June, 2016

• 21 June

  Solar Impulse set to propel clean technology

  History of aviation is being rewritten in our lifetime, as the Solar Impulse 2 project is getting closer to completing a world tour in an ultralight one-man aircraft intended to demonstrate how best technology may provide solutions to combat global warming and advance aviation industry. The sun-powered Solar Impulse 2 set off from New York’s JFK airport early Monday, embarking ...

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• 21 June

  With climate change, doing the math matters

    Mark Buchanan sometimes say that there’s no need to rush in addressing climate change — that our constantly increasing wealth will eventually make the problem relatively inexpensive to solve. Thanks to some careful mathematical research, that argument is looking increasingly wrong. Placing a value on something that may happen 50 or 100 years from now isn’t easy. Economists typically ...

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• 21 June

  International N-community should pressure China to accept India’s NSG membership

    Bhavani Castro SPECIAL TO EMIRATES BUSINESS Indian Prime Minister Narendra Modi recently embarked on an impressive five-nation tour that included countries as diverse as Afghanistan and Mexico. Modi’s international travels have rendered fruitful results, bolstering diplomatic ties and giving India more visibility in the international community. The six-day tour included visits to Afghanistan, Qatar, Switzerland, the United States, and ...

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• 21 June

  ECB readies to gauge appeal of paying banks to lend money

  

    Bloomberg The European Central Bank is about to find out how attractive its offer to pay lenders to lend really is. Starting tomorrow, euro-area banks can bid for a four-year loan from the ECB at an interest rate that begins at zero and could ultimately be negative. The net take-up, after institutions repay their borrowings from an earlier and ...

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• 21 June

  Axa feels pain from low interest rates

  

    AFP France’s biggest insurer Axa has lowered its earnings target for the next few years and is seeking to cut costs as low interest rates take their toll on the industry’s profits. Axa, which is to unveil its new strategic plan Tuesday, said it now eyed an average annual increase in underlying earnings per share of between 3 and ...

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• 21 June

  PBOC discusses opening offshore yuan market

  

    Bloomberg China’s central bank said it has met with onshore lenders to discuss allowing them to trade in the offshore yuan market, a move that would accelerate convergence between the country’s two exchange rates. As the country increasingly opens up its currency market, Chinese commercial banks have a growing need for better integration between the onshore and offshore markets, ...

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• 21 June

  Nordea Bank rejects lack of capital speculations

  

    Bloomberg Scandinavia’s biggest bank said it has more than enough capital to meet regulatory requirements following a report it may need to turn to markets to fill an alleged shortfall. Nordea Bank AB said on Tuesday it had a common equity Tier 1 capital ratio of 16.7 percent in March, exceeding the 15.6 percent requirement set by the Financial ...

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• 21 June

  Brookfield, SBI to mull India stressed asset venture

  

    Bloomberg Brookfield Asset Management Inc. is in talks with State Bank of India, the country’s largest lender, about forming a joint venture to invest in stressed Indian assets, people with knowledge of the matter said. Brookfield, Canada’s largest alternative asset manager, has discussed investing about 70 billion rupees (US$1 billion) in the venture while SBI and its associate banks ...

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• 21 June

  Bank demand at BOE liquidity auction

  

    Bloomberg The Bank of England allotted less to banks in the second of its extra liquidity operations being held to assure sufficient funding around Britain’s referendum on European Union membership. Banks sought just 370 million pounds (US$546 million), compared with 2.46 billion pounds at the previous extra indexed long-term repo operation on June 14, according to the central bank. ...

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• 21 June

  Brexit vote close to a photo-finish

  

    Bloomberg Britain’s referendum on European Union membership remained too close to call two days before the vote, with separate polls showing leads for both sides and billionaire investor George Soros warning of a slump in the pound should voters back Brexit. A YouGov poll of 1,652 voters for the Times newspaper published late on Monday showed “Leave” at 44 ...

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