March, 2023

• 6 March

  Presight AI seeks listing on Abu Dhabi exchange via IPO

  

  ABU DHABI / WAM Presight AI Holding, a G42 company and a big data analytics company powered by artificial intelligence (AI), on Monday announced its intention to carry out an initial public offering (IPO) and subsequently list its shares on the Abu Dhabi Securities Exchange’s (ADX) first market. The UAE Securities and Commodities Authority approved the Company’s application for the ...

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• 6 March

  AD Ports enters Uzbek logistics market via JV with SEG Enera

  

  ABU DHABI / WAM AD Ports Group and SEG Enera Group, one of the multisectoral holding companies in Uzbekistan, on Monday announced the formation of a new joint venture, ADL-Ulanish, that will provide end-to-end global logistics services across the Republic of Uzbekistan. Through the new joint venture enterprise, AD Ports Group will bring its cutting-edge expertise in global supply chain ...

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• 6 March

  Dubai’s Dulsco buys Scottish energy recruitment firm AGR

  

  DUBAI / WAM Dulsco Group has announced on Monday that it has successfully acquired Advance Global Recruitment Ltd (AGR), a leading energy recruitment firm based in Edinburgh. With offices in Scotland and the UAE and clients across 70 countries, AGR brings a wealth of specialist expertise in oil, gas, and renewables recruitment to Dulsco Group. This acquisition strengthens Dulsco Group’s ...

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• 6 March

  Russia continues attempt to cut off besieged Bakhmut city

  

  BLOOMBERG Ukraine’s armed forces said Russian troops continue to pursue an attempt to cut off the besieged eastern city of Bakhmut. Kremlin forces are on the offensive along five axes in the east, including near Bakhmut, the Ukrainian General Staff said over the weekend. Bakhmut’s deputy mayor said Russian attacks are preventing Ukrainian troops from reaching residents who want to ...

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• 6 March

  5 die in clash between Azerbaijan, Armenia in disputed region

  

  BLOOMBERG At least five people were killed in fighting between Azerbaijani troops and ethnic Armenian law enforcement in the breakaway region of Nagorno-Karabakh, the area’s deadliest skirmish in more than six months. Both sides blamed each other for provoking the incident, which left two Azerbaijani soldiers and three police officers from the self-declared Nagorno-Karabakh Republic dead. The latest escalation came ...

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• 6 March

  Pakistan court rejects Khan’s bid to cancel arrest warrant

  

  BLOOMBERG A Pakistan court rejected opposition leader Imran Khan’s petition to cancel an arrest warrant in the latest twist in a legal case that has raised political tensions in the country that’s struggling to shore up finances and avert a default. The former premier had filed an application to the lower courts in Lahore and Islamabad on Monday morning to ...

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• 6 March

  Japan, South Korea reach ‘groundbreaking’ deal to mend relations

  

  BLOOMBERG Japan and South Korea signaled a breakthrough to end a feud that had disrupted ties on everything from trade to security, drawing praise from President Joe Biden as he seeks to convince the two US allies to help counter growing Chinese influence in Asia. South Korean President Yoon Suk Yeol said on Monday he hoped to “enter a new ...

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• 6 March

  Retailers dread high-flying US consumers falling back to earth

  

  BLOOMBERG One of the biggest questions for investors over the past year has been when Americans will pull back on spending and trigger a recession. In the fourth quarter, that didn’t happen as retailers and brands exceeded expectations. But their results and forecasts raised a bunch of red flags for the year ahead. After the highest inflation in a generation, ...

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• 6 March

  Amazon to shut cashierless stores in NYC, other cities

  

  BLOOMBERG Amazon.com Inc is closing eight cashierless Amazon Go locations in Seattle, New York and San Francisco, marking the e-commerce giant’s latest round of cost-cutting amid slowing sales growth. The affected stores will remain open until April 1, the company said. “Like any physical retailer, we periodically assess our portfolio of stores and make optimisation decisions along the way,” Amazon ...

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• 6 March

  Lufthansa joins peers in predicting travel recovery this year

  

  BLOOMBERG Deutsche Lufthansa AG joined major European airline companies in predicting an earnings boost this year as travel demand continues to swing back from the coronavirus pandemic. The region’s biggest airline group said it expects a “significant improvement” on the €1.5 billion ($1.6 billion) adjusted earnings before interest and taxes result it reported for 2022. Summer vacations to Mediterranean countries ...

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