Monday, 20 November 2017

Tag Archives: Brexit

UK’s credit rating downgraded by Moody’s

Moody’s

PARIS: The country’s long-term issuer rating and senior unsecured bond rating were both cut from Aa1 to Aa2 – two notches below the US agency’s highest rating. Analysts said the outlook for the UK’s public finances had “weakened significantly” with Brexit likely to put further pressure on the country’s economic ...

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UK tourism hits record

UK-tourism

LONDON: The number of overseas visitors to the UK topped four million in July for the first time, official figures show. Travellers to the UK spent £2.75bn on their visits, the Office for National Statistics (ONS) said, another record. The figures also show the number of visits abroad by UK ...

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Scottish unemployment rate falls to lowest level in 42 years

Scotland

EDINBURGH: Scotland’s jobless total fell by 7,000 in the three months to July, to stand at 102,000. The unemployment rate fell by 0.3% from the previous quarter to reach 3.8% – below the UK figure of 4.3%. The number of people in work rose by 60,000 to 2,587,000, according to ...

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UK Оffers to Мaintain Defence and Security Cooperation with EU

BREXIT

LONDON: Britain has played one its strongest cards in the EU negotiations by offering to put its defence, security and aid assets at the disposal of the European Union in the hope of getting concessions on future trading and economic relations. The offer extends to continuing to share embassies with the EU, ...

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Pound Euro Exchange Rate Recovers from 8-Year-Low

Pound Euro

LONDON: The Pound Euro exchange rate slipped yesterday as investors reacted to the latest Brexit uncertainties and tensions while the Euro benefitted from European Central Bank (ECB) speculation. However, the pair rebounded from its lows as markets anticipated upcoming data. GBP EUR dropped from 1.0944 to 1.0803 last week. Tuesday saw ...

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Elusive Brexit clarity meets sober economic reality

BREXIT

DUBLIN: Last time British Prime Minister Theresa May returned from a walking holiday, she called what turned out to be — for her — a disastrous election. Not this time, it is assumed. But financial markets and an eager public hoping she can provide some Brexit clarity will probably have ...

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UK ready to pay up to 40 billion euros to leave EU

Brexit EU UK

LONDON: Britain is prepared to pay up to 40 billion euros (36.12 billion pounds) as part of a deal to leave the European Union, citing three unnamed sources familiar with Britain’s negotiating strategy. The European Union has floated a figure of 60 billion euros and wants significant progress on settling ...

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Michael Kors buying Jimmy Choo in £896m deal

Michael-Kors

LONDON: Luxury shoe brand Jimmy Choo is to be acquired by US fashion brand Michael Kors in an £896 million deal. London-listed Jimmy Choo put itself up for sale as part of a strategic review in April and on Tuesday Michael Kors said it is “the ideal partner” for the ...

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UK reassures continuation of concessions to Pakistani exports

Pakistan-UK

LONDON/ISLAMABAD: Pakistan has been reassured by its biggest trading partner in Europe, that its exports will retain the concessional tariff for entering the United Kingdom even after Brexit. An official source said the reassurance was provided by the British government through diplomatic channels to the ministry of commerce, as many ...

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