DUBAI / WAM The Dubai Land Department (DLD), on Tuesday, announced a 134 percent increase in real estate transactions following the creation of the emirate’s new Higher Committee of Real Estate on September 2, which aims to avoid the duplication of projects in the sector and achieve a more sustainable balance between supply and demand. The committee was established by …

Bloomberg Incoming European Central Bank President Christine Lagarde said the global economy is likely to dodge an outright contraction, though the trade tensions remain the top threat to the growth outlook. “It is not in the baseline to have a recession,” Lagarde said in a Bloomberg Television interview on Tuesday. “That said, it’s mediocre growth, it’s at risk because of …

Bloomberg Saudi Arabia will waive the fees it requires industrial companies to pay for their foreign workers for a period of five years, lightening a burden on the private sector. Since January 2018, businesses have been required to pay fees for foreign workers they employ, part of the government’s strategy to raise non-oil revenue. In February, King Salman approved a …