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Bank demand at BOE liquidity auction

  Bloomberg The Bank of England allotted less to banks in the second of its extra liquidity operations being held to assure sufficient funding around Britain’s referendum on European Union membership. Banks sought just 370 million pounds (US$546 million), compared with 2.46 billion pounds at the previous extra indexed long-term repo operation on June 14, according to the central bank. ...

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Brexit vote close to a photo-finish

  Bloomberg Britain’s referendum on European Union membership remained too close to call two days before the vote, with separate polls showing leads for both sides and billionaire investor George Soros warning of a slump in the pound should voters back Brexit. A YouGov poll of 1,652 voters for the Times newspaper published late on Monday showed “Leave” at 44 ...

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EU cash fails to win in UK’s Cornwall

  Newlyn, United Kingdom / AFP The EU has lavished more money on people in Cornwall than any other part of England, but that has not bought it popularity — and many in this remote southwestern peninsula will back Brexit in Thursday’s vote. In the harbour at Cornwall’s biggest port, Newlyn, fishing boats fly “Vote Leave” flags from their rigging, while ...

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French CEOs urge voters to back Remain

  London / Bloomberg The leaders of some of France’s top companies urged their British neighbors to stick with the EU to safeguard jobs and investment, less than 48 hours before polls open for the Brexit referendum. In a joint letter published in English on Tuesday, 34 corporations including 16 listed on France’s benchmark stock index, called on the U.K. ...

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Stocks gain with pound as dollar falls before Yellen’s testimony

  BLOOMBERG Investors took a positive cue from the latest polls on Britain’s referendum over European Union membership, with global stocks advancing and the pound rising to the highest level since before the vote date was set. The dollar weakened before Federal Reserve Chair Janet Yellen speaks on monetary policy. Sterling strengthened for a third day even as separate opinion ...

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India wheat imports seen surging to decade high on shortage

  Bloomberg India may import the most wheat in a decade as output declines in the world’s second-biggest producer. Imports may total 5 million metric tons in 2016-17, the most since 2006-07, according to the median estimate of seven traders surveyed by Bloomberg. Production is set to decline 1.8 percent to 85 million metric tons in the year through June ...

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Job-starved Brazil seeks gold amid rubble of a mine tragedy

  Bloomberg In the red-dirt hills of Minas Gerais, a part of Brazil named for the mines that provided livelihoods for generations, the country’s worst-ever environmental disaster has unearthed a new opportunity for locals stung by recession and job losses — panning for gold. Wildcat mining is on the rise in communities devastated by the collapse of a dam that ...

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Offering high quality system intergration

  Our Correspondent EMIRATES BUSINESS Over the past three decades, Dubai-based STME, the Middle East’s leading IT solutions provider and systems integrator, has been helping regional businesses adapt to ever-evolving technology enabling change within their organisations. “Innovation”, said Ayman Al Bayaa, CEO of STME, “is the key to maximising the processes and applications that drive business growth within the region ...

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Delivering value to the air transport community

  Our Correspondent EMIRATES BUSINESS SITA is the communications and IT solution provider that transforms air travel through technology for airlines, at airports and on aircraft. The company’s portfolio covers everything from managed global communications and infrastructure services, to eAircraft, passenger management, baggage, self-service, airport and border management solutions. Owned 100 percent by more than 400 air transport industry members, ...

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