Gold bangles are on display at a jewellery showroom in Mumbai, India. Reuters
Seven other lucky shoppers won gold sets, diamond rings and gemstones.
Investors took a huge sigh of relief on Friday due to positive developments across the globe on Friday. Markets have swiftly reversed the sharp falls seen at the start of the week.
The travel ban "is a big surprise and a big shock to the market" and shows that investors are yet to see the full financial fallout from the coronavirus outbreak, said IG Markets analyst Kyle Rodda. On the flip side, traders are selling gold to fund margin calls, providing a headwind for the metal, Rodda added.
Dubai Chamber members who are trading with markets in Asia are faring better than expected despite business challenges brought forth by the (Covid-19) pandemic, a new report issued by Dubai Chamber of Commerce and Industry has revealed.
The Federal Tax Authority (FTA) asserted that its recent decision to postpone the final step of phase two of the Marking Tobacco and Tobacco Products Scheme until January 1, 2021, does not affect the first two steps that were already implemented, nor does it impact the Excise Tax rates.
The Umm Al Quwain Free Trade Zone Authority has taken a series of proactive steps to ensure business continuity for its existing investors who are battling the economic backlash. These welcome measures will lend a helping hand to SMEs and microbusinesses to overcome serious cash flow challenges in the next few months, retain their workforce and sustain their businesses.
Special Assistant to the Prime Minister on Accountability, Shahzad Akbar says a subsidy of Rs29 billion was given to sugar industry in last five years to the subsidy of just Rs2.4 billion by the PTI-led Punjab Government.