March, 2023

• 28 March

  Adani stocks drop on report group seeks more time to pay loans

  

  BLOOMBERG Adani Group stocks slumped on Tuesday as local media reports sparked renewed concerns over the ports-to-power conglomerate’s ability to repay its debt. Adani Ports & Special Economic Zone Ltd fell 5.7% to close at 593.40 rupees — lower than the price GQG Partners paid to buy a stake earlier this month — after plummeting more than 9% earlier in ...

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• 28 March

  Futures, European stocks waver with banks in focus

  

  BLOOMBERG US futures and European stocks struggled for direction as investors awaited data for clues on monetary policy and assessed developments in the banking sector. Treasuries fell. Contracts on the S&P 500 were little changed, while those on the Nasdaq 100 dropped. European equities erased earlier gains as French lenders fell on news the country’s financial prosecutor is searching five ...

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• 28 March

  Markets are testing banks for weakness: BOE

  

  BLOOMBERG  Bank of England (BOE) Governor Andrew Bailey said global markets are testing “quite a lot” of the banking sector for any signs of trouble after the failure of Silicon Valley Bank (SVB) and the rescue of Credit Suisse Group AG. While the UK banking system remains in a “very strong position,” Bailey said the past weeks brought “moves in ...

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• 28 March

  UAE President receives, exchanges Ramadan greetings with Rulers of the Emirates and Sheikhs at Qasr Al Watan

  

  ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan received Their Highnesses the Supreme Council Members, Rulers of the Emirates at Qasr Al Watan Palace and exchanged with them the Ramadan greetings on Monday. They prayed to Allah Almighty to perpetuate the blessings of security and stability, and to revisit the fasting month with more ...

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• 28 March

  UAE President, VP receive progress update on preparations to host COP28

  

  ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, were briefed on the latest preparations for hosting COP28, in the presence of members of the Higher Committee overseeing the planning. HH Sheikh Mohamed bin Zayed said: “Since its ...

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• 27 March

  UAE participates in signing event of Regional Framework for Arab States

  

  CAIRO / WAM The UAE participated in the signing ceremony of the Regional Framework Programme for the Arab Countries (2023-2028), and the launch of the Arab Plan for Prevention and Reduction of Drug Dangers to Arab Society, which was held at the headquarters of the General Secretariat of the League of Arab States. Mariam Al Kaabi, UAE ambassador to the ...

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• 27 March

  Abu Dhabi Sports Council signs pact to host IMGA Masters Games in 2026

  

  ABU DHABI / WAM In the presence of HH Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council, Abu Dhabi Sports Council and International Masters Games Association have signed an agreement to bring the world’s largest mass participation sporting event, the IMGA Masters Games, to Abu Dhabi. To be held in the Middle East ...

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• 27 March

  Adnoc signs deal for ammonia value chain

  

  ABU DHABI / WAM Adnoc announced on Monday that it will explore opportunities to support the climate-neutral transformation of industry through the creation of a low-carbon ammonia value chain with state government and industry representatives in Germany’s North Rhine-Westphalia. The announcement was made following the signing of a memorandum of understanding (MoU) between the government of North Rhine-Westphalia, Adnoc, and ...

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• 27 March

  UAE’s Al Ansari Financial Services raises AED773 million in offering

  

  DUBAI / WAM Al Ansari Financial Services on Monday announced it has set the final offer price for its IPO at AED1.03 per share, at the top of the previously announced price range. The announcement follows the completion of the book building and subscription process for its initial public offering (IPO). Al Ansari raised, through the initial public offering, AED773 ...

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• 27 March

  Middle East airport developments entails $151b in capital expenditure

  

  ABU DHABI / WAM After most of the multi-billion dollar airport construction projects were put on the back burner or temporarily curtailed over the past three years, operators and investors have been racing down the tarmac as the Middle East and Asia-Pacific regions are expected to account for 58% of the global air passenger demand in 2040. The Capa – ...

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