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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 ...

  Dubai / Emirates Business New and emerging blockchain technologies are integral to supporting and realising a digital economy in the Middle East while ensuring effective protection against rapidly evolving threats of data security and cybercrime, said global consulting and technology firm Booz Allen Hamilton in a new report released on Tuesday. The report, titled ‘Blockchain Technology – Can the ...

  Bloomberg The vote is over but the campaign continues. With financial markets reeling from the Brexit vote, U.K. companies are stepping up lobbying to maintain access to the EU’s single market and labor, deepening potential rifts with British “Leave” voters who want to curb immigration. Prime Minister David Cameron has called an emergency meeting on Thursday of his Business ...

  Bloomberg The U.S. and Mexico will commit to joining Canada in boosting their use of wind, solar and other carbon-free sources of electricity, helping North America meet an ambitious goal of generating at least 50 percent of its energy from “clean” sources by 2025. The pledge is set to be made as part of a trilateral summit of North ...

  Bloomberg Brazil’s economy is turning sour, but the coffee is sweeter. A drought across robusta plantations this year has raised prices for the bitter-tasting type of coffee that’s usually the cheapest. In some cases, the beans are now more expensive than arabica, the variety preferred for high-end drinks because of its smooth flavor, and roasters are changing their blends. ...

  Dubai / Emirates Business The Mohammed bin Rashid Space Centre (MBRSC) and the American University of Sharjah (AUS) have announced the completion of the design and building of the communication Nanosatellite, Nayif-1. The satellite has also successfully passed all stages and tests, and is now ready for launch into space aboard SpaceX’s Falcon 9 Rocket. The UAE’s first Nanosatellite ...