Bloomberg A drop in Swedish apartment prices picked up speed last month, adding to evidence that the property market in the largest Nordic nation is floundering. The average cost was 4% lower in July than the previous month, marking the fastest decline since before the pandemic, according to data by Svensk Maklarstatistik. House prices decline 1 percent from June. ...

  Bloomberg The investment giant’s board approved on Wednesday the early physical settlement of prepaid forward contracts corresponding to about 242 million American Depositary Receipts. After the settlement, which will run from August to September, its stake in China’s e-commerce leader will fall to 14.6% from 23.7% as of the end of June. The move raises the likelihood that SoftBank ...

  Bloomberg Tech shares led a broad slump in Chinese stocks on Wednesday, as investors turned cautious over worries about the nation’s fragile economic recovery and potential market impact from US inflation data. Hong Kong’s Hang Seng Tech Index dropped 2.8%, with electric vehicle makers Nio Inc and XPeng Inc the worst performers. The benchmark Hang Seng Index slid 2%. ...

  Dubai / WAM Dr Abdulrahman Al Awar, Minister of Human Resources and Emiratisation, has issued the Ministerial Resolution No. 318 of 2022 regarding bank guarantees and employees’ protection insurance scheme in the private sector. This decision is in line with the legislative framework that aims to preserve workers’ rights, support the business community, enhance the competitiveness and stability of ...

  Abu Dhabi / WAM President His Highness Sheikh Mohamed bin Zayed Al Nahyan received on Tuesday a telephone call from Shehbaz Sharif, Prime Minister of Pakistan, during which they discussed ways of strengthening bilateral ties for serving development in the two friendly countries and expanding the base of their mutual interests. During the call, Prime Minister of Pakistan expressed ...

  Abu Dhabi / WAM The Ministry of Climate Change and Environment (MOCCAE) received a delegation from the German Development Cooperation Agency (GIZ) and German conservation NGO Succow Foundation for discussions to enhance bilateral cooperation and share experiences on biosphere reserves, ecotourism, and environmental conservation. MOCCAE, represented by its Biodiversity Department, shared its insights on ecotourism prospects in Unesco Man ...

  Abu Dhabi / WAM Mubadala Capital, the asset management subsidiary of Mubadala Investment Company, announced the entry into a definitive agreement to acquire Canada Cartage, a leading logistics platform that provides dedicated national fleet solutions, general freight services, managed transportation, fulfilment and distribution, and home delivery services to some of Canada’s largest blue-chip companies in the grocery, food, retail, ...

  Dubai / Gulf Time Close on the heels of re-introducing double-daily flights, Emirates has announced plans to up frequencies to Mauritius starting October 1. The additional evening frequency which will operate up till January 31, 2023 is in response to increased travel demand to and from Mauritius, and will boost connectivity to the island nation. Emirates’ third-daily flight to ...

Abu Dhabi / WAM Adnoc Drilling Company on Tuesday announced its financial results for the half year and second quarter ending June 30. The company’s net profit for H1 significantly grew by 34% to AED1.392 billion ($379 million), while revenue increased 13% to $1.27 billion compared to the same period last year. First half Ebitda was $580 million, up 16% ...

  Abu Dhabi / WAM Al Yah Satellite Communications Company on Tuesday announced its financial results for the six-month period ended June 30, recording its highest ever first-half revenue. The company reported revenue of AED755 million ($206 million), up 8.1% year-on-year, underpinned by double-digit growth in managed solutions and mobility solutions. The adjusted Ebitda increased by 5.3% year-on-year to AED448 ...