March, 2023

• 19 March

  Credit Suisse’s First Boston plan in doubt amid crisis discussion

  

  BLOOMBERG Michael Klein, the CEO-designate of Credit Suisse Group AG’s investment-banking spin off, may struggle to realise his dream of building a new CS First Boston as the Swiss lender nears a forced sale to UBS Group AG. UBS is showing little appetite for Credit Suisse’s investment banking business as part of a government-brokered takeover, putting plans to legally and ...

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• 19 March

  Google unveils AI features for cloud customers

  

  BLOOMBERG Google announced a raft of new artificial intelligence (AI) – powered features for customers of its cloud-computing business, as the technology giant jostles for dominance in the burgeoning field with rivals such as Microsoft Corp. and startup OpenAI. As Silicon Valley buzzes about so-called generative AI — software that can create images, text and video based on user prompts ...

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• 19 March

  Audi CEO seeks to catch up in China in test of Germany’s grit

  

  BLOOMBERG Markus Duesmann, the chief executive officer (CEO) of Audi, flew to China last week to tackle a problem that’s indicative of the challenges facing Germany: how to compete with its biggest trading partner on new technology. The head of the German luxury brand went to visit Audi’s Chinese joint venture (JV) partners — China FAW Group Co. and SAIC ...

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• 19 March

  Samsung joins South Korea’s $400bn bid to lead in key tech

  

  BLOOMBERG South Korea will join its largest companies including Samsung Electronics Co to pour some $422 billion into areas such as chips and electric vehicles in its most aggressive effort yet to win a heated global race for tech supremacy. The government will focus support on chips, batteries, robots, electric vehicles, displays and biotechnology in an investment plan through 2026, ...

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• 19 March

  Hind Al Oud launches new retail concept at Bawabat Al Sharq Mall

  

  ABU DHABI / GULF TIME Hind Al-Oud always surprises its guests by making them an essential part of its vision and achievements, and it loves to share those moments of success in a unique way. In normal opening events key persons only are responsible for cutting the opening ribbon in the store. For that reason, Hind Al-Oud flipped the script ...

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• 19 March

  “Woman of Universe” Grand Success – An extravaganza

  

  DUBAI / GULF TIME Dubai hosts the largest and most glorious beauty & fashion event this year at the Intercontinental Hotel, Festival City, Dubai from March 7 and the Grand Final Gala Dinner on March 11. The title of the ‘Woman of the Universe’ was given to Alyona Kononenko of Ukraine and the first runner up award was given to ...

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• 17 March

  Abu Dhabi’s Presight offering receives AED94.9bn in orders

  

  ABU DHABI / WAM / AGENCIES Presight AI Holding PLC, a G42 company, and the region’s leader in big data analytics powered by artificial intelligence (AI), announced that its Initial Public Offering (IPO) is subscribed in full. The IPO received total gross demand amounting to AED 94.9 billion ($25.8 billion) and was 136 times oversubscribed in aggregate, excluding the commitment ...

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• 17 March

  ADX reports 10 deals worth AED15.6b since 2023 start

  

  ABU DHABI / WAM The Abu Dhabi Securities Exchange (ADX) has reported the execution of 10 significant deals with a total value of over AED15.6 billion since the beginning of 2023. According to ADX data, these deals were carried out through 321.14 million shares of three listed companies, namely Al Alamiya Holding, the Multiply Group, and Ghada Holding. Among the ...

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• 17 March

  Abu Dhabi-Japan Economic Council reviews growth in investment sector

  

  TOKYO / WAM The 9th session of the Abu Dhabi-Japan Economic Council (ADJEC), held in Tokyo, has reaffirmed its commitment to further enhance partnerships and benefits from investments opportunities in Abu Dhabi and Japan. Ahmed Jasim Al Zaabi, Chairman of Abu Dhabi Department of Economic Development (Added), and Kodaira Nobuyori, President of Japan Cooperation Centre for the Middle East (JCCME), ...

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• 17 March

  Ras Al Khaimah, Austria to boost economic cooperation

  

  RAS AL KHAIMAH / WAM The Ras Al Khaimah Chamber of Commerce and Industry and the Austrian Embassy in the UAE met to discuss opportunities for economic and commercial cooperation between Ras Al Khaimah and Austria. The goal of the meeting was to explore ways to create strong bilateral partnerships that will benefit the business communities of both countries. The ...

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