June, 2016

• 27 June

  Al Habtoor City hotels to open in August

  

    Dubai / Emirates Business Al Habtoor Group Chairman Khalaf Ahmad Al Habtoor said all three of the luxury hotels within the Hotel Collection at Al Habtoor City will be open by the end of Summer, following the successful opening of the W Dubai – Al Habtoor City last week, and The St. Regis Dubai at the end of last ...

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• 27 June

  Comedy, illusion to rule Abu Dhabi summer season

    Abu Dhabi / Emirates Business A never-before-seen entertainment extravaganza is set to capture the hearts and minds of audiences in this year’s edition of the Abu Dhabi Summer Season, as first-time comedy greats and a thrilling illusion show descend upon the capital city from all corners of the world. Running between July 7 and September 11, venues across Abu ...

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• 27 June

  Is US middle class moving up?

  

    WASHINGTON It turns out that the middle class isn’t stagnant after all. You know the conventional wisdom. The richest 1 percent of Americans have siphoned off all the income gains of recent decades. Everyone else is treading water. The claim has been repeated so often that it’s taken on the aura of truth. The reality is different: Living standards ...

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• 27 June

  UK-EU coop vital to tide over Brexit

    A new confrontation is in the offing between London and Brussels over the timing of Brexit process, as the EU wants the UK to immediately invoke the Article 50 to start the exit process to allay concerns of possible domino effect, and reassure perturbed markets. But London seeks an orderly exit during which the new relationship will be defined ...

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• 27 June

  Trump, Clinton push opposing economic plans

    Albert R. Hunt The contempt that Hillary Clinton and Donald Trump express for each other will continue to play out in vitriolic sound bites. But their profound differences on what to do about the economy and the struggling middle class are far more important. “This election will be won by whichever candidate convinces middle-class voters they are better for ...

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• 27 June

  Why China both loves and fears the rule of law

    This month, the rule of law and China’s legal profession at large have received a lot of attention. This is out of recognition that both will be necessary to advance the country’s economic development, and yet both present a challenge to the Chinese Communist Party’s (CCP) domination of China’s political agenda. On June 8, the “Hundred Jurists and Hundred ...

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• 27 June

  Pound slumps, banks tumble on Brexit fallout; bonds extend gains

  

    BLOOMBERG The aftershocks of the U.K.’s vote to leave the European Union reverberated across financial markets after a weekend of political turmoil, with the pound extending its record selloff and European equities dropping to levels last seen in February. Sterling fell below Friday’s lows with a 3.7 percent slide to the weakest since 1985 and the FTSE 100 Index ...

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• 27 June

  Gold rises for second day as investors seek havens after UK’s exit

  

    Bloomberg Gold rose a second day as financial markets continued a selloff following the U.K.’s vote to exit the European Union, with inflows into bullion-backed funds surging the most by value since 2012. Bullion for immediate delivery advanced as much as 1.5 percent to $1,335.55 an ounce before trading at $1,326.50 at 2:27 p.m. in Singapore, according to Bloomberg ...

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• 27 June

  To buy or not to buy Europe stocks is value hunters’ dilemma

  

    Bloomberg Europe’s largest money managers are divided on whether to venture near the region’s stocks after the biggest-ever slump made them a steal, going by history. Amid concern that U.K. secession threatens Europe’s political and economic stability, the Euro Stoxx 50 Index dropped 8.6 percent on Friday, led by a record selloff in bank shares, while volatility jumped. That ...

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• 27 June

  Singapore realty gets a prop with a whiff of Brexit

  

    Bloomberg For all the damage it’s doing to a fragile global economy, Brexit might have some unintended positive consequences. Among them, perhaps, a soft landing for Singapore’s wobbly property market. With hindsight, the seemingly excessive S$3.4 billion ($2.5 billion) that Qatar Investment Authority paid BlackRock this month to buy an office tower amid a glut of commercial space could ...

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