DOMICILIATION

Live: European stock indices rose at the close of trading on Wednesday, with consumer confidence in the euro zone increasing unexpectedly this month.

At the end of the session, the European Stoxx 600 index rose 0.3% to 457.2 points, the highest level since September 20, and gains were limited by a decline in the energy, mining and banking sectors.

While the value of the British “FTSE 100” decreased by 0.15% to 7469 points, the value of the German “DAX” index increased by 0.35% at 15957 points, while the French “CAC” index rose by 0.45% at 7260 points.

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Cabinet: The continued decline in inflation reflects the strength of the economy and the effectiveness of state measures

The Minister of Energy announces new discoveries of natural gas in the Eastern Province and the Empty Quarter

Infographic.. The Kingdom’s average daily exports of crude oil in the first 9 months of 2023

Abu Dhabi – Mubasher: Real estate prices increased by about 15 percent in the Emirates of Dubai and Abu Dhabi from the second quarter of 2021 until this week, with 80,000 units currently under construction.

Julien Haddad, Vice President and Chief Analyst at Moody’s Credit Rating Agency, noted that this strong performance reflects the success of the enhanced visa program recently launched by the UAE government, and the rapid reopening of the economy after the Corona pandemic.

He said: The gross margins of real estate developers in the country increased, driven by strong demand from local and international investors, including large inflows of Russian buyers since last year.

According to a report issued by the agency, real estate market conditions in the UAE will remain healthy during the next 12 to 18 months, but demand will be slower than the past two years..

The report stated that high interest rates have a limited near-term impact on real estate developers, while they will remain positive for banks.

The report explained that although high inflation and interest rate growth may increase risks in the long term for rated and unrated real estate developers.

The report indicated that UAE banks have worked to improve their solvency and liquidity hedging since the global financial crisis in 2008, so the percentage of non-performing loans decreased from 10.5 percent to 5.1 percent since 2011.

The total real estate transactions in Dubai from the beginning of 2023 until the end of last July amounted to about 304.3 billion dirhams, resulting from 89,824 transactions, compared to 204 billion dirhams, resulting from 66,431 transactions during the same period of the year 2022, a growth of 49 percent and 35 percent in terms of value and number..

Real estate market sales in Dubai from the beginning of the year 2023 until the end of July reached about 217 billion dirhams, resulting from 72,101 deals, compared to 136 billion dirhams through 49,999 deals during the same period of 2022, a growth of 60 percent and 44 percent in terms of value and number..

According to Dubai Land Department data, 10 urban development areas in Dubai accounted for 43.5 percent of total sales, amounting to 94.3 billion dirhams..

“Palm Jumeirah” came in first place with a value exceeding 16 billion dirhams, then “Dubai Creek Harbor” came second with a value of 11.71 billion dirhams, followed by “Burj Khalifa” in third place with 11.31 billion dirhams, and “Business Bay” came in fourth place with 11.05 billion dirhams. “Dubai Marina” is in fifth place with a value of 9.59 billion dirhams.

The latest data from Zoom Property Insights predicts that real estate prices in Dubai will rise by up to 20 percent on average, and that the luxury housing sector will continue to dominate by 13.5 percent on an annual basis in 2023..

This comes amid a further increase in real estate prices and annual rents and growing interest from high-net-worth individuals and foreign investors.

Data issued by the Department of Municipalities and Transport in Abu Dhabi showed momentum in the real estate market movement in the emirate since the beginning of this year, in terms of the value and number of properties sold during that period..

The value of real estate transactions in Abu Dhabi amounted to 20.7 billion dirhams, resulting from 4,600 sales and mortgage transactions that took place during the first quarter of this year..

The sold properties accounted for 66 percent of the total trading proceeds, compared to 33 percent, the share of mortgaged properties..

Real estate sales activities increased by 200 percent in sales proceeds during the first quarter of this year, with a total value of 13.7 billion dirhams, through 2,689 transactions, compared to a value of 4.5 billion dirhams for the same period last year, as a result of 1,869 sales transactions..

The market achieved a difference of 61 percent, and more than 5.2 billion dirhams, over the largest quarterly value of real estate sales, recorded in 2022 in its last quarter, with a total of 8.5 billion dirhams, resulting from 3,000 real estate sales transactions..

The largest share of total sales in the first quarter of 2023 was concentrated in the sale of ready-made units, with a total proceeds of 7.5 billion dirhams for about 966 units sold, or 37 percent of the total units, compared to a value amounting to 2.9 billion dirhams for 985 units in the first quarter of last year..

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20.7 billion dirhams in Abu Dhabi real estate transactions in the first quarter of 2023

Noha Makram – Live – The majority of US stocks opened higher today, Friday, adding to their strong gains during the week, against the backdrop of retail sales updates and a decline in oil, which Wall Street sees as signs of a slowdown in the economy.

The S&P 500 index rose by approximately 0.1%, while the Dow Jones Industrial Average rose by approximately 0.2%, or approximately 690 points. While the Nasdaq index fell by 0.1%.

The three American indices are on the verge of recording weekly gains thanks to the mid-week stock jump, amid growing market conviction that the Federal Reserve may lower interest rates.

Investors viewed declining inflation and weak jobs data as signs that central bank tightening is finally limiting US economic growth.

Some investors are seeing similar signs in retailer updates. Gap Inc. issued a bleak forecast for holiday sales in its earnings, joining Walmart and Target in warning that a decline in consumer spending will hit the all-important shopping season.

Oil prices were also a sign of a slowdown with the market set to decline ahead of the OPEC+ meeting later in November. West Texas Intermediate crude rose 1.6%, while Brent futures rose 1.7% on Friday, but both are still heading toward a weekly loss after touching their lowest level in nearly four months.

Data released on Tuesday showed that the core consumer price index remained stable during October, versus expectations for a 0.1% increase. While the core consumer price index rose by 0.2%, below expectations for a 0.1% increase.

Signs of slowing inflation have reinforced investors’ bets that the Fed has finished raising interest rates.

Traders widely expect the Fed to hold rates in December and are betting that it will begin lowering them in May, according to the CME FeedWatch tool.

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US core consumer prices hit their lowest levels in two years

Global oil prices rose in early trading on Friday

US stocks fell at the beginning of trading Thursday

Ahmed Al-Demerdash – Mubasher: UAE financial market indices rose at the end of the week’s trading, amid increasing investor bets that the Federal Reserve has reached the end of its monetary tightening cycle, putting pressure on the dollar and Treasury bond yields.

According to UAE financial market data, the Dubai Financial Market recorded gains during the week estimated at approximately 8.414 billion dirhams, while the Abu Dhabi Securities Market recorded losses of approximately 1.566 billion dirhams.

At the end of this week’s trading, the Dubai Financial Market Index rose by about 0.629 percent, reaching the level of 3994 points at the end of this week’s trading, compared to about 3969 points at the end of the previous week’s trading.

The market value of Dubai shares recorded 674.976 billion dirhams by the end of the week, compared to about 666.264 billion dirhams the previous week, with gains amounting to 8.414 billion dirhams.

The Abu Dhabi Securities Market index rose by 0.282 percent, recording 9,575 points at the end of this week’s trading, compared to about 9,548 points the previous week.

The market value of Abu Dhabi shares reached 2.787 trillion dirhams by the end of the week, compared to a value of 2.788 trillion dirhams the previous week, with losses amounting to 1.566 billion dirhams.

Today, Friday, the Abu Dhabi Securities Market witnessed the listing and start of trading in shares of Investcorp Capital PLC, with a market value of about 5.04 billion dirhams (equivalent to about 1.37 billion dollars).

It is noteworthy that UAE financial market indices rose at the end of the previous week’s trading, coinciding with comments that strengthened the possibility of raising US interest rates by about 25 basis points next month..

The Dubai Financial Market recorded gains during the week estimated at approximately 4.486 billion dirhams, while the Abu Dhabi Securities Market recorded gains of approximately 27.448 billion dirhams, with a total of 32.335 billion dirhams (equivalent to about 8.8 billion dollars)..

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Nominations:

$8.8 billion gains in the UAE financial markets within a week

Today.. the listing of Bahraini “Investcorp” shares on the Abu Dhabi Stock Exchange