June, 2016

• 19 June

  Brazil denies extensions on first solar farms amid slump

  

    Bloomberg Brazil has rejected requests from developers seeking more time to complete the country’s first large-scale solar farms, according to two people involved in the matter. The country’s energy regulator Aneel sent a statement to a group of solar developers that have committed to completing solar farms by 2017, denying their request for extensions of as long as two …

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• 19 June

  California power trader fined $2.4 million for market rigging

    Bloomberg U.S. energy regulators fined trading firm Etracom LLC $2.4 million for engaging in a scheme to rig the California power market. Etracom, a trading company formed in 2008, violated anti-manipulation rules in May 2011 when traders artificially drove down power prices at a point on the grid in eastern central California to reap profits, the Federal Energy Regulatory …

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• 19 June

  Carmike shareholders should oppose takeover: Glass Lewis

    Bloomberg Carmike Cinemas Inc. shareholders should vote against the proposed $1.1 billion takeover of the movie theater company by AMC Entertainment Holdings Inc., shareholder advisory firm Glass Lewis & Co. recommended in a note. Shareholders should vote against a proposal to approve the takeover as well as payouts to executives and authorization to adjourn a special meeting to give …

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• 19 June

  Why China isn’t too worried by expanding US-India ties

  

    Walter Andersen / Dániel Balázs SPECIAL TO EMIRATES BUSINESS US-India ties over the past few years have become increasingly close, but this movement has evoked limited response in China. Beijing’s composure is based on three factors: (1) Indian foreign policy is independent and free of strategic commitments to another countries; (2) India has been cautious in its handling of …

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• 19 June

  Reality or PR: Russia’s rising ‘soft power’ clout

    Last this week, the London-based PR outfit Portland Communications released its second annual list of nations with the greatest magnitude of “soft power.” Relying on Joseph Nye’s traditional delineation of “soft power” – attraction as influence; the “pull” to hard power’s “push” – the group, patching together a supposed formula, claimed to reveal the 30 nations with the largest …

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• 19 June

  Asia warns Britain: Don’t quit European union

    Anthony Fensom Asia’s leaders have warned Britain against contemplating a split from the European Union in its June 23 referendum, fearing the consequences for the global economy. With financial markets already showing the ill effects of nervousness over the risk of “Brexit,” global growth forecasts dropping and analysts warning of further fallout, the downside risk to Asia has rapidly …

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• 19 June

  Oz taxes foreign property buyers as affordability bites

  

    AFP Sydney is imposing new taxes on foreigners buying homes as concerns grow that a flood of mostly Chinese investors is crowding out locals and killing the “Great Australian Dream” of owning property. Ownership rates across the country are among the highest in developed nations, with having your own house long viewed as a key aspect of Australian identity. …

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• 19 June

  Asian buyers play role in Canada housing market: PM Trudeau

  

    AFP An influx of capital from Asia is partly to blame for soaring housing prices in Vancouver and Toronto, Canadian Prime Minister Justin Trudeau said. “We know that there is an awful lot of capital that left Asia in the past few years,” Trudeau told Canada’s public broadcaster CBC. “Obviously overseas money coming in is playing a role” in …

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• 19 June

  US homebuilder sentiment rises in June

  

    AP U.S. homebuilders are feeling more optimistic about their sales prospects this month than they have since the beginning of the year. The National Association of Home Builders/Wells Fargo builder sentiment index rose two points to 60. That’s the highest reading since January. Readings above 50 indicate more builders view sales conditions as good, rather than poor. The index …

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• 19 June

  Footballer Zidane to help sell Mumbai luxury home project

  

    Bloomberg Zinedine Zidane is renowned for his prowess on the football field. Now a Mumbai developer is counting on the retired French football star’s power off the pitch to revive flagging sales in the city’s luxury home market. Kanakia Spaces Pvt has hired the former attacking midfielder to market a high-end residential project named Paris in Mumbai’s new business …

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