Finance World

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.

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.

The average expat will spend just seven years in the UAE. While this might not seem very long, with financial discipline, committed saving plans and smart investment products it is enough time to realise their dreams of becoming a millionaire.

With 1.8 billion Muslims in the world and an Islamic economy - which complies with Islamic laws – growing, John Defterios reports that Dubai is positioning itself as the global capital of the Islamic economy.

Leaving a troubled summer behind

We are emerging from a particularly eventful summer in the markets. We have seen the Argentine peso tumble, falling 50% year-to-date together with the Turkish lira which lost 38% of its value against the greenback, provoking a deep sell-off in sovereigns of these countries. Although things appear to have started to stabilise again, the reality remains alarming. Turkish political uncertainty continues to daunt investors, while in Argentina the $57.1 billion credit line provided by the International Monetary Fund may not be enough to pull the country out of its political and economic difficulties.