March, 2023

• 14 March

  Bitcoin jumps most in almost a month

  

  BLOOMBERG Bitcoin surged 13%, the biggest one-day increase since the wild price swings seen during November’s market turmoil, and shares of crypto companies rallied following moves by US authorities to stem the spread of concern about the health of the nation’s financial system. The rally helped to extend the largest cryptocurrency’s recovery from its worst week in about four months, ...

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• 14 March

  Reem Hills: Q Holding, NPC ink AED470mn infrastructure deal

  

  ABU DHABI / GULF TIME Q Holding announces a contract with National Project Construction (NPC), a subsidiary of Trojan Construction Group, worth AED470 million, has been signed for the infrastructure and road development of Reem Hills Phase 1 on Al Reem Island. NPC will manage the efficient, world-class implementation and delivery of the power, water, sewerage, telecommunication and gas networks ...

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• 14 March

  Achieve your dreams of parenthood with Orchid Fertility Clinic

  

  DUBAI / GULF TIME When considering having a baby, most of us will unthinkingly assume that we can, however for many women it can prove more difficult to conceive and for some, seemingly impossible. This is a heart-breaking prospect and one that can become all-consuming. Orchid Fertility Clinic in Dubai have helped numerous couples achieve their dream of parenthood thanks ...

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• 13 March

  Etisalat completes region’s first 5G network trial in UAE

  

  ABU DHABI / WAM etisalat by e& UAE on Monday announced the successful trial of 5G network capability covering multiple locations for an oil & gas corporation with the highest standard of data security and digitalisation over a mobile network capable of delivering large amounts of data reliably. The trial aimed at addressing a requirement of the oil & gas ...

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• 13 March

  New York-based Kyndryl joins UAE ministry’s NextGenFDI Programme

  

  ABU DHABI / WAM Kyndryl, the world’s largest IT infrastructure services provider, has joined the UAE Ministry of Economy’s NextGenFDI Programme, which aims to attract digitally enabled businesses from all over the world and provide them with the necessary market entry fundamentals to launch and scale their operations within the UAE. The news follows the recent announcement in February that ...

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• 13 March

  Borouge OKs final dividend of $650 million for 2022

  

  ABU DHABI / WAM Borouge, a leading petrochemical company that specialises in innovative and distinctive polyolefin solutions, held its inaugural Annual General Meeting (AGM) on Monday. Shareholders voted to approve a final dividend of $650 million for the fiscal year 2022, approximately 7.9 fils per share, which brings the total post-IPO dividend paid (June-December 2022) for the year to $975 ...

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• 13 March

  UAE enhancing leading position in gender balance: World Bank

  

  ABU DHABI / WAM Iva Hamel, the World Bank Representative in the UAE, has praised the UAE for being the most progressive country in the Middle East and North Africa in terms of women’s empowerment. She commended the UAE’s commitment to supporting women’s role in the community and increasing their economic opportunities. In her statement to WAM, Hamel said that, ...

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• 13 March

  Adnoc Gas gains AED33.8bn on first day after IPO at ADX

  

  ABU DHABI / WAM Adnoc Gas stocks increased their gains and capital profits to more than AED33.8 billion on the first day of trading after the company’s initial public offering (IPO) at the Abu Dhabi Securities Exchange (ADX). The company’s market capital rose from AED181.9 billion to AED215.6 billion by the end of Monday’s trading session, closing at AED2.81 per ...

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• 13 March

  Russia remains India’s main arms supplier

  

  BLOOMBERG Russia remains India’s main source of weapons even as the nation has drastically trimmed purchases, highlighting the challenge for Prime Minister Narendra Modi of recalibrating New Delhi’s dependence on Moscow, while its borders with both China and Pakistan remain tense. Russian weapon imports dropped by 19% for the five year period starting 2018 compared to a similar time frame ...

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• 13 March

  Xi urges focus on security amid simmering US tensions

  

  BLOOMBERG Xi Jinping started an unprecedented third term as China’s president with fresh vows to ensure stability and strengthen party leadership, as he faces a future of slower growth and greater confrontation with the US. “Security is the foundation for development, and stability is the precondition for prosperity,” Xi said on Monday to close out the annual National People’s Congress ...

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