March, 2023

• 8 March

  M23 rebels agree to ceasefire in Congo

  

  BLOOMBERG The M23 rebel group clashed with Democratic Republic of Congo soldiers, defying a ceasefire that was meant to go into effect on March 7, according to the United Nations. “The secretary-general reiterates his call on the M23 to respect the ceasefire to create conditions for its full and effective withdrawal from all occupied areas,” Farhan Haq, deputy spokesman, said ...

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• 8 March

  UK PM Sunak to meet Biden, Albanese for top-level meeting

  

  BLOOMBERG UK Prime Minister Rishi Sunak will travel to the US next week to meet President Joe Biden and his Australian counterpart Anthony Albanese for a top-level meeting of the so-called Aukus allies. Sunak will be in the US, where he will meet the US and Australian leaders, his spokesman Max Blain told reporters. Talks are expected to focus on ...

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• 8 March

  Sri Lanka’s rupee to reverse gains, plummet 20%: Fitch

  

  BLOOMBERG  Sri Lanka’s rupee, which became the world’s best performing currency this year amid hopes of an International Monetary Fund (IMF) bailout, may resume declines and lose a fifth of its value against the dollar by end-2023, according to Fitch Solutions. “We are optimistic that Sri Lanka will be able to secure an IMF board approval by early 2Q 2023,” ...

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• 8 March

  Credit Suisse gets licenses in China to build ‘wealth unit’

  

  BLOOMBERG  Credit Suisse Group AG has obtained licenses allowing it to launch its wealth management business in China in the first half of this year as well as expand its securities trading and research activities onshore. The bank received its investment consultancy, proprietary trading and nationwide brokerage licenses, according to an internal memo. A spokeswoman for the bank confirmed the ...

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• 8 March

  ECB rate-hike spat ramps up as Visco slams hawkish colleagues

  

  BLOOMBERG  Ignazio Visco openly criticised hawkish European Central Bank (ECB) colleagues for making statements about future increases in borrowing costs when officials had agreed not to give such guidance. The outburst by the Bank of Italy governor, in added remarks at the end of a speech in Rome, is a pointed public attack that hints at rising tensions behind closed ...

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• 8 March

  Raising rates may damage weak UK economy further, says BOE

  

  BLOOMBERG  Bank of England (BOE) policy maker Swati Dhingra cautioned against raising interest rates further, saying that doing so could damage an already weak UK economy. The newest official on the central bank’s nine-member Monetary Policy Committee (MPC) said it would be prudent to hold borrowing costs steady for now and noted there’s little evidence of an inflationary spiral. “Overtightening ...

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• 8 March

  Jafza records 30% rise in new customer registrations in ’22

  

  DUBAI / WAM DP World’s Jebel Ali Free Zone (Jafza) witnessed the highest customer registrations in a decade, marking a 30 percent year-on-year growth, and taking the total number of companies to over 9,500 in 2022. The free zone has created unparalleled opportunities in a variety of sectors through end-to-end logistics solutions, digital trade platforms and access to DP World’s ...

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• 8 March

  SZHP reveals first batch of beneficiaries of home loans, grants for 2023

  

  ABU DHABI / WAM Sheikh Zayed Housing Programme (SZHP), an initiative under the Ministry of Energy and Infrastructure (MoEI), on Wednesday announced the first batch of beneficiaries of housing loans and grants for 2023. As part of the new policy announced in May 2022, the programme has issued 550 decisions worth AED435.750 million in loans and grants. This brings the ...

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• 8 March

  Abu Dhabi set to host ‘Union Fortress 9’ military parade

  

  ABU DHABI / WAM Abu Dhabi is set to host the ninth edition of the ‘Union Fortress 9’ military parade under the patronage of President His Highness Sheikh Mohamed bin Zayed Al Nahyan. The announcement came during a preparatory meeting, held under the chairmanship of Major General Ali Saif Al Kaabi, Deputy Commander of the Presidential Guard, and several Ministry ...

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• 8 March

  DP World announces first commercial use of its Boxbay system

  

  DUBAI / WAM DP World has announced the first commercial use of its revolutionary Boxbay High Bay Storage (HBS) system at South Korea’s Pusan container terminal, which is world’s sixth-largest container port. This pioneering technology has put Dubai in the spotlight globally as DP World, a leading provider of smart end-to-end supply chain logistics, continues to adopt innovative ways to ...

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