June, 2016

• 23 June

  DMCC, China’s Zhongwei sign MoU to boost trade

    Dubai / WAM DMCC, the Government authority on trade, enterprise and commodities in Dubai, on Thursday announced the signing of a Memorandum of Understanding (MoU) with Zhongwei Ningxia Municipal People’s Government in China. The purpose of the Memorandum is to explore new collaboration, directives and initiatives to drive bilateral trade between DMCC and Zhongwei as part of the ‘One Belt One ...

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• 23 June

  Ramadan Majlis discusses right of persons with disabilities

    Dubai / Emirates Business The General Secretariat of the Executive Council of Dubai organized its second Majlis discussion during the second edition of the Ramadan Majlis. This falls under the umbrella of the Dubai Plan 2021, which aims to strengthen communication channels with various segments of society and encourage their involvement in achieving the objectives of the plan to ...

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• 23 June

  Britain votes in historic referendum on EU

  

    London / AFP Millions of Britons voted on Thursday in a bitterly-fought, knife-edge referendum that could tear up the island nation’s EU membership and spark the greatest emergency of the bloc’s 60-year history. A record 46.5 million voters registered to decide Britain’s future in the 28-nation European Union, which was born out of a determination to unite in lasting peace ...

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• 23 June

  Erdogan suggests UK-style referendum on Turkey EU bid

  

    ANKARA / AFP Turkish President Recep Tayyip Erdogan has suggested Turkey could hold a referendum over whether to continue its long-stalled accession process to join the European Union. Angrily lashing out at the bloc’s treatment of Ankara, Erdogan said Turkey could hold a referendum along the lines of the plebescite in Britain, where voters are deciding Thursday whether to ...

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• 23 June

  Paris braces for protest amid fears of violence

  

    Paris / AFP Paris was on high alert for more street clashes on Thursday as unions prepared another march against labour market reforms in a three-month protest campaign which has been marred by violence. The march is to take place after the another round of bitter negotiations in which the embattled Socialist government tried to ban the protest over security ...

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• 23 June

  Australians, NZealander, kidnapped in Nigeria

  Nigeria / AFP Three Australians, a New Zealander and a South African have been kidnapped along with two locals in Nigeria’s southeast after their vehicle was attacked, officials said on Thursday. The hold-up, in which the driver was shot dead, happened in the Akpabuyo district near the capital of Cross River state, Calabar, at about 7 am (0600 GMT) on Wednesday, ...

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• 23 June

  New Zealand’s central bank dials back public speaking

  

    Bloomberg New Zealand’s central bank has reduced its public speaking as it battles the opposing forces of a housing boom and weak inflation. The Reserve Bank has more than halved the number of on-the-record speeches it gives a year, from 18 in 2014 to eight last year and four so far in 2016. Of those, Governor Graeme Wheeler gave ...

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• 23 June

  BOC should be on guard with Fed to raise interest rates

  

    Bloomberg The USA Federal Reserve will raise interest rates as many as six times over the next 18 months and the Bank of Canada should be getting ready with increases of its own, Bank of Nova Scotia Chief Economist Jean-Francois Perrault said. While both central banks will be cautious about snuffing out recoveries, the USA job market will have ...

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• 23 June

  Norway keeps rates at record low

  

    Bloomberg Norway’s central bank left its benchmark rate unchanged at a record low amid signs the economy of western Europe’s biggest oil producer will narrowly avoid a recession thanks to record fiscal and monetary stimulus. The rate was left at 0.50 percent, as forecast by 14 of 15 analysts surveyed. The bank raised its outlook for rates looking ahead, ...

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• 23 June

  Banks to face potential penalty in Australia rate cases

  

    Bloomberg Three of Australia’s largest banks face maximum potential penalties of A$231 million (US$173 million) if they lose civil suits related to alleged rigging of an interest rate benchmark, a fraction of their combined first-half profits of A$10 billion. The Australian securities regulator has filed separate legal actions against Australia & New Zealand Banking Group Ltd, National Australia Bank ...

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