June, 2016

• 8 June

  Turkey firm wins Morocco tram deal

  

    Emirates Business Morocco’s Casa Transports has awarded Turkey’s Yapi Merkezi an €83m ($94m) contract for the construction of Line 2 of the Casablanca tram line. The line will feature 20 stations, with construction expected to take a two-and-a-half years, according to a rail industry publication. Line 2 will start where the western branch of Line 1 terminates, at Boulevard ...

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• 8 June

  Central banks buoy bonds, commodities & emerging markets

  

    BLOOMBERG Bonds rose with commodities and emerging markets on speculation that central banks will persist with policies that support financial markets. The European Central Bank began buying corporate bonds to expand its monetary stimulus, helping drive average yields on investment-grade corporate debt below 1 percent. Germany’s 10-year bund yields fell to a record. Emerging markets equities and currencies rose ...

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• 8 June

  IEA cuts gas demand outlook again as glut seen to end of decade

  

    Bloomberg While oil markets will start re-balancing after a slump next year, an oversupply in natural gas won’t disappear until the end of the decade, the International Energy Agency said, slashing its gas demand outlook for a fourth straight year. Global consumption will expand by 1.5 percent annually from 2015 through 2021, down from last year’s forecast of 2 ...

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• 8 June

  Lundin seeks up to $940mn for Ecuador gold mine

  

    Bloomberg Lundin Gold Inc. is forging ahead with its gold project in Ecuador, one of the world’s largest undeveloped deposits, in a signal the industry is moving back into expansion mode as the metal continues to rally. The Vancouver-based miner is planning to raise $820 million to $940 million in two phases to finance the Fruta del Norte project, ...

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• 8 June

  Underground tomb for radioactive waste

  

    Eurajoki / AFP Deep underground on a lush green island, Finland is preparing to bury its highly-radioactive nuclear waste for 100,000 years — sealing it up and maybe even throwing away the key.Tiny Olkiluoto, off Finland’s west coast, will become home to the world’s costliest and longest-lasting burial ground, a network of tunnels called Onkalo — Finnish for “The ...

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• 8 June

  Now, sun power will float on Japan lakes

  

    Bloomberg Developers first placed solar panels on water years ago to address land-based space constraints. Now, they’re finding floating plants may be more efficient. In a year-long study in Hyogo prefecture north of Osaka, solar panels installed on a reservoir generated 14 percent more power than those set up on the rooftop of an office building, according to the ...

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• 8 June

  ‘Vertical’ architecture finds space in region

  

    Ritika SHARMA / Emirates Business As the scope for horizontal growth in the real estate takes backseat, there is a huge demand for vertical structures with smart designs that make optimal use of the space. Experts believe that the trend of smart vertical structures is poised to grow manifold in the coming years. “In Middle East region, some countries ...

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• 8 June

  UAE gets a new online shopping platform for consumer electronics

  

    Dubai / Emirates Business A new online shopping platform in the UAE is breaking through the clutter in the world of e-commerce by offering customers industry-leading standards for warranty support and aftersales care. YallaShop.com offers almost 10,000 consumer electronics lines, from mobile phones and tablets, to televisions and cameras, from more than 400 brands. But while most similar platforms ...

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• 8 June

  Sharp growth ahead for GCC cafe & bakery sector

  

    ALKESH SHARMA / Emirates Business Backed by zooming economy and diverse communities, the GCC cafe and bakery industry is all set undergo a robust growth in the next couple of years. This particular segment, out of the overall food industry, has registered an annual billing of nearly $1.9 billion, exhibiting strong growth during 2012-14. “Food market, especially cafe and ...

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• 8 June

  Clinton dubs historic nomination victory a ‘milestone’ for women

  

    New York/ AFP Hillary Clinton declared a historic victory for women as she grasped the Democratic Party nomination and the chance to become America’s first female president. “Thanks to you, we’ve reached a milestone,” a beaming Clinton told ecstatic supporters in New York: “the first time in our nation’s history that a woman will be a major party’s nominee.” ...

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