June, 2016

• 6 June

  AMAF highlights UAE’s humanitarian efforts

    Dubai / WAM The Awqaf and Minors Affairs Foundation, AMAF, has reinforced Dubai’s leading global status in humanitarian work and the efforts of the emirate, as well as the wider UAE, in carrying out charitable endowment projects to promote values of tolerance, philanthropy and solidarity among the peoples of the world. The message was conveyed by Tayeb Abdul Rahman Al-Rais, ...

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• 6 June

  Dubai Food & Beverage Group launches charity programme

  

    Dubai / Emirates Business The Food and Beverage Business Group, a non-profit industry organisation under the patronage of Dubai Chamber, on Monday launched ‘Wafaa’, which means ‘giving back to the society’, a food donation initiative where essential food items will be packaged and delivered to the less fortunate in collaboration with the Beit Al Khair Society. The launch ceremony ...

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• 6 June

  ‘Leave’ takes Brexit poll lead as Major turns fire on Johnson

  

    Bloomberg Campaigners to get Britain out of the European Union have moved into the lead, according to a YouGov poll that increases the pressure on Prime Minister David Cameron with less than three weeks until the referendum. The online poll for ITV’s Good Morning Britain programme on Monday put “Leave” voters at 45 percent and “Remain” at 41 percent, ...

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• 6 June

  Pound tumbles, volatility jumps after surveys show UK exit momentum

  

    Bloomberg The pound slumped to a three-week low after polls showed more Britons favor exiting the European Union, reviving concern a June 23 referendum will throw global markets into turmoil and undermine confidence in the 28-nation trading bloc. Sterling weakened against all 10 developed-market peers after two surveys showed more voters were willing to vote to leave the EU ...

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• 6 June

  Brexit pollsters feel the pressure with guaranteed uncertainty

  

    Bloomberg Days before a referendum that seemed to be in the bag for David Cameron, a YouGov Plc poll suddenly showed the “Leave” side ahead. The pound plunged, the prime minister panicked — then Scotland voted to stay in the U.K. by a 10-point margin. Two years on, and British voters are preparing to decide whether to leave the ...

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• 6 June

  Rothschild & Co. to buy Martin Maurel, eyes French expansion

  

    Bloomberg Rothschild & Co., part of the banking dynasty focused on advising on mergers, is buying Compagnie Financiere Martin Maurel to expand its wealth-management and lending operations for French families and entrepreneurs. The boards of both companies support the deal, which needs approval from shareholders and regulators, according to a joint statement on Monday. Marseille-based Martin Maurel has received ...

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• 6 June

  Carry trade blocked by Iceland in bid to avoid crisis replay

    Bloomberg Iceland erected new defenses to block fast money from chasing western Europe’s highest interest rates as the nation prepares to dismantle the last remnants of capital controls that have existed since 2008. Over the weekend, the small north Atlantic island set reserve requirements for new offshore investors forcing them to keep a substantial part of their holdings in ...

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• 6 June

  Lukoil Q1 profit drops 59% after crude prices slump

    Bloomberg Lukoil PJSC, Russia’s second-largest oil producer, said profit dropped 59 percent in the first quarter as oil prices declined to a 12-year low. Net income fell to 42.8 billion rubles ($651 million) from 104 billion rubles a year earlier, the Moscow-based company said. Russian producers have been partially buffered against the rout in crude by a weaker ruble, ...

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• 6 June

  Suning to buy controlling stake in Inter Milan for $306 mn

    Bloomberg Chinese retailer Suning Commerce Group Ltd will acquire about 70 percent of Italian soccer club Inter Milan for €270 million ($306 million), making the deal a rare purchase in which a Chinese company will control a major European sports team. Suning will purchase existing and new shares in Inter Milan. Suning’s Inter Milan deal comes as another Chinese ...

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• 6 June

  North Korea has its African allies

  

  On May 29, 2016, South Korean President Park Geun-hye’s spokesman announced that Uganda pledged to suspend all military and police ties with North Korea. This announcement followed a bilateral meeting, between Park and Uganda’s President Yoweri Museveni. The Ugandan government has been careful to insist that Kampala will maintain diplomatic relations with Pyongyang, but the suspension of military cooperation is ...

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