June, 2016

• 20 June

  Oil advances for 2nd day above $48 as dollar extends decline

  

    Bloomberg Oil gained for a second day above $48 a barrel as the dollar retreated, boosting the appeal of commodities priced in the U.S. currency. Futures rose as much as 1.3 percent in New York after climbing 3.8 percent. The Bloomberg Dollar Spot Index fell for a fourth day after closing at the lowest since June 9. Russian President ...

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• 20 June

  Colombia peso falls most in a month

    Bloomberg The Colombian peso led losses among emerging-market currencies amid concern the U.K. will vote to leave the European Union and after the Latin American nation increased its fiscal deficit target. The currency pared its drop as bets on a so-called Brexit decreased. The peso retreated 1.3 percent to 3,015.95 per dollar in Bogota, after slumping as much as ...

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• 20 June

  Japan’s ‘new approach’ to Russia

  

    James D.J. Brown SPECIAL TO EMIRATES BUSINESS On May 6, 2016, Prime Minister Shinzo Abe travelled to Russia to meet with President Vladimir Putin in Sochi. This was a bold move by the Japanese leader, as it was seen as breaking ranks with the G7’s policy of isolating Russia in response to the 2014 annexation of Crimea. U.S. President ...

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• 20 June

  Trump gives Clinton her cause

    The political context around Hillary Clinton has changed. Until now, complaints about her have pervaded public commentary, usually with a predictable refrain. In a May podcast, former Daily Show host Jon Stewart couldn’t find much good to say about the next leader of the Democratic Party. He imagined Hillary Clinton, he said, “to be a very bright woman without ...

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• 20 June

  Whatever the reasons, ‘Rexit’ is bad news for India

  Mihir Sharma All too often, the stewards of India’s economy have been short of credibility. Politicians’ promises of economic reform are rarely fulfilled, bureaucrats’ assurances are widely disbelieved, and even India’s growth numbers have become objects of suspicion. Of late, one institution and its leader had proven exceptions to this rule: the Reserve Bank of India and its governor, Raghuram ...

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• 20 June

  China’s realty mkt in flux as price recovery tapering off

  

    Bloomberg The recovery in China’s housing market that helped underpin the economy in the first half is showing signs of tapering off. New-home prices excluding government-subsidized housing climbed in 60 cities in May, down from 65 in April, among the 70 tracked, the National Bureau of Statistics said. With less of a boost from a recovering property market likely ...

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• 20 June

  London house prices fall as Brexit jitters, taxes cool demand

  

    Bloomberg U.K. house prices continued to climb in June, with only the capital experiencing a decline ahead of this week’s referendum on European Union membership. Asking prices increased 0.8 percent to an average 310,471 pounds ($443,600), property website operator Rightmove said in report published on Monday. In London, they fell by 0.2 percent, hit by the effects of a ...

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• 20 June

  Playboy Mansion to sell to neighbour for over $100mn

  

    Bloomberg The Playboy Mansion is under contract for more than $100 million. The buyer: a 32-year-old son of a billionaire who already owns the property next door. Daren Metropoulos, principal at investment firm Metropoulos & Co. and co-owner of Hostess Brands, has agreed to buy the Holmby Hills, California, estate where Playboy founder Hugh Hefner will continue to live, ...

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• 19 June

  UAE seeks to enhance ties with German business community

  

    DUBAI / WAM Mohammed Ahmed bin Abdul Aziz Al Shehhi, Under-Secretary of the Ministry of Economy for Economic Affairs, and Felix Neugart, CEO of the German Emirati Joint Council for Industry and Commerce, reviewed means to strengthen UAE-German economic relations and to develop partnerships between the business communities in the two countries. During the meeting which was held in Dubai, ...

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• 19 June

  Central Bank announces monetary and banking developments for May

    ABU DHABI / WAM The Central Bank announced that the Money Supply aggregate M1 decreased by 0.9 percent from AED 493.4 billion at the end of April, 2016, to AED 488.9 billion at the end of May, 2016. The Money Supply aggregate M2 decreased by 1.4 percent, from AED 1203.1 billion at the end of April, 2016 to AED ...

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