June, 2016

• 28 June

  Royal Academy, Ajman organises ‘read-a-thon’ campaign

  

    Ajman / Emirates Business The Royal Academy, Ajman, part of the Lazar group of schools, held a read-a-thon ‘Educators at Heart’ recently. The programme was organised as part of the Reading Nation campaign initiative by Vice President and Prime Minister of the UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum to mark 2016 as ...

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• 28 June

  UK CEOs seek access to EU trade, workers after historic exit vote

  

    Bloomberg The vote is over but the campaign continues. With financial markets reeling from the Brexit vote, U.K. companies are stepping up lobbying to maintain access to the EU’s single market and labor, deepening potential rifts with British “Leave” voters who want to curb immigration. Prime Minister David Cameron has called an emergency meeting on Thursday of his Business ...

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• 28 June

  Rolls-Royce sticks to forecast as no Brexit ballot effect seen

  

    Bloomberg Rolls-Royce Holdings Plc, the U.K.’s biggest manufacturer, said business this year is in line with expectations and reiterated that the country’s vote to leave the European Union will have no immediate effect on the company, offering investors a rare bit of good news after days of turmoil in the markets. Underlying profit before financing charges and tax is ...

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• 28 June

  Maersk oil intensifies search for M&A

  

    Bloomberg A.P. Moeller-Maersk A/S is intensifying its search for acquisitions to build up its oil unit as the Danish shipping and petroleum conglomerate loses Qatar, the biggest field in its portfolio. “We’re getting some resources freed up now,” Maersk Oil Chief Executive Officer Jakob Thomasen said in an interview. “We appreciate the clarity that we now have after Qatar ...

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• 28 June

  Spanish economy grew 0.7% in second quarter: Bank of Spain

  

    Bloomberg The Spanish economy probably grew 0.7 percent in the second quarter as increased employment and favorable financing conditions supported consumption, the Bank of Spain said. Most recent data continued to show “robust growth” even as expansion of business investment showed a certain slowdown, the regulator said in its monthly economic bulletin published on Tuesday, citing preliminary data from ...

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• 28 June

  Challenge ahead: Finding $132bn to keep UK’s lights on

  

    Bloomberg As if managing the Brexit crisis weren’t enough, the U.K. government also needs to find £100 bn ($132 bn) to keep the lights on nationwide after 2020. With more than a dozen power plants due to close in the next decade, PM David Cameron’s government has been working to lay out incentives that will draw in money for ...

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• 28 June

  US, Mexico, Canada pledge 50% clean power by 2025

  

    Bloomberg The U.S. and Mexico will commit to joining Canada in boosting their use of wind, solar and other carbon-free sources of electricity, helping North America meet an ambitious goal of generating at least 50 percent of its energy from “clean” sources by 2025. The pledge is set to be made as part of a trilateral summit of North ...

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• 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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