March, 2023

• 17 March

  ECB policymakers call for more interest rate hikes

  

  BLOOMBERG A trio of hawkish European Central Bank (ECB) policymakers came out in force to restate the case for hiking interest rates further, once financial-market volatility subsides. In the wake of a 50 basis-point increase accompanied by no clear signal on future moves, governors from Estonia, Lithuania, and Slovakia suggested the economy still needs another phase of tightening after global ...

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• 17 March

  Banks borrow $164.8 billion from Fed in rush to backstop liquidity

  

  BLOOMBERG Banks borrowed a combined $164.8 billion from two Federal Reserve backstop facilities in the most recent week, a sign of escalated funding strains in the aftermath of Silicon Valley Bank’s (SVB) failure. Data published by the Fed showed $152.85 billion in borrowing from the discount window  — the traditional liquidity backstop for banks — in the week ended on ...

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• 17 March

  First Republic falls as investors assess aid

  

  BLOOMBERG First Republic Bank shares fell again on Friday, set for their worst week ever, as sentiment around the lender remained fragile even after proposals for $30 billion of aid from Wall Street’s biggest banks. Shares in First Republic fell as much as 15% in US premarket trading, underperforming fellow regional banks, having already fallen by a record 60% so ...

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• 17 March

  US futures steady, bonds gain as bank angst lingers

  

  BLOOMBERG US equity-index futures were steady on Friday and Treasuries gained, capping a tumultuous week for global markets amid lingering concern that the financial turmoil which has roiled bonds and stocks is not over. Contracts on the S&P 500 fluctuated after the index rallied 1.8% as larger banks threw a lifeline to First Republic Bank, the latest US lender to ...

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• 17 March

  Short selling key for Korea’s global index goal, says bourse CEO

  

  BLOOMBERG South Korea needs to take the politically sensitive step of fully lifting curbs on stock short selling to ensure inclusion in a key global index, the head of the country’s securities exchange said. Asia’s sixth-largest equity market is seeking to be upgraded in MSCI Inc.’s equity gauge to developed status from emerging, part of efforts to revitalise the sector ...

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• 17 March

  China to let power prices turn negative in solar-rich province

  

  BLOOMBERG Power traders in China’s Shandong province can now ask to be paid for taking electricity as the province’s growing rooftop solar capacity threatens to overwhelm the grid. The province officially set the lowest price on its spot market below zero, according to a draft rule released by Shandong Development and Reform Commission. Negative prices that encourage generators to switch ...

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• 17 March

  Coal India to bolster supplies to power plants as heat waves loom

  

  BLOOMBERG Coal India Ltd., which accounts for about four-fifths of the nation’s output of the fuel, is aiming to boost supplies to power plants this summer as unusually hot weather drives electricity demand. The state-run miner is increasing coal output and building stockpiles at its mines this month to meet supply commitments, the company said. Electricity consumption is set to ...

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• 17 March

  Offshore wind farms face fresh hurdles

  

  BLOOMBERG Off the coast of New England, winds whip over the frigid Atlantic Ocean creating perfect conditions for giant offshore turbines. While plans are in place to tap that natural power to generate electricity, progress — here and around the world — is being held up by soaring inflation. As investment foundations crumble due to rising interest rates and higher ...

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• 17 March

  Tinker, imagine & create at the OliOli Atelier this Spring break!

  

  DUBAI / GULF TIME Curious minds and aspiring creators are in for a treat this Spring break with the launch of OliOli’s New Atelier – a maker space designed for tinkering, where kids can explore the concepts of electricity, light, motion and balance to build meaningful artefacts that engage both their hands and minds! Future engineers, scientists, architects and artists ...

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• 17 March

  IMG Worlds of Adventure! all set to welcome you with the Hello Spring event

  

  DUBAI / GULF TIME Spring is in the air- it’s the time to relax, refresh and recharge after the long winter! As the seasons change, so does our events. Come March, it’s a host of events buzzing in…Women’s Day, Mother’s Day, Easter and it’s time for school holidays…and Ramadan! So, whether you are looking for fun weekend activities for yourself ...

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