Optimism has suddenly come on strong these past few weeks as battered markets stage what look like recoveries. Here's a list pulled quickly from Bloomberg of how the top global markets have done YTD (the UAE isn't far behind - the MSCI's index for the country is up by around 32 per cent since February, though its YTD figure isn't so good):
Peru: +57%
Brazil: +46%
Jakarta: +44%
Shanghai: +42%
Taiwan: +42%
Russia: +40%
Chile: +30%
Norway: +28%
Venezuela: +26%
Hang Seng: +24%
The numbers look excellent, both in these emerging economies and the more developed ones. Just recently, the S&P 500 went into the black for 2009. Crazy. There have also been a bunch of positive stories on the global economy of late:
Bernanke: "pace of contraction may be slowing"
Fed's Yellen: there is a "basis for optimism"
Two US economic indicators turn positive
Australian central bank doesn't lower interest rates
US mutual funds are seeing positive fund flows
Still, we've got a long way to go. A rise in stock prices,
expressed in percentage terms, has to be twice as big as the previous
decline for a full recovery to take place. If you lose 50 per cent, you
have to gain 100 per cent to get back to zero. We ain't there just yet, but the recent good news definitely comes as a welcome reprieve.
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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Jigra
Starring: Alia Bhatt, Vedang Raina, Manoj Pahwa, Harsh Singh
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Sholto Byrnes on Myanmar politics
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Key figures in the life of the fort
Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.
Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.
Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.
Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.
Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.
Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.
Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.
Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.
Sources: Jayanti Maitra, www.adach.ae
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
The specs
Engine: 0.8-litre four cylinder
Power: 70bhp
Torque: 66Nm
Transmission: four-speed manual
Price: $1,075 new in 1967, now valued at $40,000
On sale: Models from 1966 to 1970
COMPANY PROFILE
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
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COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
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