Plans to partly nationalise the world's banking systems pushed markets into a relief rally this morning, with most Asian and GCC exchanges gaining.
In late trading, the Hong Kong and Singapore indexes had gained more than three per cent, while Sydney had put on five per cent. The exchanges opened strongly, dipped in midsession and then recovered well.
In a sign that confidence was fragile, however, both the Jakarta and Taiwan markets are so far down more than two per cent.
The British government has announced it is to partly nationalise three banks ? RBS, Lloyds TSB and HBOS, alongside an international package of measures. Fred Goodwin, the chief executive of RBS will step down.
UAE markets opened strongly on hopes the latest co-ordinated international rescue, with the G7 and the International Monetary Fund ready to step in, would save the world from all-out recession.
The Dubai Financial Market and Abu Dhabi Securities Exchange were both up 7 and 5.90 per cent respectively.
Despite their rises, the continuing drop in the price of oil, which now stands at $80 a barrel, meant other Gulf bourses were more subdued.
The Doha market bucked the trend by falling 7.18 per cent, while Bahrain posted a 0.83 per cent loss.
The Saudi Tadawul and Kuwaiti markets both have added less than half a per cent today, while Muscat has grown by less than two per cent.
afoxwell@thenational.ae
Results:
6.30pm: Maiden Dh 165,000 1,400m.
Winner: Walking Thunder, Connor Beasley (jockey), Ahmad bin Harmash (trainer).
7.05pm: Handicap (rated 72-87) Dh 165,000 1,600m.
Winner: Syncopation, George Buckell, Doug Watson.
7.40pm: Maiden Dh 165,000 1,400m.
Winner: Big Brown Bear, Pat Dobbs, Doug Watson.
8.15pm: Handicap (75-95) Dh 190,000 1,200m.
Winner: Stunned, Pat Dobbs, Doug Watson.
8.50pm: Handicap (85-105) Dh 210,000 2,000m.
Winner: New Trails, Connor Beasley, Ahmad bin Harmash.
9.25pm: Handicap (75-95) Dh 190,000 1,600m.
Winner: Pillar Of Society, Pat Dobbs, Doug Watson.
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
The bio
Favourite book: Peter Rabbit. I used to read it to my three children and still read it myself. If I am feeling down it brings back good memories.
Best thing about your job: Getting to help people. My mum always told me never to pass up an opportunity to do a good deed.
Best part of life in the UAE: The weather. The constant sunshine is amazing and there is always something to do, you have so many options when it comes to how to spend your day.
Favourite holiday destination: Malaysia. I went there for my honeymoon and ended up volunteering to teach local children for a few hours each day. It is such a special place and I plan to retire there one day.
HEY%20MERCEDES%2C%20WHAT%20CAN%20YOU%20DO%20FOR%20ME%3F
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Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
Sweet%20Tooth
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