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UK inflation rate picks up to 0.5%

The Consumer Prices Index (CPI) rose by 0.5% in the year to June 2016, compared with a 0.3% rise in the year to May. The June rate is a little above the position seen for most of 2016, though it is still relatively low historically. Rises in air fares, prices for motor fuels and a […]

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Bank of England maintains Bank Rate at 0.5% and the size of the Asset Purchase Programme at £375 billion

The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target and in a way that helps to sustain growth and employment.  At its meeting ending on 13 July 2016, the MPC voted by a majority of 8-1 to maintain Bank Rate at 0.5%, with one member voting for […]

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Update EU’s long-term spending plan to cope with crises, urges Budgets Committee

The EU needs to update its long-term spending plan to cope with unforeseen crises such as mass migration, terrorism and youth unemployment, says the Budgets Committee in a resolution voted on Wednesday. The text is intended as an input to the forthcoming EU Commission’s proposal to revise the EU’s multiannual financial framework (MFF) for 2014-2020. […]

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Mitsubishi Heavy Industries and EDF Sign Memorandum of Understanding on Collaboration in Civil Nuclear Power Businesses

Paris/Tokyo, June 28, 2016 – Mitsubishi Heavy Industries, Ltd. (MHI) and EDF, a leading French utility, have agreed a significant step to forge a strategic and global collaborative relationship in the civil nuclear power fields. A memorandum of understanding (MOU) was signed at the World Nuclear Exhibition (Paris) by the top representatives of the two […]

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European Central Bank is closely monitoring financial markets

European Central Bank is closely monitoring financial markets ECB continues to fulfil its responsibilities to ensure price stability and financial stability in the euro area Following the outcome of the UK referendum, the European Central Bank (ECB) is closely monitoring financial markets and is in close contact with other central banks. The ECB stands ready […]

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Statement from the Governor of the Bank of England following the EU referendum result

The people of the United Kingdom have voted to leave the European Union. Inevitably, there will be a period of uncertainty and adjustment following this result. There will be no initial change in the way our people can travel, in the way our goods can move or the way our services can be sold. And […]

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Ending EU citizens’ bank secrecy in Monaco

An EU deal with Monaco, which will make it harder for EU citizens to hide cash from the tax man in bank accounts there, was endorsed by Parliament in a vote on Thursday. Under the deal, the EU and Monaco will automatically exchange information on the bank accounts of each other’s residents, starting in 2018 […]

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Microsoft to acquire LinkedIn

REDMOND, Wash., and MOUNTAIN VIEW, Calif. — June 13, 2016 — Microsoft Corp. (Nasdaq: MSFT) and LinkedIn Corporation (NYSE: LNKD) on Monday announced they have entered into a definitive agreement under which Microsoft will acquire LinkedIn for $196 per share in an all-cash transaction valued at $26.2 billion, inclusive of LinkedIn’s net cash. LinkedIn will […]

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MEPs approve €500m in fresh EU loans to Tunisia

A plan to lend Tunisia €500 million on favourable terms to help it reduce its external debt and consolidate its democratic mechanisms was backed by MEPs on Wednesday. MEPs backed the plan by 561 votes to 76, with 42 abstentions. “The major challenges in Tunisia are the economic downturn, soaring unemployment, and terrorist attacks that […]

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Boskalis signs EUR 300 million contract for Fehmarnbelt project

Today, Femern A/S, a subsidiary of the Danish state-owned Sund & Bælt Holding A/S, and the Fehmarn Belt Contractors joint venture, consisting of Royal Boskalis Westminster N.V. (Boskalis) and Van Oord, signed the previously announced contract related to the construction of the Fehmarnbelt Fixed Link. Boskalis’ share of the contract is approximately EUR 300 million. […]

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Boost consumer power in the energy market, urge MEPs

Consumers should be given more power in the energy market, say MEPs in a resolution on a “new energy deal for energy consumers”, voted on Thursday. They recommend collective buying, household power generation, better price comparison tools for all and making it easier to switch energy providers and tariffs. In a non-binding text, intended as […]

Posted in Energy, European Union | Comments Off on Boost consumer power in the energy market, urge MEPs

LUKOIL LAUNCHES CONSTRUCTION OF A NEW LUBRICANTS PLANT IN KAZAKHSTAN

An official groundbreaking ceremony for a new lube blending plant of PJSC LUKOIL was held today in Kazakhstan. The ceremony was attended by Maxim Donde, general director of LLK-International (a wholly-owned subsidiary of PJSC LUKOIL), delegation of the Almaty Region led by its akim Amandyk Batalov, representative of the Ministry of Energy of Kazakhstan and […]

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Back to the Gulf state: Bosch restarts business in Iran – New office in Tehran

Tehran, Iran/Istanbul, Turkey – The Bosch Group is opening a new regional presence in Tehran, the capital of Iran. By doing so, Bosch intends to tap into one of the most promising growth markets in the Middle East in the years ahead. All business sectors of the supplier of technology and services will operate in […]

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LUKOIL OPENS LUBRICANT STORAGE AND TRANSFER TERMINAL IN AUSTRIA

A bulk lubricant storage and transfer terminal of PJSC LUKOIL was brought into operation in Vienna today. The opening ceremony was attended by the Chairman of PJSC LUKOIL Board of Directors Valery Grayfer, President of Vienna Provincial Parliament Harry Kopietz and President of Vienna Chamber of Commerce and Industry Walter Ruck. The construction of the […]

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Bank of England unveils new £20 note design featuring JMW Turner

Today, Bank of England Governor, Mark Carney, announced that J.M.W. Turner will appear on the next £20 banknote due to be issued by 2020.  At the announcement at Turner Contemporary in Margate, the Governor revealed the image of Turner that will be used on the note. The selection of Turner is the first time the […]

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