March, 2023

• 22 March

  Sembcorp weighs sale of waste management unit

  

  BLOOMBERG Sembcorp Industries Ltd, a Singaporean energy company backed by state-owned investor Temasek Holdings Pte, is considering selling its waste management unit, according to people with knowledge of the matter. The company is working with a financial adviser on the potential divestment of SembWaste Pte and could seek as much as $700 million for the unit, the people said. Other ...

  Read More »
• 22 March

  GLP-backed fund to raise $100m for Asian fintech deals

  

  BLOOMBERG A Singapore-based fintech investment firm is close to raising $100 million to back finance and blockchain startups in China and Southeast Asia. BitRock Capital, backed by logistics real estate operator GLP Pte, targets a closing of the new fund by the third quarter, Alfred Shang, its chief executive officer and co-founding partner, said in an interview. It would more ...

  Read More »
• 22 March

  Banks’ AT1 bonds rise as Goldman Sachs flags opportunity to buy

  

  BLOOMBERG Additional Tier 1 (AT1) bonds issued by lenders from UBS Group AG to Kookmin Bank in South Korea are rising as regulators’ assurances helped boost confidence and Goldman Sachs Group Inc analysts highlighted opportunities in the notes. UBS’s $1.5 billion 4.375% perpetual notes were among the biggest gainers in Europe on Wednesday, having risen around 2 points to 66.31 in ...

  Read More »
• 22 March

  US equity futures steady in pre-Fed caution, pound up

  

  BLOOMBERG US equity futures were steady and European stocks edged higher as investors prepared for the Federal Reserve’s much-anticipated interest-rate decision. The pound rallied to a six-week high after a surprise rise in UK inflation increased pressure for action from the Bank of England. Contracts for the S&P 500 and the tech-heavy Nasdaq 100 were marginally lower. Virgin Orbit Holdings ...

  Read More »
• 22 March

  Malabar Gold & Diamonds opens international hub in Dubai Gold Souk

  

  DUBAI / GULF TIME HE Abdullah Bin Touq Al Marri, UAE Minister of Economy, witnessed the opening of the new Malabar Gold & Diamonds international hub in Dubai Gold Souk. MP Ahammed, Chairman of Malabar Group; and other directors, distinguished guests, officials, well-wishers, and management team members of Malabar Gold & Diamonds were present on the occasion. The group is ...

  Read More »
• 22 March

  Sharaf Group signs strategic MoU with Tanishq

  

  DUBAI / GULF TIME Tanishq signs a memorandum of understanding (MoU) with Sharaf Group UAE on Wednesday. Through this strategic alliance, Tanishq aims to extend its highly focused value offering in gold and diamond jewellery and utilise Sharaf Group’s retail expertise to drive their already robust growth story in the GCC. The two entities will kickstart this collaboration with the ...

  Read More »
• 21 March

  Fatima bint Hazza honoured with Arab Woman Award

  

  LONDON / WAM The Arab London Foundation awarded Sheikha Fatima bint Hazza bin Zayed Al Nahyan, Chairwoman of the Board of Directors of the Fatima bint Mubarak Ladies Sports Academy and the Fatima bint Hazza Cultural Foundation, the Arab Woman Award 2023, in recognition of her outstanding achievements and efforts in empowering women in various fields, especially cultural and sports. ...

  Read More »
• 21 March

  UAE condemns Israeli minister’s claims on ‘existence of Palestinians’

  

  ABU DHABI / WAM The UAE has condemned statements by Israeli Minister of Finance Bezalel Smotrich in which he denied the existence of the Palestinian people. The UAE also condemned his use of a map of Israel that includes lands from the Hashemite Kingdom of Jordan and the occupied Palestinian territories. In a statement, the Ministry of Foreign Affairs and ...

  Read More »
• 21 March

  Enec, Nuclearelectrica sign pact on nuclear energy development

  

  ABU DHABI / WAM The Emirates Nuclear Energy Corporation (Enec) and Nuclearelectrica have announced the signing of a memorandum of understanding (MoU) for bilateral cooperation within the nuclear energy sector to support the growth of this critical energy source in tackling the dual challenges of energy security and climate change. The objective of the MoU is to provide both parties ...

  Read More »
• 21 March

  Dana Gas announces 4.5 fils cash dividend for H2 2022

  

  SHARJAH / WAM The Board of Directors of Dana Gas on Tuesday announced that it has recommended an incremental dividend payment of 4.5 fils per share for H2 2022. A payout of 4.5 fils per share for the second half of 2022 would take the total dividend payment for 2022 to AED630 million or 9 fils per share, a 12.5 ...

  Read More »