March, 2016

• 19 March

  Equestrian art draws crowd at DIHF art gallery

  

  Sunaina Rana / Emirates Business From sophisticated oil paintings to mammoth sculptures, artists from across the globe exhibited their fine pieces of equestrian art in front of a crowd which has an eye for purebred Arabian horses, at the 12th Dubai International Horse Fair Art Gallery. Held under the patronage of HH Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler ...

  Read More »
• 19 March

  UAE gears up to honour mothers of the nation

  

  Dubai / Emirates Business Preparations are proceeding on-schedule and according to plans for the Mother of the Nation Festival and its five distinct activity zones, as announced by the organising committee at Abu Dhabi Tourism & Culture Authority. The update comes ahead of the Festival’s official launch on Thursday, March 24. With only five days remaining until the Festival opens ...

  Read More »
• 19 March

  UK’s PM Cameron names Europe backer to replace Brexit supporter

  

  Bloomberg Stephen Crabb, the ex-secretary of state for Wales, has been appointed to succeed Iain Duncan Smithas U.K. work and pensions secretary after the former Conservative leader resigned in protest at planned cuts to welfare payments for the disabled. The move comes after Duncan Smith dramatically resigned last night, sending PM David Cameron a two-page letter that attacked a series ...

  Read More »
• 19 March

  Moody’s raises Serbia’s rating to positive

  

  Bloomberg The outlook on Serbia’s junk credit rating was raised to positive by Moody’s Investors Service, which cited the country’s implementation of structural and fiscal reforms to help ease its debt burden. Moody’s left the Balkan nation’s sovereign debt rating at B1, four steps short of investment grade and on par with Vietnam and Kenya. Fitch Ratings has Serbia at ...

  Read More »
• 19 March

  Commerzbank extends more bond gains as market underestimates ECB

  

  Bloomberg Bonds are set to extend this week’s gains because investors are underestimating the power of the European Central Bank’s stimulus, says Commerzbank AG, ranked as the top dealer by Germany’s debt agency. Government securities across the euro zone rose this week as the Federal Reserve said on Wednesday it will raise interest rates more slowly than previously anticipated. Its ...

  Read More »
• 19 March

  Pound traders get new risk gauge before June 23 vote

  

  Bloomberg Next Wednesday marks exactly three months until Britain’s referendum on its European Union membership. That gives another opportunity for an insight into how concerned pound traders are about the outcome. The benchmark three-month gauge of volatility in sterling versus the dollar will cover the June 23 vote for the first time next week, giving traders another instrument to protect ...

  Read More »
• 19 March

  In oil price plunge, North Sea industry faces perfect storm

  

  Aberdeen / AP It’s Thursday night and the Spider’s Web watering hole is packed with beefy guys in windproof jackets and massive backpacks. The exhausted oil rig workers pile their bags against the wall, play pool or just slump in the leather seat. But despite the crowded atmosphere, there’s not much laughter. It’s not work that bothers them, but the ...

  Read More »
• 19 March

  Cuba plans to lift penalty on dollar, demands embargo end

  

  WASHINGTON / AP Cuba’s government said it plans to do away with a penalty on converting U.S. dollars, but warned the Obama administration not to expect more changes until the U.S. trade embargo is lifted. Three days before President Barack Obama visits the island, Cuban Foreign Minister Bruno Rodriguez dismisses Obama’s lofty rhetoric about using his visit to speak directly ...

  Read More »
• 19 March

  Colombia lifts key rate to curb fastest inflation

  

  Bloomberg Colombia’s central bank raised its benchmark interest rate for a seventh straight month as the inflation outlook continued to worsen and economic growth unexpectedly accelerated. In a split decision, the seven-member board voted to lift the key rate by a quarter point to 6.5 percent, bank Governor Jose Dario Uribe told reporters after the meeting in Bogota. Policy makers ...

  Read More »
• 19 March

  Brazil’s central bank shifts policy after Real’s surge

  Bloomberg Brazil is moving closer to unwinding a measure designed to shore up the nation’s currency as speculation President Dilma Rousseff will be impeached sparks a rally in the real. On Friday, the central bank said it will offer up to 20,000 foreign-exchange reverse swap contracts, which are equivalent to buying dollars in the futures market. The auction, which will ...

  Read More »