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Business Finance Financial Market Technology U.S

Kroger and Albertsons Zero in on Store Divestitures Amid Deal Review

The Kroger Co. and Albertsons Companies Inc are still on track to divest 250 to 300 stores as part of their effort to dispel antitrust issues regarding their proposed merger plan.

The stores slated for sale are valued at USD 1B or above, and are located all across different regions of the US—such as Chicago, Phoenix, Southern California, and the Pacific Northwest—reported Reuters, citing unnamed sources.

Kroger-Albertsons Cos. Merger Deal

In a move to reshape the U.S. supermarket landscape, Kroger and Albertsons Cos.—The US’s two biggest grocery store chains—announced plans to join forces in mid-October.

The retailers hope that this merger, if approved by regulators, would help create a corporate behemoth generating around $200 billion in sales per year.

Combined, Kroger and Albertsons Cos. would operate around 5,000 stores across the country.

Reasons Behind the Divestiture

The retailers have decided to prepare for the store divestiture as the Federal Trade Commission (FTC) is reassessing Kroger’s proposed USD $24.6B investment in Albertsons Cos. 

Since the retailers declared the merger strategy, there has been a flurry of movements from American consumer advocates and lawmakers against it. 

They are pressuring the FTC to hit the brakes on the deal, or at least hold it for some time, over concerns that this merger, if executed, could cause significant hikes in grocery prices amid the current spiralling inflation rates.

While declaring their merger, the retailers stated that the plan was to sell around 100 to 375 stores to win regulatory approval faster. However, Kroger mentioned that up to 650 stores could be divested.

As per the agreement, if the deal falls apart over antitrust issues, Kroger would be required to pay Albertsons Cos. $600M as a breakup fee to walk away from the contract.

The retailers are trying to sound out long-sought buyers for their stores and address the antitrust issue of FTC over their merging. 

Both Kroger and Albertsons Cos. expect these stores to be spun off into a subsidiary dubbed SpinCo by Albertsons Cos. or directly acquired by competitor supermarkets trying to extend their footprint in the USA. 

FTC to Monitor the Financial Viability of the Stores Divested

FTC will closely monitor any sale of the stores coming from this divestment, reported Reuters, citing antitrust experts at FTC. 

The current FTC chair Lina Khan marked the failed AlbertsonsCos./Safeway settlement behind FTC’s scepticism about the Kroger-Albertsons deal. 

The result: The agency is strictly scrutinising the potential impact of the Kroger–Albertsons merger deal.

Navigating Divestiture Challenges to Success

Brian Concklin, an antitrust expert and partner at global law firm Clifford Chance has advised Kroger and Albertsons Cos. to ensure that the stores they have decided to divest can act as formidable players in the industry. Thus the retailers can keep the FTC from blocking their merger deal.

“The Albertsons-Safeway deal will loom large over how these assets are viewed and how the FTC evaluates whether these divestiture packages being offered are viable,” commented Brian Concklin.

As a complex process, divestiture requires a coordinated effort to be successful.

For any dynamic enterprise looking to maximise the transaction value while divesting its business, investing in a consulting service like Fission Consulting is a sensible decision.

Such a high-end service streamlines the process while significantly reducing business disruptions.

Wrapping up

Kroger and Albertsons Cos. hope their plan to spin off the stores as part of the merger deal will help overcome challenges while paving the way to get FTC approval. 

“We believe we have a clear path to achieve regulatory approval with divestitures,” said Gary Millerchip, Chief Financial Officer at Kroger in a Bloomberg news.

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Computers & Software Professional Services Technology U.S

Microsoft Is Predicted to Equip Excel with AI

Microsoft Excel is poised to get a deep AI boost, however, this software giant isn’t going to tap into ChatGPT or OpenAI.

According to a new paper, in order to equip Excel with artificial intelligence, the in-house research team at Microsoft is working on bringing out an assistive AI system called FLAME, reported TechRadar.  

Calling it a “T5-based model,” the authors stated that FLAME has the capabilities to make the automation on the Excel app more efficient. 

An AI specially designed for Excel-specific tasks, FLAME ensures competitive performance and is more precise than other multipurpose AIs.

Purpose of FLAME

Written by eight of Microsoft’s in-house software developers, the paper highlights Excel as a popular spreadsheet platform that enables users to efficiently organise, format, and calculate data. 

With FLAME, Microsoft is committed to helping users with spreadsheet formulas providing autocomplete suggestions. 

Even better, FLAME can be leveraged to fix buggy and malformed formulas in the future Excel spreadsheet environment when plugged into the software.

“We curate a training dataset using sketch deduplication, introduce an Excel-specific formula tokenizer for our model, and use domain-specific versions of masked span prediction and noisy auto-encoding as pre-training objectives, ” explained the authors. “We evaluate FLAME on formula repair, formula auto-completion, and a novel task called syntax reconstruction.”

The new AI assistant—being a smaller model with 60M parameters and two orders of magnitude less training data—can outshine other larger language models—such as CodeT5 (220M), codex-Cushman (12B) and Codex-Da Vinci (175B).

The result: FLAME is anticipated to be more efficacious and cost-efficient to train or deploy compared with other AI tools.

However, when FLAME will be released or whether it will be free-of-cost for mass use is yet to be revealed.

Microsoft Excel Charts

Even while Microsoft experts contemplate giving Excel an AI boost, the built-in Excel charts are still overwhelming to deal with.

One of the best ways to make large datasets easily discernible is to recapitulate them in visual form. 

Excel’s built-in charts are the go-to option for many when it comes to explaining trends efficiently; deriving actionable insights from massive troves of data; evaluating key values effortlessly, and much more. 

However, for some types of Excel charts, the built-in formatting functionalities are limited, which makes it difficult to create professional-looking PowerPoint presentations. For example, with Excel waterfall charts, users cannot reference cells for titling, change the format (e.g. colour) of the connector lines, etc. 

Again, some charts are not natively available in Excel, requiring users to take the manual approach.

For professionals frequently required to create great-looking PowerPoint presentations with stunning charts, leveraging a high-end add-in like think-cell is a sensible decision. With fewer clicks and less formatting, PowerPoint add-ins streamline the process while significantly saving working hours. 

Microsoft Is Making Incredible Strides with AI

In a move to amplify its offerings in Azure OpenAI service, the software giant has extended its multi-year, multi-billion dollar investment in OpenAI this year. 

Even though Microsoft refused to comment on the deal’s specifics, an investment of around $10 billion is anticipated, with Microsoft getting a 75% of OpenAI’s returns until it recoups the investment. After recouping, Microsoft would hold a 49 % stake in OpenAI.

On top of that, Microsoft has recently demonstrated its plans to integrate the AI engine behind ChatGPT into its Edge web browser and Bing search engine. With Bing’s AI reboot, the company expects to shake up the search business, taking on the search engine giant Google. 

Wrapping Up

Microsoft expects FLAME to boost the process of creating and maintaining Excel formulas, especially for users who need to deal with large spreadsheets with tons of formulas.

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Business Education Health & Medicine Human Resources U.S

Dental Industry Leader Laura Nelson To Launch Groundbreaking Podcast Series “Dear Laura”

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FOR IMMEDIATE RELEASE​

The “Ask Laura” Show Podcast from Front Office Rocks is a must-listen for dental professionals.​

​Coronado (Calif.)​

​“Ask Laura” is a new podcast from Front Office Rocks founder Laura Nelson. A well-known dental practice management expert and the nation’s foremost expert on virtual front office training for dental practices, Laura will offer insightful tips, advice, and tactics for dental professionals looking to enhance their practices and provide patients with the highest quality of patient care and service.​

Eagerly anticipated by those in the dental industry, The “Ask Laura” podcast, which will be accessible on all major podcasting platforms, is scheduled to debut the first week of February. Listeners are encouraged to submit questions to Laura, who will answer directly on the show.​​

According to Laura, “I am thrilled to launch this new podcast and give dental practitioners a useful tool to help them improve their practices.”​

Laura will explore several diverse subjects on her show, including brand awareness, customer service, and the expansion of practices. “My mission is to equip dental professionals with the tools they need to flourish and give patients the greatest experience possible.”​

Additional topics which will be covered on the “Ask Laura” show include dental practice management, virtual dental training, dental customer service, dental team training, dental office efficiency, dental practice growth, dental practice marketing, dental practice scheduling, dental practice insurance, dental office culture, dental assistant development, dental hygienist training, dental practice software, dental practice hiring and employee management, dental practice re-care and retention, and dental practice communications to name a few.​

The “Ask Laura” podcast will also feature interviews with industry thought leaders and professionals in addition to expert advice, giving listeners access to a variety of viewpoints and knowledge.​

“I’m ecstatic to bring my decades of experience and expertise to the ‘Ask Laura’ show and offer dental professionals practical tips and tactics they can put into practice,” said Nelson. “I think I can help dental professionals achieve unbelievable results in their clinics and give patients the finest experience possible by sharing my expertise and experience.”​

​For dentists striving to enhance their practices and offer the finest patient experience, the “Ask Laura” show is a must-listen. Watch the first episode the first week of February and subscribe to the program on all popular podcasting websites.​

Visit the Front Office Rocks website or email Laura Nelson at laura@frontofficerocks.com for more information on the “Ask Laura” show.​

​About Front Office Rocks:​

Dental professionals will learn the skills they need to advance their practices and give patients the best possible experience with Front Office Rocks, an online training resource. The business provides several online learning opportunities, including coaching, live seminars, and on-demand video sessions. Dedicated to empowering dental professionals to flourish in their roles and achieve unheard-of results in their practices, Front Office Rocks is led by Laura Nelson, a renowned dental practice management specialist.​

​About Laura Nelson:​

Laura Nelson BS, MS, FAADOM, is the founder of Front Office Rocks and a renowned dental office management specialist. She has devoted time to researching how to lead and develop her team members, drawing on her years of expertise in the dental industry to achieve unprecedented growth. Along with coaching hundreds of dentists and dental team members, she has also given dentists and office managers the tools they need to flourish at performance-based hiring. Her objective is to impart her knowledge and skills to dental professionals so they may enhance their procedures and give patients the best experience possible.​

The “Ask Laura” program is a terrific resource for dentists who want to enhance their practices and give patients the finest possible care. Anyone working in the dental field ought to listen to this program because it contains professional guidance, practical techniques, and a variety of viewpoints. Watch the first episode the first week of February and subscribe to the program on all popular podcasting websites. 

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Business Education Health & Medicine Human Resources U.S

Dental industry Leader Dr. Scott Leune To Launch Groundbreaking Podcast Series “Dear Scott”

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FOR IMMEDIATE RELEASE​

The “Dear Scott Show” Podcast Is Being Released by Breakaway Seminar in an Effort to Assist Dentists and Dental Practices in Conquering Obstacles and Expanding Their Businesses.​

​(City, State) – [Location] Breakaway Seminar, a leading provider of business training and consulting services for dentists, is pleased to announce the launch of their new podcast, “The Dear Scott Show.” In the first episode, scheduled to air in February, Dr. Scott Leune will answer questions about problems that dental practice owners are currently dealing with and have submitted to the show.​

​The purpose of the show is to educate and empower dental professionals by delivering them actionable information and ideas that they can use to expand their practices. According to Dr. Leune, “We could not be more excited to launch this new resource for dental professionals.”​

​The Dear Scott Show will consist of weekly episodes that are each twenty minutes long and will be taped weekly. These episodes will be released on the company’s social media platforms once per week, with clips shared on social media in the gaps between episodes. During the show, Dr. Leune will respond to questions or challenges posed by viewers, such as “I now run one practice but am considering starting a second; when is the optimal time to do it?”​

​The goal of Breakaway Seminar is to provide private dentists with cutting – edge business models, operational procedures, and growth strategies so they can enjoy more success in their practices. The Dear Scott Show is an extension of that mission, and it offers dentists helpful insights and guidance in a manner that is convenient and easy to access.​

​Dr. Leune added, “The Dear Scott Show is an ideal addition to our already established seminar offerings and consulting services. It enables us to communicate with a more extensive audience and deliver an even greater amount of value to dental professionals interested in elevating their practices to the next level.”​

​The Advanced Startup Seminar and the Business Masters Seminar are two of the core services offered by Breakaway Seminar. The Dear Scott Show is the most recent addition to this collection of offerings. These events have received a lot of positive feedback, which has helped the organization establish itself as a prominent business training company for dentists and members of their teams.​

​About Breakaway Seminar:​

​It is Breakaway Seminar’s objective to support private dentists and assist them in thriving by providing them with cutting-edge business models, processes, and strategies. Breakaway Seminar is a prominent provider of business training and consulting services for dentists. The organization gives its clients access to a wide range of services, such as the Advanced Startup Seminar, the Business Masters Seminar, and, most recently, the Dear Scott Show podcast.​

​About Dr. Scott Leune:​

​Dr. Scott Leune is a prominent business strategist and speaker in the field of dentistry. He has vast expertise in establishing and maintaining profitable dental businesses. He is the founder of Breakaway Seminar, which has been of assistance to a large number of practices all throughout the country in their pursuit of financial success. The education offered at Breakaway Seminar’s events and through its consulting services is built on the foundation of Dr. Leune’s experiences and the lessons he has learned the hard way.​

​Visit their website at www.breakawayseminar.com to acquire additional information regarding the Dear Scott Show and the other services provided by Breakaway Seminar. 

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Business Education Health & Medicine Human Resources U.S

Dental Whale Launches Cutting-Edge Learning Series to Help Dentists Save Money

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AVAILABLE IMMEDIATELY

Dental Whale Introduces a New Learning Series Podcast to assist Dental Professionals with saving money on purchases.

Sunrise, Florida – Dental Whale, a leading online source of dental supplies and equipment from some of the biggest names in the industry, is pleased to announce the release of its new Learning Series podcast. Beginning in the first week of February, dental professionals may check in to learn about the latest industry trends, best practices, and new products from industry experts.

The Dental Whale Learning Series podcast is ideal for keeping dentists and dental practices up-to-date on industry news and making informed purchasing decisions. The podcast will feature interviews with industry leaders, product reviews, and professional advice on several topics, including technology, materials, instruments, and practice management.

“We are thrilled to introduce this new resource for dental professionals,” said Joe Cavaretta, CEO of Dental Whale. “We recognize how important it is to stay current in the business, and we believe that the Dental Whale Learning Series podcast will be a great tool for dental professionals wishing to enhance their practice while saving money on top brand supplies and equipment.”

All major podcast sites, including Apple Podcasts, Spotify, and Google Podcasts, will carry the Dental Whale Learning Series podcast. Subscribe to the podcast on your chosen platform or visit DentalWhale.com/podcast (link to be updated) to stay up to speed on new episodes.

About Dental Whale

Dental Whale is a supplier of top-brand dental supplies and equipment, allowing dental professionals to save up to 40% on supplies, labs, or equipment. Dental Whale, with a staff of skilled specialists, is dedicated to assisting dental practices in improving their bottom line.

 

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Business Education Finance Services U.S

Boris Musheyev Disrupts The Tax Industry By Changing The Way Business Owners Do Their Taxes

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Queens, NY – February 8th, 2023 – Boris Musheyev founder of Boris M Tax Inc. new tax strategy e-book earns the Click Funnels 2-Comma Club award. The S-Corp Tax Book teaches entrepreneurs how to legally pay less in taxes using your S-Corporation. 

This ebook was created to educate entrepreneurs on how the United States tax code is designed and how they can use it to their advantage. Inside the book are tax strategies, deductions, and benefits that any profitable business owner can use to save money on taxes using S-Corporation.

The book also teaches business owners that accounting is more about being correct and putting the right numbers in the right boxes. It’s being strategic, and proactive and maximizing tax savings with tax planning.

Tax planning is not the same as tax preparation. Most people think that tax planning is just for the ultra-mega-rich, and it’s extremely underutilized by small business owners. 

Imagine you’re going on a road trip. Tax planning is like mapping out your route before you leave. You look at the big picture and decide the best way to get to your destination. You take into account things like traffic, construction, and road closures, so you can make adjustments and arrive at your destination on time.

Tax preparation, on the other hand, is like packing your bags and getting in the car. Once you’ve mapped out your route, you gather all the necessary items (documents, forms, etc.) and make sure they’re in order before you hit the road. You double-check that you have your driver’s license, registration, and insurance and that your gas tank is full. You’re ready to go.

Proactive tax planning is the only way to pay less in taxes. Tax planning is the process of looking at your life and business, and identifying strategic ways to minimize your tax liability with proactive tax planning strategies. It’s all about being proactive and taking advantage of opportunities to seriously save money on taxes.

Tax preparation, on the other hand, is the process of gathering all the necessary documents and information, and putting the right numbers in the right boxes. It’s all about being organized and making sure everything is in order before the deadline.

Just like a road trip, it’s important to start planning early and not wait until the last minute. If you wait until the last minute to map out your route, you’re going to miss out on tax-saving opportunities and overpay in taxes. Which is 100% avoidable.

In short, tax planning is all about using proactive tax strategies to pay less in taxes. Tax preparation is simply putting the right numbers in the right boxes. It’s important to start planning early and not wait until the last minute, just like a road trip.

As of today, over 20,000 copies of this book have been downloaded and more and more entrepreneurs learn about the power of tax planning and how S-Corporation can help them save money on taxes.

For more information on tax planning for your business visit www.borismtax.com.

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Health & Medicine Pharmaceuticals & Biotech Science Technology U.S

Underrepresentation & Overconsumption: Analysing the Diversity Gaps in Clinical Trials

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Randomised clinical trials (RCTs) have long been considered the bedrock for evidence-based treatment (EBT). Thus they should be designed to be pragmatic and accumulate data representing the larger population for the disease profile. However, the research output is jeopardised severely by the limited enrollment of social, racial, and ethnic minority groups.

The FDA (US Food and Drug Administration) has reported that only 5% of patients partaking in clinical trials are Black, less than 2% are Asian, and as for Latinos, the percentage is as low as 1%.

This disparity is threatening, as it causes trials to show variance in effectiveness. 

Releasing a draft guidance, the FDA has placed emphasis on enhancing diversity in industry-sponsored clinical trials (iCTs), reported Clinical Leader. 

The agency urges investors and sponsors to devise and present a Race and Ethnicity Diversity Plan early in the trial process as per the framework delineated in the guideline.

Why Does Diversity in Clinical Trials Matter

Even though racial and ethnic populations in the United States have a disproportionate burden for specific ailments, they are most often underrepresented in biomedical studies, said the FDA.

With “underrepresented racial and ethnic populations,” the FDA indicates ethnic groups like “Black or African American, Hispanic/Latino, Indigenous and Native American, Asian, Native Hawaiian and Other Pacific Islanders, and other persons of colour.”

Considering the response and exposure of over 20% of drugs vary with racial differences, the FDA marks race and ethnic minority inclusion in iCT as a pressing need.

According to a study, white Americans are predicted to become a minority by 2045. The white demographic decline in the USA makes clinical trial diversification critical to confirm that newly developed drugs are safe and effective for whoever may use them across the country. 

“The U.S. population has become increasingly diverse, and ensuring meaningful representation of racial and ethnic minorities in clinical trials for regulated medical products is fundamental to public health,” said FDA Commissioner Robert M. Califf, M.D. “Going forward, achieving greater diversity will be a key focus throughout the FDA to facilitate the development of better treatments and better ways to fight diseases that often disproportionately impact diverse communities.”

Barriers to Improving Patient Participation Diversity in Clinical Trials

According to the FDA, the scepticism of the trial process stemming from several historical events deter ethnic minorities from participating in iCTs.

Other factors include limited access to healthcare for ethnic minorities, socioeconomic conditions, insufficient patient recruitment and retention efforts, time and monetary restraints, etc.

The result: gaps in clinical trial diversity that affects the trial success rate.

How to Fill the Diversity Gaps

What can help bridge the diversity gaps in iCT and accelerate effective products to market?

Decentralised Clinical Trial (DCT) Platforms 

The COVID-19 outbreak has made sponsors realise the significance of DCTs in filling the diversity gaps in healthcare research and accelerating the long-overdue changes in trial design.

Let’s see how:

  • DCTs and hybrid study models allow trial teams to expand their participant pools. 
  • DCT platforms such as ObvioHealth that include ePRO and eConsent enable patients to contribute to clinical trials from the comfort of their homes.
  • By helping overcome barriers to participant recruitment, DCTs and hybrid models have encouraged a much higher enrollment rate.

The result: augmented trial outcomes that represent real-world patient populations.

Ethnically Diverse Workforce

According to research, the lack of workforce diversity in the USA has been highlighted as a leading factor impeding the inclusion of diverse populations and causing disparities in oncology trial results.

The good news? Studies found that 74% of Black and 81% of Latinx people are willing to volunteer for clinical trials if their physicians advise. With that said, engaging the workforce in clinical trials from underrepresented groups can help build trust with at-risk participants. 

On top of that, the NHS recognised workforce diversity as the key factor to bring clinical trials closer to underserved folks. 

Patient Expense Reimbursement

The FDA recognised patient expense reimbursement as an effective way to enhance clinical trial diversity. However, the lack of a consistent approach among CROs and regulators makes the process slow and ineffective. 

Wrapping Up

The FDA sheds light on the significance of global efforts in increasing patient diversity. DCT can be a step change in helping sponsors improve the enrollment of participants from underrepresented racial and ethnic populations in clinical trials. 

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Education Lifestyle Professional Services U.S Website & Blog

Tristan M. Stahl, founder of ValorMen release a new video gallery that reveals the most common unasked questions Christians have about God and their faith.

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Orlando Florida – February 15, 2023 – A new video gallery from ValorMen, led by Tristan M. Stahl, reveals the most common unasked questions Christians have about God and their faith. The gallery answers questions like “What is the fire of God really?” “What is the vengeance and wrath of God in the light of God’s love for us?” “What about the bad things in the world?” “Does God test us?” 

Tristan answers these questions from the perspective of Christ and the love God showed all people in His death and resurrection. Many Christians and even those who don’t believe in Jesus are experiencing peace of heart and mind about God. 

Tristan says that in all religions we are taught that God is a being that is above us and requires our sacrifice and/or faith to be accepted by Him. Tristan says that Jesus Christ reveals the exact opposite of the true nature of God. He says it reveals that God is close to us and that we are made in the very image and likeness of God. Tristan says that our design is in God, and therefore our design is love. Tristan believes that Christ proved we do not need to try and be love or be obedient to commandments out of our efforts, but that our obedience resides in resting in our God-given nature revealed in Christ. 

For anyone interested in learning more about Tristan’s messages and if you have a question yourself about God, check out the video gallery here: ValorMen Video Gallery

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Financial Market Lifestyle Real Estate U.K U.S

Dubai Remains One of the Most ‘Affordable’ Luxury Home Destinations in the World

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According to the Financial Express, Dubai continues to remain one of the world’s most ‘affordable’ luxury residential markets, with most prime residences transacting for an average $870/sq. ft. USD.

The ‘affordable’ price per square foot in most prime residential neighbourhoods—combined with Dubai’s safety, excellent climate, and unrivalled sun-sea-sand lifestyle—is helping the city cement its iconic status in the luxury property market, thus fuelling the demand.

How Dubai Is Considered an ‘Affordable’ Luxury Home Destination

According to the Dubai Residential Market Review Winter 2022-23, a report published by Knight Frank, the majority of submarkets in Dubai exhibit a house-price-to-income ratio of less than six times yearly income. 

Whereas, as a rule of thumb, a house is considered affordable when its price is around six times the gross income of a household.

The quarterly report, which analyses Dubai’s real estate market and sheds light on key trends and forecasts, also published average house prices vs. average annual income by neighbourhood to help readers understand how accessible the mainstream residential market is.

Based on this report and other factors, the Financial Express has determined that the majority of Dubai real estate is relatively affordable.

The only outliers are three exclusive areas—Palm Jumeirah, Emirates Hills, and Jumeirah Bay Island—with house prices costing more than 20 times the average yearly income.

What’s Driving Demand for Dubai’s Luxury Homes?

Dubai’s luxury home sale boom continues as millionaires flock to the Emirates in search of second addresses in the city’s most exclusive enclaves. 

“The meteoric rise of Dubai’s multi-million-dollar homes market over the course of the last two years has been phenomenal. The performance at the top of the market clearly demonstrates the arrival of Dubai as a luxury hub to rival long-established markets elsewhere, with no sign to suggest a slowdown in the seemingly relentless demand from global ultra-high-net-worth-individuals zeroing in on the emirate in search of second homes,” explained Faisal Durrani, Partner, the Head of Middle East Research at Knight Frank.

A study by Henley & Partners predicted that 2023 would see a massive influx of elites and millionaires settling down in the Emirates, with more and more countries now easing travel and quarantine restrictions. 

Case in point: The number of millionaires migrating to the UAE in 2022 was over 4000, which was more than the number of millionaires settling down in the UK, the USA, Australia, Switzerland, etc.

The result: 219 sales of homes worth over $10 million were recorded in 2022, compared to 93 in 2021—a jump of a staggering 135%.

High-net-worth individuals and the richest international buyers are vying for luxury properties in the three neighbourhoods of Dubai, despite the soaring prices. 

However, the demand for properties has slumped in other cities.

Despite a surge of 49.4% in property price in 2022, Palm Jumeirah remains Dubai’s star performer, making record-high sales of villas and luxury apartments.

Palm’s world-class amenities, private beach access, glittering waterfront views, and tranquil settings has made it top the ultra-high-net-worth customers’ list.

Luxury Interior Design in Dubai

With contemporary designs dominating the Dubai luxury market now, high-end interior design studios are introducing new design styles and ideas to transform exclusive spaces into exquisite residences.

Bringing out the best of both worlds—interior design and architecture—a class-leading interior design studio like Accouter aims to embody the true spirit of design excellence.

Wrapping up

Despite all the challenges posed by global inflation and the shortage of new supply compared to demand, Dubai’s luxury residential market remains affordable and buoyant, showing no signs of slowing down.

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Energy & Environment Government & Politics Technology U.S

US Energy Department to Invest as Much as $74M in Enhanced Geothermal Systems

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As part of its efforts to ensure carbon emission-free electricity generation, the U.S. Department of Energy (DOE) recently declared it would provide up to $74 million for up to seven EGS-based pilot projects.

The aim is to ramp up the development of the geothermal industry by continuously testing the scalability and efficacy of enhanced geothermal systems (EGS). 

DOE hopes these pilot projects will help trap the Earth’s nearly inexhaustible heat resources in different geologic settings.

A lion’s share of this $74 million investment will come from the President’s Bipartisan Infrastructure Law (BIL) that helps facilitate the use of breakthrough technologies and advanced techniques.

DOE’s Fourth Energy Earthshot

In a move to slash the cost of geothermal power by 90% to $45 per MWh by 2035, DOE launched the new Enhanced Geothermal Shot™. 

The Enhanced Geothermal Shot™ is part of DOE’s Energy EarthShots Initiative, which was launched in September 2022.

This $74M is the first funding opportunity announced as part of DOE’s effort to produce clean, safer energy since the launching of the Enhanced Geothermal Shot™ last year.

Enhanced Geothermal Systems

The EGS—human-made geothermal reservoirs—are built to inject high-flow water/fluid into naturally hot (~150°C) and impermeable deep rocks through an injection borehole and extract heat by forming or re-opening a subsurface fracture network. 

The high-temperature dry rock (HDR) area acts as a heat exchanger in an EGS reservoir. 

In an EGS system, the reservoir’s natural permeability is boosted by stimulating fracture formation and ensuring a constant water flow. 

The result: increased size and connectivity of water pathways that allow water to circulate through the fractures of the deep rocks

This constant flow of fluid, when in contact with the subsurface rock areas, gets heated up, backs to the surface through the production barehole, and finally is extracted for electricity generation.

The concept behind the EGS system is to enhance the economics of geothermal resources without adequate water and/or permeability.

EGS aims to tap a continuum of geothermal resources—ranging from dry rocks to traditional hydrothermal resources.

After deployment, EGS functions just as naturally occurring hydrothermal systems.

When it comes to ensuring the safe deployment of EGS reservoirs while also maximising its operational efficiency, leveraging a high-end geothermal monitoring tool is a sensible decision. 

A solution like the one offered by Silixa can effectively facilitate the long-term monitoring of geothermal reservoirs and help operators comply with regulations.

EGS’s Potential to Increase Electricity Production

Geothermal power plants currently generate 3.7 GW of electricity in the US, accounting for around 0.4% of the net.

However, with EGS deployed, geothermal energy which is inaccessible using conventional technologies, can be tapped to generate as much as 90 GW of electricity by 2050.

“Advances in enhanced geothermal systems will help introduce geothermal energy in regions where, until recently, the use of this renewable power source was thought to be impossible,” said United States Secretary of Energy, Jennifer M. Granholm, in a statement last Wednesday. “These pilot demonstrations will help us realise the enormous potential of the heat beneath our feet to deliver clean, renewable energy to millions of Americans.”

Marking geothermal as an enormous source of renewable energy, the secretary of energy anticipates that around 45% of U.S. houses can be powered by the Earth’s heat at some point.

Wrapping Up

DOE hopes these BIL-funded EGS pilot demonstration projects would act as a step-change in meeting the booming demand for electricity while also helping hit President Biden’s goals of attaining deep decarbonisation in electricity generation by 2035.