March, 2016

• 30 March

  DP World generates AED5.3bn cash flow in 2015

  

  Dubai / WAM DP World generated a cash flow of $1.43 billion (AED 5.3 billion) as at December 31, 2015, in spite of the global economic slowdown and world trade slump. The strong cash generation is due to the Group’s ambitious expansion plan and growth of its portfolio of global terminals and business volumes, particularly in Mumbai in India and ...

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• 30 March

  MBRSC to assist DP World in remote sensing

  

  Dubai / WAM Mohammed bin Rashid Space Centre (MBRSC) signed a Memorandum of Understanding with DP World, aimed at developing an organizational framework on means of cooperation and coordination, and the exchange of information, scientific data and expertise, and human resources consistent with the UAE’s strategy and public interest. According to the MoU, MBRSC will assess and provide current and ...

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• 30 March

  Global Internet of Things leaders hail Dubai’s Smart City progress

  

  Dubai / WAM A gathering of global technology leaders at this week’s Internet of Things Expo (IoTX) at Dubai World Trade Centre (DWTC) believe a combination of hyper connectivity, supercomputing, cloud computing, smart technologies and cyber security will make the Internet of Things (IoT) sector the single largest market opportunity for global businesses by the turn of the decade. “IoT ...

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• 30 March

  Tata plan to sell Britain unit deepens UK’s steel crisis

  

  Bloomberg Tata Steel Ltd., part of India’s biggest conglomerate, said a slump in global prices has forced it to consider selling its U.K. business, a decision that threatens to accelerate the demise of Britain’s steel industry. Global oversupply, high manufacturing costs and rising steel exports mean trading conditions in the U.K. and Europe have “rapidly deteriorated,” Mumbai-based Tata Steel said ...

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• 30 March

  Russia mulls raising dividends of state companies to 50%

  

  Bloomberg Russia is nearing a decision to double dividends paid by state-owned companies on last year’s profit as the government struggles to cover a widening budget deficit, according to an official at the Federal Property Management Agency. A draft decree on the proposal to raise the payout to a minimum of 50 percent of net income from 25 percent has ...

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• 30 March

  Norway unemployment jumps to highest since 2005 amid oil drop

  

  Bloomberg Norway’s unemployment rate jumped to the highest in more than a decade as a slump in oil prices weighs on an expansion in western Europe’s biggest crude producer. The surveyed unemployment rate jumped to 4.8 percent in January, the highest since at least the start of 2006, from a revised 4.6 percent the previous month, according to Statistics Norway. ...

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• 30 March

  Euro-area economic confidence falls to lowest in 13 months

  BRUSSELS / BLOOMBERG Euro-area economic confidence fell to the lowest level in more than a year just as the European Central Bank deployed fresh stimulus to spur growth and quash the threat of deflation. An index of executive and consumer confidence slumped for a third month, declining to 103.0 in March from a revised 103.9 the previous month, the European ...

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• 30 March

  All ‘Brexit’ polls are wrong, but some are more wrong than others

  Bloomberg When it comes to predicting the result of Britain’s EU membership referendum, the telephone surveys showing a lead for the “Remain” side are probably closer to the mark, despite their flaws, according to a study. Polls conducted online that suggest the race is too close to call and those done by phone are all missing important data, but the ...

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• 30 March

  Syrian refugee crisis demands united global action: UN chief

  

  Geneva / AFP UN chief Ban Ki-moon on Wednesday called for greater global efforts to tackle the Syrian refugee crisis, as he opened a conference on securing resettlement places for nearly half a million of those displaced by the five-year conflict. “We are here to address the biggest refugee and displacement crisis of our time,” Ban told the conference in ...

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• 30 March

  Vietnam jails 3 women for anti-state propaganda

  Vietnam / AFP Vietnam jailed three women on Wednesday on charges of spreading anti-state propaganda after they waved the flag of the former US-backed South Vietnam regime, state media said. A court in Ho Chi Minh City found the women guilty of carrying out “propaganda against the socialist Republic of Vietnam,” the official ThanhNien newspaper reported. The trio had waved ...

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