March, 2023

• 21 March

  Europe extends car-sales growth streak as EVs gain

  

  BLOOMBERG Auto sales in Europe increased for a seventh straight month, aided by strong growth in the UK and Spain and improving supply chains. Registrations jumped 12% in February to 902,775 vehicles, the European Automobile Manufacturers’ Association said. Sales of battery-electric vehicles surged 34%, expanding more than any other type of powertrain. Shortages of semiconductors and other components are becoming ...

  Read More »
• 21 March

  All social media platforms pose TikTok-like risks, says group

  

  BLOOMBERG The national-security and mental-health risks posed by TikTok are shared by other social media platforms, according to an advocacy group that’s urging Congress to also hold US companies accountable ahead of high-profile testimony from TikTok’s chief executive officer. The Tech Oversight Project, a nonprofit, says Meta Platforms, Alphabet’s Google, Apple and Amazon.com employ the same harmful business practices as ...

  Read More »
• 21 March

  Chinese president hails ties with Russia during talks with Putin

  

  BLOOMBERG Chinese President Xi Jinping touted close ties with Russia on the second day of his state visit to Moscow on Tuesday, inviting Vladimir Putin to make a return visit later this year. “It fits the historical logic that Chinese leaders take Russia as a primary choice for their overseas visits,” Xi said, adding that China and Russia are each ...

  Read More »
• 21 March

  Japanese premier travels to Ukraine for talks with Zelenskiy

  

  BLOOMBERG Japanese Prime Minister Fumio Kishida travelled to Ukraine for talks with President Volodymyr Zelenskiy, becoming the final Group of Seven leader to visit the nation since Russia launched its invasion over a year ago. Kishida was greeted by Ukrainian officials on arrival in Kyiv on Tuesday. The Japanese premier will make clear his support for Ukraine during the visit, ...

  Read More »
• 21 March

  Macron govt dodges no-confidence votes amid unrest

  

  BLOOMBERG The French government survived two no-confidence motions late Monday to enable the immediate adoption of President Emmanuel Macron’s unpopular pension reform bill without holding a full vote in parliament. In a tighter than expected count, the first motion got 278 votes, only nine short of the 287 needed to topple Prime Minister Elisabeth Borne. The second got 94. “We ...

  Read More »
• 21 March

  ‘Parts of Sunak’s new EU deal useless’

  

  BLOOMBERG Hard-line Brexiteers in Rishi Sunak’s Conservative Party said parts of the UK prime minister’s new Brexit deal are “practically useless,” while reserving judgment on whether they’ll rebel in a vote on Wednesday. EU law will remain supreme in Northern Ireland, new trading arrangements won’t work as billed by Sunak and a proposed veto mechanism for the application of new ...

  Read More »
• 21 March

  Nordea Asset snaps up Asian financial stocks during global rout

  

  BLOOMBERG Nordea Asset Management AB bought financial stocks in Asia amid this month’s global rout in the sector, as it remains optimistic about their earnings growth prospects. |“We have added to our insurance holdings in Asia,” Hilde Jenssen, Nordea’s head of fundamental equities, said in an interview in Singapore. “It’s clear when half a trillion is wiped off in market ...

  Read More »
• 21 March

  European stocks extend gains, bonds decline as calm returns

  

  BLOOMBERG European shares rallied for a second day and US futures pointed to a firmer open for Wall Street as steps to shore up the financial system helped restore confidence. The Stoxx Europe 600 jumped as much as 1.4%, buoyed by a 3.5% jump in an index of banking shares. Futures for the S&P 500 climbed after a report that ...

  Read More »
• 21 March

  REDTAG ignites Ramadan rush, announces free gifts, vouchers, & fashionable festive wear

  

  DUBAI / GULF TIME REDTAG, the Middle East’s leading value-fashion and homeware brand, announced its Ramadan offerings, which include a new line of modest festive wear, free gifts, and vouchers. The limited-period offers will run between March 19 and April 22, bearing REDTAG’s promise of uncompromising value and embodying its time-honoured tradition of specialised offerings during Ramadan. Starting March 19, ...

  Read More »
• 21 March

  Q Holding inaugurates Al Reem Mosque on Reem Island in Abu Dhabi

  

  ABU DHABI / GULF TIME in anticipation of the forthcoming holy month of Ramadan, Q Holding, one of the UAE’s major investment and business groups, inaugurated Al Reem Mosque on Reem Island, Abu Dhabi. The mosque is part of the Group’s CSR initiative for social outreach in the emirate of Abu Dhabi, and UAE in general, serving worshippers in the ...

  Read More »