June, 2016

• 18 June

  Resort fashion goes wild for prints

  

    Relaxnews Abstract, animalistic, floral or pretty; take your pick — prints are about to have a major moment. Say goodbye to head-to-toe monochrome and graphic colorblocking — the resort 2017 collections have spoken, and pattern is top of the list for next season. As fashion rules go, this one is rather liberating. If you veer towards starker, minimalist fashion ...

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• 18 June

  Saudi SALIC boosts investment in G3 Canada grain company

  

    Winnipeg / Reuters Saudi Arabia’s agriculture company has taken control of the majority investor in grain handler G3 Canada Limited, according to a filing, reducing Bunge Ltd’s stake and strengthening the kingdom’s efforts to secure food supplies. G3 Global Holdings, the joint venture of U.S. agribusiness Bunge and Saudi Agricultural and Livestock Investment Co (SALIC), bought 50.1 percent of ...

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• 18 June

  Gidea launches e-payment in Saudi

  

    Dubai / Emirates Business Gidea Technology Company launched a new service to the payment sector market in Saudi Arabia, which facilitates the linking system of electronic for Saudi banks with UnionPay network “the global payment network that serves the world’s largest cardholder base” through the Saudi Payments Network System (MADA) in cooperation with the Saudi Arabian Monetary Agency. It ...

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• 18 June

  Nissan ‘green wheels’ to roll on Jordan roads

  

    Dubai / Emirates Business Nissan has signed a historic Memorandum of Understanding (MoU) with the Greater Amman Municipality in Jordan as part of a landmark initiative to provide the Kingdom with its first 100 Nissan LEAF and Nissan e-NV200 electric vehicles (EVs). The vehicles, to be supplied by Bustami & Saheb (BSTC), Nissan’s exclusive distributor in the Kingdom, will ...

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• 18 June

  IMF revives recession warning for UK economy

  

    Bloomberg The IMF weighed in once more with its thoughts on Britain’s referendum, warning the U.K. could slide into a recession if it quits the EU. In a 64-page document, the Washington-based fund said that the size of the hit would depend on a multitude of factors, though its overall assessment is that the U.K. “would likely be worse ...

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• 18 June

  Brexit or Bremain, Pound is set for big swings as vote looms

  

    Bloomberg It’s almost upon us: the week when Britain takes the historic decision of whether to remain in the EU. And whatever the polls say in the days to come — and regardless of the result on June 24 — the pound is set for a wild ride. One-week anticipated volatility surged to the highest on record, posting the ...

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• 18 June

  German bond rally set to resume with UK referendum approaching

    Bloomberg The surge in demand for sovereign debt that drove yields on German government bonds to record lows this week is poised to resume before the U.K. referendum on EU membership on June 23. While yields on the Germany’s 10-year bunds halted a three-week decline on Friday, they dropped below zero on June 14 for the first time on ...

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• 18 June

  Naftogaz seeks stronger sanctions on Russia to stop pipeline

  

    Bloomberg The U.S. and the European Union should impose stronger sanctions against Russia to kill the country’s plan for a natural gas pipeline supplying Germany because it would raise prices for consumers and jeopardize energy security, said Andriy Kobolyev, chief executive officer of National JSC Naftogaz of Ukraine. Naftogaz, Ukraine’s state oil and gas company, is calling on the ...

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• 18 June

  S&P 500 posts worst week since April

  

    Bloomberg Prices fell and volume surged in a week of heightened anxiety for U.S. investors, whose dreams of reaching a record high anytime soon all but faded away. A streak of six weeks without a 1 percent drop was broken as the S&P 500 Index dropped 1.2 percent to 2,071.22, the worst retreat since April. Shares slid on four ...

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• 18 June

  Peru pensions change likely to boost Sol demand, says Velarde

  

    Bloomberg Peruvian legislation allowing workers to tap their pension savings to repay home loans may lead pension funds to sell dollar assets to meet the increased demand for soles, according to central bank President Julio Velarde. The changes will add strength to the sol and hurt credit growth as outstanding mortgage loans decline, Velarde told reporters in Lima. About ...

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