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  Bloomberg Chancellor of the Exchequer George Osborne hit back at claims he’s scaremongering in his campaign to keep Britain in the European Union, saying “there is a lot to be scared about.” Osborne rejected accusations he had misrepresented Treasury analysis of the consequences of a vote to leave the EU on June 23 and overstated the impact of an ...

  Bloomberg Brazil kept borrowing costs unchanged as a new central bank president is set to take over the challenge of slowing inflation to target without exacerbating the worst recession in over a century. Policy makers, led by departing bank President AlexandreTombini, on Wednesday voted unanimously to keep the Selic at a near-decade high of 14.25 percent for a seventh ...

  Bloomberg The prospect of building an underwater pipeline from Texas to Mexico is making Sempra Energy’s Ienova one of the top-performing stocks south of the border. Infraestructura Energetica Nova SAB, as the unit is formally called, had the second-biggest gain on the Mexican Stock Exchange since announcing plans on May 19 to bid to develop the $2.1 billion project ...

  Tokyo / Bloomberg Japan’s peak power prices may ease as the country’s solar-power expansion taps scorching summers to displace fossil fuels. The resource-poor country, which has boosted solar capacity more than sevenfold since 2011, may follow a similar path as Germany, where electricity prices fell along with fossil fuel use during high consumption periods, according to Trevor Sikorski, an ...

  Beirut / AFP Thousands of civilians have fled a stronghold of the IS group in northern Syria almost surrounded by US-backed fighters seeking to cut a key supply lifeline for the extremists. The Arab-Kurdish offensive on the town of Manbij is one of two major assaults on the route IS uses to send in more fighters, weapons and money from ...

  ALKESH SHARMA / Emirates Business Nearly 48 percent companies globally consider cyber-attack the major impediment in the smooth flow of their operations. It is closely followed by confidential data breach (41 percent) and unplanned IT and telecom outage (35 percent) that could hamper the day-to-day working of the enterprise. These startling facts have been revealed in the findings of ...

  ABU DHABI / WAM The Masdar Institute of Science and Technology (MIST) faculty discovered a novel way to significantly increase the amount of sunlight that a solar absorber can convert into heat. By converting more of the solar energy that reaches the Earth’s surface into heat in a low-cost way, the solar absorber can help make sustainable technologies that ...

  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 ...

  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.” ...

  Abu Dhabi / WAM The Abu Dhabi General Services Company (Musanada) announced that it has completed 40 percent of the upgraded road network and interchange at Abu Dhabi International Airport, as part of its efforts to realise the vision of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and to implement the directions of His Highness Sheikh Mohamed ...