Tuesday, July 16

Day: July 5, 2016

Britain is plunging towards an economic nightmare and it isn’t just because of Brexit
ENGLISH, United Kingdom

Britain is plunging towards an economic nightmare and it isn’t just because of Brexit

    On Monday morning, Markit released its latest set of data on the state of the UK’s construction sector, and to say things didn't look good would be an understatement. The sector slipped into contraction for the first time since April 2013, hitting just 46.o, a shock fall from an already poor base last month, and the biggest single month fall since 2009. All this helped confirm fears about a coming crash in the UK's construction industry. Generally speaking, Markit doesn’t make grand proclamations and or use strong language about its data, but on Monday representatives from both Markit and CIPS, which jointly produced the survey, variously said that "the rate of decline was not as sharp as that experienced during the last recession" and called the data "a clear warning flag...
Standard Life shuts property fund amid rush of Brexit withdrawals
ENGLISH, United Kingdom

Standard Life shuts property fund amid rush of Brexit withdrawals

    Investors in Standard Life’s property funds have been told that they cannot withdraw their money, after the firm acted to stop a rush of withdrawals following the UK’s decision to leave the EU. The firm halted trading on its Standard Life Investments UK Real Estate Fund and associated funds at midday on Monday, citing “exceptional market circumstances” for the decision. It said the suspension would remain in place until it is “practicable” to lift it, and that it would review the decision at least every 28 days. The £2.9bn fund, which invests in commercial properties including shopping centres, warehouses and offices, is thought to be the first UK property fund to suspend trading since the 2007-2009 financial crisis, when some of the biggest names in investment management ...
Islamic State declares war on Malaysia and Indonesia
Asia, ENGLISH

Islamic State declares war on Malaysia and Indonesia

    A gun-toting adult is surrounded by children, and a teen standing away from the group is seen cradling an AK-47 assault rifle. The man is wagging his right index finger back and forth, and talks in a mix of Bahasa Malaysia and what sounded like Arabic. He expresses gratitude to Allah for “easing our journey and jihad” and for appointing them as “soldiers of Tawhid (The Oneness of God)”. He called out to the authorities of the nusantara (archipelago) – especially in Malaysia and Indonesia. “Know this ... we are no longer your citizens, and have liberated ourselves from you,” he said as the camera panned to show a goateed man nearby holding another Malaysian passport. “With His permission and His assistance, we will come to you with a military force that you cannot overcome....
Second EU referendum would be legal, former attorney general says
ENGLISH, United Kingdom

Second EU referendum would be legal, former attorney general says

    Dominic Grieve A second EU referendum could be justified if it becomes clear public opinion has shifted strongly against Brexit, the former attorney general has said. Dominic Grieve, a Conservative MP who was the Government’s chief legal advisor until 2014, said the result of the first referendum had to be “treated with respect” but that it was not necessarily set in stone. In correspondence seen and verified by The Independent Mr Grieve tells a constituent that the result of the first referendum cannot be ignored, but that a second plebiscite could become democratically justifiable. “We have to accept … that the referendum result represents, at the time it was held, a clear statement of a majority view that we should leave the EU,” he wrote. “In a democracy such a result ...
Medina explosion: Suicide bombing near Saudi holy site
Arab world, ENGLISH

Medina explosion: Suicide bombing near Saudi holy site

    A suicide bomber has killed four security officers and injured five others near one of Islam's holiest sites in the Saudi city of Medina, according to the interior ministry. The bomber detonated his explosives after being stopped outside the Prophet's Mosque, a statement said. The mosque is the burial place of the Prophet Muhammad and Medina the second-holiest city in Islam after Mecca. Suicide blasts also struck two other Saudi cities on Monday. That an attack happened in Medina at such a place is likely to leave Muslims around the world aghast, BBC World Service's Middle East editor, Alan Johnston, says. Suspicion is likely to fall on so-called Islamic State (IS), he adds.Al-Arabiya gave a different account of the incident, saying the bomber had targeted the security off...