News

Bloomberg High inflation, rising interest rates and increased economic uncertainty may be telegraphing a further slowdown in US new household formation during the closing months of 2022. A slowdown in home sales due to high mortgage rates, coupled with the latest figures from RealPage Market Analytics that show a sharp decline in apartment demand — the first since 2009 — ...

  Bloomberg China’s imports of integrated circuits declined in 2022 for the first time in almost two decades. Imports of ICs fell 15% last year to 538.4 billion units from 635.6 billion units in 2021, according to data from General Administration of Customs released Friday. That’s the first annual drop since at least 2004 when Bloomberg started tracking the data. ...

Bloomberg Germany wants to force its power-hungry data centers to harness excess heat for warming residential homes — an effort which the industry warns is likely to fall flat. The country has become one of the largest global hubs for data centers thanks to its clear data protection and security laws. Politicians are now trying to re-purpose some of their ...

  Dubai / WAM The Rashid Rover has successfully completed one month in space, travelling close to 1.34 million kilometers, the Mohammed Bin Rashid Space Centre (MBRSC) announced. The first Arab-built lunar rover designed and built in the UAE by a 100 percent Emirati team of engineers, experts, and researchers, lifted off on December 11, 2022 from Cape Canaveral Space ...

  Bloomberg Oil headed for a weekly gain, rebounding from a weak start to the year, on China’s improving demand outlook and cooling US inflation. West Texas Intermediate was steady near $79 a barrel, after advancing more than 6% this week. The Brent benchmark is poised for its strongest week since October. China is ramping up purchases of crude after ...

Abu Dhabi / WAM HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, has participated via teleconferencing in the Voice of Global South Summit, which is being hosted by India as part of its Presidency of the Group of Twenty (G20), and the UAE being invited to participate as a guest country in the upcoming ...

Abu Dhabi / WAM The UAE and the Islamic Republic of Pakistan affirmed their keenness to intensify consultations and coordination in order to strengthen their strategic partnership, with a view to developing tangible and meaningful bilateral cooperation in key areas. This came in a joint statement which the two countries issued on the occasion of the visit of Prime Minister ...

Dubai / WAM The Ministry of Energy and Infrastructure signed a memorandum of understanding (MoU) with the Department for Business, Energy & Industrial Strategy in the United Kingdom of Great Britain and Northern Ireland. The memorandum aims to exchange information, knowledge, expertise and studies in the field of energy and promote it for the vital role it plays in sustainable ...

  Dubai / WAM A total of 2,574 real estate transactions worth over AED8.1 billion were conducted during the week ending January 13, according to figures released by the Dubai Land Department (DLD). The DLD data showed 221 plots were sold for AED 1.18 billion, while 1,889 apartment and villa purchases worth AED4.93 billion were made. The top three transactions ...

  Abu Dhabi / WAM Official Airline Guides Database (OAG), the global aviation analytics group, has named Etihad Airways, the national airline of the United Arab Emirates, as the most punctual airline in the Middle East and among the most reliable in the world. In its Punctuality League rating for 2022, OAG listed Etihad as the best in the GCC ...