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  Bloomberg U.K. Chancellor of the Exchequer George Osborne warned that leaving the European Union could spark a fiscal crisis, as “Remain” supporters battle to turn around a referendum campaign that’s slipping away from them. Reduced trade and investment would leave a 30 billion pound ($42 billion) “black hole” that would have to be plugged by increased taxes and cuts ...

  Dubai / WAM The Roads and Transport Authority (RTA) signed a Memorandum of Understanding (MoU) with the Dubai Culture and Arts Authority, (Dubai Culture) calling for enhanced cooperation and partnership between the two entities in designing and constructing the Etihad Museum Project along with the new Pole for a flag hoisting 123 meters above the ground. Abdul Rahman bin Mohammed ...

  Sunaina Rana / Emirates Business Speed is the key in data transfer. Exploring this aspect, UAE-based tech company Zero1 has adopted ‘LiFi’ — a technology that enables transmitting high-speed data using light — in its services. Light Fidelity (LiFi), which uses visible light communication (VLC) rather than radio bands, is poised to become US$113bn industry by 2022, according to ...

  Sharjah / Emirates Business Sharjah Commerce and Tourism Development Authority (SCTDA) is focusing on ambitious new initiatives to boost the Meetings, Incentives, Conference & Exhibition (MICE) tourism sector of the Emirate with a specialised study aimed at strengthening the sector’s role in attracting more tourists to Sharjah to reflect positively on the emirate’s economic performance. The study also seeks ...

  Geneva / AFP The number of unaccompanied children making the notoriously dangerous Mediterranean crossing aboard unseaworthy boats has more than doubled this year, the UN children’s agency said in a new report on Tuesday. Entitled “Danger every step of the way”, the UNICEF report said nine out of every 10 children arriving in Italy were unaccompanied minors, noting that more ...

  Shanghai / Bloomberg China’s near-term economic outlook is being buoyed by policy support even as its medium-term prospects become more uncertain because of rapidly rising credit, excess industrial capacity and financial sector risks, the International Monetary Fund said. Overall reforms have advanced impressively in areas from shifting to services as a greater driver of growth to liberalization of financial ...

  New Delhi / AFP Scientists from Britain and India will release underwater robots into the Bay of Bengal in a bid to more accurately predict the Indian monsoon critical to millions of farmers, they said on Tuesday. Researchers will also fly a plane packed with scientific equipment over the bay to measure the atmosphere as part of the multi-million ...

  ORLANDO / AP As thousands in Orlando turned out to mourn 49 people killed inside a nightclub, federal investigators examined possible motives for the gunman who committed the worst mass shooting in modern US history. The White House and the FBI said 29-year-old Omar Mateen, an American born Muslim, appears to be a “homegrown extremist” who had touted support ...

  Bloomberg Britain appeared to be on course to leave the EU, with four polls from three companies putting the ‘Leave’ campaign ahead of ‘Remain.’ The pound and European stocks plunged on Tuesday with just nine days of campaigning left before the June 23 referendum. After a series of new polls on Monday put “Leave” ahead, the day’s final blow ...

  Bloomberg Investors contemplating how London could look outside the European Union have already identified some potential victims: fast-growing British lenders that might have to face their first economic downturn as public companies. Billionaire Richard Branson’s Virgin Money Holdings UK Plc and small lenders like OneSavings Bank Plc have ridden the recovering economy of recent years to help them win ...