June, 2016

• 22 June

  Trumponomics is scarier when you actually study it

  

    Hillary Clinton is trying to scare the heck out of voters who think Donald Trump’s business record qualifies him to be president. He has no real economic strategy beyond over-the-top promises, she said on Tuesday, and the few ideas he offers would cause millions of Americans to lose their jobs. “Just like he shouldn’t have his finger on the ...

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• 22 June

  A change of address for Mongolia

    Peter Bittner SPECIAL TO EMIRATES BUSINESS The Mongol Post, the newly-privatized national Mongolian mail carrier, plans to adopt a new and wildly innovative address system this summer in partnership with what3words, a U.K.-based tech company. Each address will be denoted by a three-word phrase representing a specific 9-square-meter GPS coordinate. Effective on August 1, the Mongol Post’s new nomenclature ...

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• 22 June

  VW is in too much of a hurry to move on

    Leonid Bershidsky Volkswagen made every effort to leave its diesel emissions scandal behind this week. It planned to announce a $10 billion deal with U.S. car owners and a fix for their cars, hold a general shareholders’ meeting on Wednesday and settle down to implement its new strategy, announced on June 16. VW’s management and top shareholders haven’t, however, ...

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• 22 June

  London’s builders see relief from pound drop on Brexit

  

    Bloomberg London home builders are counting on a weaker pound to tempt buyers back into the city’s beleaguered luxury-homes market if the U.K. votes to leave the European Union. “We have seen a lot of overseas interest and they are waiting until the result,” said Rob Perrins, chief executive officer of Berkeley Group Holdings Plc. “When you have got ...

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• 22 June

  Lennar’s Q2 profits soar as rising jobs spur home sales

    Bloomberg Lennar Corp., the second-largest U.S. homebuilder, reported fiscal second-quarter earnings that beat analysts’ estimates as the improving job market helped boost sales. Net income for the three months through May was $218.5 million, or 95 cents a share, compared with $183 million, or 79 cents, a year earlier, the Miami-based company said in a statement on Tuesday. The ...

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• 22 June

  Fed cautions of vulnerabilities in realty

  

    Bloomberg The Federal Reserve warned that prices in the commercial real-estate market may have run up too far too fast. Valuations in commercial real estate “appear increasingly vulnerable to negative shocks, as CRE prices have continued to outpace rental income,” the Fed said in its semiannual Monetary Policy Report to Congress. The Fed noted that prices exceed their pre-crisis ...

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• 22 June

  Amsterdam housing mkt shows signs of overheating

  

    Bloomberg It’s getting hot in the Amsterdam property market. The Netherlands, the nation of tulipmania almost 400 years ago, saw prices in its capital city surge almost 21 percent in the first quarter. While the blame partly falls on a simple supply-and-demand imbalance, the signs are pointing to a potential squeeze. In London, by comparison, government data show prices ...

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• 22 June

  New airline ready for takeoff as Cyprus tourism soars

  

    Larnaca / AFP As Cyprus emerges from a deep financial crisis, a new low-cost airline will launch next month to tap into the Mediterranean island’s resurgent tourism market. The country has been without a national carrier since the collapse of Cyprus Airways, the victim of a credit crunch that brought the country close to bankruptcy in 2013. But numbers of ...

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• 22 June

  New Madinah airport to serve 750,000 pilgrims

  

    Jeddah / Tribune News Service Work is undergoing at Prince Mohammed bin Abdul Aziz International Airport in Madinah to ensure preparedness with the arrival of a large number of pilgrims and visitors to perform Umrah and visit the Prophet’s Mosque. Airport officials have reached out to operating parties to ensure preparedness of the plan to facilitate arrivals and departures ...

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• 22 June

  H&M to double store count in India by year-end

  

    New Delhi / Tribune News Service Swedish fashion retailer Hennes and Mauritz (H&M) on Monday said it will double the number of its stores in the country from six to 12 by year-end. The Indian unit of Hennes & Mauritz AB, which entered India in October and currently operates stores in Delhi, Punjab and Bengaluru, will expand to Mumbai, ...

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