formation has been distributed by Deutsche Bank AG. Related financial products or services are only available to Professional Clients, as defined by the Dubai Financial Services Authority. Risks to Fixed Income Positions Macroeconomic fluctuations often account for most of the risks associated with exposures to instruments

and Limited. The information in Morgan Stanley Research is being communicated by Morgan Stanley & Co. International plc (DIFC Branch). regulated by the Dubai Financial Services Authority (the DFSA). and is directed at Professional Clients only. as defined by the DFSA_ The financial products or financial services to which th

and Limited. The information in Morgan Stanley Research is being communicated by Morgan Stanley & Co. International plc (DIFC Branch). regulated by the Dubai Financial Services Authority (the DFSA). and is directed at Professional Clients only. as defined by the DFSA. The financial products or financial services to which th

372 Riyadh, Saudi Arabia. United Arab Emirates: Deutsche Bank AG in the Dubai International Financial Centre (registered no. 00045) is regulated by the Dubai Financial Services Authority. Deutsche Bank AG - DIFC Branch may only undertake the financial services activities that fall within the scope of its existing DFSA lic

DIFC), the state news agency WAM reported on Monday, without giving a reason for the change. Abdullah Mohammed Saleh, who has served as chairman of the Dubai Financial Services Authority -- DIFC's regulator -- was appointed as DIFC's governor by the emirate's ruler, Sheikh Mohammed bin Rashid al-Maktoum, the agency reporte