AP The British were warned for weeks that a vote to leave the European Union would result in economic pain. Now they’ll find out whether it will. UK financial leaders are scrambling to reassure households, businesses and investors that they can contain the doom and gloom they had predicted in case of a British exit, or Brexit. The pound ...

  Bloomberg Saudi Arabia appointed JPMorgan Chase & Co, HSBC Holdings Plc and Citigroup Inc to arrange its first international bond sale, people with knowledge of the matter said asking not to be identified as the decision isn’t public. The banks declined to comment, while calls to Saudi Arabia’s finance ministry outside office hours weren’t immediately returned. Saudi Arabia is ...

  Bloomberg Demand surged for bitcoin as a safe haven from the British pound, which plummeted after the UK voted to leave the European Union. The pound fell to its lowest in more than 30 years, driving demand for assets such as US Treasuries and gold. Stocks and bonds also fell, amid concerns that the UK’s exit from the European ...

  Bloomberg Marc Lasry, chairman and chief executive officer of hedge fund firm Avenue Capital Group, told Fox Business Network that the Federal Reserve is likely to hold interest rates steady after British voters’ decision to leave the European Union. “I don’t think the Fed’s going to raise rates right now,” Lasry told the business-news channel, according to excerpts from ...

  AP A new Chinese-led development bank has approved its first loans and expects to suffer no impact from Britain’s vote to leave the European Union, the bank’s president said Saturday at its first annual meeting. The Asian Infrastructure Investment Bank, launched in January with 57 member governments, already has received expressions of interest from possible additional members, said Jin ...

  Dubai / Emirates Business Smart Dubai Government Establishment (SDG), in co-operation with a number of its strategic partners in government entities, has organized a brainstorming session titled “Challenges of connected services” as part of its innovative activities and its efforts for developing government shared services, which are offered in partnership or collaboration with several government entities to ensure sustainable ...

  Dubai / Emirates Business The Telecommunications Regulatory Authority (TRA) received a total of 1,300 mobile applications participating this year at the second edition of the ALECSO Apps Award, a mobile app development competition launched by the Arab League of Educational, Cultural and Scientific Organization (ALECSO). TRA said its efforts to promote the event incorporation with ALECSO, have resulted in ...

  Abu Dhabi / Emirates Business Gulf Capital, one of the largest and most active alternative asset managers in the Middle East, received the international ISO/IEC 27001 certification from The British Standards Institution (BSI), the world’s first National Standards Body and a founding member of the International Organization for Standardization. This certification is created by a joint technical committee of ...

  Dubai / WAM The Ministry of Economy organized on Sunday an inspection of the Abu Dhabi Cooperative Society’s Abu Dhabi Mall branch as part of its ongoing programme to visit markets and retail stores across the UAE during the holy month of Ramadan. The initiative aims to ensure that prices are controlled and that commitments to sales offers and initiatives ...

  Dubai / WAM The Dubai Electricity and Water Authority, DEWA, has honoured 118 high-performing students who are enrolled in its scholarship programme for Emirati students in local and foreign universities. Saeed Mohammed Al Tayer, MD and CEO of DEWA, honoured the students who achieved high GPAs in the first semester of the academic year 2015/2016 in a ceremony held at ...