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  London / AFP Will Brexit threaten London’s long-booming economy? The British capital fears investors and bankers could flee the city after the shock nationwide vote, threatening its coveted reputation as a global financial hub. Some 60 percent of Londoners voted to stay in the EU in Thursday’s historic referendum, but the rest of the country cast their ballots overwhelmingly to ...

  Abu Dhabi / Emirates Business The UAE can achieve a whole new level of excellence and prosperity by making innovation a highlight of its strategic direction in a post-oil era, according to a new market analysis issued on Saturday. The report by PA Consulting Group says the UAE is a perfect example of how nations can emerge from being ...

  Abu Dhabi / WAM The UAE participated in the first annual meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB), the newly formed infrastructure development body, which was held from June 25 – 26 in Beijing, China. The Beijing meeting, attended by representatives of 57 member states, looked at measures to accelerate infrastructure development across Asia ...

  Syria / AFP US-backed fighters edged further into the IS group stronghold of Manbij on Saturday, threatening a key staging post on the extremists’ lifeline from Turkey to their “caliphate” in Syria and neighbouring Iraq. If it succeeds, the offensive on Manbij—backed by intense air strikes by a US-led coalition—would mark the most significant victory against IS for the Syrian ...

  Alkesh Sharma / Emirates Business Creativity and innovation are the buzzwords around which the future economic plans and strategies of the United Arab of Emirates revolve around these days. UAE leadership announced a detailed plan worth over AED300 billion to become a “knowledge-based economy” and end dependence on oil for sustainable growth. “UAE is witnessing burgeoning corporate ecosystem where ...

  LONDON / AP Britain has jumped. Now it is wildly searching for the parachute. The UK’s unprecedented decision to leave the European Union sent shockwaves through the nation and around the world, rocking financial markets, toppling Prime Minister David Cameron and even threatening the ties that bind the United Kingdom. Britons absorbed the overwhelming realization that their anti-establishment vote ...

  Tribal Areas / WAM The UAE-Pakistani Friendship Road, funded by the Abu Dhabi Fund for Development (ADFD) at cost of US$60.6 million, has been inaugurated in the Federally Administered Tribal Areas (FATA) in Pakistan. The move follows the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of ...

  Tokyo / Bloomberg Japanese companies, which have embarked on a $210 billion global acquisition spree over the past three years, are getting a surprise bargain out of Brexit. The yen soared to the highest in more than two years, boosting local firms’ purchasing power for deals abroad and potentially saving them hundreds of millions of dollars on purchases they’ve ...

Bloomberg As executives digest the news of the U.K.’s vote to leave the European Union, they’re cautioning that business will suffer — affecting everything from beach vacations to wristwatch ads to initial public offerings of stocks. Companies exposed to the U.K. economy warned that the decision could slow growth and prompt them to cut their investments in the country, and ...

  BLOOMBERG The pound just had its worst day ever, and few analysts expect the U.K. currency to recover all of the losses that sent it to its lowest level since 1985 — at least, not in the foreseeable future. BNP Paribas SA, one of the biggest sterling bulls before Britain voted to leave the European Union, cut its third-quarter ...