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The real estate market of the United Arab Emirates will not recover for another three years, despite attempts by the state to stimulate economic growth, Bloomberg reports with reference to the construction company Tiger Group. According to experts of the company, the rental price in the UAE has fallen by 30% since 2016. The federal and regional government of the UAE has taken a number of measures to stimulate the economy, the growth of which slowed down after a rapid increase in the GDP of Dubai in 2017 to 112 billion dollars. Last year, the construction and real estate sector contributed 13% to the GDP of Dubai. However, the efforts made by the authorities have not yet led to an increase in prices in this sector.
Apple, Google, Amazon, and Facebook’s chief executive officers faced Republican and Democratic U.S. lawmakers on Wednesday for the much-anticipated congressional hearing. The CEOs were questioned for alleged abuse of their market power ...
The second quarter likely saw South Korea’s economy hitting its sharpest downturn in over two decades, a Reuters survey showed on Tuesday. This was mainly from the pandemic dragging the labor market, consumer spending, and global export ...
The euro steadied at four-month highs on the dollar after investors pinned hopes on the EU economic rescue fund as European leaders are expected to break a deadlock and agree on a deal. EU leaders had differing stands on the proposed 750 billion ...
The Bank of Thailand chief on Monday said that it could take several years for the country’s foreign tourism industry to recover as the economy continues to take a beating from the COVID-19 pandemic. The central bank expects foreign ...
Asian markets are poised to start with a firmer tone on Friday, disregarding an overnight decline in U.S. stocks. The decline was mainly from the United States’ move of debating new economic stimulus in a bid to salvage the virus-beaten ...
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