AB Espresso: Is a recession coming?

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In today’s newsletter:

Discover the latest developments curated by our expert editorial team at Arabian Business. Here's what you missed on Monday:

Investors from across the globe are bracing for further volatility after fears that the US economy could be moving towards a recession sent shockwaves in global markets since the end of last week. The stock market turbulence is being driven by growing concerns about the health of major economies. Experts are closely monitoring economic indicators and market trends to gauge the potential for a broader economic downturn.

Meanwhile, the UAE has warned citizens in the UK to take security precautions and avoid areas witnessing riots in the country. More than 90 people were arrested by British police after demonstrations organised by far-right groups descended into riots in UK towns and cities since Saturday. There was unrest in Hull, Liverpool, Bristol, Manchester, Stoke-on-Trent, Blackpool, and Belfast, with missiles thrown, shops looted, and police attacked in some places. Other smaller demonstrations elsewhere did not turn violent.

Aside from this, UAE residents can look forward to another long weekend later this year. The UAE Cabinet has confirmed a total of 14 public holidays for the public and private sectors in the UAE for 2024. The nation already declared holidays during Eid Al-Fitr from April 8 to April 12 this year, followed by Arafat Day on June 15, and the first day of Eid Al-Adha on June 16.

On the real estate front, a Ras Al Khaimah real estate development is targeting wealthy UK and GCC investors with sales activity at Harrods department store in Harrods, London. Ras Al Khaimah real estate investment company Al Hamra is targeting UK and GCC investors and residents via the special activation in London at the famous Harrods department store.

In other news, on Wednesday last week, Saudi Arabia submitted its official bid to host the 2034 FIFA World Cup, proposing what could be the largest single-country edition of the tournament. FIFA unveiled details of the bid, which includes plans for 15 stadiums across five cities. The bid, titled Growing. Together., has received support from Crown Prince Mohammed bin Salman.

THE LONGER READ:

Skyrocketing real estate prices and increasing urbanisation are cited as the major reasons for the rising global preferences for smaller apartments

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