News

  Sharjah / WAM Arada has announced the completion of the first homes in East Village, the third residential phase in its AED24 billion Sharjah megaproject Aljada. In total, 1,621 apartments have been finished across 14 buildings. Featuring 2,000 units in total, East Village is targeted at the younger generation and consists of 16 apartment blocks that are characterised by ...

Bloomberg Britain faces the bleakest two years of any major industrial nation with a recession in 2023 and the slowest growth of peers in 2024, the International Monetary Fund predicts. The UK will be the only Group of Seven member whose economy will shrink this year, with a contraction of 0.6%, the IMF said. That makes Britain’s outlook even worse ...

  Bloomberg Falling values are the latest headache for landlords in Europe who need to refinance their debt. It’s a problem for their lenders too. There’s a gap of €51 billion ($55 billion) between the amount owed by commercial property owners across Germany, France and the UK and the credit likely to be available for refinancing when the borrowings mature, ...

  Bloomberg Norway’s $1.3 trillion sovereign wealth fund reported its biggest loss since the 2008 financial crisis after markets were pummeled by faster inflation, higher credit costs and the fallout from the war in Ukraine. The fund that manages Norway’s fossil wealth lost 14.1% in 2022, equivalent to about $164 billion, according to a statement on Tuesday. It’s the world’s ...

  Bloomberg Brexit is costing the UK economy £100 billion a year ($124 billion), with the effects spanning everything from business investment to the ability of companies to hire workers. An analysis by Bloomberg Economics three years after Britain left the European Union paints a bleak picture of the damage done by the way the split has been implemented by ...

Bloomberg French labor unions are leading a second day of mass strikes and protests on Tuesday against raising the retirement age in a test of the momentum driving defiance to Emmanuel Macron’s signature economic reform. The country’s rail operator, SNCF, expects only one-third of high-speed TGVs to run and urged people to work from home. Subway and commuter trains serving ...

  Dubai / Gulf Time With the attendance of Sultan Butti bin Mejren, Director General of Dubai Land Department, Ahmed Al Bawardi, CEO of Tanami Arabia Co. and Chairman of Ektimal Sports Co., Humphrey Cobbold – Chief Executive Officer of PureGym UK and Turki Al Rajhi – Partner at Al Rajhi Holdings, PureGym Arabia, the franchise partner of PureGym Group ...

  Abu Dhabi / WAM The official visit of President His Highness Sheikh Mohamed bin Zayed Al Nahyan to the Islamic Republic of Pakistan, which was scheduled for Monday, will be postponed due to weather conditions. During the visit, UAE President and Pakistan’s Prime Minister were due to discuss areas of mutual cooperation between the UAE and Pakistan. A phone ...

  Abu Dhabi / WAM Emirates Global Aluminium (EGA) and Microsoft UAE on Monday announced their collaboration on Industry 4.0 and broader digital transformation, aiming to set global best practice for the aluminium industry while improving the sustainability of EGA’s computing operations. Both Microsoft and EGA are members of the UAE Ministry of Industry and Advanced Technology’s Industry 4.0 Champions ...

  Abu Dhabi / WAM The Abu Dhabi Securities Exchange (ADX) and Bahrain Bourse (BHB) announced on Monday that Muscat Stock Exchange (MSX) has now joined the “Tabadul” platform, the region’s first digital exchange hub, established on the mutual market access model that provides a trading network between stock exchanges regionally. As a result, MSX’s listed securities, along with those ...