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A media poll of economists had pointed to a monthly fall of 1.0% and an annual rise of 2.8%. File poto
Britain's house prices fell by the most in more than 11 years in May as the coronavirus crisis hammered the market, mortgage lender Nationwide said on Tuesday.
Nationwide said its measure of house prices fell by 1.7% last month from April, the biggest decline since February 2009.
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In annual terms, prices rose by 1.8%, slowing from 3.7% in April.
A Reuters poll of economists had pointed to a monthly fall of 1.0% and an annual rise of 2.8%.
Britain officially entered recession in the second quarter after gross domestic product (GDP) contracted by 2.2 per cent in the first three months of the year. The technical definition of a recession is two quarterly contractions in a row.
Infections have been reported in 210 countries since the first cases were identified in China in December last year and British aid minister Anne-Marie Trevelyan said assisting the poorest nations now would help prevent the virus returning to the United Kingdom.
With a total of 75,011 deaths from 909,673 infections, Europe is the hardest-hit continent in the COVID-19 pandemic, which has killed at least 109,133 people worldwide. Europe's most affected country is Italy with 19,468 deaths, followed by Spain with 16,972, France with 13,832 and Britain with 9,875.
The United Kingdom left the bloc at the end of January, but EU law still applies until the end of a post-Brexit transition period, and would normally restrict state subsidies.
Heading the periodic meeting of EXPO 2020 Security Committee, Lieutenant General Abdullah Khalifa Al Marri, Commander-in-Chief of Dubai Police,
A leading business solutions provider Transguard Group has revealed that it has secured Dhs102 million in contracts for Expo 2020 Dubai and will deploy more than 3,000 of its employees across 17 pavilions and other common areas at the event site.
The seventh World Green Economy Summit (WGES), being held on 6th and 7th October, 2021, at Expo 2020 Dubai, is set to tackle some of the critical sustainable development pillars,
The Dubai Digital Economy Retreat concluded recently with the adoption of a new action plan designed to develop Dubai’s digital economy strategy.