European Union leaders began plotting a future without Britain on Tuesday, urging the island nation and economic powerhouse to disentangle itself as fast as possible from the other 27 nations in the bloc to avoid extending the turmoil that has been roiling European and global markets. EU Council President Donald Tusk said he was planning a special meeting of the EU leaders minus Cameron in Bratislava in September to chart a way ahead, after last week’s referendum made abundantly clear that a business-as-usual approach to Britain leaving could possibly threaten…
Read MoreMonth: June 2016
AXA IM-Real Assets acquires mixed-use property in Brussels for approximately €120 million
AXA Investment Managers – Real Assets has completed the acquisition of the Wiltcher’s Complex, a core mixed-use property in Brussels’ Central Business District, from AG Real Estate, for an investment value of approximately €120 million. The asset was acquired on behalf of a joint venture comprising AXA Selectiv’ Immo, and a newly launched retail fund AXA Selectiv’ Immoservice, both accessible to French retail investors mainly through life insurance contracts distributed by AXA France. Both Funds are managed by AXA REIM SGP. The Wiltchers complex is located in the Louise district…
Read MoreWorld Economic Forum: Blockchain A Game Changer For The Future Of Financial Transactions
Unlocking blockchain will be a game-changer for the future of financial transactions, noted panellists in a session on the innovative digital ledger today at the Annual Meeting of the New Champions 2016 in Tianjin. “Blockchain will revolutionize banking and financial services as we know it,” acknowledged Pierre Gramegna, Minister of Finance of Luxembourg, “I think it is possible that blockchain will replace the word ‘internet’. By the time our children have children, the only time they will see the word ‘internet’ is in science and history books.” “Some say that…
Read MoreMarket may edge lower in early trade: no chance for Brussels Stock Exchange?
Market is seen opening lower on negative global cues. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could slide 78 points at the opening bell. In overseas stock markets, Asian stocks were mixed as investors continued to digest the UK’s unexpected vote to leave the European Union (EU). US stocks plunged on Friday, 24 June 2016, after Britain surprised markets by voting to leave the EU. A statement from the European Commission after a meeting at Brussels, Belgium between Martin Schulz, President of…
Read MoreForeign Ministers of Belgium, France, Germany, Italy, Luxembourg and the Netherlands with regret of the Brexit
The Foreign Ministers of Belgium, France, Germany, Italy, Luxembourg and the Netherlands take note with regret of the fact that the British people have spoken out against EU-Membership. The decision of the British people marks a watershed moment in the history of Europe. The European Union is losing not only a member state, but a host of history, tradition and experience. This creates a new situation. As a consequence of the decision of the British people, the agreement the European Council had found on 18/19 February ceases to exist. We…
Read MoreBelgium hit four past Hungary as Hazard turns on Euro 2016 style
Belgium go into the European Championship quarter-finals for the first time since losing the 1980 final. Eden Hazard could eclipse his “difficult” season with Chelsea by taking Euro 2016 by storm, according to Axel Witsel. Hazard struggled to make his mark for Belgium as they finished runner-up place in Group E behind Italy. But in a man-of-the-match performance against Hungary in Toulouse on Sunday, Hazard, captain for the night, turned on the style to score his maiden goal as his country secured a last eight fight against Wales in Lille….
Read MoreEU may refuse informal Brexit talks as UK is in “a significant crisis”
The centralisation of all lawmaking for the single market in Brussels has turned it into a lobbyists’ meat market, defending the interests of big business. Brussels has given up hope that exit process will be formally launched at summit this week but wants it to begin soon. London and Brussels appear headed for stalemate going into a European Union summit on Tuesday discuss Britain’s vote to leave. With Europe’s leaders divided over how to negotiate Brexit and Britain apparently reluctant to initiate formal talks on leaving, an EU source said…
Read MoreAnastasiades heads for Brussels
President Nicos Anastasiades leaves Monday afternoon for Brussels where he will participate in the European Council Summit on June 28 and 29. Among other items, the proceedings of the Council are expected to deal with the results of the referendum in the United Kingdom for its exit from the EU, migration, employment, growth and Investments as well as the EU’s foreign relations. The president will be accompanied by the Government Spokesman Nicos Christodoulides. Anastasiades will return to Cyprus on June 30.
Read MoreFrom Trade To Migration: How Brexit May Hit EU Economy
Brussel: The European Union’s chief concerns over Britain’s vote to leave the group are political but losing its second-largest economy will have a huge economic impact as well. Below are some of the main economic risks and benefits for the EU’s remaining 27 members. Other members will have to fill in at least some of the shortfall from a lack of its contributions. Britain’s total contribution to the EU budget for 2016 has been set at 19.4 billion euros ($21.4 billion), including its rebate and customs duties. It receives about…
Read MoreBerlin and Brussels speculate over speed of Brexit negotiations
Germany and the European Union on Sunday remained ambiguous about the speed of Brexit negotations following a vote by Britain to leave the 28-member bloc, with a top EU official thinking they could start as soon as Tuesday. The president of the EU Parliament, Martin Schulz, told German tabloid Bild am Sonntag he would not tolerate Britain‘s “dithering” over the issue. “If we slow down the process only to make concessions to the dithering of the British Conservatives we will harm everyone. A long drawn-out process will only lead to…
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