March, 2016

• 27 March

  Brazil unemployment at its highest since 2012

  

  Sao Paulo / AP Unemployment in Latin America’s largest country is at its highest level since 2012, the Brazilian government said on Thursday. The country’s IBGE statistics bureau said that the jobless rate in the three months through January was 9.5 percent, compared to the 6.8 percent posted in the same period one year ago. The number of people out ...

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• 27 March

  Newest Tesla electric will aim at middle market

  

  New York / AFP Tesla is set to unveil the Model 3, its long-anticipated pitch to middle class drivers and a key component in founder Elon Musk’s vision to mainstream the electric car. Tesla Motors, until now a purveyor of luxurious all-electric cars with equally luxurious price-tags, plans to sell the Model 3 for $35,000, half the base price of ...

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• 27 March

  Marking 10th anniv feat, Cityscape Abu Dhabi looks to bright future

  

  Emirates Business Property experts, government authorities and real estate developers from the Middle East are reflecting on the last decade of development in the UAE capital as Cityscape Abu Dhabi marks its 10th anniversary edition next month. For the past decade Cityscape Abu Dhabi has gathered industry experts, developers, investors and government officials that have contributed to the development of ...

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• 27 March

  Mobility spending in META to hit $185bn

  

  ALKESH Sharma / Emirates Business Enthused by the huge capital inflow and enhanced shopper expenditure on mobile devices, software, and related services; the annual spending on mobility across the Middle East, Turkey, and Africa (META) region is expected to reach the whopping mark of $185 billion by 2019. This constitutes a 10.2 percent share of worldwide enterprises and individual consumer ...

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• 27 March

  Global survey votes UAE bank ‘best’ for super-affluent

  

  Ritika Sharma / Emirates Business A land of opportunities and wealth, the UAE has capable financial institutions too, which can manage its fortune. Mashreq, one of UAE’s leading financial institutions, was selected ‘Best Private Bank for Super Affluent Clients in the UAE’ in the prestigious Euromoney’s 13th annual private banking survey for 2016. Euromoney’s Private Banking Survey provides an annual ...

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• 27 March

  Young entrepreneurs to pitch start-up concepts at tech week

  

  Ritika Sharma / Emirates Business Dubai is all set to host a one-of-its-kind start-up showdown, as region’s young entrepreneurs will pitch unique start-up concepts conceived to solve the greatest technology challenges of today’s world. Handpicked by an esteemed panel of distinguished technology industry experts, business gurus and SME accelerators, the contestants will compete for cash prize of AED50,000 during the ...

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• 27 March

  Chocolate tourism: Belgians fear attacks will hurt industry

  

  Brussels / AP At the aptly named Planete Chocolat, the shelves are laden with enticing Easter treasures for shoppers: bunnies with bows, pastel-wrapped eggs and elegant boxes of pralines. Swannee Vranckx, a clerk at the shop near Brussels’ main square, said she would normally have seen 50 to 100 customers by midafternoon in the days before one of the biggest ...

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• 27 March

  Britain plans cuts to border force budget, labour opposition says

  

  Bloomberg Britain’s opposition Labour party said the government is planning to cut its border force budget by 6 percent in each of the next two years, citing “whistleblowers” within the agency that it didn’t identify. The reduction would result in 88 million pounds ($124 million) of cuts during that span, Labour said on its website on Saturday. Border Force staff ...

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• 27 March

  Terror wave adds to fears for fragile Turkish tourist-dependent economy

  

  Istanbul / AFP Six suicide attacks in eight months and a spat with Russia have added to concerns for the Turkish economy as tourists flee, taking billions of dollars in spending elsewhere, and foreign investors skirt the troubled country. Days after a suspected IS extremist blew himself up on a top shopping street in Istanbul, hotels, restaurants and retailers in ...

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• 27 March

  Syrian troops drive IS militants out of historic city of Palmyra

  

  Damascus / AP Syrian government forces backed by Russian airstrikes drove IS fighters from Palmyra on Sunday, ending the group’s reign of terror over a town whose famed 2,000-year-old ruins once drew tens of thousands of visitors each year. Government forces had been on the offensive for nearly three weeks to try to retake the central town, known among Syrians ...

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