News

  Dubai / WAM Dubai real estate market recorded 568 sales transactions worth AED1.32 billion, in addition to 72 mortgage deals of AED673.74 million, and 12 gift deals amounting to AED30.06 million on Monday, data released by Dubai’s Land Department (DLD) showed. The sales included 532 villas and apartments worth AED1.18 billion, and 36 land plots worth AED141.76 million. The ...

  Dubai / Gulf Time Danube Properties, the UAE-based affordable housing pioneer and one of the most dynamic and popular private real estate developers in the UAE, unveiled its largest real estate project, Viewz, a set of twin high-rise towers that once complete will deliver apartments and Sky Villas, with a development value exceeding AED1.4 billion. Launched in partnership with ...

Bloomberg Chancellor Olaf Scholz is using a trip to Latin America to help Germany secure additional supplies of the lithium that car giants like Mercedes-Benz Group AG and Volkswagen AG need for their electric-vehicle batteries. Chile is the world’s second-largest supplier of lithium after Australia and much of its output is currently gobbled up by China. Scholz, who met with ...

  Bloomberg Denmark proposed to spend an extra 2.3 billion kroner ($340 million) on inflation aid, mainly targeting senior citizens. The government will now start talks with opposition parties in parliament to reach a broad deal and decide on the details, Finance Minister Nicolai Wammen told reporters in Copenhagen on Monday. Consumers in Denmark have been hit heavily by accelerating ...

  Bloomberg Germany’s economy shrank 0.2% at the end of last year — a worse outcome than previously flagged and one that makes a recession on the back of rising energy bills more likely after all. The figures Monday from the statistics office contrast with an estimate this month for output to have stagnated in the fourth quarter. They also ...

  Bloomberg Spanish inflation unexpectedly quickened in January after a five-month run of slowing price growth, prompting traders to boost their bets on how high the European Central Bank will raise interest rates. Consumer prices advanced by 5.8% from a year ago, up from the previous month’s 5.5% increase, the statistics institute in Madrid said Monday. That’s well above the ...

  Bloomberg Britain’s homebuilders have six weeks to sign a UK government contract that will commit them to repair unsafe cladding on apartment blocks — or face banishment from the housing market. The pledge will commit firms to spend an estimated £2 billion ($2.5 billion) to fix tall buildings they developed or refurbished over the past 30 years, according to ...

Bloomberg Prime Minister Rishi Sunak said he cannot raise UK taxes to fund pay rises for workers in the state-run National Health Service. “Where we are with taxes at the moment, we can’t put them up,” Sunak told an audience of health-care workers in northeastern England, adding that government spending on the NHS is at a historical high. “The pie ...

  QUITO / WAM A delegation from the Emirates News Agency (WAM) discussed ways of boosting cooperation with media organisations in Ecuador. The discussions took place during a visit that the WAM delegation, led by Mohammed Jalal Al Rayssi, Director-General of WAM, made to the cities of Quito and Guayaquil in Ecuador, to review the outcomes of the inaugural the ...

  Dubai / WAM The Federal Tax Authority (FTA) launched the ‘Tax Support’ initiative to raise tax awareness among business sectors in the UAE through direct and sustained contact, as a means to enhance compliance with tax laws and regulations. The first workshop for 2023 under the initiative was held as a collaboration between the FTA and On Time Business ...