March, 2023

• 2 March

  Sweden’s housing slump enters second year with no end in sight

  

  BLOOMBERG Swedish home prices have yet to hit a bottom as one of the world’s most severe housing routs is about to enter its second year. Soaring consumer prices and a string of interest-rate increases have dealt a heavy blow to the Swedish economy, which is particularly sensitive to rising borrowing costs. The country’s households have some of the highest ...

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• 2 March

  Tesla investor day disappoints with little detail on new models

  

  BLOOMBERG Elon Musk’s latest master plan for Tesla Inc fell flat as the electric-car maker shared scant details about next-generation models that will underpin its next phase of growth. The almost four-hour presentation was long on calculations of what the sustainable energy transition will require, along with boasts about manufacturing and engineering efficiencies. But Musk and the executives who joined ...

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• 2 March

  Stocks decline as market absorbs bets on rising rates

  

  BLOOMBERG Stock markets worldwide extended losses on Thursday, as US 10-year Treasury bonds topped 4% for the first time since November in a sign that the Federal Reserve’s warnings of higher-for-longer interest rates are finally sinking in. Europe’s Stoxx 600 equity index retreated 0.5%, having fallen to three-week lows as hotter-than-forecast German inflation data pushed money markets to bet on ...

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• 2 March

  Adani stocks extend rebound amid series of block trades

  

  BLOOMBERG Shares of Adani group companies climbed on Thursday as block trades in some of the conglomerate’s stocks suggested institutional investors were buying after a prolonged rout. Flagship Adani Enterprises Ltd. erased an early loss of 10% as 36.8 million shares, equalling 3.2% of its equity, changed hands in two block trades. A series of block deals also punctuated early ...

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• 1 March

  Investopia ‘Marketplace’ to position UAE as leading investment destination

  

  DUBAI / WAM Investopia 2023 announced the launch of its newly innovative investment platform “Marketplace”, with the aim of enhancing the UAE attractiveness to foreign investments in various economic and commercial sectors, in particular the new economy sectors, and with the aim to position the UAE as a leading investment destination on the regional and global level. The launch will ...

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• 1 March

  UAE, Malta keen to boost relations in key sectors

  

  ABU DHABI / WAM The first political consultation committee between the UAE Ministry of Foreign Affairs and International Cooperation (MoFAIC) and the Ministry for Foreign and European Affairs and Trade of the Republic of Malta took place virtually. The meeting was chaired by ambassador Lana Zaki Nusseibeh, Assistant Minister of Foreign Affairs and International Cooperation for Political Affairs and Permanent ...

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• 1 March

  Oil reverses gains as traders see central banks staying hawkish

  

  BLOOMBERG Oil dipped after hot inflation data led traders to anticipate that central bankers are likely to stay hawkish for the coming months, offsetting hopes for higher demand from Asia. West Texas Intermediate dropped below $76.50, reversing earlier reached gains after China and India released strong manufacturing and oil-sales data. Crude has weakened this year as the prospect of tighter ...

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• 1 March

  UAE banks’ investments reach AED528bn in December 2022

  

  ABU DHABI / WAM The Central Bank of the UAE has released figures showing that the total investments of banks operating in the country reached a historic high of AED528 billion at the end of December 2022. This represents an 11.5% annual increase or AED54.5 billion compared to the same period in the previous year, when total investments were AED473.2 ...

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• 1 March

  Expanded US access in Philippines draws pushback from lawmakers

  

  BLOOMBERG The plan for greater US military access in the Philippines has drawn opposition from politicians who raised concerns the Southeast Asian nation might be embroiled if tensions with China over Taiwan escalate. Senator Imee Marcos, the president’s sister, said the move to allow American troops in more Philippine sites is geared at bolstering the US’ possible defense of Taiwan ...

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• 1 March

  Finland sets seal on Nato entry to revive stalled bid

  

  BLOOMBERG Finland’s parliament ratified Nato’s treaties as the Nordic nation prepares to join the defense alliance, seeking to put momentum back in the bloc’s enlargement. Nine months after Finland submitted its application for membership in the North Atlantic Treaty Organisation (Nato) simultaneously with neighbouring Sweden, lawmakers in Helsinki on Wednesday signed off on the paperwork, voting 184 in favour of ...

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