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  Bloomberg Brazil’s new central bank chief Ilan Goldfajn suggested it’s too early to think about cutting rates as inflation remains above target and the government has yet to implement budget cuts. Short-dated swap rates rose. Consumer prices will increase 4.7 percent next year, still above the target set by the government, the central bank said in its quarterly inflation ...

  Dubai / Emirates Business Dubai has recorded continued progress and retained its position as the most transparent real estate market in the Middle East and North Africa (MENA) region, according to JLL and LaSalle Investment Management’s 2016 Global Real Estate Transparency Index (GRETI). The Emirate placed (48th) out of 109 markets covered globally to remain in the ‘Semi-Transparent’ category, ...

New Delhi / Bloomberg India’s plan to replace energy-intensive appliances with more efficient designs is expected to save as much as 600 billion rupees ($8.9 billion) a year, according to the head of the government arm spearheading the country’s drive. The federal power ministry’s plan to replace incandescent lights with LED bulbs and use energy-efficient irrigation pumps, fans and air ...

  London / AFP Britain’s exit from the European Union may erode the bloc’s leadership role in fighting climate change and stymie crucial efforts to set more ambitious targets for cutting greenhouse gases, officials and experts said. The damage will become worse the longer the divorce proceedings drag on, or if Brexit inspires other EU nations to follow suit, they said. ...

  Dubai / Emirates Business There is room in the global market for an official ‘Made-in-UAE’ trademark, one that would play an instrumental role in the growth of the country’s manufacturing sector, according to Erwin Bamps, CEO of Emirates-based yacht and boat builder, Gulf Craft. A government regulated national label would not only lend credibility to the country’s producers through ...

London / AFP Britain’s two main political parties were in Brexit turmoil on Tuesday as the race to succeed Prime Minister David Cameron began in earnest and opposition leader Jeremy Corbyn faced a no-confidence vote from Labour MPs. Five days after the shock vote for Britain to leave the EU, the two parties that have dominated Westminster for nearly a ...

  Lebanon / AFP Lebanese troops raided makeshift refugee camps near a predominantly Christian village on the border with Syria on Tuesday a day after two waves of suicide attacks. But Interior Minister Nuhad Mashnuq said the attackers who carried out Monday’s violence had come from inside Syria, not refugee settlements nearby. “We are worried that there are more terrorists, so ...

  RITIKA SHARMA / Emirates Business Governments of the GCC nations are being lauded by experts globally for their unwavering drive towards innovation in the segment of financial technology, commonly known as ‘FinTech’. Gauging its long-term rewards and sustainability in the financial sector, UAE is working towards enhancing the FinTech infrastructure by connecting stakeholders to support innovations upto the optimum ...

  RITIKA SHARMA / Emirates Business Industry leaders and stakeholders active in the exhibitions industry in the Middle East and Africa (MEA) region are playing a major role in stabilising the regional economy by creating thousands of jobs every year, experts emphasise. Figures state that the region hosts around 30,000 exhibitions per year and they typically generate upto 680,000 full-time ...

  Jakarta / Agencies Indonesia’s parliament on Tuesday passed a tax amnesty bill in a bid to give Southeast Asia’s top economy a multi-billion-dollar boost, defying criticism the move will let evaders off the hook. The government believes the amnesty can bring in 165 trillion rupiah ($12.4 billion) of additional revenue this year by offering low rates to those who ...