Brussels / Bloomberg European Commission chief Jean-Claude Juncker refused on Tuesday to entertain the idea of a British exit from the European Union, saying there is no “plan B” ahead of talks with British Prime Minister David Cameron. Juncker, head of the EU executive, said he expected Britain to stay in 28-nation bloc as “a constructive and active member.” “If ...

Alex Morales / Bloomberg A British departure from the European Union would put at risk 466 billion pounds ($670 billion) of U.K. trade with nations in Europe and beyond, according to a report published on Tuesday by the Centre for Economic and Business Research. Britain’s membership of the bloc gives it “easy” access to trade with the other 27 member ...

WARSAW / Bloomberg Poland’s new government plans to harness 1 trillion zloty ($254 billion), or nearly half of the country’s annual economic output, for investment in manufacturing and innovation to help the nation catch up with richer European Union neighbours. The government is due to discuss the proposal, drafted by Development Minister Mateusz Morawiecki, the former chief executive officer at ...

London / AFP Britain’s annual inflation rate rose in January to its highest level for a year, buoyed by the higher prices for clothing and alcohol, official data showed Tuesday. The 12-month Consumer Price Index (CPI) rose by 0.3 percent last month, after registering 0.2 percent in December, the Office for National Statistics (ONS) said in a statement. Alcohol and ...

MOSCOW / Bloomberg Neither a recession nor a collapse in revenue has yet been enough to convince Russian President Vladimir Putin that it’s time to join with OPEC in cutting oil output to boost prices. His reasons may be pragmatic rather than political. As Russia’s oil minister meets his Saudi Arabian counterpart in Doha on Tuesday, the world’s second-largest crude ...

ABU DHABI / EMIRATES BUSINESS The Emirates Securities Market Index has increased by 0.92% to close at 4161.49 points. Accordingly the Market Capitalization has gained AED6.16 Billion attaining AED675.05 Billion. A total of 0.64 Billion Shares were traded with a total value of 0.75 Billion AED during the trading session of 16-02-2016 through 8512 transactions. The number of companies which has been ...

Hong Kong/ AFP Asian markets extended their rally on Tuesday as hopes were raised that major oil exporters Russia and Saudi Arabia could agree action to ease a global supply glut, and authorities will step in to boost growth in major economies. Gains on European markets also gave investors confidence to buy again as Shanghai surged more than three percent ...

Taipei/ AFP The new year has brought Taiwan no respite from its economic woes as exports fell in January for the 12th successive month, the longest continuous decline for almost seven years. The island slid into recession in the last quarter of 2015, posting its slowest annual growth since 2009, as China’s economic slowdown and weaker international demand took their ...

Bloomberg The Bank of Korea (BoK) kept its key rate unchanged Tuesday for an eighth consecutive month as it waits for a clearer picture of first-quarter data and assesses the impact of unstable markets. The decision to keep the seven-day repurchase rate at a record low 1.5 percent was forecast by all 15 economists in a Bloomberg survey. South Korea’s ...

Bloomberg For years, the country’s central bank and financial supervisor have railed against lenders’ dependence on markets — rather than deposits — because of the risk that investors might flee, leaving banks in a lurch. Now, Sweden is finding the markets may be a better funding source than savers as central bank rates go deeper into negative territory. Market funding ...