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No matter how the UK’s tortuous process of leaving the European Union (EU) ends, those who supported Brexit as a way of curbing immigration will have to accept the immutable mathematics of demographics: Britain will remain economically reliant on foreign workers for decades to come. The Office for National Statistics (ONS) has just published its latest projections for the size ...

The top-line takeaway from a BNY Mellon Investment Management national survey on fixed-income investing was stunning: A measly 8% of Americans were able to accurately define fixed-income investments. The 29-question online survey of just more than 2,000 adults, conducted in July, clearly shows that many Americans admit to having little knowledge about various fixed-income markets and how to invest in ...

Bloomberg US index futures climbed while stocks in Europe struggled for traction at the start of a week in which big corporate earnings continue to roll in and the Federal Reserve is expected to cut interest rates. Treasuries dropped, pushing the 10-year yield to a six-week high. Contracts on the S&P 500 edged higher after the underlying gauge climbed near ...

Bloomberg Argentina tightened currency controls after the opposition’s Alberto Fernandez won the presidential elections. The central bank will restrict dollar purchases by savers to buy just $200 per month compared with the $10,000 per month previously, according to a central bank statement. The move looks to preserve international reserves during the political transition which will culminate in the handover on ...

Bloomberg UK retailers built up stocks by the most since the 1980s in anticipation of leaving the European Union at the end of the month, a report from the Confederation of British Industry (CBI) showed. The proximity to Christmas and ongoing Brexit uncertainty are the main drivers, the CBI said. Retail sales volumes and orders fell in the year to ...

DUBAI / WAM The Dubai Electricity and Water Authority (Dewa), confirmed that the energy used during Expo 2020 Dubai will be 100 percent generated from renewable sources. Dewa, which is building smart grids for the generation, transmission, and distribution systems to Expo 2020, has implemented a number of mega projects, including providing Expo 2020 with 422MW of renewable energy from the ...

Bloomberg Global markets are “awash” in crude thanks to the surge in US oil output, and the boom looks set to continue, US Energy Secretary Rick Perry said in a Bloomberg TV interview. US shale production has turned the world “on its head,” and Goldman Sachs Group Inc. is “off a bit” in a report last week saying that the ...

Bloomberg Abu Dhabi Commercial Bank (ADCB), which completed a three-way merger in May, plans to exit its operations in Qatar and Kuwait to focus on its home market. The lender initiated the process of closing operations in both the countries and have informed the authorities, according to a statement. The move comes after the bank sold the majority of its ...

Bloomberg India’s central bank hasn’t sold any gold recently nor is trading in the metal, the monetary authority said in a tweet on Sunday. Reports have appeared in certain sections of media that RBI has been selling or trading in gold of late. It is clarified that RBI has not sold any gold or trading in it. The Economic Times ...

Dubai / Emirates Business There is tremendous potential for the UAE to double its exports to African countries with plastics, rubber and sugar identified as the top products offering the most untapped export potential estimated at $867.9 million, $457.9 million and $291.7 million, respectively in 2017. The analysis, based on recent data from the International Trade Center (ITC), relies on ...