Bloomberg The Federal Reserve warned that prices in the commercial real-estate market may have run up too far too fast. Valuations in commercial real estate “appear increasingly vulnerable to negative shocks, as CRE prices have continued to outpace rental income,” the Fed said in its semiannual Monetary Policy Report to Congress. The Fed noted that prices exceed their pre-crisis ...

  Bloomberg It’s getting hot in the Amsterdam property market. The Netherlands, the nation of tulipmania almost 400 years ago, saw prices in its capital city surge almost 21 percent in the first quarter. While the blame partly falls on a simple supply-and-demand imbalance, the signs are pointing to a potential squeeze. In London, by comparison, government data show prices ...

  Larnaca / AFP As Cyprus emerges from a deep financial crisis, a new low-cost airline will launch next month to tap into the Mediterranean island’s resurgent tourism market. The country has been without a national carrier since the collapse of Cyprus Airways, the victim of a credit crunch that brought the country close to bankruptcy in 2013. But numbers of ...

  Jeddah / Tribune News Service Work is undergoing at Prince Mohammed bin Abdul Aziz International Airport in Madinah to ensure preparedness with the arrival of a large number of pilgrims and visitors to perform Umrah and visit the Prophet’s Mosque. Airport officials have reached out to operating parties to ensure preparedness of the plan to facilitate arrivals and departures ...

  New Delhi / Tribune News Service Swedish fashion retailer Hennes and Mauritz (H&M) on Monday said it will double the number of its stores in the country from six to 12 by year-end. The Indian unit of Hennes & Mauritz AB, which entered India in October and currently operates stores in Delhi, Punjab and Bengaluru, will expand to Mumbai, ...

  Washington / Bloomberg FedEx Corp. is buying six Boeing 767 freighters valued at $1.2 billion as the world’s biggest cargo airline continues to modernize its fleet. The six aircraft are scheduled for delivery in fiscal 2019 and 2020, according to a FedEx spokesman. They were among the options included in a 50-jet order that FedEx placed almost a year ...

  New York / AFP The Solar Impulse 2 aircraft passed the halfway mark of its marathon flight across the Atlantic late on Tuesday, one of the most challenging legs of its historic sun-powered journey around the world. The experimental plane, which took off from New York’s John F. Kennedy airport on Monday, is being piloted by Swiss adventurer Bertrand ...

  CAIRO / Reuters Egypt’s efforts to relieve a crippling dollar shortage are pushing it towards a sickly combination of rising prices and lower growth, undermining hopes for economic revival after years of political upheaval. Prices have soared since Egypt devalued its currency by 13 percent in mid-March to end speculation against the pound and ease a dollar shortage that ...

  Bloomberg Google can see a future where robots help us unload the dishwasher and sweep the floor. The challenge is making sure they don’t inadvertently knock over a vase — or worse — while doing so. Researchers at Alphabet Inc. unit Google, along with collaborators at Stanford University, the University of California at Berkeley, and OpenAI — an artificial ...

  Dubai / WAM The UAE Water Aid Foundation (Suqia), under the umbrella of the Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI), organised a campaign to promote the Mohammed bin Rashid Al Maktoum Global Water Award (MBR Global Water Award) at universities across the UAE. The campaign was held at the American University in Dubai, United Arab Emirates University, ...