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  Bloomberg After weeks of political turmoil, a semblance of stability is returning to U.K. politics, and the pound is feeling the benefit. Sterling is headed for its longest winning streak in two months before Theresa May took over as prime minister on Wednesday, ending a period of political instability that has lasted since the U.K. voted to leave the ...

  Bloomberg Oil fell from the biggest gain in three months after U.S. industry data showed the nation’s crude stockpiles increased, adding to concerns about oversupply. Futures lost as much as 1.5 percent in New York. Inventories rose 2.2 million barrels last week, the American Petroleum Institute was said to report. Government data Wednesday is forecast to show a decline. ...

  Beijing / AFP China warned rivals Wednesday against turning the South China Sea into a “cradle of war” and threatened an air defence zone there, after its claims to the strategically vital waters were declared invalid. The surprisingly strong and sweeping ruling by a UN-backed tribunal in The Hague provided powerful diplomatic ammunition to the Philippines, which filed the challenge, ...

  DUBAI / Emirates Business Al Habtoor Group Vice Chairman and CEO Mohammed Al Habtoor inaugurated Dubai’s largest and newest catering facility – Metropolitan Catering on Tuesday in the presence of local media and VIP clients. The state of the art facility, located in the Jebel Ali Free Zone, offers private, corporate and commercial catering of uncompromising quality and unbeatable ...

  Dubai / Emirates Business Consumers in Dubai appeared to be more optimistic on the overall state of the economy and job prospects compared to six other leading cities in the world in an analysis of consumer confidence conducted by the Department of Economic Development (DED) in Dubai. The comparative study showed that the overall Consumer Confidence Index (CCI) for ...

  RITIKA SHARMA / Emirates Business The UAE is not only doing exceptionally well in terms of tech-aided travel solution, but also emerging as a trendsetter for innovative technology-based services in the regional travel industry, experts believe. The country has proved that the right technology mix can make a huge difference and strengthen the travel industries across countries, they opine. ...

  Bloomberg India is due to announce a successor to central bank Governor Raghuram Rajan. To get a sense of what traders expect, look at bank stocks. The NSE Nifty PSU Bank Index, which comprises 12 state-owned lenders, has rallied 21 percent over the past two months, as speculation about Rajan’s exit intensified. That compares with about a 10 percent ...

  Bloomberg U.S. Treasury Secretary Jacob J. Lew is set to meet with European Union antitrust chief Margrethe Vestager this week as she prepares to deliver a final verdict on a probe into Apple Inc.’s tax affairs in Ireland. The showdown comes days after Vestager’s team came up with two possible scenarios on how much tax Apple owes in Ireland, ...

  The Hague / AFP An international tribunal ruled on Tuesday against China’s claims it had “historical rights” in the South China Sea in a bitter dispute that risks further stoking regional tensions. Manila — which had lodged the suit against Beijing —welcomed the decision by the Permanent Court of Arbitration but Beijing reacted furiously, saying it “neither accepts nor ...

  Damascus / AFP Syria’s army has extended a nationwide truce for another three days, but continued Tuesday to press its campaign against rebels in the battered northern city of Aleppo. In a statement late Monday, the armed forces said it would “extend the freeze on fighting on all Syrian territory for 72 hours beginning at 00:01 on July 12.” ...