Global equities retreat in sell-off



Shares in the Arabian Gulf retreated in line with a global equities sell-off, on investor doubts over the prospects of president Donald Trump’s pro-business policies.

Stocks across Asia and Europe fell after the S&P fell 1.2 per cent on Tuesday, the index’s sharpest drop since October 11. The Nikkei tumbled 2.1 per cent, while the Euro Stoxx 50 was about 0.5 per cent lower in afternoon trade.

The US sell-off followed concern over mounting obstacles to Mr Trump’s policy agenda, notably the repeal of the Affordable Health Care Act. Fut­ures markets predicted a lower opening for US markets.

Oil prices, meanwhile, fell for a third consecutive day as US inventories continued to climb. Brent crude futures fell as low as US$50.05, their lowest level since late November.

Shares in Saudi Arabia led losses across the Arabian Gulf. The Tadawul closed 1.1 per cent lower, its third consecutive negative close, with Sabic and NCB the main decliner.

Trading in the UAE remained subdued, with investors content to sit on the sidelines in the absence of clear catalysts.

Shares in Dubai closed down 0.6 per cent at 3,474.73, dragged lower by Dubai Islamic Bank and Emaar Malls. Emirates NBD and DXB Entertainments were the pick of just four gainers.

The Abu Dhabi Securities Exchange General Index finished the day 0.7 per cent lower at 4,481.89, with FGB and Etisalat weighing on stocks.

Kuwaiti shares were the clear winners across the region, climbing by 2 per cent thanks to gains by Eyas for Higher & Technical Education and National Petroleum Services.

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Keane on …

Liverpool’s Uefa Champions League bid: “They’re great. With the attacking force they have, for me, they’re certainly one of the favourites. You look at the teams left in it - they’re capable of scoring against anybody at any given time. Defensively they’ve been good, so I don’t see any reason why they couldn’t go on and win it.”

Mohamed Salah’s debut campaign at Anfield: “Unbelievable. He’s been phenomenal. You can name the front three, but for him on a personal level, he’s been unreal. He’s been great to watch and hopefully he can continue now until the end of the season - which I’m sure he will, because he’s been in fine form. He’s been incredible this season.”

Zlatan Ibrahimovic’s instant impact at former club LA Galaxy: “Brilliant. It’s been a great start for him and for the club. They were crying out for another big name there. They were lacking that, for the prestige of LA Galaxy. And now they have one of the finest stars. I hope they can go win something this year.”

Gertrude Bell's life in focus

A feature film

At one point, two feature films were in the works, but only German director Werner Herzog’s project starring Nicole Kidman would be made. While there were high hopes he would do a worthy job of directing the biopic, when Queen of the Desert arrived in 2015 it was a disappointment. Critics panned the film, in which Herzog largely glossed over Bell’s political work in favour of her ill-fated romances.

A documentary

A project that did do justice to Bell arrived the next year: Sabine Krayenbuhl and Zeva Oelbaum’s Letters from Baghdad: The Extraordinary Life and Times of Gertrude Bell. Drawing on more than 1,000 pieces of archival footage, 1,700 documents and 1,600 letters, the filmmakers painstakingly pieced together a compelling narrative that managed to convey both the depth of Bell’s experience and her tortured love life.

Books, letters and archives

Two biographies have been written about Bell, and both are worth reading: Georgina Howell’s 2006 book Queen of the Desert and Janet Wallach’s 1996 effort Desert Queen. Bell published several books documenting her travels and there are also several volumes of her letters, although they are hard to find in print. Original documents are housed at the Gertrude Bell Archive at the University of Newcastle, which has an online catalogue.
 

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MATCH INFO

Manchester City 1 Chelsea 0
De Bruyne (70')

Man of the Match: Kevin de Bruyne (Manchester City)

From Europe to the Middle East, economic success brings wealth - and lifestyle diseases

A rise in obesity figures and the need for more public spending is a familiar trend in the developing world as western lifestyles are adopted.

One in five deaths around the world is now caused by bad diet, with obesity the fastest growing global risk. A high body mass index is also the top cause of metabolic diseases relating to death and disability in Kuwait,  Qatar and Oman – and second on the list in Bahrain.

In Britain, heart disease, lung cancer and Alzheimer’s remain among the leading causes of death, and people there are spending more time suffering from health problems.

The UK is expected to spend $421.4 billion on healthcare by 2040, up from $239.3 billion in 2014.

And development assistance for health is talking about the financial aid given to governments to support social, environmental development of developing countries.

 

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