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  Sydney / Bloomberg Australia’s government plans a A$1 billion ($736 million) fund to protect the Great Barrier Reef from the effects of climate change and declining water quality. Warming waters are bleaching the reef’s coral, while run-off from the land such as farm fertilizer is harming water quality, Prime Minister Malcolm Turnbull said at a news conference in Queensland ...

  Bloomberg The way we get electricity is about to change dramatically, as the era of ever-expanding demand for fossil fuels comes to an end—in less than a decade. That’s according to a new forecast by Bloomberg New Energy Finance that plots out global power markets for the next 25 years. Call it peak fossil fuels, a turnabout that’s happening ...

  Bloomberg As the U.K. agonizes over its relationship with Europe, the Bank of England is readying for turmoil. With just 10 days before a referendum that could see Britain withdraw from the European Union, central bankers are putting the defenses in place to shore up market confidence and the financial system if that happens. Tuesday will see the first ...

  Bloomberg Cheaper oil prices since 2014 have probably been of little net benefit to the global economy and may even have been a drag on growth, according to the European Central Bank. “While most of the oil-price decline in 2014 could be explained by the significant increase in the supply of oil, more recently the lower price has reflected ...

  Bloomberg Germany’s 10-year bond yields are set to climb from the all-time low reached last week, according to economists surveyed by Bloomberg. Benchmark yields fell to a record 0.009 percent on Friday. While economists have reduced their year-end yield estimates since January, they don’t foresee that level as sustainable. The median forecast of 19 economists in a Bloomberg survey ...

  Bloomberg Jean-Claude Juncker and Vladimir Putin may offer clues about the way forward for a controversial project to expand Russia’s gas interconnections with Europe this week. The European Commission president meets the Russian leader at a conference in St. Petersburg and may discuss ways a Gazprom PJSC-led consortium could be allowed to double the capacity of the Nord Stream ...

  Bloomberg The 32-year-old FTSE 100 Index, synonymous with the U.K. stock market, is about to get some competition. The benchmark’s four-letter moniker is local shorthand for laypeople and professionals to describe the daily gyrations of the nation’s $3.3 trillion equity market. Now, Lenexa, Kansas-based rival Bats Global Markets Inc. is now trying to muscle in on the FTSE 100’s ...

  Bloomberg Vancouver’s housing boom is squeezing out some families as growth draws in new residents faster than dwellings can be built, according to Canada’s finance minister said. “If you are in Vancouver today, it’s challenging for people to think about how they can get into the market and how their children can get into the market,” Bill Morneau said ...

  On June 7, the United States, India, and Japan began the twentieth iteration of the Malabar Exercise. In the two decades of its existence, the exercise, which began as a joint U.S.-India naval drill back in 1992, has evolved into not just a key aspect of U.S.-India defense ties, but a key platform for engagement in the Indo-Pacific more ...

  David Gitter SPECIAL TO EMIRATES BUSINESS The term “innovation” has been a hot word these days in Chinese politics. It was one of the five high-frequency terms used by General Secretary Xi Jinping in his deliberations at this year’s National People’s Congress (NPC) and Chinese People’s Political Consultative Conference (the others were reform, people’s livelihood, ecology, and work style), ...