Jun122017

ESMA issues positive opinion on short selling ban by Spanish CNMV

EU
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The European Securities and Markets Authority (ESMA) has issued an official opinion agreeing to an emergency short selling prohibition, for a period of one month, by the Comisión Nacional del Mercado de Valores (CNMV) on net short positions in Liberbank, S.A. (Liberbank) shares under the Short Selling Regulation.

The measure is expected to enter into force at 08:15a.m. CET, (before trading session begins) and to be applicable until 23:59 of 12 July 2017. It temporarily prohibits transactions in any shares, either directly or through related instruments and irrespective of the venue or market in which the transactions leading to those positions are conducted. The measure does not apply to market-making activities, trading in index-related instruments or short positions entered into to hedge positions on convertible bond or subscription rights.

The short selling measure applies to any natural or legal person, irrespective of their country of residence, and does not exempt market making activities.

ESMA considers that the current circumstances related to Liberbank constitute an adverse scenario for the Spanish financial system, and that the proposed measure is appropriate and proportionate to address the threat in the Spanish financial markets.

Jun122017

Weekly Road Report – West End Ward #dundeewestend

Fraser Macpherson
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DUNDEE CITY COUNCIL – WEEKLY ROAD REPORT

REPORT FOR WEST END WARD WEEK COMMENCING MONDAY 12 JUNE 2017

Riverside Esplanade/Riverside Drive (Tay Road Bridge off ramp to 75m along Riverside Drive) – westbound nearside lane closure for 23 weeks to facilitate V&A construction works.

SSE Glenagnes Cable Renewal – Lochee Road lane restrictions and closures on Blinshall Street, Fleuchar Street and Scott Street for 6 weeks.

A85 Riverside Drive – prohibition of right turn from westbound lane of Riverside Drive into Riverside approach and prohibition of right turn from Riverside Approach in to Riverside Drive from Monday 12 June for 26 weeks for works to the sea wall.  Prohibitions will only be in place when required.

Perth Road (at River Crescent) – temporary traffic lights from Wednesday 14 June for 4 weeks for sewer remedial works.

Guthrie Street (Horsewater Wynd to Blinshall Street) – closed on Sunday 18 June for BT manhole repair works.

Forthcoming Roadworks

Roseangle (Perth Road to Seabraes Court) – closed from Tuesday 20 June for 5 working days for SGN connection works.

Ancrum Road (Charleston Drive to Logie Street) – closed from Monday 3 July for 2 weeks for carriageway resurfacing works.

Jun122017

Torrential rain triggers disaster in southwest China

East Asia
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Continuous torrential rain since Friday has left 40,000 people with damaged property in southwest China’s Guizhou Province.

Heavy rain lashed 142 townships, swamping farmland, damaging houses, forcing evacuation of 295 people and causing direct economic losses estimated at 18.3 million yuan (2.7 million U.S. dollars).

The local civil affairs department is investigating the disaster and sending relief goods to affected areas.

Rain hit most parts of China’s central, eastern and southern regions over the weekend. China Central Meteorological Station Monday morning maintained rainstorm alerts for a third consecutive day in Guangdong, Zhejiang, Jiangxi, Hubei and Guizhou provinces.

Typhoon Merbok, the second typhoon of the year, is forecast to hit the southern province of Guangdong Monday evening, intensifying rainstorms in southern and eastern provinces.