UK suburban home prices outpace cities

Bloomberg House prices in the UK suburbs outpaced those in city centers during the pandemic as people traded shorter commutes for gardens and indoor space to work from home, figures show. In the areas surrounding major cities, property values grew an average 10.8% between March 2020 and June this year, according to mortgage lender Halifax, whose figures exclude London. For ...

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Audi CEO sees better odds of building in US as VW electrifies

Bloomberg The odds Audi decides to start building vehicles in the US are rising as parent Volkswagen AG electrifies its lineup, the luxury-car maker’s chief executive officer said. The VW group’s strategy to bring down the cost of electric vehicles involves developing common platforms to underpin models across its many brands to conserve costs. The first, dubbed MEB, is the ...

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Stock market risks pile up after record-setting earnings season

Bloomberg Delta cases. Inflation. Fed tapering. China’s crackdown. These are among the reasons why investors could soon get more nervous about this stock market. The S&P 500 hit another record after Jerome Powell’s dovish taper speech reassured investors. However, the mood seems more cautious compared with a few weeks ago, when companies were in the middle of a record-setting earnings ...

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Chinese tech’s brief revival is showing signs of fatigue

Bloomberg Chinese tech stocks’ best weekly rally since January may not be enough to persuade some investors to return to a market still reeling from an unprecedented private-industry assault. JPMorgan Asset Management is waiting for clearer policy signals, while Amundi believes Beijing’s new focus on data protection means uncertainty will remain high for internet companies. Martin Currie Investment Management, which ...

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Opec+ seen sticking to planned output hike as oil prices rebound

Bloomberg The Organisation of Petroleum Exporting Countries (Opec) and its allies are expected to press on with their planned revival of oil production when they meet next week, as prices bounce back from their August stumble. The coalition led by Saudi Arabia and Russia is gradually restoring the vast amount of crude production halted during the pandemic, and will probably ...

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WNA congratulates UAE for success of Barakah Unit 2

London / WAM The World Nuclear Association (WNA) congratulated the UAE for successful start-up of second unit at Barakah Nuclear Power Plant. The Emirates Nuclear Energy Corporation (Enec) announced that its operating and maintenance subsidiary, Nawah Energy Company (Nawah) has successfully started up Unit 2 of the Barakah Nuclear Energy Plant, located in Al Dhafra Region of Abu Dhabi. This ...

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Women make 25% of workforce in Tawazun

Abu Dhabi / WAM Women make over 25 percent of the total workforce in Tawazun Holding, while accounting for 10 percent of technical and technology related jobs in the company, said Tareq Abdulraheem Al Hosani, Chief Executive Officer of Tawazun Economic Council. He added that Tawazun Holding’s management believes in the important role of women and seeks to provide opportunities ...

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ADX cuts trading commissions by 50%, extends trading hours

Abu Dhabi / Emirates Business The Abu Dhabi Securities Exchange (ADX) has reduced its trading commissions by 50% and will extend its trading hours by one hour, with the market opening at 10am and closing at 3pm. The reduction in trading fees, to 0.025% from 0.05%, which will take effect starting September 1, is the exchange’s second commission cut in ...

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India extends Covid-19 curbs till September end

New Delhi / WAM India’s Ministry of Home Affairs, in exercise of powers under the country’s Disaster Management Act, has extended the countrywide restrictions to contain Covid-19 until September 30. In a letter to Chief Secretaries of all states and Administrators of union territories, Home Secretary Ajay Bhalla wrote that “the overall pandemic situation at the national level now appears ...

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DFM extends trading hours to five hours daily

DUBAI / WAM Dubai Financial Market (DFM) on Saturday announced the extension of its trading hours to from four hours to five hours daily as of October 3 in line with directions of the Securities and Commodities Authority (SCA) and in coordination with various stakeholders. Hassan Al Serkal, CEO of the DFM said: “The new initiative will further strengthen leading ...

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