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Citi strategists favour technology, US stocks as recession looms

Bloomberg With the global economy likely to slow down next year, tech stocks and US equities are looking more attractive, according to Citigroup Inc. strategists. Strategists led by Robert Buckland expect 18% returns for global stocks by the end of 2023 but warn “it will likely be a volatile ride.” Growth strategies will be back in play as investor focus ...

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Burjeel raises AED1.1bn from oversubscribed IPO

  Abu Dhabi / WAM Burjeel Holdings has announced the successful completion of the bookbuild and public subscription process for its initial public offering (IPO) on the Abu Dhabi Securities Exchange (ADX). The price for the offering has been set at AED2.00 per ordinary share (the final offer price), and the offering size confirmed at 550,729,221 ordinary shares (offer shares), ...

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UAE continues to bolster domestic labour rights

  Abu Dhabi / WAM The UAE is continuing to establish legal rights frameworks to keep pace with its social values, such as tolerance and coexistence. Under this framework, Decree Federal Law No.9 for 2022 was issued to strengthen domestic labour rights. The decree law covers all aspects of domestic labour law and guarantees the rights of all parties in ...

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