May, 2022

• 18 May

  Los Angeles County property market soars by record $100b

  

  Bloomberg Property values in Los Angeles County are projected to rise by a record $100 billion this year, providing a boon to municipal coffers on the back of a hot housing market. The amount translates to $1.86 trillion in net value for taxable properties in the county, a 6% increase from 2021, according to a May forecast of the county’s ...

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• 18 May

  UK’s wage growth jumps in Q1 of ’22

    Bloomberg Wage growth in Britain jumped in the first quarter, fueled by an increase in bonus pay despite a call from the Bank of England for restraint. Average weekly earnings surged 7% in the three months through March, the Office for National Statistics said on Tuesday. That was stronger than the 5.4% figure economists had expected, mainly due to ...

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• 18 May

  Stocks, futures surge as bonds fall; dollar drops

  

    Bloomberg Stocks in Europe rise on Tuesday along with US equity futures as risk appetite returned to markets roiled by concerns about global economic growth, surging prices and policy tightening. Treasury yields rise and the dollar retreated. Industrial and basic-resources stocks led a broad-based advance of the Stoxx Europe 600, setting the gauge on course for a third day ...

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• 18 May

  Insurer LIC slumps in debut after record $2.7 billion India IPO

  

  Bloomberg State-run insurer Life Insurance Corporation of India (LIC) dropped early in its Mumbai trading debut after a record initial public offering that priced at the top of the range and was oversubscribed nearly three times. The shares plunged as much as 9.4% to 860 rupees in Mumbai, versus their IPO price of 949, before paring about half of the ...

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• 17 May

  UAE spent AED40b in development projects under late Sheikh Khalifa

  

    Abu Dhabi / WAM The UAE has accomplished many achievements under the rule of the late Sheikh Khalifa bin Zayed Al Nahyan, including being ranked among the top 10 globally in 20 key indicators of global competitiveness related to the energy and infrastructure sector for the year 2021, according to reports issued by a number of major international institutions ...

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• 17 May

  People of determination benefit with support of UAE’s leadership

  Abu Dhabi / WAM The UAE has established a national approach to transform challenges into opportunities and achieve growth and qualitative achievements in all areas. People of determination are progressing with the support and care of the UAE’s leadership towards successes and achievements, benefitting from an ideal and inclusive environment that ensures stability and motivates them to play a prominent ...

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• 17 May

  Aramco’s downstream earnings rise in Q1 of ’22

  

  Bloomberg Saudi Aramco’s downstream business, a key area of investment for the world’s largest oil exporter, saw its earnings more than double as it benefited from a global shortage of refining capacity. The unit, which produces transport fuels like gasoline and diesel, reported $10.2 billion in first-quarter earnings before interest and taxes, up from $4.4 billion a year earlier, it ...

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• 17 May

  Airport Show to showcase solutions shaping aviation industry’s future

    DUBAI / WAM The 21st edition of the annual Airport Show hosted by Dubai, the world’s largest annual airport event, starting May 17-19, at the Dubai World Trade Centre (DWTC) is set to be the driving force for the global aviation industry to emerge even stronger after the Covid-19 pandemic and will showcase the latest solutions from around the ...

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• 17 May

  Oil up as demand for refined products fuels crude’s rally

  

  Bloomberg Oil rallied as a global squeeze on refined products continued to pull fuel prices higher. West Texas Intermediate rose 1.6% to trade near $112 on Monday as US gasoline futures topped $4 a gallon for the first time ever. Rising futures tend to trickle through to the pump quickly, signaling more pain for drivers when the summer driving season ...

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• 17 May

  BOE: Brexit may make Britain’s inflation worse

    Bloomberg Britain’s departure from the European Union may make the economy more sensitive to inflation, a Bank of England rate setter said. “Brexit has reduced the UK’s potential output,” said Michael Saunders, one of the nine members of the Monetary Policy Committee. “It may also have increased the extent to which, if there is excess demand in the economy, ...

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