March, 2016

• 1 March

  Sharp faces cash crunch as Foxconn takeover ‘drags on’

  Tokyo / Bloomberg Sharp Corp. is facing a potential cash crunch at the end of this month as talks drag on with Foxconn Technology Group for a rescue deal that would inject billions of dollars in new capital into the struggling Japanese electronics maker. Sharp has 510 billion yen ($4.5 billion) in credit lines and loans that are set to ...

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• 1 March

  China manufacturing activity shrinks at fastest in 4 years

  

  Beijing / AFP Manufacturing activity in China shrank at its fastest rate in four years in February, government data showed Tuesday, a fresh sign of sustained weakness in the world’s second-largest economy. The official Purchasing Managers’ Index (PMI), which tracks activity in factories and workshops, fell to 49.0 last month, figures from the National Bureau of Statistics (NBS) showed. It ...

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• 1 March

  Thai tuna factory to pay $1.3mn compensation for labour abuses

  Bangkok / AFP A Thai tuna processing factory has agreed to pay staff $1.3 million compensation for a litany of labour abuses, an official said on Tuesday, a rare victory for migrant workers in the kingdom’s scandal-stricken seafood industry. Hundreds of Myanmar labourers at Golden Prize Tuna Canning, a processing plant in Samut Sakhon that sells fish to markets around ...

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• 1 March

  Jaitley’s tax-cheat amnesty may help repair Indian banks

  

  New Delhi / Bloomberg It’s not just taxpayers who will make Indian banks whole. Tax cheats are being pressed into service as well. State-run Indian lenders are gasping for breath, as the central bank forces them to recognize bad loans and make provisions. The 250 billion rupees ($3.7 billion) in fresh capital that Finance Minister Arun Jaitley has pledged to ...

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• 1 March

  Republicans to target Clinton aides after last e-mail drop

  

  Bloomberg The US State Department released the final batch of e-mails Hillary Clinton kept on a private server while secretary of state, ending months of piecemeal disclosure that has frustrated the Democratic presidential candidate’s campaign and subjected it to criticism from both sides of the aisle. The department published about 3,800 pages of messages from the @clintonemail.com server on Monday. ...

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• 1 March

  Clinton, Benie Sanders vie for black support

  

  Washington / AP A generation gap among black voters could be critical for Hillary Clinton and Bernie Sanders on Super Tuesday when Democrats vote in 11 states. Older black voters, a reliable primary voting bloc, are coalescing around Clinton. Millennial black voters — young adults energized by groups like Black Lives Matter — appear torn between the former secretary of ...

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• 1 March

  Clock ticking as Spanish politicians try to form govt

  

  Bloomberg Ten weeks after a general election produced an unprecedented deadlock in parliament, efforts to form a government in Spain are entering a critical phase. Socialist leader Pedro Sanchez will start the countdown to a fresh ballot when he asks lawmakers to let him lead the next government in a vote on Wednesday. The legislature will then have another two ...

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• 1 March

  North must ‘pay price’ for N-test: S Korean president

  

  Seoul / AFP North Korea must pay the price for its latest nuclear test and rocket launch, South Korean President Park Geun-Hye said on Tuesday, vowing to pressure Pyongyang into accepting denuclearisation as its only viable option for survival. In a televised speech to mark the anniversary of a key date in Korea’s struggle against Japanese colonial rule, Park said ...

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• 1 March

  RAKBANK to groom Emirati graduates for banking

  

  Abu Dhabi / Emirates Business In line with its commitment to Emiratisation and developing the local talent pool, RAKBANK has initiated its new two-year Management Associate Programme, ‘IRTIQA’, which was revealed at the Ras Al Khaimah (RAK) Employment and Training exhibition that is being held from March 1-3. As part of the new initiative, fresh Emirati graduates will be part ...

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• 1 March

  Ras Al Khaimah tourism authority reports strong start to 2016

  

  Ras Al Khaimah / Emirates Business Ras Al Khaimah Tourism Development Authority has announced an increase of 23.7 percent in occupancy across the emirate’s hotels and resorts for the month of January 2016. Figures from the industry for the first month of the year show that 2016 is off to a strong start for Ras Al Khaimah’s tourism sector with ...

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