June, 2016

• 25 June

  Andhra Pradesh OKs Swiss Challenge model to develop Amaravati

  

    Tribune News Service Andhra Pradesh will take the help of two Singapore companies to build Amaravati as a “world-class capital”, chief minister N. Chandrababu Naidu said, providing clarity on development plans eight months after the foundation for the new capital was laid. The state cabinet, at a meeting on Friday, gave its nod to develop the capital with help ...

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• 25 June

  Business cautions costly divorce for UK PLC

  

  Bloomberg As executives digest the news of the U.K.’s vote to leave the European Union, they’re cautioning that business will suffer — affecting everything from beach vacations to wristwatch ads to initial public offerings of stocks. Companies exposed to the U.K. economy warned that the decision could slow growth and prompt them to cut their investments in the country, and ...

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• 25 June

  Pound traders regroup after EU vote almost no one envisioned

  

    BLOOMBERG The pound just had its worst day ever, and few analysts expect the U.K. currency to recover all of the losses that sent it to its lowest level since 1985 — at least, not in the foreseeable future. BNP Paribas SA, one of the biggest sterling bulls before Britain voted to leave the European Union, cut its third-quarter ...

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• 25 June

  Spanish bonds set for volatility with repeat election looming

  

    Bloomberg Spanish government bonds may see more volatility next week after voters go to the polls on Sunday to try to break a six-month political deadlock over who will govern the euro region’s fourth-largest economy. The nation’s securities plunged on Friday, with the 10-year yield jumping the most this year, after Britain voted to quit the EU. Riskier assets ...

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• 25 June

  EU farmers brace for trade fallout in wake of Brexit

  

    Bloomberg The U.K.’s decision to walk away from the EU may throw billions of pounds worth of agriculture trade into question as politicians prepare for a lengthy wrangle over future policy. The EU is the biggest customer for U.K. food and drink exports, with last year’s sales, excluding alcohol, valued at £8.9 billion ($12.2 billion), according to the Food ...

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• 25 June

  US stocks tumble the most in 10 months after UK exits EU

  

    Bloomberg U.S. stocks plunged the most in 10 months, joining a selloff in global risk assets on speculation that the the U.K. decision to leave the European Union will hamper worldwide growth. Equities sank to session lows in afternoon trading, with the Dow Jones Industrial Average sliding more than 600 points. The S&P 500 Index extended losses after falling ...

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• 25 June

  Mexico cuts spending after historic vote causes assets to tumble

  

    Bloomberg Mexico announced it would cut federal spending by 31.7 billion pesos ($167.9 billion), reducing the country’s international funding needs as emerging-market assets worldwide tumble following the U.K.’s decision to leave the European Union. A decision on whether to increase the country’s key interest rate will be made next week at a June 30 board meeting after analyzing the ...

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• 25 June

  Brazil beef shippers see opportunity in UK exit

  

    Bloomberg Britain’s decision to leave the Europe Union buffeted markets, spurred panic on global trading floors and prompted U.K. Prime Minister David Cameron to resign. But for Brazil’s meat industry, the Brexit vote sounded like opportunity knocking. As a net-importer of food, the U.K. will probably have to adopt more flexible rules and be more opened to imports from ...

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• 25 June

  Chevron costs at Vaca Muerta shale drop 20% nearing goals

  

    Bloomberg The cost to drill wells at Argentina’s Vaca Muerta, site of the world’s second-biggest shale reserves, has dropped 20 percent this year, putting Chevron Corp. and its partners closer to meeting spending goals. Drilling costs at the Loma Campana field in Vaca Muerta have declined to $11.2 million per well from $14 million in the last three months ...

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• 23 June

  Mohammed’s decree to reshape board of Appreciation Award

    DUBAI / WAM In his capacity as Ruler of Dubai, Vice President and Prime Minister, His Highness Sheikh Mohammed bin Rashid Al Maktoum, issued Decree No (10) of 2016 on the restructuring of the Board of Trustees of the Dubai Appreciation Award for Community Services. The Decree named Dhahi Khalfan Tamim, Chairman of the Board of Trustees and Major ...

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