March, 2023

• 27 March

  First Citizens agrees to buy SVB

  

  BLOOMBERG  First Citizens BancShares Inc agreed to buy Silicon Valley Bank (SVB), which was seized by regulators following a run on the lender. The bank agreed to take on all deposits and loans, a deal that includes the purchase of about $72 billion SVB assets at a discount of $16.5 billion, according to a statement from the Federal Deposit Insurance ...

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• 27 March

  Deutsche Bank London HQ sold for $315 million to Malaysian firm

  

  BLOOMBERG  Malaysian construction firm Gamuda Bhd has bought Deutsche Bank AG’s soon-to-be-vacated London office for $315 million in one of the City’s biggest property deals this year. Gamuda partnered with UK private equity firm Castleforge for the purchase of Winchester House, the company said in a statement. The buyers plan to refurbish the premises into a sustainable office for global ...

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• 27 March

  BOE governor says global banks more robust than in 2008

  

  BLOOMBERG  Bank of England (BOE) Governor Andrew Bailey said the global banking system is more robust and better capitalised than in was in 2008, making a repeat of the crisis more than a decade ago unlikely. “We’ve learned a lot of lessons in the financial crisis,” Bailey said in a pooled clip for broadcasters. “Of course we keep learning lessons. ...

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• 27 March

  Dubai Police to promote maritime safety, security

  

  DUBAI / GULF TIME Dubai Police announced its collaboration with Informa Markets to support the upcoming Seatrade Maritime Logistics Middle East (SMLME) event. Held under the patronage of the UAE Ministry of Energy and Infrastructure, the leading maritime and logistics event in the region is scheduled to take place on May 16-18, at the Dubai World Trade Centre. Dubai Police ...

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• 27 March

  Putin’s Belarus N-move puts him at odds with China pledge

  

  BLOOMBERG While Russian President Vladimir Putin’s plan to station nuclear weapons in neighbouring Belarus is unlikely to change Europe’s strategic balance, it has put him at odds with a pledge he made with Chinese counterpart Xi Jinping just days earlier. Russia and China declared that “all nuclear weapons states should refrain from deploying nuclear weapons abroad” in a joint statement ...

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• 27 March

  North Korea fires two ballistic missiles, piling more pressure on US

  

  BLOOMBERG North Korea test-launched two short-range ballistic missiles, adding to its barrage in recent weeks as Pyongyang protests joint military exercises by the US and South Korea. The missiles were fired starting about 7:47 am local time from the Chunghwa area just south of Pyongyang, South Korea’s Joint Chiefs of Staff said in a text message. The missiles were launched ...

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• 27 March

  Ukraine visit buoys Japan premier before local elections

  

  BLOOMBERG Japanese Prime Minister Fumio Kishida received a much-sought rise in his support rate after a trip to Ukraine met with broad approval from the public ahead of a series of local and special elections. A survey by the Nikkei newspaper and TV Tokyo conducted March 24-26 found 48% of respondents said they supported Kishida’s cabinet, up five percentage points ...

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• 27 March

  Nigeria’s ruling party sweeps parliament

  

  BLOOMBERG Nigeria’s ruling party looks set to retain its dominance of the country’s political offices after elections held in recent weeks. Besides winning the presidency, the All Progressives Congress (APC) kept majorities in the Senate and among state governors. The party also secured the most seats in the House of Representatives. While the runners-up in the presidential race — Atiku ...

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• 27 March

  Macron loses voters to far-right over pensions

  

  BLOOMBERG Marine Le Pen’s far-right party is biggest beneficiary of French discontent over President Emmanuel Macron’s decision to push through an increase in the retirement age, according to a survey by pollster Ifop for Le Journal du Dimanche newspaper. If legislative elections were to take place on April 2, 26% of the 1,094 adults interviewed via the Internet March 20-21 ...

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• 27 March

  US futures, European stocks rise as banks rally; Treasuries drop

  

  BLOOMBERG US futures rose with European stocks as the prospect of further support from US authorities eased some concerns over the troubled regional banking sector. Contracts on the S&P 500 rose about 0.3%. First Republic Bank shares jumped 34%, leading regional peers higher, after Bloomberg reported that US authorities are considering expanding an emergency lending facility that would give the ...

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