Friday, 28 July 2017


UK now less appealing to rich Chinese


LONDON: The UK has slipped down the list of preferred destinations for Chinese millionaires considering moving overseas, a report suggests. While the US remains the favourite place to settle, Canada now ranks second pushing Britain into third spot. The survey found around half of those millionaires quizzed were mulling a ...

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Credit and debit card surcharges to be banned


LONDON: Consumers are no longer to be charged extra for paying by debit or credit card, the government has said. From January next year, businesses will not be allowed to add any surcharges for card payments. The worst offenders currently are airlines and food delivery apps, and small businesses which ...

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UK dividends up after boost from miners


LONDON: Mining company payouts have driven a turnaround in underlying UK dividend growth in the second quarter, prompting Capita to upgrade its forecasts for the year ahead. The quarterly UK Dividend Monitor report from Capita Asset Services showed dividends in the three months to June 30 hit £33.3bn – a record ...

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Pakistan is open for business, say big business entities in UK


LONDON: Pakistan Britain Business Council (PBBC) and its sister company Pakistan Scotland Business Council (PSBC) has signed a Memorandum of Understanding (MoU) with the London Chamber of Commerce and Industry (LCCI) to strengthen the links between the three organisations. All the big business entities present on the occasion said Pakistan ...

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As London squabbles, full Brexit talks start in Brussels


BRUSSELS: Britain’s Brexit minister vowed to “get down to work” as he kicked off a first full round of negotiations on Monday, but a year after Britons voted narrowly to quit the EU their government still seemed at odds over what it wants. “It’s time to get down to work ...

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Beleaguered Carillion wins HS2 rail contract

HS2 rail contract

LONDON: Construction giant Carillion – which issued a profit warning this month as it grapples badly-performing contracts – is among the companies that have been chosen to build phase one of the HS2 rail line. The announcement injected some life back into the firm’s battered share price on Monday – ...

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Carolyn McCall to become ITV chief executive

Carolyn McCall

LONDON: ITV has confirmed the appointment of Carolyn McCall as its first female chief executive. McCall joins ITV from easyJet, where she has been chief executive for seven years. She was also chief executive of the Guardian Media Group, publisher of the Guardian and Observer. She will join the broadcaster ...

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Proportion of Overseas Landlords Halves


LONDON: In 2017 overseas based landlords own 5% of all homes let in Great Britain, down from 12% in 2010 (table 1). London has seen the biggest fall in the proportion of homes owned by overseas landlords, from 26% in 2010 to 11% in 2017. Landlords based in Asia took ...

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‘Smart’ money moving to ‘green’ financing: UN report


UN: Even though investments towards sustainable development in developing countries have fallen short by nearly $2.5 trillion each year, emerging financial products and encouraging policies illustrate that both public and private sectors are serious about correcting that trend, the United Nations environment arm has said. In its new report on ...

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Iceland opens door for UK to join EFTA

Gudlaugur Thór Thórdarson

ICELAND‘s foreign minister has opened the door for Britain to rejoin a European trade club that would put it on a fast track to sign dozens of ready made deals after Brexit. Gudlaugur Thór Thórdarson said he had spoken to Boris Johnson, the foreign secretary about the UK joining the ...

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