June, 2016

• 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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• 19 June

  ICBC’s bond on Nasdaq Dubai

    DUBAI / WAM Nasdaq Dubai welcomed the listing on Sunday of a US$400 million conventional bond by the Industrial and Commercial Bank of China (ICBC). It was the second bond to be listed by ICBC on the Middle East’s international exchange, following a $500 million listing in May, 2015. The new listing underlines the continuing expansion of capital markets links ...

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• 19 June

  SIAA participates in China expo

    SHANGHAI / WAM Sharjah International Airport Authority (SIAA) participated for the first time in the Air Cargo China Exhibition and Conference 2016, which took place from June 14th to 16th at the Shanghai New International Expo Centre. At the show, the SIAA demonstrated the latest improvements, services and facilities provided by Sharjah International Airport, as well as the many opportunities ...

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• 19 June

  MoF to organise reception

  ABU DHABI / WAM In a bid to provide all means of support to benefit the banking sector, the Ministry of Finance (MoF), in collaboration with the UAE Central Bank and Dubai International Financial Centre, DIFC, has commenced preparations for the UAE Banks’ reception, set to take place on October 7 alongside the upcoming International Monetary Fund, IMF, and World Bank ...

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• 19 June

  Dubai keen to boost FDI

  

    Dubai / WAM HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council (DEC), said that the annual Dubai Investment Forum has proven successful in presenting a model for the future of strategic sustainable investment, bringing together government departments and institutions that provide strategic growth opportunities and partnerships to investors and ...

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