Bloomberg The UK’s booming property market is headed for a slowdown as a squeeze on living standards and rising interest rates sap demand, according to Nationwide Building Society. The average price of a home rises 0.7% in October, the mortgage lender said, even after the ending of a temporary tax cut imposed by the government last year. Economists had expected ...

Bloomberg Quebec’s economic recovery has opened room for the government to dole out cash to dull the bite of inflation, help train workers for sought-after jobs and shore up the Canadian province’s bottom line. In a budget update in Quebec City, the government said it expects a deficit of $5.4 billion in current fiscal year, nearly half its March estimate. ...

Bloomberg Argentina’s tech sector is a bright spot that’s adding jobs even as many companies shut down in a hostile environment of anti-business policies, high inflation and lack of access to international credit markets. Tech is the only major private industry that’s gained new employers since a three-year recession began in 2018, according to data from tax agency AFIP. Manufacturing, ...

Bloomberg Samsung Electronics Co has decided to build an advanced US chip plant in Texas, a win for the Biden administration as it prioritises supply chain security and greater semiconductor capacity on American soil. South Korea’s largest company has decided on the city of Taylor, roughly 30 miles from its existing giant manufacturing hub in Austin, a person familiar with ...

Bloomberg Xiaomi Corp. recorded its slowest pace of quarterly sales growth since early 2020 after supply chain mayhem choked off the flow of vital components and rivals like Apple Inc eroded its market share. Shares in China’s largest smartphone maker slid more than 5% in Hong Kong to their lowest since September 2020, reflecting lingering concern about a global chip ...

Bloomberg The self-driving company founded by Russian technology giant Yandex NV said its new generation of vehicles will rely on sensors developed in-house to better see the road in the country’s often harsh driving conditions. A software-defined lidar system capable of seeing 500 meters (547 yards) away and operating in frigid weather will be the main sensor on new cars ...

Bloomberg Dell Technologies Inc posted revenue that beat Wall Street estimates, powered by corporate and consumer spending on personal computers, which both reached company records in the fiscal third quarter. Sales in the period ended October 29 rise 21% to $28.4 billion, the Round Rock, Texas-based company said in a statement. That compares with analysts’ average estimate of $26.8 billion, ...

Ankara / WAM The UAE announced it will establish a $10 billion investment fund in Turkey. This announcement followed the talks held in Ankara on Wednesday between His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Recep Tayyip Erdogan, President of Turkey, which aimed to support ...

Abu Dhabi / WAM On behalf of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, on Wednesday inaugurated the third ordinary session of the 17th legislative chapter of the Federal National Council (FNC), attended by the crown princes, deputy ...

DUBAI / WAM Coinciding with the launch of Expo 2020 Dubai, the largest global event and the first-of-its-kind in the Middle East, the Dubai real estate market continued to record new achievements and further growth in the field of real estate sales transactions. According to the data of the 20th edition of Mo’asher, Dubai’s official sales price index launched by ...