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DUBAI / WAM The Palm Tower, Nakheel’s new 52-storey landmark development on Dubai’s Palm Jumeirah, is now almost 95% complete, with all components due to open by October this year. Soaring 240 metres above the world-famous island, the building is in the advanced stages of fit out, with all exterior cladding completed, said a press release issued by Nakheel on ...

DUBAI / WAM Dubai’s real estate market recorded 3,787 sales transactions worth AED7.43 billion in February 2021, a 13.8 percent increase from January 2021 in terms of volume and 8.9 percent rise in terms of value, according to the 12th edition of Mo’asher, Dubai’s official sales price index that was launched by Dubai Land Department (DLD) in cooperation with Property ...

Bloomberg President Joe Biden faces growing pressure from his party’s left to wage an all-out defense of voting rights, as Republican-held statehouses pursue restrictions that would fall heaviest on Black voters who helped Democrats win the White House and both chambers of Congress. Some activists say Biden should reshuffle his priorities and set aside work on a multi-trillion-dollar infrastructure and ...

Bloomberg Germany is mulling around 70 billion euros ($83 billion) in extra debt spending this year to fight the fallout from the coronavirus crisis, according to a person familiar with the plans. Finance Minister Olaf Scholz needs those additional funds because the country’s lockdown is dragging on much longer than expected, the person said, cautioning that the exact number is ...

Bloomberg Latin America faces risks as its economy rebounds from the worst downturn in two centuries, with better fiscal policy needed to ensure a sustained recovery, according to region’s development lender. Output will grow 4.1% this year as vaccine rollouts proceed and businesses continue to open, the Inter-American Development Bank said in forecasts released at its annual meetings. The bank ...

Bloomberg France amassed its biggest-ever green bond orderbook in its second sale of new debt, extending a pole position in the market to finance environmental projects. The nation raised 7 billion euros ($8.3 billion) from the securities maturing in 2044. Investors bid over 34.5 billion euros, about 50% more than for its first such offering in 2017, reflecting the surge ...

Bloomberg Tesla Inc. Chief Executive Officer (CEO) Elon Musk used an opportunity to speak to an audience in China to strenuously deny the electric carmaker would ever use a vehicle’s technology for spying. Appearing at the China Development Forum, a conference organized by a unit of the country’s State Council, in a session titled “The Next Disruptive Innovation?” Musk said ...

Dubai / WAM DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – has entered into a memorandum of understanding (MoU) with the Securities and Commodities Authority (SCA) to establish a regulatory framework for businesses offering, issuing, listing, and trading crypto assets in DMCC. The agreement will see businesses dealing with crypto ...

Abu Dhabi / WAM The Abu Dhabi Department of Education and Knowledge (ADEK) announced opening application for the Abu Dhabi Scholarships for Distinguished Students – a premier programme for Abu Dhabi’s outstanding Emirati students designed to meet priority labor market needs. Applications are being accepted online between March 21 and April 3 for high-performing Emirati Grade 12 / Year 13 ...

Dubai / WAM A French-Japanese consortium has won a contract for the operation and maintenance of the Dubai Metro as well as the operation of the Dubai Tram. The contract covers 15 years (9 base years and six renewable years) and amounts to approximately AED542 million ($147.56 million) per annum. The consortium consists of three companies namely Keolis, Mitsubishi Heavy ...