Brussels / AFP The EU said on Monday it was looking for support from the European Investment Bank at crisis talks in Brussels aimed at helping dairy and other farmers hit hard by plunging prices. Around 100 farmers protested as agriculture ministers gathered just six months after Brussels announced a €500-million emergency package to tackle a crisis partly blamed on ...
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Here’s what’s at stake for London’s trading share in a ‘Brexit’
Bloomberg A British exit from the European Union may not be an immediate shock to London’s standing as a global financial hub. The City, after all, just got a vote of confidence from Europe’s biggest exchange operators, who are considering a 20 billion pound tie-up that would place its holding company in London. Deutsche Boerse AG and London Stock Exchange ...
Read More »Bond traders can’t sleep as Fed policy becomes a foreign affair
Bloomberg Even in the mighty U.S. Treasury market, bond traders are taking their cues from central bankers in Europe and Japan. With Mario Draghi and Haruhiko Kuroda pressing ahead with their grand monetary experiments, negative yields in Germany and Japan are exerting greater and greater influence over U.S. Treasuries. Overnight trading of Treasury futures has exploded, reaching levels not seen ...
Read More »Protest, graft can’t deter Brazil mall operator’s growth
Bloomberg Gazit-Globe Ltd., which manages commercial real estate worth about $21 billion in more than 20 countries, is extending its Brazilian business even as the country suffers the worst recession in over a century and the streets swell with protesters clamoring for mass political change. The company will invest $1 billion this year to expand existing shopping centers in Sao ...
Read More »Argentina completing law to boost consumption of clean energy
Bloomberg Argentina is poised to approve the final details of a new law designed to give a boost to renewable energy as President Mauricio Macri steps up his efforts to fight climate change. The law will impose fines on large users of electricity that don’t get at least 8 percent of their power from renewable sources, starting in 2018, according ...
Read More »Chile’s inflation rate falls in Feb as economy weakens
Bloomberg Chile’s inflation rate fell for the first time in three months in February after the economy expanded at the slowest pace in almost six years. Consumer prices rose 4.7 percent from the year earlier, the National Institute of Statistics said in a report on its website, compared with 4.8 percent the month before. The median estimate of 19 analysts ...
Read More »Ignored for years, a radical economic theory is gaining converts
Bloomberg In an American election season that’s turned into a bonfire of the orthodoxies, one taboo survives pretty much intact: Deficits are dangerous. A school of dissident economists wants to toss that one onto the flames, too. It’s a propitious time to make the case, and not just in the U.S. Whether it’s negative interest rates, or helicopter money that ...
Read More »China Overseas buys Citic’s property assets for $4.8 bn
Bloomberg China Overseas Land & Investment Ltd. said it will buy the Chinese residential property assets held by Citic Ltd. for about 31 billion yuan ($4.8 billion), as it expands its presence across the nation’s cities amid surging land prices. China Overseas will sell 1.1 billion shares at HK$27.13 each to the Citic companies as part of the transaction, it ...
Read More »Anbang expands US hotel foray with $6.5 bn deal
Bloomberg Anbang Insurance Group Co.’s $6.5 billion agreement to buy 16 U.S. luxury resorts and hotels from Blackstone Group LP marks a record transaction for Chinese buyers of American real estate, showing the strong appetite for high-profile properties viewed as stable investments. The pending acquisition of Strategic Hotels & Resorts Inc. will give Anbang ownership of trophy properties across the ...
Read More »Online flea shopping in UAE on an upward swing: Survey
Emirates Business High rents, extortionate school fees and increasing levels of consumer debt, are prompting a growing number of the UAE’s expat community to re-think their spending patterns. One of the ways they adopt to rein in their financials is to buy second-hand goods. Many of them earn a few bucks by selling some of their own unwanted items too, ...
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