June, 2016

• 29 June

  DSOA installs ME’s first Smart Street Solution at high-tech park

  

    Dubai / Emirates Business Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis (DSO), the integrated free zone technology park, in collaboration with Huawei, a leading global ICT solutions provider, on Wednesday installed the first Smart Street Solution in the Middle East region at the high-tech park. The Smart Street Solution incorporates a number of advanced ...

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• 29 June

  India aims at $8.9 billion in energy efficiency cost savings

  

  New Delhi / Bloomberg India’s plan to replace energy-intensive appliances with more efficient designs is expected to save as much as 600 billion rupees ($8.9 billion) a year, according to the head of the government arm spearheading the country’s drive. The federal power ministry’s plan to replace incandescent lights with LED bulbs and use energy-efficient irrigation pumps, fans and air ...

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• 29 June

  China shipbuilding to raise 3.9bn yuan to cut mounting debt

  

    Beijing / Bloomberg China Shipbuilding Industry Co. plans to raise as much as 3.9 billion yuan ($587 million) through a private share sale to reduce debt. The company intends to sell 718 million shares at 5.43 yuan each to its parent, China Shipbuilding Industry Corp., and two wholly owned units of the group, it said in a statement dated ...

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• 29 June

  Sri Lanka fears Brexit will hit its economy

    Colombo / AFP Sri Lanka said its trade would be hurt by the United Kingdom’s “nightmare” vote to leave the European Union, with $1 billion in annual exports to the British market now clouded by uncertainty. The South Asian nation famed for its tea and spices is on the brink of signing up to a scheme with the European Union ...

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• 29 June

  Global turmoil, drought and fish deaths slow Vietnam economy

  

    Hanoi / AFP Vietnam’s economy slowed in the first half of 2016, official figures showed on Wednesday, with a severe regional drought and a spate of fish deaths adding to losses caused by turmoil in global markets. GDP growth dropped to 5.52 percent in the first six months compared to 6.32 percent in the same period last year. The ...

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• 29 June

  Toyota recalls 1.43million vehicles

    Tokyo / Bloomberg Toyota Motor Corp. said it’s recalling about 3.4 million vehicles to repair separate flaws involving leaky fuel tanks and curtain air bags that may crack and injure occupants. The larger fuel tank recall affects 2.87 million vehicles worldwide, including Prius hybrids and Corolla compacts, the company said in an e-mail. Toyota said fuel emissions control canisters ...

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• 29 June

  Monsoon pickup spurs optimism as India yield near six-week low

  

    Tokyo / AFP India’s 10-year bond yield was near a six-week low as a pickup in monsoon rains eased concern that a reduction in crop output will stoke food costs. Total rainfall has been 13 percent below normal since June 1, according to the weather department. The shortfall was 25 percent mid-June. Investors are drawing comfort from this year’s ...

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• 29 June

  Brexit throws spanner into EU climate policy & targets

  

    London / AFP Britain’s exit from the European Union may erode the bloc’s leadership role in fighting climate change and stymie crucial efforts to set more ambitious targets for cutting greenhouse gases, officials and experts said. The damage will become worse the longer the divorce proceedings drag on, or if Brexit inspires other EU nations to follow suit, they said. ...

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• 29 June

  Exit from EU to hurt London in clearing, warns France’s Hollande

  

    Bloomberg French President Francois Hollande targeted a key pillar of the U.K.’s financial industry, calling into question the City of London’s status as a clearing hub after Britons voted last week to leave the European Union. “The City, which could make its clearing operations in euro, won’t be able to do so any more,” Hollande said after the first ...

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• 29 June

  Denmark dumped $750mn in kroner post EU poll

  

    Bloomberg Scandinavia’s biggest bank estimates Denmark sold almost $750 million in kroner to weaken the currency after it became clear early on Friday that Britons had voted to leave the European Union. The flight into safe-haven markets triggered by Brexit drove the krone to its strongest level against the euro in more than a decade, forcing the central bank ...

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