June, 2016

• 28 June

  Venezuela’s oil output decline accelerates as drillers go unpaid

  

    Bloomberg Venezuela’s oil output, already the lowest since 2009, is set to slide further this year as contractors scale back drilling after the cash-strapped country fell more than $1 billion behind in payments. The Latin American nation’s oil production, which generates 95 percent of export revenue, will decline by about 11 percent to 2.1 million barrels a day by ...

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• 28 June

  Brazil’s upside down coffee mkt means a tastier cup

  

    Bloomberg Brazil’s economy is turning sour, but the coffee is sweeter. A drought across robusta plantations this year has raised prices for the bitter-tasting type of coffee that’s usually the cheapest. In some cases, the beans are now more expensive than arabica, the variety preferred for high-end drinks because of its smooth flavor, and roasters are changing their blends. ...

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• 28 June

  Brazil’s Real wanes as UK’s exit dims appetite for risk

  Bloomberg The real joined a selloff in emerging markets as the U.K.’s vote to leave the European Union spurred concern the global economy will weaken at a time when Brazil is already facing its worst contraction in a century. The currency dropped 0.5 percent to 3.3928 per dollar, briefly extending losses after the U.K. was downgraded by S&P Global Ratings. ...

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• 28 June

  Luxury refefined

  

    Our Correspondent EMIRATES BUSINESS Jumeirah Golf Estates is one of the Middle East’s most prestigious residential golf communities, offering a wide range of world-class facilities and more than 1,700 individually designed homes (constructed and under construction) in the United Arab Emirates. Situated just 15 minutes from The Palm and Dubai Marina, Jumeirah Golf Estates is well placed to provide ...

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• 28 June

  Securing lives with better technology

  

    Our Correspondent EMIRATES BUSINESS Canon, world leader in imaging solutions, has announced the launch of eight new 2MP network cameras. The new range includes an outdoor 360⁰ endless panning model with 30x optical zoom and fast autofocus, and two new fixed box ‘bullet’ models with 20x optical zoom, a first for Canon. All eight new models were on display ...

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• 28 June

  London’s loss is Asia’s gain as realty funds seek safe havens

  

    Bloomberg London may have just shed its safe-haven property market tag with the U.K.’s vote to break away from the European Union. That’s good news for real estate markets in Asia that offer stability. Singapore, Hong Kong and Australia, which face headwinds including oversupply and high prices, may see money flowing into property as investors flee to safer assets ...

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• 28 June

  Crown Estate’s UK property rises almost 10% to $15.8 billion

  

    Bloomberg The Crown Estate, the property company that generates income for Queen Elizabeth II, said the value of its real estate rose 9.7 percent to a record 12 billion pounds ($15.8 billion). Total return, comprising of rental income and value increases, from its properties, wind farms and other assets was about 17 percent over the past year, the London-based ...

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• 28 June

  Cohen’s Point72 plans move to skyscraper in NYC’s Hudson Yards

  

    Bloomberg Billionaire Steven A. Cohen’s Point72 Asset Management agreed to move its New York offices to 55 Hudson Yards, the third skyscraper planned for Related Cos.’s $25 billion development on Manhattan’s far west side. Point72, the $11 billion firm that oversees Cohen’s wealth, plans to lease more than 175,000 square feet across six floors in the tower, according to ...

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• 28 June

  QIA mulls abandoning Credit Suisse office sale

    AP The Qatar Investment Authority is considering abandoning the sale of 1 Cabot Square, an office building in London’s Canary Wharf financial district leased to Credit Suisse Group AG, according to two people with knowledge of the matter. QIA was reviewing the sale plan even before the U.K. voted to leave the European Union, the people said, asking not ...

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• 28 June

  Silicon Valley’s latest startup offering is a whole city

  

    Bloomberg Y Combinator, the startup accelerator and investment firm that helped produce Airbnb, Dropbox, and Instacart, is embarking on a creation project arguably more ambitious than any company. “We want to build cities,” wrote Y Combinator partner Adora Cheung and President Sam Altman in an announcement slated for release Monday. YC Research, Y Combinator’s nonprofit arm, plans to solicit ...

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