UAE bourses on positive territory, driven by stimulus packages

The UAE’s major bourses recorded follow on gains on Tuesday as investors cheered the government’s recently announced incentives and stimulus packages to boost the local economy. (AFP)
Short Url
Updated 07 April 2020

UAE bourses on positive territory, driven by stimulus packages

DUBAI: The UAE’s major bourses recorded follow on gains on Tuesday, taking a lead from the previous day’s venture into positive territory as investors cheered the government’s recently announced incentives and stimulus packages to boost the local economy.

The Dubai Financial Market General Index was up 3.95 percent to 1,758.53 while the Abu Dhabi Securities Index gained 4.23 percent to 3,880.41 during late morning trade. The Dubai bellwether inched up 0.57 percent while the Abu Dhabi index climbed 1.28 percent on Monday.

Around 36.44 million shares have been traded at the Abu Dhai bourse so far, valued at Dh61.252 million, while turnover in Dubai was at 215.927 million shares, worth Dh173.334 million.


Arab News recording exposes Nissan lawyer’s lie on IMF bailout for Lebanon

Updated 01 June 2020

Arab News recording exposes Nissan lawyer’s lie on IMF bailout for Lebanon

LONDON: Arab News has published the recording of an interview with a Nissan lawyer after he denied saying that a bailout of Lebanon by the International Monetary Fund (IMF) was linked to the extradition of fugitive tycoon Carlos Ghosn.

The former Nissan chairman fled to Beirut in December from Japan, where he faced charges of financial wrongdoing.

In a story published in Arab News Japan on Saturday, Sakher El Hachem, Nissan’s legal representative in Lebanon, said the multibillion-dollar IMF bailout was contingent on Ghosn being handed back to Japan. 

The lawyer said IMF support for Lebanon required Japan’s agreement. Lebanese officials had told him: “Japan will assist Lebanon if Ghosn gets extradited,” the lawyer said

“For Japan to agree on that they want the Lebanese authorities to extradite Ghosn, otherwise they won’t provide Lebanon with financial assistance. Japan is one of the IMF’s major contributors … if Japan vetoes Lebanon then the IMF won’t give Lebanon money, except after deporting Ghosn.”

On Sunday, El Hachem denied making the comments. “The only thing I told the newspaper was that there should have been a court hearing on April 30 in Lebanon, but it was postponed because of the pandemic,” he said. In response, Arab News published the recording of the interview, in which he can be clearly heard making the statements attributed to him. 

Japan issued an arrest warrant after Ghosn, 66, escaped house arrest and fled the country.

Now listen to the recording: