Global equity markets remain in recovery mode after recent bouts of extreme volatility as investors await the release of US inflation data this week that would underpin the health of the world's largest economy.
Markets in Asia continued to rise on Monday, carrying momentum forward from the last week.
MSCI's broadest index of Asia-Pacific shares rose 0.47 per cent at 11:02am UAE time, with stocks in Hong Kong gaining and China remaining broadly unchanged. India's main stocks measure gained 0.2 per cent.
Investors are seeking clues to the direction the US Federal Reserve will take on rate cuts when it meets in September. The US consumer data release on Wednesday will help the Fed determine the course of action and will also dictate the stock market.
“Markets will be looking for this week’s release of the July inflation print for the US for any more signals on what the Fed will do when it meets in mid-September,” Edward Bell, head of market economics at Emirates NBD, said.
Stocks in the US, Asia and Europe have taken a breather after investors experienced a white-knuckle ride after disappointing job market data triggered fears of a recession in the US.
Asian markets took cues from a sharp decline in US stocks and suffered their heaviest single-day losses since 2008, with Japanese stocks plunging more than 12.4 per cent to their steepest sell-off since the 1987 Black Monday crash.
With the S&P 500 index, the Dow and the Nasdaq suffering their biggest losses in two years during the week beginning August 5, Wall Street's fear gauge, the CBOE Volatility Index, rose to its highest level since March 2020.
The gauge has now come off its early days of Covid-19 pandemic highs.
“Markets have endured substantial volatility in the last few weeks … since then conditions have eased somewhat,” Mr Bell said.
The US consumer price index on Wednesday is expected to post a rise of 0.2 per cent from June for both the headline figure and the so-called core gauge that excludes food and energy according to a Bloomberg report.
However, the modest moves may not be enough to derail the Fed from a widely anticipated interest-rate cut next month, the report added.
Over the weekend, media cited Fed Governor Michelle Bowman as saying that there are still upside risks for inflation, signalling she may not be ready to nod to a rate cut at the Fed’s September meeting.
Money markets have fully priced a rate cut in September and about 100 basis points of easing for the year, according to swaps data compiled by Bloomberg.
“An upside surprise on inflation – currently expected at 0.2 per cent month-on-month – may temper some of the market pricing for a 50-basis point cut from the Fed next month,” Mr Bell at Emirates NBD added.
Markets will be looking for this week’s release of the July inflation print for the US for any more signals on what the Fed will do when it meets in mid-September
Edward Bell,
head of market economics at Emirates NBD
Stocks in Abu Dhabi and Dubai remained muted on Monday, with Dubai Financial Market’s DFM General Index gaining 0.1 per cent during early trade.
Abu Dhabi Securities Market’s main measure also rose 0.2 per cent.
Stock futures of London’s FTSE 100 were trading 0.4 per cent higher with CAC-40 in Paris up 0.35 per cent and those of Germany’s DAX were 0.25 per cent higher.
Futures of the Dow Jones Industrial Average in the US were also up 0.13 per cent, while the Nasdaq and S&P 500 futures were up 0.5 and 0.47 per cent.
“The skies are not fully clear yet, but there are several reasons that suggest to us that some relatively calmer seas are ahead of us,” Bloomberg cited analysts at Nomura Holdings as saying in a note.
The five pillars of Islam
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Results
2pm: Handicap (PA) Dh80,000 1,600m; Winner: AF Al Baher, Bernardo Pinheiro (jockey), Ernst Oertel (trainer).
2.30pm: Handicap (TB) Dh100,000 1,600m; Winner: Talento Puma, Xavier Ziani, Salem bin Ghadayer.
3pm: Handicap (TB) Dh90,000 1,950m; Winner: Tailor’s Row, Royston Ffrench, Salem bin Ghadayer.
3.30pm: Jebel Ali Stakes Listed (TB) Dh500,000 1,950m; Winner: Mark Of Approval, Patrick Cosgrave, Mahmood Hussain.
4pm: Conditions (TB) Dh125,000 1,400m; Winner: Dead-heat Raakez, Jim Crowley, Nicholas Bachalard/Attribution, Xavier Ziani, Salem bin Ghadayer.
4.30pm: Jebel Ali Sprint (TB) Dh500,000 1,000m; Winner: AlKaraama, Antonio Fresu, Musabah Al Muhairi.
5pm: Handicap (TB) Dh100,000 1,200m; Winner: Wafy, Richard Mullen, Satish Seemar.
5.30pm: Handicap (TB) Dh90,000 1,400m; Winner: Cachao, Tadhg O’Shea, Satish Seemar.
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.3-litre%20turbo%204-cyl%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E10-speed%20auto%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E298hp%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E452Nm%3Cbr%3E%3Cstrong%3ETowing%20capacity%3A%20%3C%2Fstrong%3E3.4-tonne%3Cbr%3E%3Cstrong%3EPayload%3A%20%3C%2Fstrong%3E4WD%20%E2%80%93%20776kg%3B%20Rear-wheel%20drive%20819kg%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EPrice%3A%20Dh138%2C945%20(XLT)%20Dh193%2C095%20(Wildtrak)%3Cbr%3E%3Cstrong%3EDelivery%3A%3C%2Fstrong%3E%20from%20August%3C%2Fp%3E%0A
Best Foreign Language Film nominees
Capernaum (Lebanon)
Cold War (Poland)
Never Look Away (Germany)
Roma (Mexico)
Shoplifters (Japan)
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
RACE CARD
6.30pm Maiden (TB) Dh82.500 (Dirt) 1,400m
7.05pm Handicap (TB) Dh87,500 (D) 1,400m
7.40pm Handicap (TB) Dh92,500 (Turf) 2,410m
8.15pm Handicap (TB) Dh105,000 (D) 1,900m
8.50pm UAE 2000 Guineas Trial (TB) Conditions Dh183,650 (D) 1,600m
9.25pm Dubai Trophy (TB) Conditions Dh183,650 (T) 1,200m
10pm Handicap (TB) Dh102,500 (T) 1,400m
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Killing of Qassem Suleimani
Results
4.30pm Jebel Jais – Maiden (PA) Dh60,000 (Turf) 1,000m; Winner: MM Al Balqaa, Bernardo Pinheiro (jockey), Qaiss Aboud (trainer)
5pm: Jabel Faya – Maiden (PA) Dh60,000 (T) 1,000m; Winner: AF Rasam, Tadhg O’Shea, Ernst Oertel
5.30pm: Al Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 2,200m; Winner: AF Mukhrej, Tadhg O’Shea, Ernst Oertel
6pm: The President’s Cup Prep – Conditions (PA) Dh100,000 (T) 2,200m; Winner: Mujeeb, Richard Mullen, Salem Al Ketbi
6.30pm: Abu Dhabi Equestrian Club – Prestige (PA) Dh125,000 (T) 1,600m; Winner: Jawal Al Reef, Antonio Fresu, Abubakar Daud
7pm: Al Ruwais – Group 3 (PA) Dh300,000 (T) 1,200m; Winner: Ashton Tourettes, Pat Dobbs, Ibrahim Aseel
7.30pm: Jebel Hafeet – Maiden (TB) Dh80,000 (T) 1,400m; Winner: Nibraas, Richard Mullen, Nicholas Bachalard
Overview
What: The Arab Women’s Sports Tournament is a biennial multisport event exclusively for Arab women athletes.
When: From Sunday, February 2, to Wednesday, February 12.
Where: At 13 different centres across Sharjah.
Disciplines: Athletics, archery, basketball, fencing, Karate, table tennis, shooting (rifle and pistol), show jumping and volleyball.
Participating countries: Algeria, Bahrain, Comoros, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Morocco, Oman, Palestine, Saudi Arabia, Sudan, Syria, Tunisia, Qatar and UAE.
Sour%20Grapes
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Profile of Bitex UAE
Date of launch: November 2018
Founder: Monark Modi
Based: Business Bay, Dubai
Sector: Financial services
Size: Eight employees
Investors: Self-funded to date with $1m of personal savings
Top tips to avoid cyber fraud
Microsoft’s ‘hacker-in-chief’ David Weston, creator of the tech company’s Windows Red Team, advises simple steps to help people avoid falling victim to cyber fraud:
1. Always get the latest operating system on your smartphone or desktop, as it will have the latest innovations. An outdated OS can erode away all investments made in securing your device or system.
2. After installing the latest OS version, keep it patched; this means repairing system vulnerabilities which are discovered after the infrastructure components are released in the market. The vast majority of attacks are based on out of date components – there are missing patches.
3. Multi-factor authentication is required. Move away from passwords as fast as possible, particularly for anything financial. Cybercriminals are targeting money through compromising the users’ identity – his username and password. So, get on the next level of security using fingertips or facial recognition.
4. Move your personal as well as professional data to the cloud, which has advanced threat detection mechanisms and analytics to spot any attempt. Even if you are hit by some ransomware, the chances of restoring the stolen data are higher because everything is backed up.
5. Make the right hardware selection and always refresh it. We are in a time where a number of security improvement processes are reliant on new processors and chip sets that come with embedded security features. Buy a new personal computer with a trusted computing module that has fingerprint or biometric cameras as additional measures of protection.
ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
More from Neighbourhood Watch:
The stats
Ship name: MSC Bellissima
Ship class: Meraviglia Class
Delivery date: February 27, 2019
Gross tonnage: 171,598 GT
Passenger capacity: 5,686
Crew members: 1,536
Number of cabins: 2,217
Length: 315.3 metres
Maximum speed: 22.7 knots (42kph)
Indian origin executives leading top technology firms
Sundar Pichai
Chief executive, Google and Alphabet
Satya Nadella
Chief executive, Microsoft
Ajaypal Singh Banga
President and chief executive, Mastercard
Shantanu Narayen
Chief executive, chairman, and president, Adobe
Indra Nooyi
Board of directors, Amazon and former chief executive, PepsiCo
more from Janine di Giovanni
Who has been sanctioned?
Daniella Weiss and Nachala
Described as 'the grandmother of the settler movement', she has encouraged the expansion of settlements for decades. The 79 year old leads radical settler movement Nachala, whose aim is for Israel to annex Gaza and the occupied West Bank, where it helps settlers built outposts.
Harel Libi & Libi Construction and Infrastructure
Libi has been involved in threatening and perpetuating acts of aggression and violence against Palestinians. His firm has provided logistical and financial support for the establishment of illegal outposts.
Zohar Sabah
Runs a settler outpost named Zohar’s Farm and has previously faced charges of violence against Palestinians. He was indicted by Israel’s State Attorney’s Office in September for allegedly participating in a violent attack against Palestinians and activists in the West Bank village of Muarrajat.
Coco’s Farm and Neria’s Farm
These are illegal outposts in the West Bank, which are at the vanguard of the settler movement. According to the UK, they are associated with people who have been involved in enabling, inciting, promoting or providing support for activities that amount to “serious abuse”.
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
The BIO:
He became the first Emirati to climb Mount Everest in 2011, from the south section in Nepal
He ascended Mount Everest the next year from the more treacherous north Tibetan side
By 2015, he had completed the Explorers Grand Slam
Last year, he conquered K2, the world’s second-highest mountain located on the Pakistan-Chinese border
He carries dried camel meat, dried dates and a wheat mixture for the final summit push
His new goal is to climb 14 peaks that are more than 8,000 metres above sea level
Dr Afridi's warning signs of digital addiction
Spending an excessive amount of time on the phone.
Neglecting personal, social, or academic responsibilities.
Losing interest in other activities or hobbies that were once enjoyed.
Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.
Experiencing sleep disturbances or changes in sleep patterns.
What are the guidelines?
Under 18 months: Avoid screen time altogether, except for video chatting with family.
Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.
Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.
Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.
Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.
Source: American Paediatric Association
More from Neighbourhood Watch:
Killing of Qassem Suleimani
The specs: 2018 Audi Q5/SQ5
Price, base: Dh183,900 / Dh249,000
Engine: 2.0L, turbocharged in-line four-cylinder / 3.0L, turbocharged V6
Gearbox: Seven-speed automatic / Eight-speed automatic
Power: 252hp @ 5,000rpm / 354hp @ 5,400rpm
Torque: 370Nm @ 1,600rpm / 500Nm @ 1,370rpm
Fuel economy: combined 7.2L / 100km / 8.3L / 100km
The biog
Family: Parents and four sisters
Education: Bachelor’s degree in business management and marketing at American University of Sharjah
A self-confessed foodie, she enjoys trying out new cuisines, her current favourite is the poke superfood bowls
Likes reading: autobiographies and fiction
Favourite holiday destination: Italy
Posts information about challenges, events, runs in other emirates on the group's Instagram account @Anagowrunning
Has created a database of Emirati and GCC sportspeople on Instagram @abeermk, highlight: Athletes
Apart from training, also talks to women about nutrition, healthy lifestyle, diabetes, cholesterol, blood pressure
UAE currency: the story behind the money in your pockets
Meghan%20podcast
%3Cp%3EMeghan%20Markle%2C%20the%20wife%20of%20Prince%20Harry%2C%20launched%20her%20long-awaited%20podcast%20Tuesday%2C%20with%20tennis%20megastar%20Serena%20Williams%20as%20the%20first%20guest.%3C%2Fp%3E%0A%3Cp%3EThe%20Duchess%20of%20Sussex%20said%20the%2012-part%20series%2C%20called%20%22Archetypes%2C%22%20--%20a%20play%20on%20the%20name%20of%20the%20couple's%20oldest%20child%2C%20Archie%20--%20would%20explore%20the%20female%20experience.%3C%2Fp%3E%0A%3Cp%3ELast%20year%20the%20couple%20told%20Oprah%20Winfrey%20that%20life%20inside%20%22The%20Firm%22%20had%20been%20miserable%2C%20and%20that%20they%20had%20experienced%20racism.%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%22I%20don't%20ever%20remember%20personally%20feeling%20the%20negative%20connotation%20behind%20the%20word%20ambitious%2C%20until%20I%20started%20dating%20my%20now-husband%2C%22%20she%20told%20the%20tennis%20champion.%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3C%2Fp%3E%0A
Venom
Director: Ruben Fleischer
Cast: Tom Hardy, Michelle Williams, Riz Ahmed
Rating: 1.5/5
Why%20all%20the%20lefties%3F
%3Cp%3ESix%20of%20the%20eight%20fast%20bowlers%20used%20in%20the%20ILT20%20match%20between%20Desert%20Vipers%20and%20MI%20Emirates%20were%20left-handed.%20So%2075%20per%20cent%20of%20those%20involved.%0D%3Cbr%3EAnd%20that%20despite%20the%20fact%2010-12%20per%20cent%20of%20the%20world%E2%80%99s%20population%20is%20said%20to%20be%20left-handed.%0D%3Cbr%3EIt%20is%20an%20extension%20of%20a%20trend%20which%20has%20seen%20left-arm%20pacers%20become%20highly%20valued%20%E2%80%93%20and%20over-represented%2C%20relative%20to%20other%20formats%20%E2%80%93%20in%20T20%20cricket.%0D%3Cbr%3EIt%20is%20all%20to%20do%20with%20the%20fact%20most%20batters%20are%20naturally%20attuned%20to%20the%20angles%20created%20by%20right-arm%20bowlers%2C%20given%20that%20is%20generally%20what%20they%20grow%20up%20facing%20more%20of.%0D%3Cbr%3EIn%20their%20book%2C%20%3Cem%3EHitting%20Against%20the%20Spin%3C%2Fem%3E%2C%20cricket%20data%20analysts%20Nathan%20Leamon%20and%20Ben%20Jones%20suggest%20the%20advantage%20for%20a%20left-arm%20pace%20bowler%20in%20T20%20is%20amplified%20because%20of%20the%20obligation%20on%20the%20batter%20to%20attack.%0D%3Cbr%3E%E2%80%9CThe%20more%20attacking%20the%20batsman%2C%20the%20more%20reliant%20they%20are%20on%20anticipation%2C%E2%80%9D%20they%20write.%0D%3Cbr%3E%E2%80%9CThis%20effectively%20increases%20the%20time%20pressure%20on%20the%20batsman%2C%20so%20increases%20the%20reliance%20on%20anticipation%2C%20and%20therefore%20increases%20the%20left-arm%20bowler%E2%80%99s%20advantage.%E2%80%9D%0D%3Cbr%3E%3C%2Fp%3E%0A
BIRD%20BOX%20BARCELONA
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