Britain votes to leave European Union, Cameron resigns | GulfNews.com Britain votes to leave European Union, Cameron resigns Markets in turmoil as investors responded with a mix of shock, fear and excitement; second independence vote 'on the table': Scotland's First Minister Nicola Sturgeon Britain votes to leave European Union.Image Credit: Reuters Nigel Farage (front), leader of the United Kingdom Independence Party (UKIP) reacts with supporters following Image Credit: Reuters Scottish first minister Nicola Sturgeon Image Credit: Reuters President Barack Obama issued a statement in response to the success of the Brexit vote.

Image Credit: AP British Prime Minister David Cameron speaks to the press in front of 10 Downing street in central London.Image Credit: AFP Leave supporters cheer results at a Leave.eu party after polling stations closed in the Referendum on the EuroImage Credit: Reuters Britain votes to leave the European UnionImage Credit: AFP & Reuters Supporters of the 'Stronger In' Campaign react as results of the EU referendum are announced at a resuImage Credit: AFP A supporter of leaving the EU celebrates in central London.Image Credit: AP Leave.eu supporters celebrate the result in Sunderland after polling stations closed on June 23, 2016.Image Credit: Reuters UK Independence Party (UKIP) leader Nigel Farage speaks to journalists.Image Credit: AFP ‹ › Published: 08:45 June 25, 2016 Gulf News Web Report Britain has voted to break out of the European Union (EU), striking a thunderous blow against the bloc and spreading panic through world markets. Gulf News reports the events as they happened.

UAE respects decision of British people: Mohammad His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, on Friday said the UAE respects the decision of Britons and remains committed to its partnership with the United Kingdom. “As the British people voted to leave Europe, we respect their choice and remain committed to our long and close partnership with the UK,” Shaikh Mohammad tweeted. “We also reaffirm our commitment to further develop our historical, strong relations with UK on all political and economic levels, a country that has been developing over the past four decades,” he added. As the British people votes to leave Europe, we respect their choice and remain committed to our long and close partnership with the UK.— HH Sheikh Mohammed (@HHShkMohd) June 24, 2016 We have woken up in a different country We respect their decision: Obama on Brexit US President Barack Obama said in a statement on Friday he respects the UK vote to leave the European Union. “The people of the United Kingdom have spoken, and we respect their decision,” he said.

“The special relationship between the United States and the United Kingdom is enduring, and the United Kingdom’s membership in Nato remains a vital cornerstone of US foreign, security, and economic policy. So too is our relationship with the European Union, which has done so much to promote stability, stimulate economic growth, and foster the spread of democratic values and ideals across the continent and beyond." “The United Kingdom and the European Union will remain indispensable partners of the United States” — @POTUS pic.twitter.com/gI76eRleD0 — The White House (@WhiteHouse) June 24, 2016 At the same time, the shock result from the British referendum left many in Washington contemplating whether a similar wave of voter populism could elect Donald Trump in November. Key 'Leave' campaign promise not true: Farage A major claim made by the "Leave" campaigners was that £350 million ($479 million) per week that Britain was sending to the EU would instead be put toward the National Health Service (NHS), a publicly funded health care system. But, on Good Morning Britain on Friday, UK Independence Party Leader Nigel Farage said that claim is untrue.

WATCH: @Nigel_Farage tells @susannareid100 it was a 'mistake' for Leave to claim there'd be £350M a week for NHS — Good Morning Britain (@GMB) 24 June 2016 Farage — a top advocate for leaving the EU — said he did not specifically made that claim, despite Leave campaigners having driven a tour bus with the £350 million figure on its side across the UK. Global panic among investors after shock vote The U.K.'s historic vote to leave the European Union jolted markets around the world, as investors responded with a mix of shock, fear and excitement. U.S. shares tanked on Friday — with the Dow Jones Industrial Average down by as much as 500 points. Investors fret that the unprecedented decision to leave the bloc could destabilise Europe’s fragile union. The shock vote came after global markets rallied a day earlier on a bet that Britons would vote to reject Brexit.

On Friday, the S&P 500 SPX, dropped 53 points, or 2.5% to 2,059, while the Dow Jones plunged 517 points, or 2.8%, to 17,505, with nearly all 30 blue-chip stocks traded lower. The pound and euro both sank the most on record, U.S. Treasury yields posted the biggest decline in seven years and the yen jumped to an almost two-year high. Bloodless revolution in Britain A seismic moment; a historic day; a bloodless revolution that has made over the map of Europe — and may very well have set Britain on a course to break up the United Kingdom itself. A majority of Britons voted 52 to 48 per cent in favour of Leaving the European Union. A majority of voters had put Britain on the path to separation from Brussels — an unprecedented divorce that sparked a sell off in global markets and led to a crash of 11 per cent for the pound against the dollar. Read more Airlines exposed to Brexit volatility The United Kingdom’s decision to exit the European Union will have ramifications that are to be felt across the world from London to Dubai to Shanghai.

Airlines, like many, will be wondering “what does this mean for us?” In the lead up to the vote, Emirates President Tim Clark warned a British exit would cause “shock waves” for the EU. Dubai-based British expat Adam Duffield from West Sussex, says he was shocked by ‪#‎Brexit (Video by Irish Eden Belleza) Brexit a blow to Europe and European unity process: Merkel German Chancellor Angela Merke AP German Chancellor Angela Merkel voiced regret Friday at Britain's decision to leave the European Union, calling it a "blow" to Europe. "We take note of the British people's decision with regret. There is no doubt that this is a blow to Europe and to the European unification process," she said, adding that she will on Monday host post-Brexit talks with the leaders of France and Italy as well as with European Union president Donald Tusk in Berlin. Pope calls for 'guarantees' after Brexit for good of UK, continent Pope Francis said on Friday that Britain's decision to leave the European Union must be followed by "guarantees" for the good of both Britain and countries on the continent.

Speaking to reporters aboard his plane shortly after it left Rome for the Armenian capital, Yerevan, Francis suggested the referendum result had to be respected because it was wanted by the people. "It was the will expressed by the people and this requires a great responsibility on the part of all of us to guarantee the good of the people of the United Kingdom, as well as the good and co-existence of the European continent," he said. "This is what I expect," he added. Sturgeon said a second independence vote was 'on the table' Scotland's First Minister Nicola Sturgeon said Friday that a second independence vote was "on the table" after Britain voted to leave the European Union. . @NicolaSturgeon :"Unacceptable" for Scotland to be taken out of EU "against its will" — BBC Breaking News (@BBCBreaking) June 24, 2016 "The option of a second referendum must be on the table and it is on the table," she said, adding that legislation for another vote following the one held in 2014 would be prepared when the Scottish Parliament approved it.

EU chiefs say Britain must leave 'as soon as possible' EU chiefs told Britain to start negotiations to quit the bloc "as soon as possible", after outgoing Prime Minister David Cameron said Friday he would leave the negotiations to his successor. "We now expect the United Kingdom government to give effect to this decision of the British people as soon as possible, however painful that process may be," said a joint statement after Britons voted for a Brexit. "Any delay would unnecessarily prolong uncertainty." Vote for Brexit a 'grave test for Europe': Hollande French President Francois Hollande said Friday that Britain's vote to leave the EU was a "grave test for Europe" in view of the economic and financial consequences. "The British vote poses a grave test for Europe, which must show solidity and strength in its response to the economic and financial risks," Hollande said. For now, Brits in Spain will have same rights, Madrid says Spain's premier on Friday sought to reassure Britons living in Spain after the Brexit vote, saying that for now, they would keep the same rights to live and work there. Spain is home to the largest concentration of British nationals living outside their country in the European Union, and many of them have watched the Brexit campaign with growing concern.

In a televised address, Prime Minister Mariano Rajoy said EU treaties governing Britain's ties with the rest of the bloc would remain in force while London negotiates the terms of its exit in a process he said could take "at least two years". During that time, nothing would change for Britons in Spain, nor for Spaniards in Britain, who would maintain the same rights they have enjoyed until now as EU citizens. Nato says UK to stay 'strong ally' despite Brexit Britain will remain a strong ally and continue to play a leading role in Nato despite its vote to leave the European Union, alliance head Jens Stoltenberg said Friday. "The UK will remain a strong and committed Nato ally and will continue to play its leading role in our alliance," Stoltenberg said in a statement. He said Nato would also provide a platform for continued cooperation between its European member states in the face of new security challenges. "Today, as we face more instability and uncertainty, Nato is more important than ever as a platform for cooperation among European allies, and between Europe and North America," he said. "The alliance remains committed to closer cooperation with the European Union," he added.

European Central Bank ready to provide additional liquidity The European Central Bank said Friday it is ready to provide additional liquidity for financial markets if needed in the meltdown sparked by Britain's decision to quit European Union. "Following the outcome of the UK referendum, the European Central Bank is closely monitoring financial markets and is in close contact with other central banks," it said in a statement. "The ECB stands ready to provide additional liquidity, if needed, in euro and foreign currencies," the bank said, adding: "The ECB has prepared for this contingency in close contact with the banks that it supervises and considers that the euro area banking system is resilient in terms of capital and liquidity." 11.29am, Dubai: Prime Minister David Cameron announced Friday he will resign after Britons voted to leave the European Union despite his campaign to keep it in the bloc. Cameron promised to try to "steady the ship" over the next months and did not give a precise timetable for his departure but said a new leader should be installed by early October. "I do not think it would be right for me to try to be the captain that steers our country to its next destination," the British leader said outside his Downing Street residence in London.

He said videohis successor should trigger the formal process for Britain to leave the European Union. "I think it's right that this new prime minister takes the decision about when to trigger Article 50," Cameron said. "I would also reassure Brits living in European countries and European citizens living here that there will be no immediate changes in your circumstances," he said. Flanked by his wife Samantha, Cameron said he had fought to retain Britain's membership of the EU "head, heart and soul - I held nothing back". But he added: "The British people have made a very clear decision to take a different path and as such, I think the country requires fresh leadership to take it in this direction." Britons decided by 52 per cent to 48 per cent in favour of quitting the EU, a margin of more than one million votes, final results showed. VIDEO: EU members working in UK don't seem worried by the outcome. Senior Associate Editor Mick O'Reilly is live from the UK for ‪#‎Brexit . VIDEO: Senior Associate Editor Mick O'Reilly is live from UK for ‪#‎Brexit. Romanian national talks about whether she will continue to work in the UK.

British expats in UAE respond to Brexit British expats living in the UAE have reacted to the news, with some telling Gulf News they were disappointed in the result. Murray Brown, a British expat working in the finance sector in Dubai, told Gulf News he feared the result would damage the UK economy. Read more Brexit unlikely to lead to contagion: EU's Schulz The European Parliament's chief expressed hopes Friday that Britain's decision to leave the EU would not lead to contagion, as Germany's finance minister said clear procedures for an exit from the bloc provided "reliability". German Chancellor Angela Merkel Reuters EU Parliament President Martin Schulz said he would speak with German Chancellor Angela Merkel "on how we can avoid a chain reaction" of other EU states following. "The chain reaction that is being celebrated everywhere now by euroskeptics won't happen," he said. The EU was the biggest single market in the world and "Great Britain has just cut its ties with that market," Schulz said.

"That'll have consequences and I don't believe other countries will be encouraged to follow that dangerous path." "I am not shocked," he said of the results of the British referendum, adding: "We were prepared." Schulz added that he expected British Prime Minister David Cameron to speak at a special session of the European Parliament on Tuesday, and that negotiations would start soon over Britain's exit. Anti-EU campaigner Farage urges 'Brexit government' Nigel Farage, leader of the anti-EU UK Independence Party, said Friday Britain should now have a "Brexit government" after it voted to leave the European Union. "We now need a Brexit government," he told reporters outside parliament. "We've left behind a failing political union." 10.05am, Dubai: The UK has voted to leave the European Union after 43 years in a historic referendum. Leave won by 52% to 48% with England and Wales voting strongly for Brexit, while London, Scotland and Northern Ireland backed staying in the EU. UKIP leader Nigel Farage hailed it as the UK's "independence day" but the Remain camp called it a "catastrophe".

The pound fell to its lowest level against the dollar since 1985 as the markets reacted to the results. Cameron to remain British PM after Brexit vote: minister David Cameron will stay on as prime minister even though Britain has voted to leave the European Union, Foreign Secretary Philip Hammond said Friday. "He will remain prime minister, he will carry out the instructions of the British people," Hammond told Sky News television. Rupee sinks most since 2013 as Brexit fears spur risk of outflow 9.48am, Dubai: India’s rupee headed for the biggest decline since 2013 as the UK’s referendum results pointed toward a vote to leave the European Union. Reuters A so-called Brexit would bring uncertainties for global growth that could curb appetite for assets in emerging markets like India and exacerbate losses for the rupee, already Asia’s worst-performing currency this year. The eventuality of the UK leaving the EU could also worsen a slump in Indian exports given the nation’s $14 billion trading ties with Britain. State-run banks were seen selling dollars on behalf of the Reserve Bank of India, according to two Mumbai-based traders.

The Indian currency slumped 1.3 per cent to 68.1525 a dollar as of 10:01am in Mumbai, set for its biggest loss since September 2013, according to prices from local banks compiled by Bloomberg. It sank to 68.2150 earlier, the lowest level since March 1. The rupee has weakened 2.9 per cent in 2016, while India’s overseas shipments have slumped for 18 straight months. Gold posts biggest rally since 2008 on shock Brexit vote 9. 32am, Dubai: Gold jumped as much as 8 per cent to its highest in more than two years on Friday, after Britons shocked markets by voting to leave the European Union, driving investors toward safe-haven assets such as bullion. The precious metal posted the biggest rally since the 2008 global financial crisis, tracking other safe havens, such as bonds, as risky assets were dumped from stocks to sterling.

Spot gold was up 5.9 percent at $1,329.29 an ounce by 0453 GMT, after rising as high as $1,358.20, the strongest since March 2014. Gold soared nearly 11 percent on Sept. 17, 2008. Sinn Fein calls for vote on Irish unity after Brexit 9.29am, Dubai: Northern Ireland should be allowed to vote on uniting with the Republic of Ireland after the British-ruled province voted to remain in the bloc, the Sinn Fein party said on Friday. "We have a situation where the north is going to be dragged out on the tails of a vote in England... Sinn Fein will now press our demand, our long-standing demand, for a border poll," Sinn Fein's national chairman Declan Kearney said after media projections said the UK as a whole had vote to leave the EU. London realty could be another to take a hit Dubai: The pound need not be the sole victim – at least in the short term - from the Brexit vote. London’s property market too can come in for some heavy volatility as it adjusts to life without the European Union.

A weakening pound – it only remains to be seen how low it will fill in this immediate spiral – also creates opportunities for buyers. Read more S&P 500, Nasdaq futures slump 5%, hit limit down thresholds 9.14am, Dubai: S&P 500 and Nasdaq E-mini futures plummeted 5 percent early on Friday, hitting overnight limit thresholds after Britain appeared to have voted to leave the European Union. Futures on the Dow Jones industrial average dropped 3.8 percent. German bond yields hit new low 9.10am, Dubai: Benchmark 10-year euro zone sovereign bond yields fell to a fresh record low below zero on Friday as investors rushed to the safety of German government debt after Britain's dramatic and historic decision to leave the European Union. The yield fell as low as -0.09 per cent, according to Tradeweb data, before recovering some ground to -0.3 per cent. Investors sold riskier euro zone bonds like Spanish and Irish paper. The spread between Irish and German bond yields widened as much as 20 basis points to 88 basis points, and the Spanish/German yield spread widened a similar amount to 158 basis points.

"On the European continent, we have to brace ourselves for serious ripple effects. The Brexit shock, the resulting uncertainty and likely market upheaval will also dampen growth in the euro zone for the remainder of this year," said Holger Schmieding, chief economist at Berenberg Bank in London. Bank of Japan The Bank of Japan said Friday that it stood ready to work with other major central banks to inject ample liquidity to counter wild volatility in financial markets hammered by Brexit fears. "The Bank of Japan, in close cooperation with relevant domestic and foreign authorities, will continue to carefully monitor how the result would affect global financial markets," it said in a statement. "The bank will stand ready to provide sufficient liquidity, including utilising the swap arrangements among the six central banks, and thereby ensure the stability of financial markets." Scotland 'sees its future as part of the EU': leader First Minister Nicola Sturgeon AFP 9.02am, Dubai: Scotland sees its future as "part of the EU", First Minister Nicola Sturgeon said on Friday following a forecast Brexit victory in the EU referendum, which she had earlier indicated could precipitate Scottish independence.

"Scotland sees its future as part of the EU," Sturgeon was quoted by Sky News as saying, telling the BBC: "Scotland clearly and decisively voted to remain part of the European Union, 62 to 38 (percent)". Cameron's luck runs out as EU vote puts future on line 8.49am, Dubai: Prime Minister David Cameron may go down in history as the man who led Britain out of the European Union, with a strong chance that he will not survive the country's political earthquake. As Britain voted to become the first state ever to withdraw from the bloc on Thursday, according to national media forecasts, Cameron's epitaph could be sealed after six years in power. "He's put himself front and centre of the 'Remain' campaign, and to have lost the campaign would be a massive blow to his credibility," Tim Bale, professor of politics at Queen Mary University of London said earlier. "We probably would, within a few days or weeks, see him signal his intention to go as soon as a leadership contest could be conducted," he told AFP.

Britain in 'uncharted territory' 8.10am, Dubai: An aide working in Prime Minister David Cameron's office said on Friday that Britain was now in uncharted territory after the country looked set to vote to leave the European Union, reports Reuters. "We're in uncharted territory," an aide working in the prime minister's office told reporters. "Everyone's just really tired. They haven't slept." 'A bad day for Europe', says Germany's Gabriel German Vice Chancellor Sigmar Gabriel on Friday described Britain's vote to leave the European Union as "a bad day for Europe". "Damn! A bad day for Europe," Gabriel, who is also Germany's economy minister, said on his official Twitter account. Results from Thursday's landmark referendum showed Britain voted to leave the EU, an outcome that sets the country on an uncertain path and deals the largest setback to European efforts to forge greater unity since World War Two. We've got our country back. Thanks to all of you. #IndependenceDay — Nigel Farage (@Nigel_Farage) June 24, 2016 7.49am, Dubai: Britons have voted to leave the European Union.

With 355 electoral areas reporting and more than 30 million counted, the Leave campaign had built up a 52 to 48 per cent lead over Remain -- a stunning political blow to Prime minister David Cameron -- and a seismic blow to the future of Europe -- and the United Kingdom itself. Nicola Sturgeon, the First Minister for Scotland, said that the people of Scotland see their future in the European Union. "People will be looking at this result in Scotland and will be wondering what is the best thing for Scotland now," a Scottish government minister told the BBC, opening the door to a second referendum on Scotland's independence. Cameron is expected to make a statement shortly from Downing street. Leave won 15.8 million votes to 14.7 million. World markets reacted by selling the point, and it shed more than 11 per cent in a matter of hours. London, Scotland and Northern Ireland voted to Remain, but not in sufficient numbers to overcome strong Leave support in the Midlands, Wales and northern England. Sinn Fein, the Irish nationalist party said the Brexit vote means that a referendum is now needed on a united Ireland. No nation has ever voted to leave the European Union -- nor any other economic bloc globally.

The G7 finance ministers, the European central Bank and the Bank of England will be making statements to reassure markets. The result will inspire right-wing movements in Poland and Austria to consider similar votes. Cameron will be obligated to inform the European Council of the result -- the timing is his to make. Once that happens, the terms of exit will be negotiated over a two-year period. By Mick O'Reilly, Senior Associate Editor Leader Nigel Farage celebrates at the Leave.EU party in central London. AFP 7.45am, Dubai: BBC forecasts: UK votes to leave. Pound collapses AFP The pound collapsed to a 31-year low as currency, equity and oil markets went into freefall Friday with early referendum results indicating Britain would leave the European Union. Oil slumps Oil prices slumped more than 4 percent in Asian trading after results so far from a British referendum on European Union membership showed the "Leave" camp holding a lead. 7.40am, Dubai: Referendum exposes "real tensions" within the UK, Labour Member of the European Parliament says. 7.32am, Dubai: Turnout is 72%, highest turnout nationally since 1992 general election.

7.30am, Dubai: Leave leads by 748,000 with 22.7 million votes counted. Will Straw, chairman of the Stronger in Europe group says there will be no second referendum if the vote is close. "There will be consequences for Brits." Sydney stocks fall 3% on early results of Brexit vote Australia's benchmark stock index sank more than three percent on Friday, despite lifting at the start of the day's trade, as early results from Britain's European Union referendum shifted towards leaving the bloc, AFP reports. Sydney's benchmark S&P/ASX 200 was down 156.8 points, or 3.1 percent, to 5,123.9 at about 0245 GMT. 7.16am, Dubai: Leave leads by 580,000 with 21.6 million votes counted 7.10am, Dubai: Leave leads by 450,000 with 19.5 million votes counted. "Let June 23 go down in our history as our independence day," declares Nigel Farage, leader of the UK Independence Party.

Nigel Farage: "The dawn is breaking on an independent United Kingdom. This will be a victory for real people, a victory for ordinary people." Leave 9.1 million votes; Remain 8.7 million votes 6.55am, Dubai: Leave leads by 432,000 with 16.7 million votes counted. Trading in Singapore has just opened, with Asian markets reacting nervously to the results so far. 6.50am, Dubai: With more than half of the votes still to come in, "It does look as if the Leave side are favourites," says Professor John Curtice of the University of Strathclyde, "but it's still too early to call." Senior Whitehall source says: "This [Brexit] wasn't supposed to happen. Everything will go through the floor." 6.40am, Dubai: With 15 million votes counted, Leave leads by 500,000. 6.31am, Dubai: The final result will hinge on how London and its large population votes, with six of 33 boroughs reporting so far. If Remain wins, it's on the basis of support in the capital and Scotland.

With 13 million votes counted, Leave leads by 300,000 votes. 6.30am, Dubai: Northern Ireland supports Leave by 54% to 46% 6.25am, Dubai: Leave take a 300,000 vote lead, with 12 million votes counted. EU vote shows divided Britain, result too close to call 6.20am, Dubai: Britain's bitterly contested referendum on whether to quit the European Union was too close to call on Friday as early results showed a deeply divided nation while the pound was hammered on financial markets. Bookmakers adjusted their odds to reflect an even chance of a 'Brexit' as the Leave camp grabbed an early lead, before results from Glasgow and parts of London helped the Remain side to inch ahead as a nail-biting national count proceeded. 6.10am, Dubai: Leave lead by 60,000 votes with almost 9 million votes counted, and one-third of the 382 districts reporting. 6.05am, Dubai: Turnout in London is expected to be 74%.

Monsoon-like rainfall in the city caused seven of 3,800 polling stations to be moved. 5.55am, Dubai: London borough of Islington votes to Remain, giving the Remain side a 55,000 lead nationally, at 50.2% to Leave's 49.8% with 100 of 382 districts reporting. 5.40am, Dubai: Turnout in the referendum is expected to exceed 70%, the largest turnout in a UK election since the 1997 general election. Northern Ireland and Scotland are both likely to support Remain, with Wales almost evenly split. Alex Salmond, the former First Minister of Scotland, says he believes Northern Ireland and Scotland will be the deciding factor in a Remain win. 5.35am, Dubai: "Win or lose tonight, we will win this war. We will get our country back," Nigel Farage, leader of the UK Independence Party and Leave campaigner, says. 5.30AM, Dubai: Remain are at 50.7% to 49.3% after 4.5 hours of counting.

With large London boroughs beginning to report, the Remain side is starting to increase its narrow lead, indicating that London may very well be the deciding factor. Leave is polling well in rural and northern England. Sterling, stocks skid as Brexit result agonisingly close Carnage came to world markets on Friday as early voting returns suggested Britain was on the brink of leaving the European Union, threatening the existent of the entire bloc and its single currency. At one stage the British pound had collapsed no less than 10 US cents, its biggest fall in living memory, while the euro slid 1 percent as investors feared for its future. Sterling was last at $1.4450, having carved out a massive range of $1.4000 to $1.5022. At it worse, the fall was even larger than during the global financial crisis and the currency was moving one or two cents in the blink of an eye. "Sterling is getting smackadoodled," said Tim Kelleher, Head of FX Institutional Sales New Zealand for ASB Bank in Auckland.

"While we thought it was all going to be "Remain", it's quite clearly not going to be as clear cut as that." Early official results showed the margins were nail-bitingly tight but pointing to a "Leave". 1.06 am BST, Friday [5.06am, Dubai]: With results in from 28 out 382 voting regions, Leave takes 51.2% while Remain has 48.8%, according to a SkyNews tally. Areas that voted Leave: Basildon, Blaenau Gwent, Brentwood, Broxbourne, Flintshire, Hartlepool, Kettering, Merthyr Tydfil, Middlesbrough, South Tyneside, Stockton-on-Tees, Sunderland, Swindon, Weymouth & Portland Areas that voted Remain: City of London, Clackmannanshire, Dundee, East Ayrshire, Gibraltar, Inverclyde, Isles of Scilly, Midlothian, Newcastle-upon-Tyne, Orkney Islands, Renfrewshire, Shetland Islands, West Dunbartonshire and Western Isles.

12.06 am BST, Friday [4.06am, Dubai]: Leave wins in Sunderland by 22%, while Newcastle votes Remain by a margin of 1% — tighter than predicted — and there are Leave wins in Swindon and Broxbourne, the British media reported. The city of Sunderland in north eastern England voted more strongly than expected to leave the EU. According to official results, 61.3 percent of voters in Sunderland backed leaving the bloc, above the 56.5 percent predicted by J.P. Morgan in analysis published before the vote. Sunderland, one of the first few results to declare, has a large number of older, lower income voters who polls show are more likely to back so-called "Brexit". If Leave had not been strongly ahead here, it could have indicated they would struggle to break through in areas less favourable to Brexit. A full picture, however, is not expected to emerge for two or three hours as counting continues around the country. Turnout looks set to be higher than at last year's general election.

Pound falls 6% as "Leave" strengthens in early count 11.33 pm BST, Thursday [3.33am, Friday, Dubai]: "Leave" strength in early poll results in sudden sell-off of pound in international trading. Pound falls 6% in 15 minutes. 11.23 pm BST, Thursday [3.23am, Friday, Dubai]: Sterling falls 1% on news Leave leads 161,744 to Remain's 158,536 after 5 of 382 local authority areas report. 11.20 pm BST, Thursday [3.20am, Friday, Dubai]: ‘Leave’ takes lead in referendum with 5 of 382 electoral districts reporting. Slim margin for "Remain" in Newcastle 11.01pm BST, Thursday [3.01am, Friday, Dubai]: Newcastle referendum result: 129,072 votes cast.

Remain: 65,404 — 50.7% Leave: 63,598 — 49.3% 10.44pm BST, Thursday [2.44am, Friday, Dubai]: "I have been demonised for the past 10 years," Nigel Farage, Ukip leader says. " The Eurosceptic genie is out of the bottle and will not be put back." Remain ahead in Gibraltar 10.40pm BST, Thursday [2.40am, Dubai]: Gibraltar is the first to report result with "Remain" votes in the British overseas territory far ahead (96%) of "Leave". Remain: 19,322 Leave: 823 A big Remain win had been predicted in Gibraltar amid concerns about its border with Spain. 10.21pm BST, Thursday [1.21am Friday, Dubai]: Conservative party cabinet ministers who support Leave — including Boris Johnson and Michael Gove — sign a letter telling David Cameron that regardless of result, he has a duty to carry on as party leader and as Prime Minister.

10.16pm BST, Thursday: Ian Duncan Smith MP for Leave side tells BBC turnout in council housing areas is particularly high, at 80 per cent, whereas in general elections, turnout in council housing areas are normally 30 per cent — and that will favour Leave. 10.11pm BST, Thursday: Moments after polls close, United Kingdom Independence Party (UKIP) and Leave campaigner says "Remain" might just have squeaked through. Gibraltar reports 84 per cent turnout. After voting closed, British politician and leading “Leave” campaigner Boris Johnson says “democracy has been served”. The polls have now closed, democracy has been served + we await the verdict of the people. Thanks to everyone involved + everyone who voted— Boris Johnson (@BorisJohnson) June 23, 2016 10.05pm BST, Thursday [1.05am, Friday, Dubai]: Voting ends, counting underway in the referendum that will decide whether or not the UK remains a member of the EU. Prime Minister David Cameron thanks British voters and the "Remain" campaigners.

Thank you everyone who voted to keep Britain stronger, safer & better off in Europe - and thousands of @StrongerIn campaigners around the UK — David Cameron (@David_Cameron) June 23, 2016 On online Populus poll shows that support for remaining in the EU stood at 55 percent, with 45 percent supporting a Brexit. Populus, which released the results on Twitter while Britain's referendum was under way on Thursday, said the survey of 4,700 was carried out on Tuesday and up to midnight on Wednesday night. Populus Final #EUref Poll (4700, Online) 55% #Remain : 45% #Leave . Fieldwork 21-06-16 to midnight 22-06-16. pic.twitter.com/OA88iC32ZJ — Populus (@PopulusPolls) June 23, 2016 51% would vote remain: YouGov poll A YouGov poll for the Time shows 51 per cent of Britons would vote remain in the European Union.

The same YouGov poll showed that 49 per cent of Britons would vote to leave, according to a Reuters report. So far, four polls published over the last 24 hours suggest Britons will vote to stay in the EU at Thursday's referendum. New EU referendum poll puts 'Remain' at 52 per cent The campaign to keep Britain in the European Union has a narrow lead, according to a new opinion poll released Thursday as Britons voted in a tight referendum. The Ipsos MORI poll for the Evening Standard newspaper put "Remain" on 52 per cent and "Leave" on 48 per cent, sending the pound soaring against the dollar. Polling was carried out on Tuesday and Wednesday. Labour leader Corbyn votes UK Labour party leader Jeremy Corbyn casts vote in EU referendum in Islington, London.

Great to meet a student who is voting Remain so he can study, work and travel in Europe #LabourInForBritain pic.twitter.com/UAwgYE2mPP — Jeremy Corbyn MP (@jeremycorbyn) June 23, 2016 Nigel Farage votes in the referendum Nigel Farage, the leader of the United Kingdom Independence Party (UKIP), arrives to vote in the EU referendum, at a polling station in Biggin Hill, Britain. Reuters Nicola Sturgeon casts her vote Scotland's First Minister, Nicola Sturgeon, casts her vote in Glasgow. AP Pencils to vote?! What so they can rub them out and re do them?! I'll be taking a marker pen with me.... #EUref #VoteLeave #EUreferendum — Becca Tamblyn (@Becca2404) June 23, 2016 Asia stocks advance as Britain’s EU referendum gets under way Asian stocks edged higher on low trading volume as investors brace for the outcome of Britain's referendum on European Union membership.

The MSCI Asia Pacific Index climbed 0.8 per cent to 130.55 as of 4:05 pm in Hong Kong, led by gains in Japanese equities, while stock gauges in Indonesia, Shanghai and Taiwan declined. With voting already under way in the UK, past opinion polls showed the referendum was too close to call. Volumes Thursday were below average in Japan, India and Australia. Japan's Topix index rose 1.1 per cent, with turnover dropping to its second-lowest level this year, while the yen weakened 0.1 per cent to 104.47 per dollar. The Topix is down 16 per cent already in 2016, the second-largest decline among 24 developed equity markets tracked by Bloomberg. Hong Kong's Hang Seng Index added 0.4 per cent and the Shanghai Composite Index dropped 0.5 per cent. South Korea's Kospi index declined 0.3 per cent, Australia's S&P/ASX 200 Index gained 0.2 per cent and New Zealand's S&P/NZX 50 Index rose 0.6 per cent.

Singapore's Straits Times Index added 0.4 per cent. Vietnamese shares climbed 0.9 per cent, while stocks in Indonesia, Taiwan and the Philippines dropped at least 0.3 per cent. Futures on the S&P 500 Index advanced 0.5 perc ent. The underlying gauge lost 0.2 per cent on Wednesday. Erdogan suggests UK-style referendum on Turkey EU bid Turkish President Recep Tayyip Erdogan. Reuters Turkish President Recep Tayyip Erdogan has suggested Turkey could hold a referendum over whether to continue its long-stalled accession process to join the European Union. Angrily lashing out at the bloc’s treatment of Ankara, Erdogan said Turkey could hold a referendum along the lines of the plebescite in Britain, where voters are deciding Thursday whether to stay in the European Union or leave. His comments were the first time the Turkish strongman had raised the prospect of holding a referendum on Turkey’s EU bid. He had previously repeatedly insisted that full membership of the European Union was Turkey’s strategic aim. German paper offers England a reason to vote to remain in EU England’s controversial third goal scored in the 1966 World Cup final.

AP Germany has offered a special deal to Great Britain, specifically England, in an attempt to sway the British public to vote “remain” in Thursday’s EU referendum. German newspaper Bild has offered to acknowledge that England’s third goal in the 1966 World Cup final, when England beat West Germany 4-2 at Wembley, was genuine. Read more It's great to see David Walliams is voting Remain. — David Cameron (@David_Cameron) June 23, 2016 British Prime Minister David Cameron and his wife Samantha arrive to cast their votes in the EU referendum, at a polling station in London. AFP I wait with bated breath I am not sure I can bear reading anything about Brexit today just in case it goes the wrong way. If Britain votes to leave Europe it would be a very depressing state of affairs. I have always been a bit of a fan of Boris, but his comments over Brexit and being Great Britain have really left me cold. I understand Europe is not very democratic, but then for people in the North of England (let alone Scotland, Wales or Ireland), Westminster does not feel that responsive either.

I do believe in more devolved powers over policing, education, energy, recycling – where issues are community based – but for macro issues we have to accept that these need to be done on a supra-national basis. We need to get over the idea of national sovereignty. What I do like about the Brexit debate is that this is democracy in action. It may not be pretty. In fact, it has often been ugly but this is a country debating a real issue, and deciding its own future. It is what politics should be about, and is quite a sight to see. I would imagine many people living in less democratic regimes at this level at least will be quite jealous. What I dislike about the debate is what I dislike about all debates – the reduction to point scoring rather than argument to resolution. Often legitimate, valid points are portrayed as resorting to the tactics of fear, or conversely, being Little England or Xenophobic. On both sides there are genuine concerns and fears, and even where these do not hold up to scrutiny, they should be challenged in a rational, mature way – not shouted down. It has been a very divisive debate. It will be interesting to see how it plays out post vote either way it goes.

I hope it will prove to have been cathartic, and after all of the emotion, the country will heal quickly and move forward. It will be a shame if the bitterness lingers. Personally I do not think it will. It did not after the Scotland vote. People just rolled up their sleeves and got on with it. David Westley, Portal Manager, Gulfnews.com Quick facts Polling stations opened at 07:00 BST and will close at 22:00 BST Around 46.5m people are entitled to take part in the vote It is only the third nationwide referendum in UK history Voters warned of flooding People living in south-east England and London may have to brave floods and torrential downpours to cast their ballots. London Fire Brigade says it received hundreds of calls overnight to reports of weather-related incidents, including lightning striking property, flooded homes and vehicles being trapped by rising water. The Environment Agency has issued four flood warnings covering rivers in Bromley, Sidcup and Basildon and 22 flood alerts across south-east England. Dry, fine and sunny weather is predicted for most of the country, with showers expected in parts of Scotland and Northern Ireland.

Asia markets, pound edge up as Britain starts voting 11.30am: The pound rallied against the dollar in Asian trade while stock markets were mostly up but traders stepped nervously as Britain began voting in a knife-edge in-out EU referendum Thursday. Attention around the globe is now fixated on the ballot, which opinion polls are saying is too close to call but bookmakers suggest will definitely see a victory for the "remain" camp. Markets suffered a sharp sell-off last week after surveys indicated the country would leave, which many analysts warn could lead to another global rout just months after a China-fuelled sell-off that wiped trillions off valuations. Hours before the 0600 GMT start of voting, the pound hit a 2016 record of $1.4844 before easing slightly to $1.4755, but still up from $1.4737 in New York. Sterling has risen almost six percent since hitting a two-month low last Thursday. On equity markets, Tokyo ended up 1.1 percent and Sydney was 0.2 percent higher while Hong Kong rose 0.4 percent in the afternoon.

Shanghai closed 0.5 percent down and Seoul shed 0.3 percent. The dollar eased to 104.37 yen from 104.51 yen in US trade. Millions of Britons began voting 10.05am, UAE time: Millions of Britons began voting Thursday in a bitterly-fought, knife-edge referendum that could tear up the island nation's EU membership and spark the greatest emergency of the bloc's 60-year history. A record 46.5 million voters have registered to decide on Britain's future in the 28-nation European Union, which was born out of a determination to forge lasting peace in the continent after the carnage of two world wars. Arab expats hope Britain will remain friendly after vote Hamid Beloushi was looking for jeans in the Levi store on Regent Street. His size wasn’t in stock, so the 27-year-old chemical engineer from Cairo was going to continue his shopping expedition further down the crowded curving street. “I don’t understand why Britain wants to leave the European Union,” he says. “There’s nothing like it anywhere else. You can move freely. No visas. No paperwork or waiting to get things done.

You don’t need to pay a bribe to make things happen.” Read more Political campaigning reaches new lows Leave supporters hold up placards in Clacton-on-Sea as UK Independence Party leader Nigel Farage visits on Tuesday. AFP With 46.5 million Britons registered to vote in Thursday’s referendum on the UK’s future in or out of the European Union, the vicious and divisive nature of the campaign has unleashed a new era in politics here. “It’s very much the Americanisation of British politics,” Jonathan Wilson, a researcher in statistics told Gulf News. Read more Ryanair CEO says Brexit vote could cause whole of EU to unravel A Ryanair aircraft at London’s Stansted Airport. Ryanair’s CEO Michael O’Leary favours an overhaul of the EU to make it less bureaucratic and simplify regulations. Bloomberg Ryanair Holdings Plc Chief Executive Officer Michael O’Leary said a UK vote to leave the European Union could lead the whole of the 28-nation bloc to unravel.

Speaking one day before a referendum on a so-called Brexit, O’Leary, an Irishman who has emerged as one of the most outspoken backers of the “Remain” campaign, warned that a victory for the “Leave” side would signal “an end to the European project.” Done my duty !! #Brexit pic.twitter.com/cYQgD9CCgZ — Stephen Brown (@willowbrookwolf) June 23, 2016 Can Brexit reawaken Scottish independence dream? The perceived wisdom in much of the UK ahead of Thursday’s European Union referendum vote is that Scottish Nationalist dreams of independence would be reawakened should Britain opt for a Brexit. Former Prime Minister Sir John Major has gone so far as warning that a victory for Leave could ‘tear the UK apart’ as the pro-European Scots would be outraged at being dragged out of the bloc by their neighbours.

Read more The disarray a Brexit would wreak Here’s what the world could look like on June 24 if the “Leave” camp won the previous day’s referendum on whether the UK should continue to be part of the European Union: The foreign exchange markets are in turmoil, with the pound falling 7-10 per cent and the euro down about 3-5 per cent. Stocks also are under considerable pressure as investors try to price in greater institutional uncertainties and the coming hit to economic growth. Read more The end of European ‘soft power’ Germany would probably have been content with the status quo here in the Old World. The United States and China are by now, economically speaking, significantly superior to Germany. They also play in a different league on the military front. All of this could be borne with magnanimity, seeing as the Old World has something in abundance that no other region on the planet has to offer, namely its good reputation. Even as the hard numbers, such as gross domestic product, may be trending in the wrong direction, Europe is still a force to be reckoned with in “soft power”.

Question: In 2013 which British politician was challenged to fulfil his claim that he could live on 53 pounds sterling a week?
Answer: Ian Duncan Smith