May, 2016

• 24 May

  Doha Bank plans to look abroad

  

    Bloomberg Doha Bank QSC plans to expand its foreign operations to compensate for slower growth in Qatar, where a drop in oil prices is causing liquidity to dry up, according to Chief Executive Officer Raghavan Seetharaman. “We have scope for expansion,” he said in an interview at the bank’s headquarters in Doha last week. “It’s not like everything is ...

  Read More »
• 24 May

  Doha Film Institute films win top accolades at Cannes festival

  

    Emirates Business Four films supported by the Doha Film Institute have won top honours in key sections of the 69th Cannes Film Festival, including the Best Screenplay and Best Actor awards for The Salesman, co-financed by the Institute, in the Festival’s official competition. DFI grantee film Divines, the debut feature by Houda Benyamina scooped the coveted Camera d’Or prize ...

  Read More »
• 24 May

  Brexit fears take toll on German investors’ confidence

  

    Frankfurt / AFP Investor confidence in Germany fell unexpectedly in May as uncertainty over a possible exit by Britain from the European Union overshadowed strong growth data, a leading survey showed on Tuesday. While official data earlier showed that Europe’s biggest economy grew by 0.7 percent in the first three months —double the growth rate of the preceding quarter — ...

  Read More »
• 24 May

  French oil refinery strikes spread as fuel shortages worsen

  

    Bloomberg Every oil refinery in France was suffering disruptions or outright shutdowns amid a worsening labor dispute that already caused fuel shortages across the country. All eight of the nation’s refineries were affected by strikes as workers at Exxon Mobil Corp.’s Gravenchon plant in northern France began taking steps to shut down, following similar action by staff at Total ...

  Read More »
• 24 May

  BOE has responsibility to highlight Brexit risk, says Governor Carney

  

    Bloomberg Bank of England Governor Mark Carney once again defended his obligation to assess economic risks related to Britain’s upcoming referendum on EU membership. The BOE has “a responsibility under our remit to report not just the current trade-off that may hold in terms of returning inflation to target in a sustainable manner, but the risks, the principle risks ...

  Read More »
• 24 May

  ‘Leave EU’ would raise vacation costs for Britons: PM Cameron

  

    Bloomberg Britons risk pushing up the cost of their vacations if they vote to leave the European Union, Prime Minister David Cameron said in his third warning in three days on how a so-called Brexit would hurt ordinary people in their pockets. An average eight-night, four-person trip to an EU destination would cost an extra 230 pounds ($330), based ...

  Read More »
• 24 May

  EU courts Algerian gas coop in a bid to counter Russian reliance

  ALGIERS / Reuters Officials from Algeria, the European Union and energy firms meet in Algiers on Tuesday in an attempt to get their energy cooperation back on track and find ways to pump more gas north again after years of dwindling exports. Algeria is seen as a natural partner for the European Union as it looks to diversify energy supplies ...

  Read More »
• 24 May

  LatAm’s Wall Street veterans draw bond funds

  

    Bloomberg Latin America’s post-populist shift is persuading the world’s biggest emerging-market bond investors to put more money in the region, and there are signs that eastern Europe is paying the price. Franklin Templeton’s $51 billion Global Bond fund nearly doubled holdings in Brazil, Mexico and Colombia to more than 30 percent in the six months to March 31, according ...

  Read More »
• 24 May

  Canada concerned over rising global waves of protectionism

  

    Bloomberg Rising global waves of protectionism are a concern to Canada and underscore the need not to rush ratification of the Trans-Pacific Partnership trade pact, Trade Minister Chrystia Freeland said in an interview in Tokyo on Tuesday. Freeland’s remarks came after she joined Prime Minister Justin Trudeau in meetings with Japanese auto executives. Trudeau will join other global leaders ...

  Read More »
• 24 May

  Scarce sugar forces Coca-Cola in Venezuela that to stop production

  

    Bloomberg Coca-Cola Co. is halting production of sugar-sweetened beverages in Venezuela as the company’s namesake soda pop becomes the latest victim of a lack of raw materials in the cash-strapped country. The iconic drink is the latest to join a group of basic products becoming scarce in a country beset by currency controls, goods shortages and the world’s highest ...

  Read More »