BLOOMBERG China property bulls are looking past what’s likely another disastrous earnings season for the nation’s embattled developers, betting on a recovery as green shoots emerge in sales. Sixteen of Hong Kong-listed Chinese real estate firms have so far flagged profit slumps for 2022 with the number expected to grow, according to JPMorgan Chase & Co. The wave of warnings, ...
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March, 2023
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15 March
Sri Lanka’s GDP slump deepens in Q4 after chasing IMF bailout
BLOOMBERG Sri Lanka’s economic contraction probably worsened last quarter as borrowing costs at a two-decade high to quell Asia’s fastest inflation took its toll on a nation chasing a $2.9 billion bailout. Gross domestic product fell 13.4% in the three months to December from a year ago, according to a median estimate of economists in a Bloomberg survey. That would ...
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15 March
Hon Hai expects flat 2023 amid EV push
BLOOMBERG Hon Hai Precision Industry Co said it expects to multiply its sales of electric vehicle components this year while weathering cooler consumer spending on technology. The Taiwanese Apple Inc assembler offered a forecast of slumping consumer electronics demand this year offset by an uptick in sales of cloud and networking products, PCs and especially EV hardware, which it sees ...
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15 March
China sees economic rebound, but warns of risks to recovery
BLOOMBERG China reported a rebound in consumer spending, industrial output and investment this year after coronavirus restrictions were dropped, while warning of risks to the economy’s recovery as unemployment rose and real estate investment continued to slump. Retail sales rose 3.5% in January and February compared to the same period last year, the National Bureau of Statistics said. Industrial output ...
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15 March
Stocks, US futures decline amid Credit Suisse turmoil
BLOOMBERG Fresh turmoil at Credit Suisse Group AG roiled European bank shares and dented sentiment in the US futures market as investors remain on edge after last week’s regional-bank failures. Treasuries turned higher on haven demand. Europe’s Stoxx 600 equity benchmark fell 2%, with a gauge of banks plunging more than 5%. Shares in Credit Suisse slumped for an eighth ...
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15 March
SVB blowout to drive shares of SoftBank below Son’s pain point
BLOOMBERG The sudden collapse of Silicon Valley Bank looks set to increase scrutiny of SoftBank Group Corp. investments, and possibly drive its share price to Masayoshi Son’s pain point. The US tech lender’s failure has fuelled investor concern over the exposure to startup firms in the SoftBank Vision Funds. SoftBank shares have plunged 13% in four sessions to below 5,000 ...
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15 March
Orthognathic Surgery Center opens in Dubai
DUBAI / GULF TIME The opening ceremony of the Orthognathic Surgery Center, specialised in dentistry and jaw surgery, was held at the Hyatt Regency Creek Heights Hotel in Dubai Healthcare City on Monday. The center’s founders Dr Ahmad Al-Zahaili, Dr Jean Francois Tulasne and a large group of senior guests, doctors, media professionals and the center’s employees attended the event. ...
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14 March
UAE supports global efforts to promote economic integration, says minister
NEW DELHI / WAM Abdullah bin Touq Al Marri, Minister of Economy, participated in the CII Partnership Summit 2023, which is being held in New Delhi, India, from March 13-15 under the theme “Partnerships for Responsible, Accelerated, Innovative, Sustainable and Equitable Businessesâ€. The summit aims to facilitate the exchange of visions and ideas that can support sustainable development efforts and ...
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14 March
UAE: Second auction of T-Bonds records AED5.51 billion in bids
ABU DHABI / WAM The United Arab Emirates, represented by the Ministry of Finance (MoF) as the issuer, in collaboration with the central bank of the UAE (CBUAE) as the issuing and paying agent, has announced the results of the second auction in 2023 of the Treasury Bonds programme (T-Bonds), which is part of the T-Bond issuance programme for 2023 ...
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14 March
Abu Dhabi’s Aldar launches Reeman Living in Al Shamkha
ABU DHABI / WAM Aldar Properties has announced the launch of Reeman Living, a new residential development that brings design-led urban living to Aldar’s Alreeman project in the Al Shamkha neighbourhood of Abu Dhabi. The project provides a selection of vibrant and inclusive communities within prime areas of Abu Dhabi. The development also offers bespoke design elements and colour palettes, ...
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