April, 2023

• 11 April

  UAE unveils initiative to boost sustainable development

  

  ABU DHABI / WAM The Environment Agency – Abu Dhabi (EAD) has introduced the Strategic Environmental Assessment (SEA) planning programme in line with UAE’s Year of Sustainability. The SEA programme will aid in evaluating environmental impacts and guiding the investigation of alternatives and potential mitigation and monitoring efforts associated with strategic projects, plans, and development programmes. The programme will promote ...

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• 11 April

  Mansour bin Zayed Al Nahyan Global Arabian Horse Flat Racing Festival comprises 152 races

  

  ABU DHABI / WAM Lara Sawaya, Executive Director of the HH Sheikh Mansour bin Zayed Al Nahyan Global Arabian Horse Flat Racing Festival, affirmed that the 15th edition of the festival will comprise a total of 152 races. The new edition of the festival is taking place in implementation of the directives of His Highness Sheikh Mansour bin Zayed Al ...

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• 10 April

  Car price cuts in China intensify amid heated price war

  

  BLOOMBERG Anyone shopping for a new car in China is in the right place at the right time. The world’s largest auto market is in the midst of a heated price war, and the situation is only intensifying. In the first quarter, a total of 649 variants of passenger cars, or around 20% of all vehicles on the market, saw ...

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• 10 April

  India to get below-average monsoon in risk to economy

  

  BLOOMBERG India will likely see below-normal monsoon rain this year, according to a private forecaster, a prospect that could hurt its vast agriculture sector and stoke inflation in Asia’s third-biggest economy. The coming season may bring only 94% of the rain India usually gets from June to September, Skymet Weather Services Pvt said. A lack of rain spells trouble for ...

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• 10 April

  TSMC’s sales miss for second straight quarter

  

  BLOOMBERG Taiwan Semiconductor Manufacturing Co (TSMC) missed sales estimates for the second consecutive quarter in a sign of continued weakness in global electronics demand. First-quarter revenue at the world’s biggest contract manufacturer of chips was NT$508.6 billion ($16.7 billion), according to Bloomberg calculations, falling shy of average analyst forecasts of NT$525.5 billion. A sharp slowdown in March contributed to that ...

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• 10 April

  China’s SenseTime unfurls latest challenger to ChatGPT

  

  BLOOMBERG SenseTime Group Inc showed off a suite of new artificial-intelligence (AI) services developed with the company’s access to vast troves of data and deep computing power, including the latest Chinese challenger to AI phenom ChatGPT. Chief Executive Officer Xu Li took the stage to demonstrate the large AI model SenseNova and a user-facing chatbot called SenseChat. Xu, with help ...

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• 10 April

  ‘Europe must develop its own autonomy’

  

  BLOOMBERG Emmanuel Macron urged Europe to develop more strategic autonomy as a way to avoid the risk of turning the European Union (EU) countries into “vassals” in the event of a global crisis such as a US-China confrontation. “Strategic autonomy must be the battle of Europe,” the French president told the business daily Les Echos during his visit to China. ...

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• 10 April

  North Korea cuts phone link with South, slamming ‘traitors’

  

  BLOOMBERG North Korea appears to be purposefully cutting a communication link with South Korea as it ratchets up tensions by testing new weapons and denouncing its neighbour as a “puppet traitor” for holding military drills with the US. South Korea’s Unification Ministry said that North Korea failed to respond for a fourth straight day to regularly held calls on an ...

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• 10 April

  US equity futures steady in light trading, Tesla declines

  

  BLOOMBERG US equity futures were little changed while Asian stocks rose in holiday-thinned trading as investors assessed the Federal Reserve’s policy path following US jobs data. S&P 500 contracts rose less than 0.1% and MSCI Inc’s Asia-Pacific equity index added 0.2%. Trading volumes were light with markets across Europe, Hong Kong and Australia closed for Easter holidays. In the US ...

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• 10 April

  Tech stocks is facing a reckoning ahead of tough earnings season

  

  BLOOMBERG This year’s 20% rally in US technology stocks is decoupling from reality ahead of what’s predicted to be a gloomy reporting season, the latest MLIV Pulse survey shows. While investors have flocked to tech in the market shakeup amid recent banking turmoil, the rotation is at odds with analyst calls for the steepest drop in quarterly profits for the ...

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