March, 2023

• 30 March

  US futures, European stocks rise as traders eye peak rates

  

  BLOOMBERG US equity futures climbed on investor bets that a peak in interest rates is near and bank turmoil will ease further. European stocks rose and the dollar declined in the risk-on mood. S&P 500 contracts and those on the tech-heavy Nasdaq 100 advanced at least 0.5% after an earlier rally that pushed the latter into a bull market. Retail ...

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• 30 March

  Tech set for one of its best quarters, thanks to Federal Reserve

  

  BLOOMBERG The Nasdaq 100 is heading for its second-best quarter in a decade  — and it has the Federal Reserve’s recent largess to thank for its gains. The tech gauge soared 17% in the first quarter, buoyed by the Fed’s loosening of its balance sheet after Silicon Valley Bank’s (SVB) collapse earlier this month led to worries about monetary conditions ...

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• 30 March

  CEOs possess poor view of Britain, says pharma lobby head

  

  BLOOMBERG Britain’s ambition to become a “science superpower” will fail unless the government reverses the country’s reputation as a poor place to invest, the head of the UK’s biggest pharmaceutical lobby group has warned. “I’m very concerned about the sentiment towards the UK among global leadership right now,” Richard Torbett, chief executive officer of the Association of the British Pharmaceutical ...

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• 30 March

  US, EU near critical minerals accord to unlock US subsidies

  

  BLOOMBERG The European Union (EU) and the US are nearing an agreement on critical minerals that would provide EU companies access to some of the massive green subsidies offered in President Joe Biden’s Inflation Reduction Act (IRA). The deal will likely be similar to an agreement the US signed with Japan that also included a commitment to not impose restrictions ...

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• 30 March

  Porsche wins ruling in Stuttgart investor suit

  

  BLOOMBERG Porsche Automobil Holding SE won a crucial ruling in a €900 million ($976 million) class-action style lawsuit from investors who claimed the company should have warned shareholders about the diesel-emission software rigging at Volkswagen AG. The Stuttgart Higher Regional Court said the company didn’t fail to inform markets about the use of a defeat device at Volkswagen long before ...

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• 30 March

  Google’s India antitrust fine stays, with some concessions

  

  BLOOMBERG An India appeals court upheld a fine of about $160 million slapped on Alphabet Inc’s Google by the country’s antitrust regulator, amid growing scrutiny over the company’s ambition to expand the global reach of its Android mobile operating system. Yet in a relief for Google, the court allowed some concessions to corrective measures the antitrust regulator had sought. The ...

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• 30 March

  UAE President issues Emiri decree restructuring Abu Dhabi Executive Council

  

  ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, in his capacity as Ruler of Abu Dhabi, has issued an Emiri decree restructuring the Executive Council of Abu Dhabi under the chairmanship of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi. The decree stipulates the ...

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• 30 March

  Adnoc L&S unveils integrated logistics services platform

  

  ABU DHABI / WAM Adnoc Logistics & Services (Adnoc L&S) has unveiled its Integrated Logistics Services Platform (ILSP), one of the largest turnkey offshore logistics offerings in the world that enables coordinated end-to-end management of logistics and maritime operations at its base in Mussafah, Abu Dhabi. As part of the launch of the ILSP project, Adnoc L&S confirms that it ...

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• 30 March

  UAE President appoints Sheikh Mansour as UAE Vice President, Sheikh Khaled as Abu Dhabi Crown Prince

  

  ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, has issued resolutions, with the approval of the UAE Federal Supreme Council, to appoint His Highness Sheikh Mansour Bin Zayed Al Nahyan, Deputy Prime Minister of the United Arab Emirates and Minister of Presidential Court, as UAE Vice President, alongside His Highness Mohammed Bin ...

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• 30 March

  UAE President, VP attend honouring ceremony of Nafis Award winners

  

  ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Presidential Court and Chairman of the Board of Directors of the ...

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