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  Bloomberg India is due to announce a successor to central bank Governor Raghuram Rajan. To get a sense of what traders expect, look at bank stocks. The NSE Nifty PSU Bank Index, which comprises 12 state-owned lenders, has rallied 21 percent over the past two months, as speculation about Rajan’s exit intensified. That compares with about a 10 percent ...

  Bloomberg U.S. Treasury Secretary Jacob J. Lew is set to meet with European Union antitrust chief Margrethe Vestager this week as she prepares to deliver a final verdict on a probe into Apple Inc.’s tax affairs in Ireland. The showdown comes days after Vestager’s team came up with two possible scenarios on how much tax Apple owes in Ireland, ...

  The Hague / AFP An international tribunal ruled on Tuesday against China’s claims it had “historical rights” in the South China Sea in a bitter dispute that risks further stoking regional tensions. Manila — which had lodged the suit against Beijing —welcomed the decision by the Permanent Court of Arbitration but Beijing reacted furiously, saying it “neither accepts nor ...

  Damascus / AFP Syria’s army has extended a nationwide truce for another three days, but continued Tuesday to press its campaign against rebels in the battered northern city of Aleppo. In a statement late Monday, the armed forces said it would “extend the freeze on fighting on all Syrian territory for 72 hours beginning at 00:01 on July 12.” ...

  Londres, United Kingdom / AFP David Cameron chaired his final cabinet meeting on Tuesday after six years as Britain’s prime minister, with incoming premier Theresa May preparing to form a new government to deliver Brexit. May led tributes to Cameron at the meeting, which was described by ministers as “emotional”, and posed for photographers on the steps of the ...

  Caracas, Venezuela / AFP Citibank plans to close the account Venezuela uses to make international payments, President Nicolas Maduro said, accusing the US-based bank of mounting a “financial blockade.” “Citibank, with no warning or communication, says that it is going to close the Central Bank and Bank Of Venezuela account. That is what you call a financial blockade,” the ...

  Dubai / Emirates Business SMEs in the United Arab Emirates and the Middle East can and should do more to utilise digital marketing as an effective tool to promote their business, says Naufel Vilcassim, Professor of Marketing, London Business School. “Traditional marketing used by big firms — newspaper and TV adverts, billboards, sponsorship — is very expensive for the ...

  Bloomberg The political chaos since the U.K.’s vote to leave the European Union should be more of a concern for Electricite de France SA’s £18 billion ($23 billion) Hinkley Point nuclear power project than the slump in sterling. The drop in the pound to a three-year low against the euro will shave just a small fraction off the anticipated ...

  Dubai / WAM The Emirates NBD Dubai Economy Tracker said that business conditions strengthened in June amid the fastest rise in new work since March 2015. June data pointed to a sustained recovery in growth momentum across the Dubai private sector, led by improving business conditions in the travel and tourism and wholesale and retail sectors. At 54.6, up slightly ...

  Emirates Business A newly-released report highlights that the UAE is leading the Arab world when it comes to generating economic impact from investments in information and communications technologies (ICT). The study, titled the World Economic Forum’s Global Information Technology Report 2016, ranked the UAE 26th globally, just ahead of Qatar (27th) while Kuwait (61st) as one of the world’s ...