Amsterdam, Paris win post-Brexit EU agencies in lucky-dip thrillers

Updated 20 November 2017
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Amsterdam, Paris win post-Brexit EU agencies in lucky-dip thrillers

BRUSSELS: Amsterdam and Paris won the right to host the two EU agencies that must leave London on Brexit after a dramatic ministerial meeting in Brussels that left both results decided by drawing lots after votes were tied.
The European Medicines Authority (EMA), a key player in the continent’s health care industry, will go to Amsterdam, which pipped the favorite Milan, and the European Banking Authority (EBA) will go to Paris, winner in the lucky dip over Dublin.
“It’s like losing a final on penalties,” Italy’s EU affairs minister Sandro Gozi told reporters, adding that it had left a “bitter taste in the mouth” for an EMA bid that was not behind at any stage. He rejected, however, talk of “betrayal” among any allies who had promised Milan support before the secret ballot.
The outcome was welcomed by European pharmaceuticals bodies. The EMA had warned that many of its staff might quit, possibly disrupting health care in Europe, if governments had chosen a less attractive host city, notably in the ex-communist east.
Steve Bates, CEO of Britain’s BioIndustry Association, said: “Businesses now need certainty. The best way to do this is by an early agreement to a transition time frame and continued close regulatory cooperation. We must now ensure Brexit does not disrupt the safe supply of vital medicines to tens of millions of families in the EU 27 and the UK.”
Eastern governments were left empty-handed.
Frankfurt, home to the European Central Bank and aiming to be the Union’s primary financial center after Brexit, suffered a blow when it was badly beaten in the second round of EBA voting.
In a third round, Paris overhauled Dublin, which had been just one vote short of a second-round majority.
With the scores in the runoff tied again by abstention, Paris won when the Estonian minister chairing the meeting again had to draw lots.
Eastern governments had emphasised that there are relatively few EU agencies located in the countries which joined the bloc only after the Cold War. But their hopes were dashed.
In the EMA voting, Slovakia, whose capital Bratislava was pipped into fourth place in the first round, abstained in protest at the failure of any eastern city to progress.
In all, 19 cities had bid for the prestige and economic boost that the arrival of the EMA’s 900 staff and many offices for international pharmaceuticals companies will bring.
Estonia’s EU minister Matti Maasikas, who was chairing the voting session, called the contest “a sad reminder of the concrete consequences of Brexit.” Britain is due to leave the EU in March 2019.
Despite fierce competition, the 27 EU states were keen to avoid any protracted and bruising dispute over the matter as they see preserving unity as essential in facing Brexit, the biggest setback in the post-World War Two history of European integration.
“Whatever the outcome, the real winner of today’s vote is EU27. Organized and getting ready for Brexit,” EU summit chair Donald Tusk tweeted ahead of the votes.
— REUTERS


Closing Bell: Saudi main index closes in red at 11,183

Updated 16 February 2026
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Closing Bell: Saudi main index closes in red at 11,183

RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Monday, losing 44.79 points, or 0.4 percent, to close at 11,183.85.

The total trading turnover of the benchmark index was SR4.05 billion ($1.08 billion), as 69 of the listed stocks advanced, while 191 retreated.

The MSCI Tadawul Index decreased, down 6.63 points or 0.44 percent, to close at 1,504.73.

The Kingdom’s parallel market Nomu lost 328.20 points, or 1.36 percent, to close at 23,764.92. This comes as 22 of the listed stocks advanced, while 49 retreated.

The best-performing stock was Maharah Human Resources Co., with its share price surging by 7.26 percent to SR6.50.

Other top performers included Arabian Cement Co., which saw its share price rise by 6.27 percent to SR22.71, and Saudi Research and Media Group, which saw a 4.3 percent increase to SR104.30.

On the downside, the worst performer of the day was Arabian Internet and Communications Services Co., whose share price fell by 8.01 percent to SR207.80.

Jahez International Co. for Information System Technology and Al-Rajhi Co. for Cooperative Insurance also saw declines, with their shares dropping by 5.61 percent and 4.46 percent to SR12.79 and SR75, respectively.

On the announcement front, Etihad Etisalat Co. announced its financial results for 2025 with a 7.9 percent year-on-year growth in its revenues, to reach SR19.6 billion.

In a Tadawul statement, Mobily said that this growth is attributed to “the expansion of all revenue streams, with a healthy growth in the overall subscriber base.”

Mobily delivered an 11.6 percent increase in net profit, reaching SR3.4 billion in 2025 compared to SR3.1 billion in 2024.

The company’s share price reached SR67.85, marking a 0.37 percent increase on the main market.