Profitloss Centerstage Events

Brexit in the UK took Centerstage on Monday, 11 July 2016 among all major events across the globe, and remains the highlight of this week's list of center stage events.
Picture Courtesy: Profit loss

Centerstage events of week 2

Citibank announces the closure of accounts belonging to the Venezuelan...

Citibank announces the closure of accounts belonging to the Venezuelan Central Bank and the Bank of Venezuela. Venezuelan President Nicolas Maduro denounces this as a "financial blockade." Citibank cites a periodic risk management review for the decision. The closure raises concerns about the impact on Venezuela's foreign currency transactions, given the strict currency controls in the country. The Venezuelan government vows to overcome the situation and settle international accounts promptly.

Monday, 11 July, 2016

Baron Waqa is reelected as the President of Nauru, securing...

Baron Waqa is reelected as the President of Nauru, securing 16 out of 18 votes in Parliament. The parliamentary elections were held on July 9, 2016, following the dissolution of Parliament. Waqa, known for his loyalty to his administration, emerged victorious against opposition nominee Roland Kun. His reelection ensures the continuity of his government's policies and direction for the small island nation.

Tuesday, 12 July, 2016

Samsung faces significant financial losses in its initial venture into...

Samsung faces significant financial losses in its initial venture into mining, with Samsung C&T reporting a loss of at least $700 million over two years. The company's construction arm incurred substantial losses while building one of the world's largest iron-ore mines. Samsung's mining endeavor suffered from a combination of unfortunate circumstances and internal missteps, reflecting the broader challenges faced by companies involved in the mining sector amid falling commodity prices.

Wednesday, 13 July, 2016

Turkish Prime Minister Binali Yıldırım condemns the attempted coup d'état...

Turkish Prime Minister Binali Yıldırım condemns the attempted coup d'état by certain factions within the Turkish military, calling for calm. President Recep Tayyip Erdoğan urges supporters to take to the streets against the coup. The failed coup, carried out by the Peace at Home Council, sought to seize control but was thwarted by loyal forces. The government mobilizes to maintain stability and restore order in Turkey.

Thursday, 14 July, 2016

Turkey's central bank reassures investors by pledging to safeguard financial...

Turkey's central bank reassures investors by pledging to safeguard financial stability following the failed coup attempt. The bank announces its commitment to provide limitless liquidity to banks and sets the commission rate for intraday liquidity at zero. It closely monitors market conditions and price movements, emphasizing the strength of Turkey's macroeconomic fundamentals. These measures aim to instill confidence and maintain stability in the country's financial system.

Friday, 15 July, 2016

U.S. and Russian officials reach an agreement on undisclosed steps...

U.S. and Russian officials reach an agreement on undisclosed steps to facilitate an end to the Syrian civil war. The details of the measures remain undisclosed. The discussions, held in Moscow, aim to salvage the fragile cease-fire and address the challenges posed by Syrian President Bashar al-Assad's regime and extremist groups. Closer military cooperation and joint strikes against militant group Nusra Front are proposed, contingent on Russia using its influence to ground Syria's air force.

Saturday, 16 July, 2016

SoftBank, a Japanese telecommunications company, agrees to acquire British IT...

SoftBank, a Japanese telecommunications company, agrees to acquire British IT company ARM Holdings for over $32 billion. The deal represents a significant move by SoftBank to expand its presence in the technology sector, as ARM is a leading provider of semiconductor intellectual property. This acquisition aligns with SoftBank's vision to capitalize on the growth of Internet of Things (IoT) devices and positions them as a major player in the global semiconductor industry.

Sunday, 17 July, 2016