May, 2016

• 30 May

  Chinese bank divulges yuan’s rate mechanism

  

    Bloomberg A Chinese state-run bank has revealed the inner workings of the yuan’s reference rate mechanism, including details on the lenders that provide prices as well as how the system was tweaked following market turmoil in January. The 14 contributors, which must consider the previous day’s yuan closing price, have to take into account movements in baskets of currencies ...

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• 30 May

  Caution sounded over Russian central bank’s next move

  

    Bloomberg Even after almost a year of unchanged rates, caution is still a virtue for economists gauging the Russian central bank’s next move. All but two of the 25 economists surveyed by Bloomberg agreed with the International Monetary Fund’s advice to keep the pace of future easing gradual. The rest said they concur with a call by the head ...

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• 30 May

  Wanda offers $4.4bn to privatize HK unit

  

    Bloomberg Chinese billionaire Wang Jianlin’s Dalian Wanda Group Co. is offering HK$34.5 billion ($4.4 billion) to buy out its Hong Kong-listed property unit in the biggest take-private deal on the exchange ever, as it seeks a higher valuation for the business on mainland stock exchanges. Wanda Group will pay HK$52.80 for each Hong Kong-traded share of Dalian Wanda Commercial ...

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• 30 May

  Chinese realty market recovery fragile, says S&P

    Bloomberg A recovery in the Chinese property market that’s been fuelled by government stimulus may not be sustainable, according to S&P Global Ratings, which has cut ratings on 11 developers this year. “The recovery isn’t all that rosy, in fact it’s rather fragile,” Cindy Huang, director of corporate ratings at S&P, said during a webcast on Monday. “It’s driven ...

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• 30 May

  Gone in four hours: Lendlease sells all 391 Sydney homes

  

    Bloomberg All 391 apartments offered by Lendlease Group at a project in Sydney were snapped up in just four hours on Saturday, indicating demand for inner-city homes remains buoyant despite looming oversupply. More than 400 potential buyers turned up from 8 a.m. in Darling Square, a development on the western edge of Sydney’s central business district, for the apartments ...

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• 30 May

  Sky high: NYC ‘trophy apartment’ could list for $250mn

  

    AP Billionaires’ Row. That’s what New York real estate experts have dubbed a lineup of a half-dozen new superluxury skyscrapers overlooking Central Park that are home to some of the world’s most expensive apartments. One penthouse on the 89th and 90th floors of a skyscraper near Carnegie Hall that went for more than $100 million seems almost a bargain ...

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• 30 May

  Nigeria pays the price of violence

  

    Obagaji / AFP Anyebe Peter has only recently returned to his farm in central Nigeria, nearly three months after attacks by Fulani herdsmen killed seven villagers, destroyed 250 homes and forced survivors to flee. “Nothing is left for us either on our farm or in our village after the attack,” he said in Adagbo, a stone’s throw from the ...

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• 30 May

  Saving Myanmar’s chessmen from checkmate

  

    Yangon / AFP Gripping a monkey-faced chess piece, TheinZaw swipes his hand across the chequerboard and topples an advancing demon, demonstrating an ancient form of the game that Myanmar traditionalists are battling to revive. Sittuyin, as Myanmar’s unique chess is called, is similar to the modern game but has distinctive pieces as well as moves that echo a time ...

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• 30 May

  Engineering trends

  

    Sunaina Rana/ Emirates Business Aida Karimi, Senior Designer, Di Leonardo Di studio, (a leading interior architectural design firm), believes design is a collaborative process where every team member makes a contribution facilitated by effective communication. Aida leads the creative process by proactively engaging in all aspects of the design and ensuring the quality and consistency to express the values ...

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• 30 May

  Offering integrated communication services

  

    Our Correspondent / EMIRATES BUSINESS Blue Apple is an independent full service advertising, PR, branding and digital agency that adopts a personalised approach to provide innovative solutions that are driven by the practices of communication, engagement and experience. Blue Apple is built on a multi-cultural team of specialist communications professionals, with regional and global experience. Everyone talks about their ...

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