News

Bloomberg The risks are stacking up for the pound. Britain’s currency fell the most in three weeks versus the dollar as investors braced for a budget at which fiscal tightening is anticipated, a Bank of England statement that they’ll peruse for indications about the interest-rate path and a Federal Reserve gathering where, speculation is building, officials will signal a boost ...

Bloomberg Iran may join other oil suppliers in freezing production after restoring its own output to levels before sanctions were imposed, Russian Energy Minister Alexander Novak said after meeting with the Persian Gulf nation’s oil minister. Iran has “reasonable arguments” not to be constrained by the freeze for now, Novak told reporters at the Russian embassy in Tehran. “Iran may ...

Bloomberg Portuguese bonds led a decline in the debt of Europe’s lower-rated nations, underperforming their German counterparts for the first time in five days as a slump in stocks reduced demand for higher-yielding assets. Spanish securities also fell amid the political turmoil facing the country. The bonds of the euro zone’s so-called peripheral members had been rallying since the European ...

Bloomberg Italy’s economy will keep recovering from recession slowly but surely and avoid a renewed slump this year and next, a Bloomberg survey of analysts showed. The euro region’s third-biggest economy will extend the expansion that started last year, said 19 of 25 respondents in the poll published on Tuesday. Still, the pace of growth in 2016 and 2017 will ...

Bloomberg The Obama administration is reversing course on opening Atlantic waters to a new generation of oil and gas drilling, after a revolt by environmentalists and coastal communities that said the activity threatened marine life, fishing and tourism along the U.S. East Coast. The proposed offshore leasing program eliminates the administration’s initial plan to auction off drilling rights in as ...

Bloomberg The rally that made Brazilian assets the world’s best performers in 2016 is losing momentum as investors’ euphoria over prospects for change in government gives way to pessimism about how hard it will be to pull the country out of an economic malaise no matter who is in power. The Ibovespa equity gauge, Brazil’s currency and its bonds have ...

Bloomberg The U.S., once the world’s largest wheat exporter, is scheduled to import the grain this month from South America in the latest sign of how the country is losing its domination of the global trade. Even amid overflowing U.S. grain bins, there’s a ship destined to reach North Carolina shores this month with supplies from Argentina. Olympos, the vessel ...

Bloomberg If you want to watch the Disney Channel or BET in the U.S., you pretty much need a costly pay-TV plan, one with hundreds of networks you couldn’t care less about. In other countries, it’s increasingly a different story. Entertainment companies led by Viacom Inc., 21st Century Fox Inc. and Walt Disney Co. are forging ahead internationally with online ...

Doha / EMIRATES BUSINESS Despite reports of market gloom, Qatar’s residential rental levels continued to expand unabated during 2015, rising by approximately 7 percent year-on-year during the second half of 2015. But this was down from 14 percent annual growth achieved during the same period in 2014. Smaller apartment units, particularly those within central locations, remained in high demand, although ...

CAIRO / EMIRATES BUSINESS Egyptian real estate company Abraj Misr signed a 1.1 billion Egyptian pounds strategic partnership with SIAC holding to carry out the construction works for its first and largest residential, administrative, smart and eco-friendly project, which is dubbed as ‘The Gate’. The 400.000 sqm project is set to be completed within 24 months. Placed in the heart ...