Jeddah / TNS The Eid Al-Fitr holiday is not only a great occasion for refreshing one’s faith and social relations, but is also a good length of time for Saudis and expatriates alike to take an extended holiday in which they can spend quality time with family and friends. At this time of year, a major attraction in the capital ...

  Bloomberg The political chaos since the U.K.’s vote to leave the European Union should be more of a concern for Electricite de France SA’s £18 billion ($23 billion) Hinkley Point nuclear power project than the slump in sterling. The drop in the pound to a three-year low against the euro will shave just a small fraction off the anticipated ...

  Bloomberg German government bonds fell for a second day as greater political clarity in the U.K. and the prospect of a boost to monetary stimulus globally supported stocks and reduced demand for the safest assets. Yields on the nation’s 10-year bunds, the euro zone’s benchmark government securities, climbed to the highest in a more than a week — days ...

  Bloomberg A flood of soured assets will come on the market in Italy if a referendum to overhaul the political system is approved in the autumn, said Keith Breslauer, founder and managing director of Patron Capital Partners. “The opportunity in Italy is far greater” than in the U.K. after it voted to leave the European Union, Breslauer said in ...

  Bloomberg Daimler AG rose the most in three weeks after the company solidified its lead in the luxury-car market and said it’s confident of reaching this year’s underlying profit goals, despite more than 1 billion euros ($1.1 billion) in one-time costs in the second quarter. Adjusted earnings before interest and taxes rose 5.6 percent to 3.97 billion euros in ...

  Prime Minister Shinzo Abe surprised no one when he led his Liberal Democratic Party (LDP) to victory in the Upper House elections on July 10. His party won 56 seats, and together with the Sokka Gakai-backed Komeito party, which won 14 seats, the Osaka Ishin no Kai, which won seven seats, and the Party for Japanese Kokoro, which did ...

  While some have been shocked by the result of the British referendum to decide whether the state either remains or leaves the European Union, all can agree that what has been even more surprising and discomforting have been both the open displays of xenophobia and the spike in hate crimes against migrants and minorities. The Leave campaign leading to ...

  Bloomberg Bank of England financial-stability officials discussed the risk that freeing UK banks to lend more may prompt them to reward investors instead. In the record of meetings held in the wake of Britain’s vote to leave the European Union, the Financial Policy Committee — lead by Governor Mark Carney — said the stability-risk outlook had “materially changed” and ...

  Bloomberg UniCredit SpA is selling as much as a 10 percent stake in online bank FinecoBank SpA and launching a review of its strategy as incoming Chief Executive Officer Jean Pierre Mustier seeks to boost capital. The bank will take “a more proactive approach” to its non-core loans, and the review will focus on further cost cuts and improving ...

  Bloomberg DNB ASA’s shares slumped after Norway’s largest bank missed profit estimates amid a jump in loan losses. Net income for the three months ended June 30 declined 10 percent to 4.45 billion kroner (US$525 million), missing the 4.85 billion-krone estimate in an analyst survey. Loan losses more than tripled to 2.32 billion kroner. Low interest rates drove net ...