00:00Rising tensions between India and Pakistan are still taking their tolls on stock markets
00:06with India's benchmark index giving up early gains on Wednesday to end negative for the
00:11day.
00:12Investor sentiment was hit after even more disputes broke on the border between India
00:16and Pakistan.
00:17Experts say they're worried that institutional investors from abroad might take out some
00:21of their money from the country because of the disputes between India and Pakistan, which
00:26would weigh down the Indian index.
00:27In local news, Aldar Investment announced that it will be acquiring two properties from
00:31Etihad Aviation Group for 1.2 billion dirhams.
00:35The transaction is expected to be completed in the second quarter of this year and will
00:39come in exchange for Etihad Airways gaining back the rest of the ownership for Etihad
00:43headquarters.
00:44The three buildings were previously held in a 50-50 joint venture between Etihad Airways
00:48and Aldar.
00:49For Aldar, this acquisition means it will get properties in a prime location and for
00:54Etihad Airways it will mean a cash injection as it attempts to recover from its losses
00:58in 2017 and 2016.
01:00And finally, Abu Dhabi national oil company Adnok signed a 4.4 billion dirham deal with
01:05a South Korean firm to build the world's largest storage facility for crude oil in Fujairah.
01:10The facility will have a capacity of 42 million barrels.
01:13The agreement was signed by the Crown Prince of Abu Dhabi, Sheikh Mohammed bin Zayed Al-Nahyan
01:17and the President of South Korea.
01:19For more details on these stories and more, please do check us out at gulfnews.com forward
01:23slash business.
01:24This has been the daily business wrap.
