February, 2023

• 27 February

  Philippines files 10 protests against China

  

  BLOOMBERG The Philippines has filed 10 diplomatic protests against China over alleged “violations” in the South China Sea with barely two months into 2023, underscoring renewed tensions between the two nations over the disputed waters. These form part of the 77 diplomatic protests filed against China under President Ferdinand Marcos Jr, the Philippines’ Department of Foreign Affairs said in a ...

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• 27 February

  US sees China in ‘awkward’ global position on Ukraine

  

  BLOOMBERG China’s stance on the Russian invasion of Ukraine puts it in an “awkward” position internationally and any weapons support to Russia would come with “real costs,” US National Security Advisor Jake Sullivan said. Sullivan emphasized in three interviews with US television networks that the Biden administration doesn’t have evidence that China is giving “lethal support” to President Vladimir Putin’s ...

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• 27 February

  HFZA explores investment opportunities with Turkey

  

  SHARJAH / WAM A delegation of 143 senior officials and directors from prominent food and beverage companies in Turkiye recently visited the Hamriyah Free Zone Authority (HFZA) to explore new investment opportunities and experience the quality services provided to investors in the sector. During the visit, the Turkish delegation was briefed on the investment incentives and advantages offered by the ...

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• 27 February

  Tawazun Council establishes free zone for military, security sectors

  

  ABU DHABI / WAM  Tawazun Council has established a free zone dedicated to the military and security sector in Tawazun Industrial Park. The free zone covers 2.8 square kilometres and has been established to commence operations related to defence and security industries, including electronic and technological activities, clear-cut metal industries, safety and security, research and development, as well as logistics ...

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• 27 February

  Adnoc Gas raises IPO size to AED9.3b on heavy demand

  

  ABU DHABI / WAM Adnoc Gas plc on Monday announced that, following approval from the SCA, its selling shareholder, Abu Dhabi National Oil Company (Adnoc or the selling shareholder) has exercised its right set out in the UAE prospectus to increase the number of ordinary shares offered in the initial public offering (IPO) of the company. Adnoc will now offer ...

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• 27 February

  Sheikh Mohammed approves 8,500 land plots for Emiratis

  

  DUBAI / WAM  In his capacity as the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, issued directives to immediately allocate 8,500 land plots to Emirati citizens in the Al Yalayis 5 area. The plots are located on an area spanning 120 million square feet. His Highness Sheikh Mohammed’s ...

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• 27 February

  Hong Kong exports plunge by most in 70 years as demand dips

  

  BLOOMBERG Hong Kong’s exports plunged in January by the most in 70 years as waning global demand and the Lunar New Year break weighed on trade and Chinese demand remained weak, even after the mainland emerged from Covid Zero. Overseas shipments plummeted 36.7% from a year earlier to HK$290.9 billion ($37.1 billion), the Census and Statistics Department said. That was ...

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• 27 February

  Essar plans to invest $3.6bn for UK, India decarbonisation unit

  

  BLOOMBERG Essar Group plans to spend as much as $3.6 billion on low-carbon hydrogen production in the UK and India, as well as decarbonisation work at its refinery in northwest England, pending government support. The company’s first step would be a $1.2 billion investment in Britain to produce hydrogen from natural gas with carbon capture and storage, according to Prashant ...

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• 27 February

  Toyota global sales see decline in Jan due to lingering Covid effects

  

  BLOOMBERG Toyota Motor Corp reported a slight drop in global sales in January due to lingering effects of the Covid-19 pandemic and a chronic shortage of semiconductors for automobiles, the Japanese automaker said. Sales, including Daihatsu Motor Co and Hino Motors Ltd, fell 3.6% from a year earlier to 795,847 vehicles, while production rose 8.4% to 819,727 units, the world’s ...

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• 27 February

  Li Auto Q1 sales forecast soars on expanded EV lineup

  

  BLOOMBERG Chinese electric carmaker Li Auto Inc expects first-quarter revenue to come in as high as $2.7 billion as a revamped and expanded product lineup helps it win sales from rivals including Tesla Inc. The Beijing-based auto manufacturer said revenue for the three months ending on March 31 should be between 17.5 billion yuan ($2.5 billion) to 18.5 billion yuan, ...

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