Who will win and lose from minimum tax on multinationals?
In 2018, around a third of the profits of US multinationals were booked in Luxembourg, the Netherlands and Ireland, although these countries only accounted for five per cent of their sales. Reuters  G20 finance ministers meeting in Italy will discuss a reform of taxation on multinational companies that is meant to stop nations from using ultra-low tax rates to attract businesses. The world's top economies would be the biggest gainers of the OECD-brokered preliminary deal, while tax havens would be the biggest losers. Big countries to win  The US, Germany, France ... the world's biggest countries are where multinationals do most of their business but are less and less likely to have their tax homes. These countries stand to benefit from a measure that would redistribute part of the corporate taxes raised to nations where multinationals actually make their profits. The imposition of a minimum rate of 15 per cent (with fewer possibilities to lower it) would also increase the amount of tax money to be distributed. The US stands to benefit from a measure that would redistribute part of the corporate taxes raised to nations where multinationals actually make their profits. Reuters  According to the OECD, which led negotiations that produced a draft tax reform agreement among 131 nations, setting a minimum effective tax rate of 15 per cent would generate an additional 150 billion ($175bn) in revenue per year. Many nations have rates higher than 15 per cent on paper, but with so many exemptions that companies end paying much less. Most of these exemptions would be closed, so companies would end up having to pay at least 15 per cent. The CAE, a body charged with providing economic analysis for the French government, has calculated that Paris would likely get an extra 6bn in tax revenue per year. Germany would likely receive 8.3bn and the US nearly 15bn. China would also likely benefit as it is expected to be able to continue to provide certain tax incentives to support business development. The details on what tax incentives might remain have yet to be finalised, however. Tax havens to lose  Countries that set their tax rates low to lure businesses, including tax havens that charge little to no tax, stand to lose the most. While Barbados and Saint Vincent and the Grenadines have balked at the deal, other tax havens like Panama, Bermuda and the British Virgin Islands have nonetheless signed up. "They've realised that they don't have the capacity to block an international deal and calculated that it's in their interest to be cooperative," said Nicolas Veron, an economist at the Peterson Institute for International Economics in Washington and the Bruegel Institute in Brussels. "Countries which attracted shell companies for years will suffer from the reform and will have to find other development strategies," said Farid Toubal, a specialist on the subject at Paris Dauphine University. Countries like Barbados that set their tax rates low to lure businesses, including tax havens that charge little to no tax, stand to lose the most. Getty  Worried European countries  European countries like Ireland, which lured Apple and Google with the possibility of lowering effective tax rates to practically nothing, would see a windfall of revenue if they join the reform. But that is only if these companies stay and continue to book their profits there. Countries like the Netherlands, Luxembourg and Switzerland are in a similar boat. "Beyond the impact on public finances, it's clear that the reform process could affect these countries' economies and employment, particularly if multinationals relocate profits and investments as a result," said economist Ricardo Amaro at Oxford Economics. Quote Countries which attracted shell companies for years will suffer from the reform and will have to find other development strategies Farid Toubal, Paris Dauphine University  In 2018, around a third of the profits of US multinationals were booked in the Netherlands, Ireland and Luxembourg, although these countries only accounted for five per cent of their sales, Mr Amaro said. But Ireland, which has invested heavily in recent years in IT infrastructure and education, and become a centre for the pharmaceutical industry, would likely keep many multinationals, even if it raised rates. "Certainly the shell companies will leave, but the production base will stay as Ireland has other advantages, they speak English, it is part of the immense European market," said Paris Dauphine University's Mr Toubal. Exemptions for emerging nations  Non-governmental groups that analyse tax optimisation strategies used by multinationals, like Oxfam, have criticised the OECD-brokered deal for letting rich countries keep most of the additional tax revenue. "The world's poorest countries will recover less than three per cent  despite being home to over a third of the world's population," Oxfam International's executive director Gabriela Bucher said. European countries like Ireland, which lured Apple and Google with the possibility of lowering effective tax rates to practically nothing, would see a windfall of revenue if they join the reform. Tourism Ireland  But the draft deal that emerged at the beginning of July does contain some sweeteners for emerging nations. They will benefit from the measures that redistribute some tax revenues to countries where profits are generated. Developing countries will also be able to maintain some tax incentives to lure in manufacturing, although details have yet to be agreed. Nancy 9 (Hassa Beek) Nancy Ajram (In2Musica)  Nancy 9 (Hassa Beek) Nancy Ajram (In2Musica)  Nancy 9 (Hassa Beek) Nancy Ajram (In2Musica)  Nancy 9 (Hassa Beek) Nancy Ajram (In2Musica)  Nancy 9 (Hassa Beek) Nancy Ajram (In2Musica)  Nancy 9 (Hassa Beek) Nancy Ajram (In2Musica)  Nancy 9 (Hassa Beek) Nancy Ajram (In2Musica)  Nancy 9 (Hassa Beek) Nancy Ajram (In2Musica)  Nancy 9 (Hassa Beek) Nancy Ajram (In2Musica)  Nancy 9 (Hassa Beek) Nancy Ajram (In2Musica)  Nancy 9 (Hassa Beek) Nancy Ajram (In2Musica)  Nancy 9 (Hassa Beek) Nancy Ajram (In2Musica)  Nancy 9 (Hassa Beek) Nancy Ajram (In2Musica)  Nancy 9 (Hassa Beek) Nancy Ajram (In2Musica)  Nancy 9 (Hassa Beek) Nancy Ajram (In2Musica)  Nancy 9 (Hassa Beek) Nancy Ajram (In2Musica)  Four reasons global stock markets are falling right now There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest: 1. Rising US interest rates The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year. Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs. At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end. 2. Stronger dollar High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets. 3. Global trade war Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trumps spat with China will escalate into a full-blown global trade war, with both sides suffering. The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock pickers market. 4. Eurozone uncertainty Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy. Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line. The European economy may also be slowing, Mr Beauchamp warns. A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.  Four reasons global stock markets are falling right now There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest: 1. Rising US interest rates The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year. Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs. At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end. 2. Stronger dollar High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets. 3. Global trade war Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trumps spat with China will escalate into a full-blown global trade war, with both sides suffering. The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock pickers market. 4. Eurozone uncertainty Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy. Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line. The European economy may also be slowing, Mr Beauchamp warns. A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.  Four reasons global stock markets are falling right now There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest: 1. Rising US interest rates The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year. Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs. At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end. 2. Stronger dollar High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets. 3. Global trade war Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trumps spat with China will escalate into a full-blown global trade war, with both sides suffering. The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock pickers market. 4. Eurozone uncertainty Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy. Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line. The European economy may also be slowing, Mr Beauchamp warns. A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.  Four reasons global stock markets are falling right now There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest: 1. Rising US interest rates The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year. Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs. At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end. 2. Stronger dollar High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets. 3. Global trade war Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trumps spat with China will escalate into a full-blown global trade war, with both sides suffering. The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock pickers market. 4. Eurozone uncertainty Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy. Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line. The European economy may also be slowing, Mr Beauchamp warns. A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.  Four reasons global stock markets are falling right now There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest: 1. Rising US interest rates The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year. Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs. At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end. 2. Stronger dollar High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets. 3. Global trade war Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trumps spat with China will escalate into a full-blown global trade war, with both sides suffering. The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock pickers market. 4. Eurozone uncertainty Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy. Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line. The European economy may also be slowing, Mr Beauchamp warns. A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.  Four reasons global stock markets are falling right now There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest: 1. Rising US interest rates The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year. Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs. At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end. 2. Stronger dollar High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets. 3. Global trade war Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trumps spat with China will escalate into a full-blown global trade war, with both sides suffering. The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock pickers market. 4. Eurozone uncertainty Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy. Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line. The European economy may also be slowing, Mr Beauchamp warns. A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.  Four reasons global stock markets are falling right now There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest: 1. Rising US interest rates The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year. Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs. At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end. 2. Stronger dollar High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets. 3. Global trade war Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trumps spat with China will escalate into a full-blown global trade war, with both sides suffering. The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock pickers market. 4. Eurozone uncertainty Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy. Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line. The European economy may also be slowing, Mr Beauchamp warns. A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.  Four reasons global stock markets are falling right now There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest: 1. Rising US interest rates The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year. Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs. At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end. 2. Stronger dollar High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets. 3. Global trade war Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trumps spat with China will escalate into a full-blown global trade war, with both sides suffering. The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock pickers market. 4. Eurozone uncertainty Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy. Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line. The European economy may also be slowing, Mr Beauchamp warns. A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.  Four reasons global stock markets are falling right now There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest: 1. Rising US interest rates The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year. Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs. At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end. 2. Stronger dollar High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets. 3. Global trade war Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trumps spat with China will escalate into a full-blown global trade war, with both sides suffering. The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock pickers market. 4. Eurozone uncertainty Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy. Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line. The European economy may also be slowing, Mr Beauchamp warns. A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.  Four reasons global stock markets are falling right now There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest: 1. Rising US interest rates The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year. Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs. At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end. 2. Stronger dollar High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets. 3. Global trade war Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trumps spat with China will escalate into a full-blown global trade war, with both sides suffering. The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock pickers market. 4. Eurozone uncertainty Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy. Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line. The European economy may also be slowing, Mr Beauchamp warns. A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.  Four reasons global stock markets are falling right now There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest: 1. Rising US interest rates The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year. Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs. At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end. 2. Stronger dollar High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets. 3. Global trade war Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trumps spat with China will escalate into a full-blown global trade war, with both sides suffering. The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock pickers market. 4. Eurozone uncertainty Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy. Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line. The European economy may also be slowing, Mr Beauchamp warns. A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.  Four reasons global stock markets are falling right now There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest: 1. Rising US interest rates The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year. Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs. At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end. 2. Stronger dollar High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets. 3. Global trade war Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trumps spat with China will escalate into a full-blown global trade war, with both sides suffering. The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock pickers market. 4. Eurozone uncertainty Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy. Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line. The European economy may also be slowing, Mr Beauchamp warns. A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.  Four reasons global stock markets are falling right now There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest: 1. Rising US interest rates The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year. Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs. At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end. 2. Stronger dollar High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets. 3. Global trade war Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trumps spat with China will escalate into a full-blown global trade war, with both sides suffering. The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock pickers market. 4. Eurozone uncertainty Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy. Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line. The European economy may also be slowing, Mr Beauchamp warns. A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.  Four reasons global stock markets are falling right now There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest: 1. Rising US interest rates The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year. Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs. At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end. 2. Stronger dollar High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets. 3. Global trade war Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trumps spat with China will escalate into a full-blown global trade war, with both sides suffering. The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock pickers market. 4. Eurozone uncertainty Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy. Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line. The European economy may also be slowing, Mr Beauchamp warns. A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.  Four reasons global stock markets are falling right now There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest: 1. Rising US interest rates The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year. Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs. At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end. 2. Stronger dollar High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets. 3. Global trade war Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trumps spat with China will escalate into a full-blown global trade war, with both sides suffering. The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock pickers market. 4. Eurozone uncertainty Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy. Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line. The European economy may also be slowing, Mr Beauchamp warns. A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.  Four reasons global stock markets are falling right now There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest: 1. Rising US interest rates The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year. Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs. At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end. 2. Stronger dollar High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets. 3. Global trade war Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trumps spat with China will escalate into a full-blown global trade war, with both sides suffering. The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock pickers market. 4. Eurozone uncertainty Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy. Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line. The European economy may also be slowing, Mr Beauchamp warns. A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.  WandaVision Starring: Elizabeth Olsen, Paul Bettany Directed by: Matt Shakman Rating: Four stars  WandaVision Starring: Elizabeth Olsen, Paul Bettany Directed by: Matt Shakman Rating: Four stars  WandaVision Starring: Elizabeth Olsen, Paul Bettany Directed by: Matt Shakman Rating: Four stars  WandaVision Starring: Elizabeth Olsen, Paul Bettany Directed by: Matt Shakman Rating: Four stars  WandaVision Starring: Elizabeth Olsen, Paul Bettany Directed by: Matt Shakman Rating: Four stars  WandaVision Starring: Elizabeth Olsen, Paul Bettany Directed by: Matt Shakman Rating: Four stars  WandaVision Starring: Elizabeth Olsen, Paul Bettany Directed by: Matt Shakman Rating: Four stars  WandaVision Starring: Elizabeth Olsen, Paul Bettany Directed by: Matt Shakman Rating: Four stars  WandaVision Starring: Elizabeth Olsen, Paul Bettany Directed by: Matt Shakman Rating: Four stars  WandaVision Starring: Elizabeth Olsen, Paul Bettany Directed by: Matt Shakman Rating: Four stars  WandaVision Starring: Elizabeth Olsen, Paul Bettany Directed by: Matt Shakman Rating: Four stars  WandaVision Starring: Elizabeth Olsen, Paul Bettany Directed by: Matt Shakman Rating: Four stars  WandaVision Starring: Elizabeth Olsen, Paul Bettany Directed by: Matt Shakman Rating: Four stars  WandaVision Starring: Elizabeth Olsen, Paul Bettany Directed by: Matt Shakman Rating: Four stars  WandaVision Starring: Elizabeth Olsen, Paul Bettany Directed by: Matt Shakman Rating: Four stars  WandaVision Starring: Elizabeth Olsen, Paul Bettany Directed by: Matt Shakman Rating: Four stars  The lowdown Rating: 4/5  The lowdown Rating: 4/5  The lowdown Rating: 4/5  The lowdown Rating: 4/5  The lowdown Rating: 4/5  The lowdown Rating: 4/5  The lowdown Rating: 4/5  The lowdown Rating: 4/5  The lowdown Rating: 4/5  The lowdown Rating: 4/5  The lowdown Rating: 4/5  The lowdown Rating: 4/5  The lowdown Rating: 4/5  The lowdown Rating: 4/5  The lowdown Rating: 4/5  The lowdown Rating: 4/5  MATCH INFO Tottenham Hotspur 3 (Son 1', Kane 8' & 16') West Ham United 3 (Balbuena 82', Sanchez og 85', Lanzini 90'+4) Man of the match Harry Kane  MATCH INFO Tottenham Hotspur 3 (Son 1', Kane 8' & 16') West Ham United 3 (Balbuena 82', Sanchez og 85', Lanzini 90'+4) Man of the match Harry Kane  MATCH INFO Tottenham Hotspur 3 (Son 1', Kane 8' & 16') West Ham United 3 (Balbuena 82', Sanchez og 85', Lanzini 90'+4) Man of the match Harry Kane  MATCH INFO Tottenham Hotspur 3 (Son 1', Kane 8' & 16') West Ham United 3 (Balbuena 82', Sanchez og 85', Lanzini 90'+4) Man of the match Harry Kane  MATCH INFO Tottenham Hotspur 3 (Son 1', Kane 8' & 16') West Ham United 3 (Balbuena 82', Sanchez og 85', Lanzini 90'+4) Man of the match Harry Kane  MATCH INFO Tottenham Hotspur 3 (Son 1', Kane 8' & 16') West Ham United 3 (Balbuena 82', Sanchez og 85', Lanzini 90'+4) Man of the match Harry Kane  MATCH INFO Tottenham Hotspur 3 (Son 1', Kane 8' & 16') West Ham United 3 (Balbuena 82', Sanchez og 85', Lanzini 90'+4) Man of the match Harry Kane  MATCH INFO Tottenham Hotspur 3 (Son 1', Kane 8' & 16') West Ham United 3 (Balbuena 82', Sanchez og 85', Lanzini 90'+4) Man of the match Harry Kane  MATCH INFO Tottenham Hotspur 3 (Son 1', Kane 8' & 16') West Ham United 3 (Balbuena 82', Sanchez og 85', Lanzini 90'+4) Man of the match Harry Kane  MATCH INFO Tottenham Hotspur 3 (Son 1', Kane 8' & 16') West Ham United 3 (Balbuena 82', Sanchez og 85', Lanzini 90'+4) Man of the match Harry Kane  MATCH INFO Tottenham Hotspur 3 (Son 1', Kane 8' & 16') West Ham United 3 (Balbuena 82', Sanchez og 85', Lanzini 90'+4) Man of the match Harry Kane  MATCH INFO Tottenham Hotspur 3 (Son 1', Kane 8' & 16') West Ham United 3 (Balbuena 82', Sanchez og 85', Lanzini 90'+4) Man of the match Harry Kane  MATCH INFO Tottenham Hotspur 3 (Son 1', Kane 8' & 16') West Ham United 3 (Balbuena 82', Sanchez og 85', Lanzini 90'+4) Man of the match Harry Kane  MATCH INFO Tottenham Hotspur 3 (Son 1', Kane 8' & 16') West Ham United 3 (Balbuena 82', Sanchez og 85', Lanzini 90'+4) Man of the match Harry Kane  MATCH INFO Tottenham Hotspur 3 (Son 1', Kane 8' & 16') West Ham United 3 (Balbuena 82', Sanchez og 85', Lanzini 90'+4) Man of the match Harry Kane  MATCH INFO Tottenham Hotspur 3 (Son 1', Kane 8' & 16') West Ham United 3 (Balbuena 82', Sanchez og 85', Lanzini 90'+4) Man of the match Harry Kane  Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai  Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai  Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai  Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai  Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai  Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai  Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai  Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai  Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai  Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai  Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai  Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai  Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai  Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai  Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai  Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai  Madrid Open schedule Men's semi-finals Novak Djokovic (1) v Dominic Thiem (5) from 6pm Stefanos Tsitsipas (8) v Rafael Nadal (2) from 11pm Women's final Simona Halep (3) v Kiki Bertens (7) from 8.30pm  Madrid Open schedule Men's semi-finals Novak Djokovic (1) v Dominic Thiem (5) from 6pm Stefanos Tsitsipas (8) v Rafael Nadal (2) from 11pm Women's final Simona Halep (3) v Kiki Bertens (7) from 8.30pm  Madrid Open schedule Men's semi-finals Novak Djokovic (1) v Dominic Thiem (5) from 6pm Stefanos Tsitsipas (8) v Rafael Nadal (2) from 11pm Women's final Simona Halep (3) v Kiki Bertens (7) from 8.30pm  Madrid Open schedule Men's semi-finals Novak Djokovic (1) v Dominic Thiem (5) from 6pm Stefanos Tsitsipas (8) v Rafael Nadal (2) from 11pm Women's final Simona Halep (3) v Kiki Bertens (7) from 8.30pm  Madrid Open schedule Men's semi-finals Novak Djokovic (1) v Dominic Thiem (5) from 6pm Stefanos Tsitsipas (8) v Rafael Nadal (2) from 11pm Women's final Simona Halep (3) v Kiki Bertens (7) from 8.30pm  Madrid Open schedule Men's semi-finals Novak Djokovic (1) v Dominic Thiem (5) from 6pm Stefanos Tsitsipas (8) v Rafael Nadal (2) from 11pm Women's final Simona Halep (3) v Kiki Bertens (7) from 8.30pm  Madrid Open schedule Men's semi-finals Novak Djokovic (1) v Dominic Thiem (5) from 6pm Stefanos Tsitsipas (8) v Rafael Nadal (2) from 11pm Women's final Simona Halep (3) v Kiki Bertens (7) from 8.30pm  Madrid Open schedule Men's semi-finals Novak Djokovic (1) v Dominic Thiem (5) from 6pm Stefanos Tsitsipas (8) v Rafael Nadal (2) from 11pm Women's final Simona Halep (3) v Kiki Bertens (7) from 8.30pm  Madrid Open schedule Men's semi-finals Novak Djokovic (1) v Dominic Thiem (5) from 6pm Stefanos Tsitsipas (8) v Rafael Nadal (2) from 11pm Women's final Simona Halep (3) v Kiki Bertens (7) from 8.30pm  Madrid Open schedule Men's semi-finals Novak Djokovic (1) v Dominic Thiem (5) from 6pm Stefanos Tsitsipas (8) v Rafael Nadal (2) from 11pm Women's final Simona Halep (3) v Kiki Bertens (7) from 8.30pm  Madrid Open schedule Men's semi-finals Novak Djokovic (1) v Dominic Thiem (5) from 6pm Stefanos Tsitsipas (8) v Rafael Nadal (2) from 11pm Women's final Simona Halep (3) v Kiki Bertens (7) from 8.30pm  Madrid Open schedule Men's semi-finals Novak Djokovic (1) v Dominic Thiem (5) from 6pm Stefanos Tsitsipas (8) v Rafael Nadal (2) from 11pm Women's final Simona Halep (3) v Kiki Bertens (7) from 8.30pm  Madrid Open schedule Men's semi-finals Novak Djokovic (1) v Dominic Thiem (5) from 6pm Stefanos Tsitsipas (8) v Rafael Nadal (2) from 11pm Women's final Simona Halep (3) v Kiki Bertens (7) from 8.30pm  Madrid Open schedule Men's semi-finals Novak Djokovic (1) v Dominic Thiem (5) from 6pm Stefanos Tsitsipas (8) v Rafael Nadal (2) from 11pm Women's final Simona Halep (3) v Kiki Bertens (7) from 8.30pm  Madrid Open schedule Men's semi-finals Novak Djokovic (1) v Dominic Thiem (5) from 6pm Stefanos Tsitsipas (8) v Rafael Nadal (2) from 11pm Women's final Simona Halep (3) v Kiki Bertens (7) from 8.30pm  Madrid Open schedule Men's semi-finals Novak Djokovic (1) v Dominic Thiem (5) from 6pm Stefanos Tsitsipas (8) v Rafael Nadal (2) from 11pm Women's final Simona Halep (3) v Kiki Bertens (7) from 8.30pm  The specs: 2017 Porsche 718 Cayman Price, base / as tested Dh222,500 / Dh296,870 Engine 2.0L, flat four-cylinder Transmission Seven-speed PDK Power 300hp @ 6,500rpm Torque 380hp @ 1,950rpm Fuel economy, combined 6.9L / 100km  The specs: 2017 Porsche 718 Cayman Price, base / as tested Dh222,500 / Dh296,870 Engine 2.0L, flat four-cylinder Transmission Seven-speed PDK Power 300hp @ 6,500rpm Torque 380hp @ 1,950rpm Fuel economy, combined 6.9L / 100km  The specs: 2017 Porsche 718 Cayman Price, base / as tested Dh222,500 / Dh296,870 Engine 2.0L, flat four-cylinder Transmission Seven-speed PDK Power 300hp @ 6,500rpm Torque 380hp @ 1,950rpm Fuel economy, combined 6.9L / 100km  The specs: 2017 Porsche 718 Cayman Price, base / as tested Dh222,500 / Dh296,870 Engine 2.0L, flat four-cylinder Transmission Seven-speed PDK Power 300hp @ 6,500rpm Torque 380hp @ 1,950rpm Fuel economy, combined 6.9L / 100km  The specs: 2017 Porsche 718 Cayman Price, base / as tested Dh222,500 / Dh296,870 Engine 2.0L, flat four-cylinder Transmission Seven-speed PDK Power 300hp @ 6,500rpm Torque 380hp @ 1,950rpm Fuel economy, combined 6.9L / 100km  The specs: 2017 Porsche 718 Cayman Price, base / as tested Dh222,500 / Dh296,870 Engine 2.0L, flat four-cylinder Transmission Seven-speed PDK Power 300hp @ 6,500rpm Torque 380hp @ 1,950rpm Fuel economy, combined 6.9L / 100km  The specs: 2017 Porsche 718 Cayman Price, base / as tested Dh222,500 / Dh296,870 Engine 2.0L, flat four-cylinder Transmission Seven-speed PDK Power 300hp @ 6,500rpm Torque 380hp @ 1,950rpm Fuel economy, combined 6.9L / 100km  The specs: 2017 Porsche 718 Cayman Price, base / as tested Dh222,500 / Dh296,870 Engine 2.0L, flat four-cylinder Transmission Seven-speed PDK Power 300hp @ 6,500rpm Torque 380hp @ 1,950rpm Fuel economy, combined 6.9L / 100km  The specs: 2017 Porsche 718 Cayman Price, base / as tested Dh222,500 / Dh296,870 Engine 2.0L, flat four-cylinder Transmission Seven-speed PDK Power 300hp @ 6,500rpm Torque 380hp @ 1,950rpm Fuel economy, combined 6.9L / 100km  The specs: 2017 Porsche 718 Cayman Price, base / as tested Dh222,500 / Dh296,870 Engine 2.0L, flat four-cylinder Transmission Seven-speed PDK Power 300hp @ 6,500rpm Torque 380hp @ 1,950rpm Fuel economy, combined 6.9L / 100km  The specs: 2017 Porsche 718 Cayman Price, base / as tested Dh222,500 / Dh296,870 Engine 2.0L, flat four-cylinder Transmission Seven-speed PDK Power 300hp @ 6,500rpm Torque 380hp @ 1,950rpm Fuel economy, combined 6.9L / 100km  The specs: 2017 Porsche 718 Cayman Price, base / as tested Dh222,500 / Dh296,870 Engine 2.0L, flat four-cylinder Transmission Seven-speed PDK Power 300hp @ 6,500rpm Torque 380hp @ 1,950rpm Fuel economy, combined 6.9L / 100km  The specs: 2017 Porsche 718 Cayman Price, base / as tested Dh222,500 / Dh296,870 Engine 2.0L, flat four-cylinder Transmission Seven-speed PDK Power 300hp @ 6,500rpm Torque 380hp @ 1,950rpm Fuel economy, combined 6.9L / 100km  The specs: 2017 Porsche 718 Cayman Price, base / as tested Dh222,500 / Dh296,870 Engine 2.0L, flat four-cylinder Transmission Seven-speed PDK Power 300hp @ 6,500rpm Torque 380hp @ 1,950rpm Fuel economy, combined 6.9L / 100km  The specs: 2017 Porsche 718 Cayman Price, base / as tested Dh222,500 / Dh296,870 Engine 2.0L, flat four-cylinder Transmission Seven-speed PDK Power 300hp @ 6,500rpm Torque 380hp @ 1,950rpm Fuel economy, combined 6.9L / 100km  The specs: 2017 Porsche 718 Cayman Price, base / as tested Dh222,500 / Dh296,870 Engine 2.0L, flat four-cylinder Transmission Seven-speed PDK Power 300hp @ 6,500rpm Torque 380hp @ 1,950rpm Fuel economy, combined 6.9L / 100km  SPECS Mini John Cooper Works Clubman and Mini John Cooper Works Countryman Engine: two-litre 4-cylinder turbo Transmission: nine-speed automatic Power: 306hp Torque: 450Nm Price: JCW Clubman, Dh220,500; JCW Countryman, Dh225,500  SPECS Mini John Cooper Works Clubman and Mini John Cooper Works Countryman Engine: two-litre 4-cylinder turbo Transmission: nine-speed automatic Power: 306hp Torque: 450Nm Price: JCW Clubman, Dh220,500; JCW Countryman, Dh225,500  SPECS Mini John Cooper Works Clubman and Mini John Cooper Works Countryman Engine: two-litre 4-cylinder turbo Transmission: nine-speed automatic Power: 306hp Torque: 450Nm Price: JCW Clubman, Dh220,500; JCW Countryman, Dh225,500  SPECS Mini John Cooper Works Clubman and Mini John Cooper Works Countryman Engine: two-litre 4-cylinder turbo Transmission: nine-speed automatic Power: 306hp Torque: 450Nm Price: JCW Clubman, Dh220,500; JCW Countryman, Dh225,500  SPECS Mini John Cooper Works Clubman and Mini John Cooper Works Countryman Engine: two-litre 4-cylinder turbo Transmission: nine-speed automatic Power: 306hp Torque: 450Nm Price: JCW Clubman, Dh220,500; JCW Countryman, Dh225,500  SPECS Mini John Cooper Works Clubman and Mini John Cooper Works Countryman Engine: two-litre 4-cylinder turbo Transmission: nine-speed automatic Power: 306hp Torque: 450Nm Price: JCW Clubman, Dh220,500; JCW Countryman, Dh225,500  SPECS Mini John Cooper Works Clubman and Mini John Cooper Works Countryman Engine: two-litre 4-cylinder turbo Transmission: nine-speed automatic Power: 306hp Torque: 450Nm Price: JCW Clubman, Dh220,500; JCW Countryman, Dh225,500  SPECS Mini John Cooper Works Clubman and Mini John Cooper Works Countryman Engine: two-litre 4-cylinder turbo Transmission: nine-speed automatic Power: 306hp Torque: 450Nm Price: JCW Clubman, Dh220,500; JCW Countryman, Dh225,500  SPECS Mini John Cooper Works Clubman and Mini John Cooper Works Countryman Engine: two-litre 4-cylinder turbo Transmission: nine-speed automatic Power: 306hp Torque: 450Nm Price: JCW Clubman, Dh220,500; JCW Countryman, Dh225,500  SPECS Mini John Cooper Works Clubman and Mini John Cooper Works Countryman Engine: two-litre 4-cylinder turbo Transmission: nine-speed automatic Power: 306hp Torque: 450Nm Price: JCW Clubman, Dh220,500; JCW Countryman, Dh225,500  SPECS Mini John Cooper Works Clubman and Mini John Cooper Works Countryman Engine: two-litre 4-cylinder turbo Transmission: nine-speed automatic Power: 306hp Torque: 450Nm Price: JCW Clubman, Dh220,500; JCW Countryman, Dh225,500  SPECS Mini John Cooper Works Clubman and Mini John Cooper Works Countryman Engine: two-litre 4-cylinder turbo Transmission: nine-speed automatic Power: 306hp Torque: 450Nm Price: JCW Clubman, Dh220,500; JCW Countryman, Dh225,500  SPECS Mini John Cooper Works Clubman and Mini John Cooper Works Countryman Engine: two-litre 4-cylinder turbo Transmission: nine-speed automatic Power: 306hp Torque: 450Nm Price: JCW Clubman, Dh220,500; JCW Countryman, Dh225,500  SPECS Mini John Cooper Works Clubman and Mini John Cooper Works Countryman Engine: two-litre 4-cylinder turbo Transmission: nine-speed automatic Power: 306hp Torque: 450Nm Price: JCW Clubman, Dh220,500; JCW Countryman, Dh225,500  SPECS Mini John Cooper Works Clubman and Mini John Cooper Works Countryman Engine: two-litre 4-cylinder turbo Transmission: nine-speed automatic Power: 306hp Torque: 450Nm Price: JCW Clubman, Dh220,500; JCW Countryman, Dh225,500  SPECS Mini John Cooper Works Clubman and Mini John Cooper Works Countryman Engine: two-litre 4-cylinder turbo Transmission: nine-speed automatic Power: 306hp Torque: 450Nm Price: JCW Clubman, Dh220,500; JCW Countryman, Dh225,500  The specs Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder Power: 220 and 280 horsepower Torque: 350 and 360Nm Transmission: eight-speed automatic Price: from Dh136,521 + VAT and Dh166,464 + VAT On sale: now  The specs Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder Power: 220 and 280 horsepower Torque: 350 and 360Nm Transmission: eight-speed automatic Price: from Dh136,521 + VAT and Dh166,464 + VAT On sale: now  The specs Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder Power: 220 and 280 horsepower Torque: 350 and 360Nm Transmission: eight-speed automatic Price: from Dh136,521 + VAT and Dh166,464 + VAT On sale: now  The specs Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder Power: 220 and 280 horsepower Torque: 350 and 360Nm Transmission: eight-speed automatic Price: from Dh136,521 + VAT and Dh166,464 + VAT On sale: now  The specs Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder Power: 220 and 280 horsepower Torque: 350 and 360Nm Transmission: eight-speed automatic Price: from Dh136,521 + VAT and Dh166,464 + VAT On sale: now  The specs Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder Power: 220 and 280 horsepower Torque: 350 and 360Nm Transmission: eight-speed automatic Price: from Dh136,521 + VAT and Dh166,464 + VAT On sale: now  The specs Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder Power: 220 and 280 horsepower Torque: 350 and 360Nm Transmission: eight-speed automatic Price: from Dh136,521 + VAT and Dh166,464 + VAT On sale: now  The specs Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder Power: 220 and 280 horsepower Torque: 350 and 360Nm Transmission: eight-speed automatic Price: from Dh136,521 + VAT and Dh166,464 + VAT On sale: now  The specs Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder Power: 220 and 280 horsepower Torque: 350 and 360Nm Transmission: eight-speed automatic Price: from Dh136,521 + VAT and Dh166,464 + VAT On sale: now  The specs Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder Power: 220 and 280 horsepower Torque: 350 and 360Nm Transmission: eight-speed automatic Price: from Dh136,521 + VAT and Dh166,464 + VAT On sale: now  The specs Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder Power: 220 and 280 horsepower Torque: 350 and 360Nm Transmission: eight-speed automatic Price: from Dh136,521 + VAT and Dh166,464 + VAT On sale: now  The specs Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder Power: 220 and 280 horsepower Torque: 350 and 360Nm Transmission: eight-speed automatic Price: from Dh136,521 + VAT and Dh166,464 + VAT On sale: now  The specs Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder Power: 220 and 280 horsepower Torque: 350 and 360Nm Transmission: eight-speed automatic Price: from Dh136,521 + VAT and Dh166,464 + VAT On sale: now  The specs Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder Power: 220 and 280 horsepower Torque: 350 and 360Nm Transmission: eight-speed automatic Price: from Dh136,521 + VAT and Dh166,464 + VAT On sale: now  The specs Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder Power: 220 and 280 horsepower Torque: 350 and 360Nm Transmission: eight-speed automatic Price: from Dh136,521 + VAT and Dh166,464 + VAT On sale: now  The specs Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder Power: 220 and 280 horsepower Torque: 350 and 360Nm Transmission: eight-speed automatic Price: from Dh136,521 + VAT and Dh166,464 + VAT On sale: now  The burning issue The internal combustion engine is facing a watershed moment  major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. Read part three: the age of the electric vehicle begins Read part two: how climate change drove the race for an alternative Read part one: how cars came to the UAE  The burning issue The internal combustion engine is facing a watershed moment  major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. Read part three: the age of the electric vehicle begins Read part two: how climate change drove the race for an alternative Read part one: how cars came to the UAE  The burning issue The internal combustion engine is facing a watershed moment  major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. Read part three: the age of the electric vehicle begins Read part two: how climate change drove the race for an alternative Read part one: how cars came to the UAE  The burning issue The internal combustion engine is facing a watershed moment  major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. Read part three: the age of the electric vehicle begins Read part two: how climate change drove the race for an alternative Read part one: how cars came to the UAE  The burning issue The internal combustion engine is facing a watershed moment  major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. Read part three: the age of the electric vehicle begins Read part two: how climate change drove the race for an alternative Read part one: how cars came to the UAE  The burning issue The internal combustion engine is facing a watershed moment  major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. Read part three: the age of the electric vehicle begins Read part two: how climate change drove the race for an alternative Read part one: how cars came to the UAE  The burning issue The internal combustion engine is facing a watershed moment  major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. Read part three: the age of the electric vehicle begins Read part two: how climate change drove the race for an alternative Read part one: how cars came to the UAE  The burning issue The internal combustion engine is facing a watershed moment  major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. Read part three: the age of the electric vehicle begins Read part two: how climate change drove the race for an alternative Read part one: how cars came to the UAE  The burning issue The internal combustion engine is facing a watershed moment  major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. Read part three: the age of the electric vehicle begins Read part two: how climate change drove the race for an alternative Read part one: how cars came to the UAE  The burning issue The internal combustion engine is facing a watershed moment  major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. Read part three: the age of the electric vehicle begins Read part two: how climate change drove the race for an alternative Read part one: how cars came to the UAE  The burning issue The internal combustion engine is facing a watershed moment  major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. Read part three: the age of the electric vehicle begins Read part two: how climate change drove the race for an alternative Read part one: how cars came to the UAE  The burning issue The internal combustion engine is facing a watershed moment  major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. Read part three: the age of the electric vehicle begins Read part two: how climate change drove the race for an alternative Read part one: how cars came to the UAE  The burning issue The internal combustion engine is facing a watershed moment  major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. Read part three: the age of the electric vehicle begins Read part two: how climate change drove the race for an alternative Read part one: how cars came to the UAE  The burning issue The internal combustion engine is facing a watershed moment  major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. Read part three: the age of the electric vehicle begins Read part two: how climate change drove the race for an alternative Read part one: how cars came to the UAE  The burning issue The internal combustion engine is facing a watershed moment  major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. Read part three: the age of the electric vehicle begins Read part two: how climate change drove the race for an alternative Read part one: how cars came to the UAE  The burning issue The internal combustion engine is facing a watershed moment  major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. Read part three: the age of the electric vehicle begins Read part two: how climate change drove the race for an alternative Read part one: how cars came to the UAE  Mercedes V250 Avantgarde specs Engine: 2.0-litre in-line four-cylinder turbo Gearbox: 7-speed automatic Power: 211hp at 5,500rpm Torque: 350Nm Fuel economy, combined: 6.0 l/100 km Price: Dh235,000  Mercedes V250 Avantgarde specs Engine: 2.0-litre in-line four-cylinder turbo Gearbox: 7-speed automatic Power: 211hp at 5,500rpm Torque: 350Nm Fuel economy, combined: 6.0 l/100 km Price: Dh235,000  Mercedes V250 Avantgarde specs Engine: 2.0-litre in-line four-cylinder turbo Gearbox: 7-speed automatic Power: 211hp at 5,500rpm Torque: 350Nm Fuel economy, combined: 6.0 l/100 km Price: Dh235,000  Mercedes V250 Avantgarde specs Engine: 2.0-litre in-line four-cylinder turbo Gearbox: 7-speed automatic Power: 211hp at 5,500rpm Torque: 350Nm Fuel economy, combined: 6.0 l/100 km Price: Dh235,000  Mercedes V250 Avantgarde specs Engine: 2.0-litre in-line four-cylinder turbo Gearbox: 7-speed automatic Power: 211hp at 5,500rpm Torque: 350Nm Fuel economy, combined: 6.0 l/100 km Price: Dh235,000  Mercedes V250 Avantgarde specs Engine: 2.0-litre in-line four-cylinder turbo Gearbox: 7-speed automatic Power: 211hp at 5,500rpm Torque: 350Nm Fuel economy, combined: 6.0 l/100 km Price: Dh235,000  Mercedes V250 Avantgarde specs Engine: 2.0-litre in-line four-cylinder turbo Gearbox: 7-speed automatic Power: 211hp at 5,500rpm Torque: 350Nm Fuel economy, combined: 6.0 l/100 km Price: Dh235,000  Mercedes V250 Avantgarde specs Engine: 2.0-litre in-line four-cylinder turbo Gearbox: 7-speed automatic Power: 211hp at 5,500rpm Torque: 350Nm Fuel economy, combined: 6.0 l/100 km Price: Dh235,000  Mercedes V250 Avantgarde specs Engine: 2.0-litre in-line four-cylinder turbo Gearbox: 7-speed automatic Power: 211hp at 5,500rpm Torque: 350Nm Fuel economy, combined: 6.0 l/100 km Price: Dh235,000  Mercedes V250 Avantgarde specs Engine: 2.0-litre in-line four-cylinder turbo Gearbox: 7-speed automatic Power: 211hp at 5,500rpm Torque: 350Nm Fuel economy, combined: 6.0 l/100 km Price: Dh235,000  Mercedes V250 Avantgarde specs Engine: 2.0-litre in-line four-cylinder turbo Gearbox: 7-speed automatic Power: 211hp at 5,500rpm Torque: 350Nm Fuel economy, combined: 6.0 l/100 km Price: Dh235,000  Mercedes V250 Avantgarde specs Engine: 2.0-litre in-line four-cylinder turbo Gearbox: 7-speed automatic Power: 211hp at 5,500rpm Torque: 350Nm Fuel economy, combined: 6.0 l/100 km Price: Dh235,000  Mercedes V250 Avantgarde specs Engine: 2.0-litre in-line four-cylinder turbo Gearbox: 7-speed automatic Power: 211hp at 5,500rpm Torque: 350Nm Fuel economy, combined: 6.0 l/100 km Price: Dh235,000  Mercedes V250 Avantgarde specs Engine: 2.0-litre in-line four-cylinder turbo Gearbox: 7-speed automatic Power: 211hp at 5,500rpm Torque: 350Nm Fuel economy, combined: 6.0 l/100 km Price: Dh235,000  Mercedes V250 Avantgarde specs Engine: 2.0-litre in-line four-cylinder turbo Gearbox: 7-speed automatic Power: 211hp at 5,500rpm Torque: 350Nm Fuel economy, combined: 6.0 l/100 km Price: Dh235,000