March, 2023

• 27 March

  Mining tycoon in India fights to clear Vedanta’s debt

  

  BLOOMBERG For decades, Anil Agarwal cultivated a reputation as one of India’s great survivors. Starting as a scrap metal dealer, the billionaire magnate built a mining conglomerate to rival any other, weathering cash crunches, government friction and disputes with Indigenous people over expansion plans. But in recent months, Agarwal has faced one of his toughest acts yet. The tycoon’s Vedanta ...

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• 27 March

  Vietnamese electric car to ship longer-range SUVs to US in April

  

  BLOOMBERG VinFast, an electric car maker backed by Vietnam’s richest man, plans to ship its second batch of EVs to North America on April 4. The company will send 900 VF 8 standard vehicles to California and 900 to Canada, VinFast Chief Executive Officer Le Thi Thu Thuy said in a statement to Bloomberg. VinFast sent 999 VF 8 City ...

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• 27 March

  India removes tax benefit for $150b debt fund industry

  

  BLOOMBERG India’s parliament removed a tax concession for debt funds, stirring concern in the mutual fund industry that the measure would turn away investors. Holders of some bond funds will no longer be able to apply a long-term capital gains tax rate, according to a finance bill amendment. Instead, they’ll have to pay based on their own income tax rate, ...

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• 27 March

  Apple CEO stresses relations with China at Beijing event

  

  BLOOMBERG Apple Inc Chief Executive Officer Tim Cook returned to China to attend the high-profile China Development Forum to celebrate the iPhonemaker’s ties to the region even as tensions grow between Beijing and Washington. Apple and China have grown together, Cook said during an onstage discussion on technology and education at the state-sponsored showcase. He highlighted the company’s concerns about ...

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• 27 March

  Hale Education wraps up its most successful Early Admissions Cycle to date

  

  DUBAI / GULF TIME For over a decade, Hale has helped over 1,500 UAE students achieve their fullest potential through acceptances to over 175 US and Canadian universities, including all eight Ivy League universities, and secure nearly $50 million in scholarships. The Class of 2023 began the academic year with a mixed bag of emotions brimming with anxiety, anticipation, and ...

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• 27 March

  Response Plus Holding wins four Stevie Awards for innovative management in healthcare industry

  

  DUBAI / GULF TIME Response Plus Holding PJSC (RPM),  a leading healthcare provider of emergency medical services, remote healthcare services and occupational health solutions in the United Arab Emirates – received four Stevie Awards, including a GOLD Stevie Award for Innovative Management in the Healthcare Industry for organisations with 100 or more employees, in the fourth annual Middle East & ...

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• 26 March

  Sheikh Zayed Housing Programme OKs AED299mn in aid for citizens

  

  ABU DHABI / WAM The Sheikh Zayed Housing Programme (SZHP), an initiative under the Ministry of Energy and Infrastructure (MoEI), has issued 432 decisions for housing aid valued at AED298.7 million. This includes applications for house construction, completion, purchase, maintenance, and upgrade. The move is part of the Initiatives of the UAE President and is pursuant to the order of ...

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• 26 March

  Aramco, its Chinese partners sign deals to build refinery

  

  BEIJING / WAM / AGENCIES Saudi Arabia’s Aramco expressed its intention to be an all-inclusive source of energy and chemicals for China’s long-term energy security and China’s high- quality development. Amin H Nasser, Aramco President and CEO, told the China Development Forum 2023 that the company is doubling down on China’s energy supply, including new lower carbon products; chemicals; and ...

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• 26 March

  DP World investments hit AED37.3bn since 2012

  

  DUBAI / WAM DP World has invested more than $10 billion (AED37.3 billion) in the global logistics sector since 2012, making it one of the top five overseas investors in this period, according to the latest foreign direct investment (FDI) data released by leading industry consultants. The FT’s FDI Intelligence recently published its top five list for 2022, which ranks ...

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• 26 March

  UAE’s minister urges investment and action for water sustainability at UN

  

  DUBAI / WAM Mariam bint Mohammed Almheiri, the Minister of Climate Change and Environment, emphasised the importance of collaboration, data sharing and investment in achieving global solutions for promoting water sustainability in an interactive dialogue and side sessions at the United Nations in New York. The UN 2023 Water Conference brought together global leaders and experts to identify innovative solutions ...

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