June, 2016

• 26 June

  Saudi non-oil GDP growth to slow to 2.8pc

    Reuters Growth in Saudi Arabia’s non-oil gross domestic product is expected to slow to 2.8 percent in 2016 from 3.4 percent in 2015, Saudi central bank governor Ahmed al-Kholifey told state television station Ekhbariya. Kholifey, speaking in an interview broadcast late on Saturday, was responding to a question about Saudi monetary policy and economic growth given global financial market ...

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• 26 June

  Rosneft agrees to sell Siberia stake as Putin boosts China ties

  

    Bloomberg Rosneft PJSC, the world’s largest publicly traded crude producer, agreed to sell a stake in a key unit to China as Russian President Vladimir Putin seeks to bolster energy ties with Asia. The state-run company committed to negotiating the sale of 20 percent of its Verkhnechonsk unit to Beijing Enterprises Group Co., Rosneft said in a statement. The ...

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• 26 June

  London fears Brexit exodus of bankers, investment & jobs

  

    London / AFP Will Brexit threaten London’s long-booming economy? The British capital fears investors and bankers could flee the city after the shock nationwide vote, threatening its coveted reputation as a global financial hub. Some 60 percent of Londoners voted to stay in the EU in Thursday’s historic referendum, but the rest of the country cast their ballots overwhelmingly to ...

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• 26 June

  EU financial-services chief Hill resigns after historic plebiscite

  

    Bloomberg Jonathan Hill, sent to Brussels by U.K. Prime Minister David Cameron less than two years ago, resigned as the European Union’s financial-services chief in the wake of Britain’s vote to secede from the bloc. “As we move to a new phase, I don’t believe it is right that I should carry on as the British commissioner as though ...

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• 26 June

  French, German biz groups urge EU to ‘reunite’ after exit verdict

  

    Paris / AFP Business groups in France and Germany on Sunday said EU nations should respond to Britain’s decision to quit the bloc by working even more closely together to limit the “turbulence” caused by the Brexit shock. In an joint appeal published in the French Journal du Dimanche, the heads of Germany’s powerful BDI and BDA industry groups and ...

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• 26 June

  Dairy farmers sour as milk quota end brings price crash

  

    Rennes, France / AFP A surge in milk production since the EU lifted milk quotas has skimmed profits for dairy farmers, leaving them sour as authorities struggle to get to grips with the crisis. Last year the European Union finally got rid of its three-decade old milk production quotas that it had imposed to eliminate the milk lakes and butter ...

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• 26 June

  Foreign investors eye UK property after Brexit fallout

  

    AFP With property prices in Britain predicted to plummet post-Brexit, foreign investors, especially in Asia, are already poised for a buying spree. It is an ironic twist to the shock referendum result — many who opted to leave the European Union saw their vote as a deterrent to outsiders looking to take advantage of economic opportunities in Britain. The ...

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• 26 June

  Modi launches Smart City projects in Pune

  

    TRIBUNE News Service One year after the announcement of the plan, Indian Prime Minister Narendra Modi launched projects under the smart cities mission in Pune, officially kick-starting the ambitious project of the government. Projects with a total investment of Rs.2,900 crore were also launched on Saturday in states including Uttar Pradesh, Madhya Pradesh, Jharkhand and Odisha under the Atal ...

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• 26 June

  Decade after housing boom, pain is severe for US minorities

  

    AP When the U.S. housing bubble peaked a decade ago, soon to burst with far-reaching consequences, the pain was particularly severe for black and Hispanic Americans. A disproportionate number of minorities succumbed to subprime mortgages and foreclosures and lost their homes. Their collective loss of home equity and shift toward rental housing could widen America’s racial and ethnic divides ...

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• 26 June

  A tech thrust to your biz

  

    John Boitnott / TNS Every new customer converted is a battle won for a small business. It’s no easy task to reach a broad audience and convince strangers to trust your business with their money, especially when you lack the established reputation of a larger company. Luckily, there are many growth strategies for small businesses out there, from segmenting ...

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