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Unicredit exit from Russia Alfa Bank in limbo amid sanctions

  Bloomberg UniCredit SpA is facing a delay in the long-planned sale of a stake in the owner of a Russian bank, in a sign of the complications in store for Chief Executive Officer Andrea Orcel as he considers a wholesale retreat from the country. UniCredit in November exercised an option to sell its 10% in ABH Holdings, the owner ...

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Bank of France sees uncertainty as growth slows

  Bloomberg France’s central bank said the war in Ukraine is already affecting the economy and creating high uncertainty that makes it tricky to forecast how much inflation will accelerate or the extent to which the recovery from the Covid pandemic will slow. Instead of publishing its regular economic projections, the Bank of France took the unprecedented step of presenting ...

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Slim’s bank to extend market-beating rally

  Bloomberg Mexico’s best performing stock this year, Grupo Financiero Inbursa SAB, is set to go even higher as the bank prepares to spin off its private equity business and could even make a bid for Citigroup Inc’s local assets, according to a Barclays analyst. Gilberto Garcia raised his price target for Inbursa, which belongs to Mexican billionaire Carlos Slim, ...

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Slow out of the driveway, fast on the road

Bloomberg It took people 15 minutes to get out of the driveway with the 2022 McLaren 765LT Spider. And that was after the ear-splitting chaos of setting off the car alarm opening one of its winged doors because we had left the key inside the garage. The driveway meets the road with a subtle divot that belies its precarious nature. ...

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Google lands first subsea cable in Africa to spur digital access

  Bloomberg Google landed a submarine cable in Togo, the first nation in West Africa to introduce commercial fifth-generation mobile services. The Equiano subsea internet cable, part of Google’s $1 billion program to build digital capacity on the continent, was connected to the nation of 8 million people. The conduit will land in Nigeria, Namibia and South Africa later this ...

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Europe car sales hit record low in February

  Bloomberg Car sales in the European Union skidded to the lowest on record for February, as manufacturers brace for more disruption to output from supply-chain issues exacerbated by war in Ukraine. New-vehicle registrations in the EU fall 6.7% to less than 720,000 for the month, the European Automobile Manufacturers’ Association said. When including the UK and free-trade association countries, ...

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Oil pares gain near $104 to end another volatile week

  Bloomberg Oil pared gains after the biggest daily surge in 16 months pushed prices back above $100 a barrel. Futures in New York were trading near $104 a barrel after jumping 8.4%. Crude has whipsawed this week on conflicting news about progress in peace negotiations between Russia and Ukraine. The International Energy Agency (IEA) said on Friday that prices ...

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Sheikh Mohamed, Greek PM discuss bilateral ties

  Abu Dhabi / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Kyriakos Mitsotakis, Prime Minister of Greece, discussed on Friday by phone the friendship and strategic partnership relations that bind the two countries and means to further develop them in various fields. During ...

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Dubai’s week-long realty deals reach AED9.3bn

  DUBAI / WAM The real estate and properties transactions valued at AED 9.3 billion in total during the week ending March 18, according to the Dubai Land Department (DLD). The weekly DLD report said the sum of transactions was 2,400. 355 plots were sold for AED1.33 billion, 1,547 apartments and villas were sold for AED 2.96billion. The top three ...

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