March, 2023

• 10 March

  US ambassador calls on Hungary’s premier to pivot from Russia ‘now’

  

  BLOOMBERG The US ambassador to Hungary said Prime Minister Viktor Orban has reached a crossroads and that the “time is now” for him to pivot away from Russia and shore up the country’s relations with its western allies. The unusually direct remark for a sitting US ambassador about a Nato partner’s international policy adds to mounting pressure on Orban to ...

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• 10 March

  Russia clears Putin’s schedule for G-20 summit in India

  

  BLOOMBERG The Kremlin is opening up Vladimir Putin’s schedule around this year’s G-20 summit in India in September to make it possible for the Russian president to participate in the leaders’ gathering after skipping the last two, according to people familiar with the planning. Kremlin defiance is growing as efforts by the US and its allies to isolate Russia over ...

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• 10 March

  SVB races to prevent bank run as funds advise pulling cash

  

  BLOOMBERG Panic is spreading across the financial world as concerns about the financial stability of Silicon Valley Bank (SVB) prompt prominent venture capitalists including Peter Thiel’s Founders Fund to advise startups to withdraw their money. The turmoil followed a surprise announcement from Santa Clara, California-based SVB that it was issuing $2.25 billion of shares to bolster its capital position after ...

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• 10 March

  Standard Bank ready to re-capitalise Ghana unit

  

  BLOOMBERG Standard Bank Group Ltd, Africa’s biggest lender by assets, is ready to re-capitalise its Ghanaian unit after making provisions to cover more than half of its holdings in the nation’s debt. “It may become necessary for us to inject capital in that business and we will, at the appropriate time,” Chief Executive Officer Sim Tshabalala said in an interview. ...

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• 10 March

  Malaysia extends rate pause as inflation cools, growth slows

  

  BLOOMBERG Malaysia left its monetary settings unchanged for a second straight meeting, as the central bank opted to weigh the impact of previous interest-rate increases on economic activity amid a challenging global  outlook. Bank Negara Malaysia (BNM) held its overnight policy rate at 2.75%, a decision seen by 11 of 20 economists in a Bloomberg survey, with the rest expecting ...

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• 10 March

  BOE to cut spending for work on climate change

  

  BLOOMBERG The Bank of England (BOE) plans to cut spending on climate change work and redirect the money to core functions because of rising pressures on its costs. Climate programs will slip lower on the central bank’s agenda so officials can focus more on the core operations such as financial stability, markets and a digital currency, according to a person ...

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• 10 March

  Kuroda buffets yen again after decade of radical easing

  

  BLOOMBERG Haruhiko Kuroda finished his last meeting at the helm of the Bank of Japan (BOJ) by buffeting markets again with a straightforward stand-pat that contrasted with the explosive launch of his massive stimulus program a decade ago. The BOJ left its negative interest rate and its cap on government debt yields untouched at the shortest regular meeting during Kuroda’s ...

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• 10 March

  Enec showcases N-energy’s role to support sustainable growth

  

  ABU DHABI / WAM The Emirates Nuclear Energy Corporation (Enec) is showcasing the vital role that “Net Zero Nuclear Energy” is playing in tackling climate change and rapidly decarbonising the power sector in the UAE, at CERAWeek, the world’s premier energy conference in Houston, US. With more than 7,600 delegates this year, CERAWeek is highlighting how electrification is a key ...

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• 10 March

  e& sends AED20m worth of equipment to support Türkiye’s telecom sector

  

  ABU DHABI / WAM etisalat by e& UAE has announced sending telecommunication equipment worth AED20 million as a humanitarian support to reconstruct Türkiye’s telecommunication infrastructure in earthquake-affected areas. This is a continuation of a previous initiative launched by the e& group, which affirms its keenness to participate in the “Gallant Knight / 2” campaign, initiated by President His Highness Sheikh ...

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• 10 March

  ALC launches initiative to establish ‘reading corners’

  

  ABU DHABI / WAM The Abu Dhabi Arabic Language Centre (ALC), a part of the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi), has launched an initiative to establish “Reading Corners” at several cultural institutions across the UAE capital. The initiative was launched to mark the “National Reading Month” and aims to promote a culture of reading ...

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