What is the asset class and geography you are focused on?
We are specialists in the UAE equity markets, with in-depth knowledge of all listed equities. We also have a strong network in the country, which has given us access to deep liquidity in listed and OTC equities traded in the UAE.
What is the outlook for the month ahead?
The UAE markets have sustained a bullish trend since early last year after hitting an all-time low in early 2012. The trend began by re-pricing oversold equities and continued as liquidity began flowing into the country. The influx of liquidity into the UAE markets has especially increased since late last year, as we witnessed more regional players stepping into the UAE markets with fresh cash. This trend still seems to be in its initial stages and may prove to be one of the strongest bullish markets that the UAE has ever experienced. For the medium to long term, this market is still poised for higher prices. Besides, lower yield on other investment alternatives has made equities and direct real estate investments look even more attractive. We experienced a lot of volatility in the month of March, but most importantly we have completed the technical correction induced by many of the large caps going ex-dividend. The dip in the overall indices has now fully completed and the market is looking for higher levels. The current wave in the market should have enough momentum to take us through all of April and May, as the UAE and Qatar effectively join the MSCI Emerging Markets Index in May.
What are the main risks to the outlook?
As long as inflation is controlled and interest rates remain stable, economic risks would stay minimal in the foreseeable future. Nevertheless, the speculative elements and delays of implementing advanced trading techniques remain prime concerns. Many listed stocks have already entered into overvaluation, while others are still in the lower range of fair valuation. We need effective tools to counterbalance the buying leverage in the market and thus act as smoothers – short selling and market making activities. On a different note, we are still exposed to geopolitical risks. These risks are always present in the region and they continue to be our main concern. However, recently we have seen the geopolitics in the region calm down as Iran’s new government yields to a diplomatic approach to the West and the western-imposed sanctions.
What is the best investment at the moment?
The best investments will always be subject to the profile of the investor. Each investor, whether individual or institutional, has different investment objectives, be it required return, risk tolerance or investment constraints such as liquidity and time horizon. In other words, there is no magic bullet answer for this question. Nevertheless, we emphasise the importance of business cycles. Under current circumstances, we believe that real estate, banking and hospitality sectors will be the first to reflect the economic growth until 2020. Consumer goods and other retail segments shall follow based on how the inflation and interest rates look like in the near future.
What was the best investment you were ever involved in.
My best investment was putting time and effort into the ride through the bear market of 2008 until it finally gave way to the bull market we are seeing today. During this time, people in the field were questioning the viability of their careers as profits and capital dwindled and eventually disappeared. But after sticking through these hard times, the efforts we have made over these past few years have finally come to fruition.
What was the worst?
My worst investment was a loss of opportunity in the local real estate market. There were all the signs of a market bottoming in 2009 and 2010. It was hard to overcome the fear and buy some real estate at the time. Now I have to deal with prices that have almost doubled in most cases.
jeverington@thenational.ae
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UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
JAPAN SQUAD
Goalkeepers: Masaaki Higashiguchi, Shuichi Gonda, Daniel Schmidt
Defenders: Yuto Nagatomo, Tomoaki Makino, Maya Yoshida, Sho Sasaki, Hiroki Sakai, Sei Muroya, Genta Miura, Takehiro Tomiyasu
Midfielders: Toshihiro Aoyama, Genki Haraguchi, Gaku Shibasaki, Wataru Endo, Junya Ito, Shoya Nakajima, Takumi Minamino, Hidemasa Morita, Ritsu Doan
Forwards: Yuya Osako, Takuma Asano, Koya Kitagawa
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The biog
Alwyn Stephen says much of his success is a result of taking an educated chance on business decisions.
His advice to anyone starting out in business is to have no fear as life is about taking on challenges.
“If you have the ambition and dream of something, follow that dream, be positive, determined and set goals.
"Nothing and no-one can stop you from succeeding with the right work application, and a little bit of luck along the way.”
Mr Stephen sells his luxury fragrances at selected perfumeries around the UAE, including the House of Niche Boutique in Al Seef.
He relaxes by spending time with his family at home, and enjoying his wife’s India cooking.
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How The Debt Panel's advice helped readers in 2019
December 11: 'My husband died, so what happens to the Dh240,000 he owes in the UAE?'
JL, a housewife from India, wrote to us about her husband, who died earlier this month. He left behind an outstanding loan of Dh240,000 and she was hoping to pay it off with an insurance policy he had taken out. She also wanted to recover some of her husband’s end-of-service liabilities to help support her and her son.
“I have no words to thank you for helping me out,” she wrote to The Debt Panel after receiving the panellists' comments. “The advice has given me an idea of the present status of the loan and how to take it up further. I will draft a letter and send it to the email ID on the bank’s website along with the death certificate. I hope and pray to find a way out of this.”
November 26: ‘I owe Dh100,000 because my employer has not paid me for a year’
SL, a financial services employee from India, left the UAE in June after quitting his job because his employer had not paid him since November 2018. He owes Dh103,800 on four debts and was told by the panellists he may be able to use the insolvency law to solve his issue.
SL thanked the panellists for their efforts. "Indeed, I have some clarity on the consequence of the case and the next steps to take regarding my situation," he says. "Hopefully, I will be able to provide a positive testimony soon."
October 15: 'I lost my job and left the UAE owing Dh71,000. Can I return?'
MS, an energy sector employee from South Africa, left the UAE in August after losing his Dh12,000 job. He was struggling to meet the repayments while securing a new position in the UAE and feared he would be detained if he returned. He has now secured a new job and will return to the Emirates this month.
“The insolvency law is indeed a relief to hear,” he says. "I will not apply for insolvency at this stage. I have been able to pay something towards my loan and credit card. As it stands, I only have a one-month deficit, which I will be able to recover by the end of December."
Country-size land deals
US interest in purchasing territory is not as outlandish as it sounds. Here's a look at some big land transactions between nations:
Louisiana Purchase
If Donald Trump is one who aims to broker "a deal of the century", then this was the "deal of the 19th Century". In 1803, the US nearly doubled in size when it bought 2,140,000 square kilometres from France for $15 million.
Florida Purchase Treaty
The US courted Spain for Florida for years. Spain eventually realised its burden in holding on to the territory and in 1819 effectively ceded it to America in a wider border treaty.
Alaska purchase
America's spending spree continued in 1867 when it acquired 1,518,800 km2 of Alaskan land from Russia for $7.2m. Critics panned the government for buying "useless land".
The Philippines
At the end of the Spanish-American War, a provision in the 1898 Treaty of Paris saw Spain surrender the Philippines for a payment of $20 million.
US Virgin Islands
It's not like a US president has never reached a deal with Denmark before. In 1917 the US purchased the Danish West Indies for $25m and renamed them the US Virgin Islands.
Gwadar
The most recent sovereign land purchase was in 1958 when Pakistan bought the southwestern port of Gwadar from Oman for 5.5bn Pakistan rupees.
Squads
Sri Lanka Tharanga (c), Mathews, Dickwella (wk), Gunathilaka, Mendis, Kapugedera, Siriwardana, Pushpakumara, Dananjaya, Sandakan, Perera, Hasaranga, Malinga, Chameera, Fernando.
India Kohli (c), Dhawan, Rohit, Rahul, Pandey, Rahane, Jadhav, Dhoni (wk), Pandya, Axar, Kuldeep, Chahal, Bumrah, Bhuvneshwar, Thakur.
Killing of Qassem Suleimani
Emergency phone numbers in the UAE
Estijaba – 8001717 – number to call to request coronavirus testing
Ministry of Health and Prevention – 80011111
Dubai Health Authority – 800342 – The number to book a free video or voice consultation with a doctor or connect to a local health centre
Emirates airline – 600555555
Etihad Airways – 600555666
Ambulance – 998
Knowledge and Human Development Authority – 8005432 ext. 4 for Covid-19 queries
Women%E2%80%99s%20Asia%20Cup
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The Year Earth Changed
Directed by:Tom Beard
Narrated by: Sir David Attenborough
Stars: 4
UAE currency: the story behind the money in your pockets
Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
if you go
The flights
Fly to Rome with Etihad (www.etihad.ae) or Emirates (www.emirates.com) from Dh2,480 return including taxes. The flight takes six hours. Fly from Rome to Trapani with Ryanair (www.ryanair.com) from Dh420 return including taxes. The flight takes one hour 10 minutes.
The hotels
The author recommends the following hotels for this itinerary. In Trapani, Ai Lumi (www.ailumi.it); in Marsala, Viacolvento (www.viacolventomarsala.it); and in Marsala Del Vallo, the Meliaresort Dimore Storiche (www.meliaresort.it).
Mohammed bin Zayed Majlis
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Graduated from the American University of Sharjah
She is the eldest of three brothers and two sisters
Has helped solve 15 cases of electric shocks
Enjoys travelling, reading and horse riding
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Learn more about Qasr Al Hosn
In 2013, The National's History Project went beyond the walls to see what life was like living in Abu Dhabi's fabled fort:
MATCH INFO
Jersey 147 (20 overs)
UAE 112 (19.2 overs)
Jersey win by 35 runs
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