the two have all helped fire up the markets so far this month.

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