Uncategorized

Bloomberg The only thing that might be colder than Toronto in January is the Canadian city’s housing market. While the bleak mid-winter is never the best time to sell a home in Canada, a string of open houses in the country’s largest city were chillingly empty on a recent afternoon. Tougher mortgage rules went into effect on January 1 just …

Bloomberg A clear winner is emerging among Chinese equities this year, whether in Hong Kong or Shanghai: real estate. Property firms account for eight of the 10 best performers on MSCI Inc.’s gauge of offshore Chinese shares in January, while developers have rallied the most among industry groups on the Shanghai benchmark. Shimao Property Holdings Ltd. has led the charge …

Bloomberg HNA Group Co. has approached brokers about the possible sale of two office buildings in London’s Canary Wharf financial district as it seeks to shed assets and cut its debt burden, two people with knowledge of the discussions said. The Chinese conglomerate has sought advice from brokers on the value of 30 South Colonnade and 17 Columbus Courtyard with …

DUBAI / WAM Seventeen new judges including five Emiratis at the Dubai first instance courts have sworn-in before His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, at Zabeel Palace. HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, and …

DUBAI / WAM The Library of Alexandria has established the Arab Reading Challenge (ARC) wing with 150,000 books in various genres including fiction, history, science and more. The initiative was launched under the Mohammed bin Rashid Al Maktoum Global Initiatives, with the signing of an agreement between Arab Reading Challenge and the Library of Alexandria. Saeed Al Eter, Assistant Secretary-General …

Dubai / Emirates Business Emirates NBD on Wednesday announced the signing of an agreement to offer clearing services to UAE-based brokerage firm Shurooq Stocks and Bonds. Emirates NBD is the first UAE-based financial services entity to be approved by the Securities and Commodities Authority, SCA, as a ‘General Clearing Member’ providing clearing and settlement services to trading participants of the …

Abu Dhabi / WAM Abu Dhabi Airports signed on Wednesday a Memorandum of Understanding (MoU), between Abu Dhabi International Airport (AUH), and Beijing Capital International Airport (BCIA), to become sister airports, strengthening the cooperation and ties between the two international aviation hubs. Abdul Majeed Al Khoori, Acting Chief Executive Officer of Abu Dhabi Airports and Liu Xuesong, Chairman of BICA …

ABU DHABI / Emirates Business Miral announced on Wednesday the appointment of BAM International as it’s chosen main contractor for the arena, plaza, and nearby retail and F&B spaces planned for the upcoming Yas Bay development. The development of the arena has started earlier this year, and is scheduled for completion by end of 2019. The arena is part of …

Bloomberg Homeowners in states with the highest property taxes are looking to prepay 2018 bills ahead of a $10,000 cap on the deduction for state and local levies, including property taxes, in the GOP tax overhaul President Donald Trump just signed. In New York, residents are peppering local officials with questions about how to prepay their 2018 property tax bills …

Bloomberg / Emirates Business UK Prime Minister Theresa May refused to rule out running for another term in 2022 as she shrugged off suggestions that 2017 has been the worst year of her political career. The other 27 leaders in the EU agreed in December 2017 that “sufficient progress” had been made to allow Brexit talks to proceed to the …