Daily Archives: April 1, 2020

AED1.65 bn in UAE nationals’ net investments in stock markets in March

ABU DHABI, UAE citizens invested to the tune of AED1.65 billion in Abu Dhabi and Dubai stock exchanges in March 2020, according to official figures recently released by the two bourses.

The figure is the highest on record in several years in a sign reflective of the attractive returns offered by UAE equity markets which touch 10 percent in average, therefore exceeding those provided by other investment vehicles, primarily bank deposits.

According to the official statistics, Emiratis purchased AED2.839 billon and sold AED1.956 billion worth of shares, generating net investment returns of AED883 million during the reference period.

Total transactions in the two bourses hit AED22.36 bn in March, AED12.732 bn of which were conducted at Dubai Financial Market and AED9.63 bn in Abu Dhabi Securities Exchange.

Source: Emirates News Agency

Ministry of Economy, cooperatives discuss stock levels of essentials, food prices

ABU DHABI, Mohammed Ahmed bin Abdulaziz Al Shehhi, Under-Secretary for Economic Affairs at the Ministry of Economy, held a virtual meeting with representatives of consumer cooperatives from around the country.

During the meeting, Al Shehhi discussed the level of the stocks of essential commodities, food prices, and the availability of disinfectants and detergents, especially face masks, as part of the ministry’s efforts to monitor the country’s markets.

Al Shehhi also called on cooperative societies to sell affordable masks to satisfy the needs of consumers and ensure price stability, stressing the need to report any supplier who intentionally tampers with prices of food and key items, such as disinfectants and detergents, and takes advantage of the current conditions.

Al Shehhi explained that the ministry’s teams are present every day on local markets, in cooperation with local authorities, to monitor supply and demand and levy immediate sanctions on any supplier that manipulates prices or practices behaviours contrary to the law.

The representatives of consumer cooperatives noted the presence of adequate stock levels of various basic commodities while thanking the ministry for its timely efforts to overcome the various challenges facing supply and demand.

They also stated that prices are stable in the markets and all types of commodities are available in the outlets of consumer cooperatives to cover consumer needs, whether with regards to food commodities, basic materials, masks or detergents.

Source: Emirates News Agency

UAE telecom subscribers hit 23.67 mn in 2019

ABU DHABI, The number of telecommunications subscribers in UAE mobile, fixed-line and data services amounted to around 23.67 million in December 2019, 120,000 up from the preceding month, according to statistics released today by the Telecommunication Regulatory Authority.

The number of mobile phone subscribers increased to around 18.278 million in December from 18.178 million in November, which equals to 203.3 – 204.3 lines per 100 inhabitants last year , according to TRA’s figures.

Prepaid-service subscribers numbered 14.655 million in the reference year, while post-paid service mobile subscribers reached 3,623,000.

Up to 3.046 million people subscribed in internet services until December, while fixed-line subscribers hit 2.345 million, according to the RTA’s figures.

Source: Emirates News Agency

Ministry of Health announces 150 new cases of COVID-19, two deaths among various nationalities

ABU DHABI, The Ministry of Health and Prevention today announced 150 new cases of the novel coronavirus, COVID-19, in the UAE, bringing the total number of cases to 814.

The Ministry also revealed that two patients suffering from COVID-19, an Asian national and a GCC national aged 62 and 78, respectively, died. Both of the deceased had chronic illnesses, including heart disease. The total number of deaths has now reached eight.

The new cases were detected upon examining people who came in contact with previously infected patients and did not adhere to preventative measures or maintain sufficient physical distance.

A number of cases resulted from international travel. The newly diagnosed patients of various nationalities are in a stable condition and receiving the necessary medical care.

The Ministry and other local health authorities called upon the public to adopt healthy practices to safeguard against contracting contagious diseases. Healthy behaviors aimed at preventing the spread of germs and viruses include maintaining hand hygiene by washing with soap and water and covering the mouth and nose while coughing and sneezing.

The Ministry expressed its sincere condolences to the families of the deceased and wished a speedy recovery for all patients.

The Ministry also advised people suffering from respiratory illnesses to avoid mixing in crowded places. It stressed that the public is urged to consume information from official sources only and avoid spreading rumours.

Source: Emirates News Agency