UAE bans certain poultry products from US and Malaysian states


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ABU DHABI // The UAE has banned all non-heat-treated poultry products from parts of the United States and Malaysia due to concerns about the spread of bird flu.

The Ministry of Climate Change and Environment decided to take action following an alert from the World Organisation for Animal Health.

The import ban affects all types of live domestic, wild and ornamental birds, as well as chicks, eggs and bird remains from Lincoln, Tennessee and the province of Kelantan in Malaysia.

Majid Sultan Al Qasimi, the ministry’s director of Animal Health and Development Department, said the ban was “based on the notification from the World Organisation for Animal Health about the registration of highly pathogenic avian influenza in commercial farms in Tennessee, USA [and Kelantan, Malaysia]”.

Mr Al Qasimi said the ministry was determined to raise the level of food safety to protect consumers.

“It works to implement the Federal Law No 10 of 2015 on the safety of food, which applies to all establishments licensed to trade food or feed, and consignments coming to the country or passing through its territory,” he said.

The law also applies in all stages of the food chain, from primary production through processing until it reaches the consumer.

The ministry is responsible for standardising and supervising food safety procedures and works in partnership with local food authorities.

It is also working on developing policies, strategies and legislation to ensure food safety throughout the food chain and regulating trade activities to enhance food security.

When a shipment of food product is received by authorities, the documents accompanying the consignments [certificate of origin, health certificate and other required certificates such as Halal certificate] are strictly verified, said Mr Al Qasimi.

The authorities also screen the product identification cards to check that it complies with UAE standards and examines samples of the food through laboratory tests to ensure they are safe to eat.

newsdesk@thenational.ae

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What should do investors do now?

What does the S&P 500's new all-time high mean for the average investor? 

Should I be euphoric?

No. It's fine to be pleased about hearty returns on your investments. But it's not a good idea to tie your emotions closely to the ups and downs of the stock market. You'll get tired fast. This market moment comes on the heels of last year's nosedive. And it's not the first or last time the stock market will make a dramatic move.

So what happened?

It's more about what happened last year. Many of the concerns that triggered that plunge towards the end of last have largely been quelled. The US and China are slowly moving toward a trade agreement. The Federal Reserve has indicated it likely will not raise rates at all in 2019 after seven recent increases. And those changes, along with some strong earnings reports and broader healthy economic indicators, have fueled some optimism in stock markets.

"The panic in the fourth quarter was based mostly on fears," says Brent Schutte, chief investment strategist for Northwestern Mutual Wealth Management Company. "The fundamentals have mostly held up, while the fears have gone away and the fears were based mostly on emotion."

Should I buy? Should I sell?

Maybe. It depends on what your long-term investment plan is. The best advice is usually the same no matter the day — determine your financial goals, make a plan to reach them and stick to it.

"I would encourage (investors) not to overreact to highs, just as I would encourage them not to overreact to the lows of December," Mr Schutte says.

All the same, there are some situations in which you should consider taking action. If you think you can't live through another low like last year, the time to get out is now. If the balance of assets in your portfolio is out of whack thanks to the rise of the stock market, make adjustments. And if you need your money in the next five to 10 years, it shouldn't be in stocks anyhow. But for most people, it's also a good time to just leave things be.

Resist the urge to abandon the diversification of your portfolio, Mr Schutte cautions. It may be tempting to shed other investments that aren't performing as well, such as some international stocks, but diversification is designed to help steady your performance over time.

Will the rally last?

No one knows for sure. But David Bailin, chief investment officer at Citi Private Bank, expects the US market could move up 5 per cent to 7 per cent more over the next nine to 12 months, provided the Fed doesn't raise rates and earnings growth exceeds current expectations. We are in a late cycle market, a period when US equities have historically done very well, but volatility also rises, he says.

"This phase can last six months to several years, but it's important clients remain invested and not try to prematurely position for a contraction of the market," Mr Bailin says. "Doing so would risk missing out on important portfolio returns."

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