June, 2016

• 29 June

  King thanked for game-changer Madinah projects

  MAKKAH / TNS The Council of Ministers during their weekly meeting on Monday thanked Custodian of the Two Holy Mosques King Salman for launching a number of new development projects worth over SR4 billion in Madinah, referring to health, education, water and sanitation projects; and for ordering an extra SR1,691 for all the country’s beneficiaries of social aid. The Cabinet ...

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• 29 June

  Total wins stake in Qatar’s largest oil field

  

    DOHA / Reuters Total has won a 30 percent stake in a new 25-year contract to operate Qatar’s largest offshore oilfield, officials said on Monday, in the second major upstream development deal for the French oil firm in the Gulf region in as many years. State-owned Qatar Petroleum (QP) will keep the remaining 70 percent in the new joint ...

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• 29 June

  Saudi deputy crown prince’s Paris visit finds favour with experts

    TNS After King Salman ascended the throne, relations with France have taken center stage in the Kingdom’s foreign policy. The ties got the added fillip following Deputy Crown Prince Mohammed bin Salman’s current visit to Paris, beginning Sunday. Jean Pierre Moline, an expert in defense policy for France and Europe, said security cooperation between the two countries is deep-rooted ...

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• 29 June

  EU leaves UK out in cold as PM race begins

  

    Brussels / AFP European leaders met on Wednesday without Britain for the first time in 40 years to prepare for life after the Brexit bombshell, as the race began to succeed Prime Minister David Cameron. Highlighting the seismic shock from last week’s referendum, one person who was in Brussels however was Scottish First Minister Nicola Sturgeon, “utterly determined” to ...

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• 29 June

  On Ireland’s border, Britain’s EU exit threatens jobs, peace

  

    Ireland / AP Hugh Maguire can’t believe the British really did it. The Northern Ireland farmer, like many residents along the United Kingdom’s virtually unmarked land border with the Republic of Ireland, faces the risk of financial ruin if Britain proceeds with plans to exit the European Union. EU farm subsidies provide most of his income from highland pastures ...

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• 29 June

  Mongolia votes amid economic uncertainty

  

    Mongolia / AFP Mongolians went to the polls across their sprawling, sparsely-populated country on Wednesday as it struggles to benefit from its vast natural resources amid disputes over foreign investment and slumping demand from neighbouring China. Squeezed between Vladimir Putin’s Russia and Communist China, Mongolia prides itself on its democracy, but voters expressed frustration with the country’s poor governance ...

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• 29 June

  Italy to remove corpses from salvaged migrant boat

  

    Rome / AFP Italy is to begin removing the remains of hundreds of people from a sunken migrant boat after raising it from the Mediterranean seabed and towing it to Sicily, the navy announced Wednesday. The boat’s sinking off Libya in April 2015 left as many as 800 people dead in the worst maritime tragedy in the Mediterranean since ...

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• 29 June

  The EU never made hearts beat faster in Europe

  

    Financial markets are still trying to make sense of Britain’s vote to leave the European Union, and almost everyone is wringing their hands over what it all means — popular anger at elites, an eruption of racism and xenophobia, the collapse of the liberal world order, the resurgence of English nationalism. The uncomfortable truth is that it’s probably all ...

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• 29 June

  Resilient Turkey must shape up its economy

    Ankara’s move to thaw tensions with both Tel Aviv and Moscow could counter the negative impact of terrorist attacks on Turkey’s tourism and economy, and end its current isolation. Tuesday’s attack on Ataturk airport in Istanbul came just as Turkey is rebuilding relations with Israel and Russia. Turkish Prime Minister Recep Tayyip Erdogan’s apology to Moscow prompted Russia’s President ...

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• 29 June

  What does Brexit mean for Abenomics in Japan?

      Mina Pollmann SPECIAL TO EMIRATES BUSINESS On June 23, British voters signaled their interest in leaving the European Union. The Brexit vote sent the Japanese yen shooting up in value, as risk averse investors turned to this traditionally “safe” currency. Japanese Prime Minister Shinzo Abe held an emergency meeting on Monday with the Bank of Japan (BOJ) and ...

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