Gaza City / AFP Palestinian movement Hamas has thanked Turkey for its efforts on behalf of Gazans in a weekend reconciliation deal with Israel but urged it to increase pressure for an end to a decade-old blockade. In its first reaction to the agreement, Hamas expressed its “thanks and gratitude to Turkish President (Recep Tayyip) Erdogan” and the Turkish ...

  Bloomberg As markets went into turmoil and the pound plunged to a three-decade low after Britain voted to leave the European Union, the Bank of England issued an early morning statement and its governor stepped in with a pledge to provide an extra 250 billion pounds (US$345 billion) for the financial system. He also said the BOE has further ...

  Bloomberg Soros Fund Management took a short position in Deutsche Bank AG of about 7 million shares as turmoil from the UK’s decision to leave the European Union sent bank stocks lower. The position taken was equivalent to 0.51 percent of Deutsche Bank’s share capital, according to a German filing. The document doesn’t show at which price the fund ...

  Bloomberg It’s been blamed for fighting inflation at the expense of the economy and turning its targets into ‘fetishes.’ Now Russian lenders say the central bank’s latest swipe at price risks is putting pressure on their bottom line and credit. Reserve-ratio requirements will be increased by 75 basis points from Aug 1 for ruble and foreign-currency liabilities, policy makers ...

  Bloomberg European Central Bank President Mario Draghi avoided mentioning the UK’s vote to leave the European Union and called for greater alignment of policies globally to mitigate the spillover risks from ultra-loose monetary measures. “We can benefit from alignment of policies,” Draghi said at the ECB Forum in Sintra, Portugal. “What I mean by alignment is a shared diagnosis ...

  Bloomberg Here’s some advice that wealthy Asians are getting from their private bankers after Britain’s vote to quit the European Union has thrown markets in turmoil: Add to corporate credit, avoid risky assets and expect UK property prices to drop. Credit Suisse Group AG, Citigroup Inc and United Overseas Bank Ltd are telling clients that higher-quality corporate bonds are ...

  Bloomberg The Bank of Japan offered to supply US$1.475 billion at a regular dollar funding operation after global financial markets plunged in the wake of the UK’s referendum to leave the European Union. The funding covers the period from June 30 to July 8 and was the biggest amount accepted since the end of December 2014, when US$1.528 billion ...

  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 ...

  SHARJAH / Emirates Business Sharjah is known for its natural beauty and attractive manmade lagoons and parks, making it a favourite destination for families any time of the year, especially during the summer when schools in the region close for summer vacation. As the region celebrates Ramadan, summer this year has become all the more special for visitors to ...

  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 ...