News

  Bloomberg New US home construction fell in July by more than forecast to the slowest pace since early last year as builders adjusted to a pullback in demand and a pickup in the inventory. Residential starts dropped 9.6% last month to a 1.45 million annualised rate from a revised 1.6 million pace in June, according to government data. The ...

  Bloomberg Consumer price inflation cooled as gasoline prices fell by the most since the start of the pandemic, though underlying price pressures will likely push the Bank of Canada to continue delivering aggressive rate hikes. The consumer price index rose 7.6% in July from a year earlier, Statistics Canada reported in Ottawa. The inflation gauge increased 0.1% from a ...

  Bloomberg Apple Inc laid off many of its contract-based recruiters in the past week, part of a push to rein in the tech giant’s hiring and spending, according to people with knowledge of the matter. About 100 contract workers were let go in a rare move for the world’s most valuable company, said the people, who asked not to ...

  Bloomberg Denmark’s prime minister, who faces an election in coming months, is considering a cap on rising rents. Rents, which are tied to the Danish consumer price index, are rising so fast that students and other people can’t afford to pay them, Mette Frederiksen told broadcaster TV2. A cap would be temporary and could limit rental increases to 4% ...

  Bloomberg Water levels on the Rhine are set to rise over the weekend, potentially providing respite to a crisis that has snarled the shipment of energy products and other goods along one of Europe’s most important rivers. The marker at Kaub, a narrow and shallow waypoint west of Frankfurt, is set to rise to 67 centimeters, data shows. The ...

  Abu Dhabi / WAM The UAE has exceeded international rates in 11 indexes on the best expatriate destinations based on various factors, which include language, bureaucracy, professional prospects, leisure options, travel, transport, job satisfaction, safety, healthcare, digital life, housing, wages and job safety, InterNations said. The German research firm in its report titled “Expat Insider 2022” said that the ...

  Abu Dhabi / WAM Apollo, through its managed investment vehicles, has acquired an 11.1 percent minority stake in Aldar Investment Properties (AIP), a subsidiary of Abu Dhabi-listed Aldar Properties PJSC (Aldar) and the region’s largest institutional-class real estate platform, following completion of a AED1.469 billion ($400 million) transaction. The acquisition is part of the previously announced $1.4 billion investment ...

  Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a congratulatory message to President Joko Widodo of Indonesia on the occasion of his country’s Independence Day, which is marked on August 17. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has ...

Abu Dhabi / WAM Michael Bolliger, Chief Investment Officer Emerging Markets at UBS Global Wealth Management, has stated that he expects the UAE’s economy to grow by over five percent in 2022. In an interview with the Emirates News Agency (WAM), Bollinger said that the UAE’s economy grew by 3.8 percent in 2021, due to appropriate government incentives and plans ...

  Abu Dhabi / WAM Abu Dhabi Waste Management Centre (Tadweer) signed a consultancy agreement with KEO International Consultants to conduct a feasibility study for developing a project on extracting greenhouse gases from Al Dhafra landfill and converting them into environmentally-friendly energy. This aligns with the centre’s plan to achieve an efficient waste management system and use the best methods ...