Yair Lapid concedes defeat, benchmark borrowing rates rise, Pope condemns war — Trending



Trending Middle East brings you the latest social media and search trends from the region and around the world.

On today's episode, the central banks of the UAE, Saudi Arabia, Bahrain and Qatar raise their benchmark borrowing rates in line with the US Federal Reserve, which increased its key rate for the sixth time this year.

Pope Francis condemns the “monstrous and senseless reality of war” as he begins a four-day trip to Bahrain that will focus on peace between religions.

Israel’s Prime Minister Yair Lapid concedes defeat and instructs all branches of government to prepare for the orderly transition of power to former leader Benjamin Netanyahu.

Lebanon’s parliament concludes a controversial session with a decision that the caretaker government will continue operating in its limited capacity.

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Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

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Native Invader
Decca

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At a glance

Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.

 

Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year

 

Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month

 

Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30 

 

Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse

 

Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth

 

Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances

MATCH INFO

Jersey 147 (20 overs) 

UAE 112 (19.2 overs)

Jersey win by 35 runs

Updated: November 04, 2022, 6:09 AM

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