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Gold diggers are resisting rally’s lure

Bullion prices are at their highest in seven years, closing in on $1,600 an ounce. Gold held by exchange-traded funds is at all-time records and rising, thanks to worries over the economic damage inflicted by the coronavirus outbreak. Reserves, meanwhile, are depleting. It’s a heady mixture for miners, but perhaps not yet an intoxicating one. Take Polyus PJSC, Russia’s largest ...

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TikTok explains bull market better than Twitter

Tech stocks have surged to start 2020, lifting the entire market to record highs. But one place you won’t find much enthusiasm for the rally is on Twitter. There, you’re more likely to read accounts spreading fake news about the coronavirus outbreak or mocking the valuation of Tesla Inc.’s meteoric stock. I have a theory about this: Many of Twitter’s ...

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Etisalat posts AED8.7b profit

Abu Dhabi / WAM Etisalat Group announced Tuesday its consolidated financial statements for the 12 months ending December 31 2019, reporting consolidated net profit of AED8.7 billion. According to a company press statement, the aggregate subscriber base reached 149 million, representing a year-on-year (YOY) increase of 6%. Twelve months’ consolidated revenues reached to AED52.2 billion, while consolidated net profit after ...

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