News

  Bloomberg Commercial real estate lending bounced back to pre-pandemic levels in 2021, ending more than a year of Covid-driven turbulence. New lending volume rose 48% year-on-year to 49.8 billion pounds ($62 billion), according to a survey of 76 major UK lenders by Bayes Business School. The data also shows that 2021 was the strongest year in the market since ...

  Bloomberg Telecom Italia SpA is near to signing a memorandum of understanding with state lender Cassa Depositi e Prestiti SpA — the carrier’s second-largest investor — for a national single-network project that would merge the company’s landline grid with the one owned by smaller rival Open Fiber. “I’m confident we can reach an agreement on the single network in ...

  Bloomberg Facebook parent company Meta Platforms Inc. is slowing or pausing hiring for some mid- to senior-level positions, part of a broader plan to cut costs and cope with the challenges facing the social media giant. “We regularly re-evaluate our talent pipeline according to our business needs and in light of the expense guidance given for this earnings period, ...

  Bloomberg Mexico’s government has struck a deal with leading companies to temporarily cap prices on 24 food and other basic products in an effort to temper inflation that has surged to two-decade highs. The plan, which was first reported by Bloomberg News, will initially last six months and includes the reduction of tariffs of some food products to zero ...

  Abu Dhabi / WAM The Abu Dhabi Emergency, Crisis and Disasters Committee has approved a return to 100 percent operating capacity in all commercial activities, tourist attractions, and events in the emirate. It has also approved an extension of the green pass validity period from 14 to 30 days for those who are fully vaccinated. Continued wearing of masks ...

  DUBAI / WAM The Dubai real estate and properties transactions valued at AED6.6 billion in total during the week ending April 29. The sum of transactions was 2,259. 197 plots were sold for AED1.15 billion, 1,628 apartments and villas were sold for AED3.52 billion. The top three transactions were a land in Business Bay sold for AED72.24 million, followed ...

Abu Dhabi / WAM Abu Dhabi Ports Group (AD Ports Group), a leading facilitator of trade and logistics, has appointed a consortium of Jordan’s Dar Al Omran and Maisam Group to develop the masterplan for the Marsa Zayed mega-project in Aqaba, in the Hashemite Kingdom of Jordan. The appointment follows AD Ports group’s signing of multiple agreements with Aqaba Development ...

  DUBAI / WAM Dubai Financial Market Company announced its consolidated financial results for the first quarter of the year ending March 31, posting a 17% increase in its net profit to AED27.5 million, compared to AED23.4 million during the corresponding period of 2021. The company’s total consolidated revenue has increased by 7% to AED78.6 million in Q1 of 2022 ...

  DUBAI / WAM Nasdaq Dubai, the region’s international financial exchange, on Friday welcomed the listing of a $1.6 billion sukuk by the Islamic Development Bank (IsDB). The first public Sukuk issuance from IsDB in 2022 strengthens its position as the largest supranational institution issuing sukuk on Nasdaq Dubai with a total value of $18.04 billion currently listed through 13 ...

  Abu Dhabi / WAM The Ministry of Finance (MoF) has launched the digital public consultation initiative on its website and the UAE Government portal, ahead of the official release of Corporate Tax relevant legislation. The initiative aims at consulting with the business community and relevant stakeholders to acquire their views and comments on Corporate Tax, to refine and implement ...