The week in money

$288 billion

The amount of withdrawals US-based actively managed stock funds suffered year-to-date to November, the largest on record, according to Thomson Reuters Lipper service. The figure tops outflows of US$139 billion in 2015 and $218bn in 2008. On the passive side, stock index mutual funds and equity exchange-traded funds each attracted about the same amount of new cash, more than $112bn billion apiece in 2016, Lipper said.

Abu Dhabi, Dubai rent and house prices decline slows

The latest data on the Dubai and Abu Dhabi property markets shows that in the two years to November, prices and rents have declined 12 per cent and 8 per cent and 4 per cent and 6 per cent, respectively. The figures from ReidIn, released on Tuesday, also show that the rate of that decline has slowed in the year to November, with Dubai prices flat and rents only 6 per cent lower while in Abu Dhabi prices and rents are only 2 per cent and 3 per cent lower over the period.

Motor insurance premiums set to rise next year

New regulations putting a floor on how low premiums can go will mean that motor insurance will be more expensive in 2017, compareit4me.com said. According to an analysis of its site, 30 per cent of saloon drivers currently pay less than the new minimum premium rate of Dh1,300 and 43 per cent of SUV drivers currently pay less than the minimum premium rate of Dh2,000.

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There is no question of a retreat

Indian Prime Minister Narendra Modi in his monthly radio address on Sunday defended demonetisation, which he has billed as an attempt to fight corruption

Short selling to be allowed on Abu Dhabi stock market

The Abu Dhabi Securities Exchange (ADX) said on Monday it plans to allow brokers next year to practice technical short selling in a restricted and gradual manner to boost liquidity and attract foreign investors. “This service is part of continuing efforts to modernise, enlarge and upgrade the market,” said Rashed Al Baloushi, the chief executive of ADX.

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