June, 2016

• 27 June

  Brexit unlikely to curtail Gulf appetite for UK property

    DUBAI / AFP Harrods, the Savoy, the Shard — London property has long been a magnet for Gulf investors and Britain’s vote to leave the European Union is unlikely to dampen their interest, analysts say. In fact, the Brexit vote could even see a surge in activity as wealthy Gulf buyers look to take advantage of the dramatic fall in ...

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• 27 June

  EU exit to prolong London’s housing woes, says Foxtons

  

    Bloomberg Foxtons Group Plc forecast lower 2016 revenue and profit as the U.K.’s decision to leave the European Union prolongs uncertainty in London’s residential property market. The shares fell to the lowest since the company’s stock-market debut. Earnings will fall significantly from a year earlier as “challenging conditions” hurt sales volumes, the London-based property broker said in a statement ...

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• 27 June

  Crystal Lagoons tech usage soars past $20bn in MENASA

  

    EMIRATES BUSINESS Crystal Lagoons, the multinational innovation company and developer of patented technology that makes giant crystalline lagoons a reality, has tallied up its current activity in the Middle East, North Africa and South Asia (MENASA) projects, revealing a presence in real estate developments worth a staggering US$20 billion. “We have developed our patented technology and proven business model ...

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• 27 June

  China eyes steel merger to create rival to ArcelorMittal

  

    Beijing / Bloomberg China’s second- and sixth-largest steelmakers by output have entered restructuring talks, which analysts say could presage a merger that would create the nation’s biggest mill, and a company with the scale to rival the likes of ArcelorMittal SA. Trading was suspended in the listed units of state-run Shanghai Baosteel Group Corp. and Wuhan Iron & Steel ...

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• 27 June

  Asean to press RCEP to cut tariffs on 92% of goods

  

    New Delhi / Tribune News Service Asean countries will propose to the 16 member states of the Regional Comprehensive Economic Partnership (RCEP) to eliminate tariffs on 92 percent of trade in goods to promote economic integration of the grouping soon. Sirinart Chaimun, director-general to the Trade Negotiations Department, said although Asean countries wanted the agreement to be finalised by ...

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• 27 June

  Nissan to drag S Korea to court over emission claims

  

    Tokyo / AFP Japanese automaker Nissan said on Monday it is taking South Korea to court in response to Seoul’s claims that it manipulated emissions data on a popular sports utility vehicle. Nissan noted that it has invested heavily in green car technology — particularly electric vehicles — and would continue to “strongly deny” South Korea’s claims. Nissan paid a ...

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• 27 June

  Malaysia’s YTL hunts for UK acquisitions amid Brexit shock

  Kuala Lumpur / Bloomberg Japanese automaker Nissan said on Monday it is taking South Korea to court in response to Seoul’s claims that it manipulated emissions data on a popular sports utility vehicle. YTL Corp., the Malaysian conglomerate which snapped up a British utility from the now defunct Enron Corp. more than a decade ago, is looking for bargains again ...

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• 27 June

  Network before you quit

  

    Amanda Pressner Kreuser / TNS For one reason or another, you’re itching to quit your job. Maybe you’ve maxed out your growth at your current company, you want to explore a totally new field, you’re feeling stifled by a new supervisor, or you’re ready to start your own business. The call for independence can be a pretty strong one, ...

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• 27 June

  Reviving the tunes of Germany

  

    Dusseldorf / DPA There’s a tremendous hullabaloo in the city concert hall as 1,000 primary school children aged between 6 and 10 chatter and laugh. But when the singing teachers step on to the stage and give a signal to each corner of the hall, silence descends in an instant. Moments later the hall resonates with the sound of ...

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• 27 June

  A powerhouse of diversity

  

    Our Correspondent EMIRATES BUSINESS Mulk Holdings is a multinational group of 20 companies with diversified business interests in manufacturing of Alubond USA brand of metal composites, interior and exterior design and fit outs, plastic industries, power generation, aluminium coil coatings, healthcare, real estate, commodities and solar energy. The company with its headquarters based in Hamariya Freezone Sharjah, UAE is ...

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