February, 2023

• 27 February

  Primark raises forecast on demand for cut-price fashion

  

  BLOOMBERG Primark’s outlook is improving as cash-strapped shoppers seek inexpensive fashion at the UK budget clothing chain, boosting its market share. The retailer’s adjusted operating profit margin should exceed 8% this year, ahead of former guidance, owner Associated British (AB) Foods Plc said. The stock rose as much as 1.6% in morning trading. Primark stores are attracting clients with items ...

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• 27 February

  Airbus sees Pacific nations buying 920 planes in 20 years

  

  BLOOMBERG Airbus SE expects the Pacific region — Australia, New Zealand and neighbouring nations — to take delivery of 920 planes in the next 20 years, underscoring a fast revival in travel following the pandemic. The demand includes about 750 single-aisle jets, like the best-selling A320 family of aircraft, and about 170 bigger planes, Airbus said in a statement. More ...

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• 27 February

  Rationing alone may not solve UK grocers’ salad shortages

  

  BLOOMBERG Britain’s supermarkets are hoping common courtesy can help them avoid free-for-alls in the fresh fruit and vegetable aisles. Moves by Tesco Plc, Asda, Aldi and Morrisons to limit purchases of tomatoes, cucumbers and peppers showed that the grocers are willing to invoke the spirit of the pandemic and ration goods if necessary to protect supplies. Grocers want to be ...

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• 27 February

  Adani stocks fall as firm starts tour to win back investors

  

  BLOOMBERG Most Adani group stocks fell as the embattled Indian conglomerate kicked off a charm offensive with fixed-income investors in Asia, its latest effort to stem the fallout from a short-seller’s attack. All of the group’s 10 stocks dropped, led by a 10% plunge in flagship Adani Enterprises Ltd., taking its market value wipeout to about $154 billion since Hindenburg ...

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• 27 February

  Europe, US stocks push higher after Wall Street’s dismal week

  

  BLOOMBERG European stocks and US equity futures markets pushed higher early on Monday, following Wall Street’s worst week since December that saw traders come to terms with central bank policy that may remain restrictive for longer than thought on both sides of the Atlantic. The Stoxx 600 Index rose more than 1%, with technology firms and retailers pacing gains and ...

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• 27 February

  Sharjah issues, renews 64,089 licences in 2022

  

  SHARJAH / WAM  Sharjah Economic Development Department (Sedd) released the results of Sharjah’s commercial and economic activities report during 2022, where 64,089 licences were issued and renewed in the past year, with a growth rate of six percent over 2021. This report included 7,615 new licences issued and 56,474 renewed. The department reviewed the results and the main developments and ...

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• 27 February

  UAE, Algeria advancing economic partnership

  

  ABU DHABI / WAM The 15th session of the joint UAE-Algeria Economic Committee has been held in Abu Dhabi under the chairmanship of Abdullah bin Touq Al Marri, Minister of Economy, and Algerian Minister of Industry, Ahmed Zaghdar, in the presence of Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade. “The late Sheikh Zayed bin Sultan ...

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• 27 February

  UAE, Egypt, Jordan, Bahrain sign $2b of industrial deals

  

  AMMAN / WAM    Companies from the UAE, Egypt, Jordan and Bahrain signed industrial agreements with an investment value exceeding $2 billion at the third Higher Committee meeting of the Industrial Partnership for Sustainable Economic Development. The meeting kicked off in Amman on Sunday in the presence of Dr Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology ...

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• 27 February

  Participants excelled in first round of UAE MotorSurf Championship

  

  ABU DHABI / GULF TIME The first round of the UAE MotorSurf Championship, which was organised by Abu Dhabi Marine Sports Club on Saturday at Abu Dhabi breakwater, saw a great technical success considering the number of competitors that participated in the four categories of the championship. The first round recorded 24 participations. The Czech Republic’s Matias Novotny and Eliska ...

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• 27 February

  UIM F1H2O: Sheikh Mohammed bin Sultan applauds UAE teams

  

  KOPIKO, INDONESIA / GULF TIME Sheikh Mohammed bin Sultan bin Khalifa Al Nahyan, President of the UAE Marine Sports Federation and Chairman of the Board of Directors of the Abu Dhabi Marine Sports Club, met the Emirati teams participating in the first round of Formula 1 World Championship, held in the city of Kopiko on Lake Toba, Indonesia. Sheikh Mohammed ...

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