After rumors of recent weeks, the official approval has arrived: Abu Dhabi will have a new banking giant 175 billion dollars of assets. NBAD and First Gulf Bank, respectively the second and the third largest bank in the UAE, today approved their merger. In a joint statement the two banks explain that the merged bank will be the largest in the Middle East and North Africa. The transaction, which will be completed in the first quarter of next year, will lead to the cancellation of the First Gulf Bank name from the register of the Abu Dhabi stock exchange values. The new institute will be named National Bank of Abu Dhabi, although FGB shareholders will have a majority with 52% of capital.
EasyJet has applied for an air operator certificate of the European Union to continue to fly in all EU countries without restrictions that will affect carriers in the UK after the Union output. The airline low cost, in a statement, announced that it has begun a formal procedure for obtaining an air operator's certificate (COA) to maintain the 'status quo European'. "EasyJet - it says - is lobbying the UK government and the European Union to ensure its ability to continue to operate in a fully liberalized and deregulated market in the UK and Europe as it is today."
"I will put an end to free movement", it is the first point of the program Michael Gove, the British Justice Minister and candidate for the Tory leadership. "I will introduce a point system to the Australian and I will make the numbers" of immigrants. Gove, in the presentation speech, commended the prime minister resigning David Cameron and the chancellor of the Exchequer, George Osborne that the UK economy "is based on solid foundations."
AstraZeneca has reached agreement to sell the Danish Leo Pharma licenses for two drugs for the treatment of skin diseases by canceling the contract signed in September last year with Valeant. Leo Pharma will acquire the rights of tralokinumab, new drug used to treat inflammatory atopic dermatitis, paying $ 115 million immediately to AstraZeneca and up to 1 billion to the achievement of certain sales targets (as well as a percentage of royalty).
Slight improvement in the labor market of the Eurozone, which sees unemployment down slightly. It's the best figure since July 2011, since before the euro crisis season opened from the shock of sovereign spreads. According to the Institute of Statistics of the European Union (Eurostat), in May, the unemployment rate fell to 10.1% compared to 10.2% registered in April, resulting in improvement even compared with 11% in May 2015 . Analysts' expectations were spot on which indicated 10.1%.
Puerto Rico has been saved. The US president, Barack Obama, will sign a law that was passed by Congress and that will allow the restructuring of the debt of the American territory, which threatened to declare default in the coming days. A decision that opens the way for the restructuring of the debt of 72 billion dollars in bonds and the governor of Puerto Rico, Alejandro Garcia, had clearly stated that he could not honor the deadline of 1 July, amounting to $ 2 billion.
No entrance fee in Switzerland for frontier workers. The Federal Council has rejected a proposal to that effect in a motion of Lorenzo Quadri (Lega / TI), which proposed this system to protect the local labor market and cover the social, economic, environmental and infrastructure generated by the phenomenon. In Ticino border workers, as well as being a source of problems in the labor market, are entitled to benefits financed by the Swiss taxpayer and cause costs to society that are not called to cover, such as Quadri noted in his parliamentary speech and cited examples such as wear of the cantonal road network, damage to the economy generated by traffic jams and urban solid waste, whose collection and disposal is the responsibility of the resident population.
Argentina wants to take the path of economic recovery as soon as possible. The head of the Agency for Investment and International Trade, Juan Procaccini, in announcing an International Forum, a sort of mini-Davos, to be held in Buenos Aires in September with the presence of around 800 companies, has revealed that the Mauricio Macri's government aims to attract investments of about one hundred billion dollars over the next eight years to revive the country's economy. From 12 to 15 September over 1,500 local and international investors, entrepreneurs and political leaders will have the opportunity to explore investment opportunities that Argentina has to offer.
Lions Gate Entertainment, the production company, which produced among others the movies "The Hunger Games", plans to give birth to a merger with media company Starz. According to a report in the Wall Street Journal, Lions Gate has put into the pot $ 4.4 billion, cash and stock, to detect the television network. The agreement brings together the two cable companies, linked to magnate John Malone.
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