BLOOMBERG Funds investing in commercial property pose a threat to financial stability after growing significantly over the last decade, according to the European Central Bank (ECB). The net asset value of the real estate investment funds more than tripled to more than €1 trillion ($1.1 trillion) in the past 10 years, boosting their interdependence with property markets, the ECB said ...

BLOOMBERG Morgan Stanley’s Michael Wilson — among the most prominent bearish voices on US equities — warns the rally in tech stocks that’s exceeded 20% isn’t sustainable and that the sector will return to new lows. The Nasdaq 100 has soared into a bull market as investors fled economically sensitive sectors like banks following the collapse of several US lenders. ...

BLOOMBERG Treasury yields rose on concern a rally in oil prices will keep inflation elevated and put pressure on the Federal Reserve to go on raising interest rates. The two-year US yield rose as much as 11 basis points to 2.73% as crude prices jumped after Opec+ announced a surprise oil production cut. This reignited concern about inflation and led ...

ABU DHABI / WAM The global investment platform, Investopia, has revealed one of the key outcomes of its annual conference held in Abu Dhabi, which is the launch of ‘Smart Clinics’ in the UAE and the wider Middle East region, a new concept in the healthcare sector that focusses on improving life quality and establishing wellness pathways. Technology and precision ...

ABU DHABI / WAM Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, announced that the UAE will voluntarily cut its oil output by 144,000 bpd, effective May through the end of 2023, in coordination with some countries that are parties to the Opec+ agreement. “This voluntary initiative is a precautionary measure taken to ensure market balance and comes ...

ABU DHABI / WAM The 12th Annual Investment Meeting (AIM Global 2023), which is supported by the Ministry of Industry and Advanced Technology in partnership with the Abu Dhabi Department of Economic Development, will feature a number of local and international events, forums, and conferences from May 8-10 at the Abu Dhabi National Exhibition Centre and discuss the latest investment ...

DUBAI / WAM HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Supreme Council of Energy (DSCE), chaired the 75th meeting of the council, which was held virtually in the presence of Saeed Mohammed Al Tayer, Vice Chairman of the DSCE. The meeting was also attended by Ahmed Buti Al Muhairbi, Secretary-General of the Dubai Supreme Council of ...

LATAKIA / WAM In line with the directives of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, a second UAE aid ship, carrying over 2,000 tonnes, arrived at the Port of Latakia as part of the UAE’s post-quake recovery plan in Syria under “Operation Gallant Knight / 2”. The Ministry of Defence’s Joint Operations Command announced the largest aid ...

DUBAI / WAM Dubai’s Roads and Transport Authority (RTA) on Sunday opened two major bridges and a tunnel spanning a total of 2,325 metres, with a capacity of 27,200 vehicles per hour, as part of the Falcon Interchange Improvement Project located between Al Khaleej Street, Khalid Bin Al Waleed Road, and Al Ghubaiba Road. The two bridges are connected by ...

SHARJAH / WAM Major General Dr Muhammad Abdullah Al-Murr, President of the UAE Athletics Federation, has highlighted the touristic potential of Labbaik Khorfakkan Run Festival. In the presence of Sheikh Saeed bin Saqr Al Qasimi, Deputy Chief of Sharjah Ruler’s Office in Khorfakkan, the UAE Athletics Federation organised, the “Labbaik Khorfakkan Run Festival”, in cooperation with the Sharjah Sports Council, ...