Pound has been all over the place in terms of performance. The British currency was down 0.3 per cent early, and then up more than 1 per cent only to trade steady at 1.2860 against the dollar in the afternoon. Theresa May’s government will face the no-confidence motion against her government later today after facing defeat in Brexit deal vote with a huge margin, the worst since 1920’s for a government. Emirates NBD announced stellar results for 2018. Emirates NBD on Wednesday reported a net profit of Dh10 billion for 2018, up 20 per cent year on year. The bank achieved another milestone as total assets surpassed Dh500 billion for the first time.
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Daily headlines from the UAE and around the world brought to you by Gulf News. See more at: http://gulfnews.com/videos
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00:00Hello and welcome to Gulf News Daily Business Wrap-Up.
00:05The anxiety seen in the UK's House of Commons can also be seen among pound traders.
00:10Yes, pound traders are anxious, they are dismayed at the same time, in terms of what positions
00:17to take ahead of the no-confidence motion that Theresa May government might face later
00:22in the day today.
00:24So pound as a result in the morning hours fell 0.5 percent, it recovered later to more
00:30than 1 percent and now again it's steady at 1.286 against the dollar.
00:35Well, that just shows how anxious the traders are ahead of the no-confidence motion in the
00:41British Parliament.
00:42Elsewhere, the shares also lagged in terms of performance compared to European counterparts.
00:47FTSE 100 index was down 0.5 percent compared to a fall of 0.2 percent in German tax index.
00:54In local news, MSNBD posted some stellar numbers in terms of performance in 2018.
01:01Its net profit rose to a record 10 billion dirhams, up 20 percent from year and also
01:08in terms of net total assets, the total assets rose to a record of 500 billion dirhams for
01:15the first time in the bank's history.
01:18Remember that Imbet and British shares were up about more than 2.2 percent in trade on
01:24DFM index today.
01:26That's it from me and thanks for watching.
01:27For more, you can log on to gulfnews.com slash business.