March, 2023

• 30 March

  Porsche wins ruling in Stuttgart investor suit

  

  BLOOMBERG Porsche Automobil Holding SE won a crucial ruling in a €900 million ($976 million) class-action style lawsuit from investors who claimed the company should have warned shareholders about the diesel-emission software rigging at Volkswagen AG. The Stuttgart Higher Regional Court said the company didn’t fail to inform markets about the use of a defeat device at Volkswagen long before ...

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• 30 March

  Google’s India antitrust fine stays, with some concessions

  

  BLOOMBERG An India appeals court upheld a fine of about $160 million slapped on Alphabet Inc’s Google by the country’s antitrust regulator, amid growing scrutiny over the company’s ambition to expand the global reach of its Android mobile operating system. Yet in a relief for Google, the court allowed some concessions to corrective measures the antitrust regulator had sought. The ...

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• 30 March

  UAE President issues Emiri decree restructuring Abu Dhabi Executive Council

  

  ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, in his capacity as Ruler of Abu Dhabi, has issued an Emiri decree restructuring the Executive Council of Abu Dhabi under the chairmanship of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi. The decree stipulates the ...

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• 30 March

  Adnoc L&S unveils integrated logistics services platform

  

  ABU DHABI / WAM Adnoc Logistics & Services (Adnoc L&S) has unveiled its Integrated Logistics Services Platform (ILSP), one of the largest turnkey offshore logistics offerings in the world that enables coordinated end-to-end management of logistics and maritime operations at its base in Mussafah, Abu Dhabi. As part of the launch of the ILSP project, Adnoc L&S confirms that it ...

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• 30 March

  UAE President appoints Sheikh Mansour as UAE Vice President, Sheikh Khaled as Abu Dhabi Crown Prince

  

  ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, has issued resolutions, with the approval of the UAE Federal Supreme Council, to appoint His Highness Sheikh Mansour Bin Zayed Al Nahyan, Deputy Prime Minister of the United Arab Emirates and Minister of Presidential Court, as UAE Vice President, alongside His Highness Mohammed Bin ...

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• 30 March

  UAE President, VP attend honouring ceremony of Nafis Award winners

  

  ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Presidential Court and Chairman of the Board of Directors of the ...

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• 30 March

  Saif bin Zayed attends Majlis Mohamed bin Zayed lecture exploring technology and future trends

  

  ABU DHABI / WAM HH Lt General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior, attended a lecture organised by Majlis Mohamed bin Zayed, titled “Technology & Future Trends: How to Think like a Futurist”, at the Sheikh Zayed Grand Mosque in Abu Dhabi. The lecture was also attended by HH Sheikh Abdullah bin ...

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• 30 March

  Nigeria dispenses banknotes to end cash crunch

  

  BLOOMBERG Nigeria’s central bank increased the supply of banknotes to lenders to end shortages that have hampered individual and business transactions and crippled the cash-based economy since January. Most lenders including United Bank for Africa Plc Zenith Bank Plc and FBN Holdings Plc called in staff to help customers access cash in banks or via automated teller machines (ATMs). The ...

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• 30 March

  HSBC’s Shaw says acquisition of SVB UK made ‘great sense’

  

  BLOOMBERG HSBC Holdings Plc’s acquisition of Silicon Valley Bank’s UK arm made “great sense” from a business perspective and had nothing to do with pressure from regulators, according to Antony Shaw, chief executive officer of the bank’s Australia unit. “It’s an opportunity that doesn’t come along very often,” Shaw said via video from Hong Kong at an AFR banking summit. ...

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• 30 March

  Banks in France facing $1.1bn fines after raids

  

  BLOOMBERG French banks including Societe Generale SA and BNP Paribas SA face collective fines of more than 1 billion euros ($1.1 billion) as part of a probe into tax fraud and money laundering related to dividend payments. HSBC Holdings Plc, Natixis SA and BNP’s Exane unit are also part of the investigation, according to the prosecutors’ office in Paris, which ...

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