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  Bloomberg The UK’s bleak economic outlook and rising interest rates are finally biting into the country’s housing market, the latest figures from Britain’s lenders show. NatWest Group Plc reported net mortgage growth of £3.3 billion ($4 billion) in the second quarter, down from £3.6 billion in the same period last year. Barclays Plc reported near stagnant growth in home ...

  Bloomberg Manufacturers across the euro area are getting more worried about the economic outlook. The industrial confidence, a gauge compiled by the European Commission, dropped to a 17-month low this month and fears of energy shortages and never-ending supply chain disruptions are weighing heavily on the sector. Of the major four economies, only the readings for Germany were above ...

  Abu Dhabi / WAM Abu Dhabi National Oil Company (Adnoc) on Friday announced a second discovery of natural gas resources in the first exploration well in Abu Dhabi’s Offshore Block 2 Exploration Concession, operated by Eni. The discovery from a new deeper reservoir indicates between 1 – 1.5 trillion standard cubic feet (TSCF) of raw gas in place. This ...

  Dubai / WAM The Dubai Financial Market (DFM) has announced its consolidated financial results for the first half of the year ended June 30, posting a 63% increase in its net profit to AED63.4 million compared to AED38.8 million during the corresponding period of 2021. The net profit of the second quarter of 2022 increased by 134% to AED35.9 ...

  Abu Dhabi / WAM In line with the emirate’s commitment to adopting international best practices and making healthcare services further accessible to all community members, the Department of Health – Abu Dhabi (DoH), announced that Covid-19 vaccines and PCR tests will be available in pharmacies.. Covid-19 vaccines will be provided free of charge and the PCR tests will be ...

  Dubai / WAM Dubai Electricity and Water Authority (Dewa) has enhanced integration between different energy resources in its smart grid through its Virtual Power Plant (VPP), the first of its kind in the region. The first phase has aggregated the Distributed Energy Resources (DERs) operated by Dewa’s R&D Centre, and managed them as a single mixed portfolio of generation ...

Bloomberg President Joe Biden and Xi Jinping ended their call Thursday with plans to hold their first face-to-face summit, but the US and China are unlikely to halt their bickering in the months before the two leaders finally meet. The world’s two largest economies risk a fresh showdown as US House Speaker Nancy Pelosi kicks off an Asian tour Friday ...

  Abu Dhabi / WAM Etihad Airways on Thursday announced its financial and operating results for the first half of 2022, posting a record-breaking core operating profit of $296 million (H1 2021: $392 million loss). This result was achieved despite fuel costs increasing by almost 60% in comparison to the same period last year. Etihad carried 4.02 million passengers in ...

  DUBAI / WAM The Ministry of Human Resources and Emiratisation (MoHRE) has called on private sector establishments in areas affected by rains and floods in the UAE, especially in the Emirates of Sharjah, Ras Al Khaimah and Fujairah, to allow their non-essential employees to work remotely on Thursday and Friday. The transportation for essential employees between their workplace and ...

  Dubai / WAM Deyaar Development, one of Dubai’s leading property developers and real estate service providers, announced its unaudited financial results for the first half of 2022. The company achieved a remarkable increase of 196% in net profit to reach AED66.9 million for the six months ended June 30, compared to AED22.6 million for the same period in 2021. ...