Stock markets have retreated again over worries of further US interest rate rises after the Federal Reserve defied Donald Trump to increase rates for the fourth time this year.

The EU has confirmed it is “actively investigating” a potential breach of its diplomatic communications network, following reports that secret cables had been stolen by hackers.

The Bank of England has welcomed a “crucial and positive” move by the EU to help keep a key part of the financial system functioning in the event of a “no-deal” Brexit.

A handful of banks will be forced to write multimillion pound cheques to buy shares in the construction giant Kier Group after some of its biggest investors snubbed the chance to take part in a £250m fundraising.

GlaxoSmithKline (GSK) is to merge its consumer healthcare unit with that of rival Pfizer, to create a new market leader with almost £10bn in annual sales.

 

Santander has been fined more than £30m for “serious failings” in processing the accounts of dead customers, the Financial Conduct Authority (FCA) says.

REAL ESTATE TOP STORIES

Dubai nets a total of $5.2 billion worth of real estate investments in 8 months

Dubai nets a total of $5.2 billion worth of real estate investments in 8 months

A top official of Dubai Land Department (DLD) stated that the country’s real estate market has been consistently sustainable, attracting nearly 9,500 new investors who made a total investment of more than $5.17 billion during the period from January 1 to August 31, 2018

DLD is the strategic partner of the 17th edition of Cityscape Global, taking place from October 2 to 4. Through its delegates, the department will welcome visitors and investors to answer their queries, helping them make investment decisions and take advantage of the attractive offers that developers will be offering during the event.

“Dubai’s real estate market acquired a sustainable reputation due to a range of innovative initiatives and proactive solutions that have made it the world’s most attractive investment destination, with the most advanced solutions, applications, and smart services that ensures the ability of customers to conclude transactions easily, transparently, safely, remotely and at any time,” stated Sultan Butti bin Mejren, the director-general of DLD.

DLD hopes to showcase Dubai’s smart and sustainable features that place it at the forefront of global real estate markets at Cityscape – which is one of the world’s largest and more renowned events for real estate development and investment in emerging markets.

“For years we strived to position our real estate market as the preferred choice, in pursuance of the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister and Ruler of Dubai,” he stated.

“Our smart solutions played a key role in consolidating Dubai’s position as a preferred investment destination that provides a legislative system that protects investors’ rights, as well as great privileges in recognition of their trust in our real estate market, and for choosing the Emirate as a safe haven for their long-term investments in the real estate market,” he added.

“The influx of new investors was evidence of their eagerness to benefit from the opportunities and return on investments guaranteed by Dubai’s attractive real estate market,” he further added.

Bin Mejren stressed that the economic sectors in the emirates, especially the real estate, were in line with the UAE’s strategy for the future.

“DLD considers this strategy to be a main principle in achieving Dubai’s development aspirations in the near future. This is in line with Smart Dubai’s objectives for sustainable growth, consistent achievements and development, and for meeting the global competitiveness challenge,” he stated.

He concluded by stating that the upcoming years will witness new waves of investors whose interests will be focused on the stability of the real estate market, which provides them with satisfaction and trust, allowing them to achieve sustainable returns on investment.

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