Donald Trump is wrapping up his visit to the UAE today. He arrived in Abu Dhabi yesterday, becoming the second serving US president to visit the country. Turkish-hosted talks to end the conflict in Ukraine appeared uncertain on Thursday. Israel's army stepped up attacks on Gaza.
On today's episode of Trending Middle East:
Sheikh Mohamed vows to work with Trump on advancing peace
US President Donald Trump visits Sheikh Zayed Grand Mosque in Abu Dhabi
Sheikh Mohamed bestows Trump with Order of Zayed
Ukraine accuses Russia of 'disrespect' as peace talks stall
'We were expecting a ceasefire': More than 100 killed in Israeli strikes on Gaza, civil defence says
This episode features Mohamad Ali Harisi, Foreign Editor, and Lizzie Porter, Turkey Correspondent.
Editor's note: An earlier version of this episode said Lizzie Porter reported from Istanbul. She reported from Ankara.
The struggle is on for active managers
David Einhorn closed out 2018 with his biggest annual loss ever for the 22-year-old Greenlight Capital.
The firm’s main hedge fund fell 9 per cent in December, extending this year’s decline to 34 percent, according to an investor update viewed by Bloomberg.
Greenlight posted some of the industry’s best returns in its early years, but has stumbled since losing more than 20 per cent in 2015.
Other value-investing managers have also struggled, as a decade of historically low interest rates and the rise of passive investing and quant trading pushed growth stocks past their inexpensive brethren. Three Bays Capital and SPO Partners & Co., which sought to make wagers on undervalued stocks, closed in 2018. Mr Einhorn has repeatedly expressed his frustration with the poor performance this year, while remaining steadfast in his commitment to value investing.
Greenlight, which posted gains only in May and October, underperformed both the broader market and its peers in 2018. The S&P 500 Index dropped 4.4 per cent, including dividends, while the HFRX Global Hedge Fund Index, an early indicator of industry performance, fell 7 per cent through December. 28.
At the start of the year, Greenlight managed $6.3 billion in assets, according to a regulatory filing. By May, the firm was down to $5.5bn.
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Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
