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  Sunaina Rana / Emirates Business Fluctuating oil prices have triggered diversification in the UAE market. However, the Economist Intelligence Unit (EIU) forecasts real GDP growth in the UAE to an average 3.6 percent per annum between 2015 and 2019, marking a decline from the 4.6 percent growth experienced in 2014. The Deloitte’s ‘Real Estate Middle East’ report predicts that ...

  Brussels / AFP European leaders met on Wednesday without Britain for the first time in 40 years to prepare for life after the Brexit bombshell, as the race began to succeed Prime Minister David Cameron. Highlighting the seismic shock from last week’s referendum, one person who was in Brussels however was Scottish First Minister Nicola Sturgeon, “utterly determined” to ...

  Abu Dhabi / Emirates Business UAE’s leading financial institution, Mashreq is in partnership with Arady Properties, an experienced Real Estate company set to launch the UAE’s first Qualified Investor Real Estate Fund which will be registered in the DIFC. The Sharia’h Compliant fund’s strategy will be the acquisition of select, income generating, diversified assets across the GCC with a ...

  Istanbul / AFP Turkey on Wednesday pointed the finger of blame at IS extremists after a triple suicide bombing and gun attack at Istanbul’s main international airport killed at least 41 people, including foreigners. Witnesses described scenes of terror and panic on Tuesday evening as the attackers opened fire and then blew themselves up at the entrance to the ...

  Phnom Penh / AFP Prime Minister Hun Sen, accused of intensifying a crackdown on dissent before Cambodia’s 2018 election, threatened on Wednesday to jail an opposition leader who has refused to come forward over an alleged sex scandal. Political tensions have risen in recent months, with rights groups accusing Hun Sen’s government of arresting scores of critics and tying ...

  Bloomberg Canada will end restrictions on Mexican travelers while its North American partner opens its market further to Canadian beef. Prime Minister Justin Trudeau and Mexican President Enrique Pena Nieto made the announcement during a state visit on Tuesday in Ottawa, ahead of the Three Amigos summit on Wednesday that includes U.S. President Barack Obama. Canada will lift its ...

  Bloomberg Brazil’s new central bank chief Ilan Goldfajn suggested it’s too early to think about cutting rates as inflation remains above target and the government has yet to implement budget cuts. Short-dated swap rates rose. Consumer prices will increase 4.7 percent next year, still above the target set by the government, the central bank said in its quarterly inflation ...

  Dubai / Emirates Business Dubai has recorded continued progress and retained its position as the most transparent real estate market in the Middle East and North Africa (MENA) region, according to JLL and LaSalle Investment Management’s 2016 Global Real Estate Transparency Index (GRETI). The Emirate placed (48th) out of 109 markets covered globally to remain in the ‘Semi-Transparent’ category, ...

New Delhi / Bloomberg India’s plan to replace energy-intensive appliances with more efficient designs is expected to save as much as 600 billion rupees ($8.9 billion) a year, according to the head of the government arm spearheading the country’s drive. The federal power ministry’s plan to replace incandescent lights with LED bulbs and use energy-efficient irrigation pumps, fans and air ...

  London / AFP Britain’s exit from the European Union may erode the bloc’s leadership role in fighting climate change and stymie crucial efforts to set more ambitious targets for cutting greenhouse gases, officials and experts said. The damage will become worse the longer the divorce proceedings drag on, or if Brexit inspires other EU nations to follow suit, they said. ...