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Bloomberg Australia is likely to see weaker property prices and diminished productivity under policy proposals by the opposition Labor party that’s on track to win government, says Royal Bank of Canada (RBC). House prices could fall 15 percent under plans to curb property investment tax breaks, while proposed changes to other investor perks could shave up to 0.2 percent from ...

Bloomberg The UK is planning legislation to prevent a repeat of the contagion that followed Carillion Plc’s collapse. When the construction giant failed in January, it left its 30,000 suppliers some 2 billion pounds ($2.6 billion) out of pocket after it took up to four months to pay its bills. The shockwaves reverberated through the UK economy, damaging confidence already ...

Bloomberg Apple Inc. Chief Executive Officer Tim Cook lashed into companies like Google and Facebo-ok Inc. that collect user data, equating their services to “surveillance,” as he touted the importance of privacy and legislation to protect it. The comments, given at an EU privacy conference in Brussels on Wednesday, come months after the bloc implemented strict new data protection rules ...

Bloomberg Procter & Gamble Co. has been dinged over the years for being too big, too slow and too cautious as it tried to break out of tepid growth. It has issued a rejoinder: the largest jump in five years of a key sales measure. Investors cheered the first-quarter results, which the company says is proof its turnaround is working. ...

Bloomberg The French government told companies to begin preparing for all Brexit scenarios, including no deal between the European Union and the UK. At a closed-door meeting at the finance ministry, Secretary of State Agnes Pannier-Runacher recommended business leaders start identifying measures to limit the impact of Brexit and begin alerting their suppliers. France hopes Michel Barnier’s efforts to reach ...

Bloomberg UK employers’ economic confidence is weakening as the nation prepares to leave the European Union. The net balance of employers with a positive outlook for the economy fell to the lowest since February, the the Recruitment and Employment Confederation said on Wednesday. However, the confidence of employers to make hiring and investment decisions remained positive during the three months ...

Bloomberg Germany’s economy started the fourth quarter on the back foot, with private-sector activity slowing to the weakest since 2015 and factory orders contracting for the first time in four years. The composite Purchasing Managers’ Index for Europe’s largest economy dropped to 52.7 in October from 55.0 last month, according to a flash reading released by IHS Markit on Wednesday. ...

Dubai / WAM Saif Badr Al Qubaisi, General Manager of Abu Dhabi City Municipality (ADM) and Ali Mohammed Sadiq Al Baluchi, Chairman of Ghantoot Transport and General Contracting LLC, signed a partnership agreement for the construction of Bazar Al Mafraq at Al Mafraq Industrial Area. “The signing of the agreement is an integral part of a series of agreements signed ...

Bloomberg First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest and safest financial institutions, reported its financial results for the nine-month period ending on September 30, on Monday. According to FAB financial statement, the group posted a net profit of AED9.1 billion, up 12 percent year-on-year; annualised Earning Per Share (EPS) at AED1.07; third ...

Emirates Business The Federal Tax Authority (FTA) has announced that tax refund for tourists scheme goes into effect on November 18, allowing eligible tourists to request refunds of the value added tax (VAT) incurred on their purchases. The first phase will see the digital system of the tax refund for tourists scheme implemented at Abu Dhabi, Dubai and Sharjah International ...