News

  Bloomberg The average reservation wage, or the lowest pay level that Americans would be willing to accept for a new job, rose by 5.7% from a year earlier to $72,873 in July, according to the latest labour-market survey by the Federal Reserve Bank of New York, as soaring prices change the calculus for workers. The self-reported reservation wage has ...

  Bloomberg Swedish home construction is falling amid what may be the sharpest drop in house prices since the global financial crisis. In the first six months of this year, the number of housing starts dropped by 11% compared with the year-ago period, data from Statistics Sweden showed. The data comes as Sweden’s broader housing market is showing clear signs ...

  Bloomberg The Argentine government will impose restrictions to discourage imports in the coming days and protect reserves. The government is seeking to avoid losing more dollars after the national statistics agency reported that the country’s trade deficit widened in July to $437 million. Private consultants estimate that the country’s so-called net reserves — its assets on hand, minus the ...

  Bloomberg Euro-area economic activity declined for a second month, signalling that fears of a recession may already be coming to pass as record inflation saps demand and weakness seeps into more and more sectors. While August’s drop was driven by manufacturing, the post-lockdown rebound in services like tourism almost ground to a halt as consumers face steep gains in ...

  Abu Dhabi / WAM The Arab Monetary Fund (AMF) said that the Abu Dhabi Securities Exchange (ADX) was ranked first in the Arab region in 2021, in terms of buy and sell transactions by foreign investors. In its latest report on the financial stability of Arab countries, the AMF noted that buying transactions made by foreign investors in the ...

  Abu Dhabi / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, affirmed that the UAE’s non-oil trade achieved a breakthrough during the first half of 2022, as it exceeded AED1 trillion, recording a growth rate of 17 percent over the last half of the year 2021. ...

  Dubai / WAM Dubai Cares, part of Mohammed Bin Rashid Al Maktoum Global Initiatives (MBRGI), has announced that it received an AED5 million donation from Car Fare group, a vehicle rental and leasing organisation, to empower children and youth in developing countries with access to quality education. Car Fare group’s financial support will be directed to Dubai Cares’ programmes ...

  Dubai / WAM Nakheel, the Dubai-based master developer, has unveiled a new vision for the Dubai Islands, redefining the waterfront living concept. Comprised of five islands with a total area of 17 square kilometres, Dubai Islands have been designed to enhance the wellbeing and lifestyles of residents and visitors. Aligning with Dubai 2040 Urban Master Plan, Dubai Islands (formerly ...

  Abu Dhabi / WAM Abu Dhabi Department of Energy (DoE) on Monday announced that the development of its hydrogen policy and regulatory framework aims to accelerate the UAE’s national hydrogen strategy and help the country attain global leadership in low-carbon and clean hydrogen. For the design of this regulatory framework, the DoE is working with key Abu Dhabi government ...

Abu Dhabi / WAM The Abu Dhabi Chamber of Commerce and Industry (ADCCI), in cooperation with the Abu Dhabi Department of Economic Development (Added), the Emirati Talent Competitiveness Council (Nafis), and the Ministry of Human Resources and Emiratisation (MoHRE) have organised a second session for raising awareness about the incentives of the Emirati competitiveness programme “Nafis”. The session also highlighted ...