March, 2023

• 4 March

  Abramovich’s ally takes on UK in sanctions challenge

  

  BLOOMBERG A billionaire and “close” partner of oligarch Roman Abramovich has become the first person to challenge the UK’s Russian sanctions regime in a London court. Lawyers for Eugene Shvidler, who has long been associated with Abramovich, filed the claim last month, saying that the UK made “significant errors” in its assessment of Shvidler’s relationship with the former owner of ...

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• 4 March

  Germany asks Switzerland to sell back some Leopard 2 tanks

  

  BLOOMBERG Germany has asked Switzerland if it can buy back some of the nation’s decommissioned Leopard 2 battle tanks as part of an effort to replace depleted stocks among Nato allies. German Defense Minister Boris Pistorius and Economy Minister Robert Habeck made the request in a February 23 letter to Swiss Defense Minister Viola Amherd, a German defense ministry spokesman ...

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• 3 March

  Fed officials warn of lifting interest rates to higher peak

  

  BLOOMBERG Two Federal Reserve policymakers cautioned that recent stronger-than-expected readings on the US economy could push them to raise interest rates by more than previously expected. In remarks, Governor Christopher Waller said that if payroll and inflation data cool after hot prints in January, “then I would endorse raising the target range for the federal funds rate a couple more ...

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• 3 March

  ECB’s Wunsch sees 4% rates possible if inflation stays high

  

  BLOOMBERG European Central Bank (ECB) Governing Council member Pierre Wunsch said market bets for interest rates to reach a 4% peak may prove accurate if underlying price pressures remain elevated. How far borrowing costs must rise “depends very much on the evolution of core inflation,” the Belgian central bank chief said, referring to the measure of consumer-price growth that strips ...

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• 3 March

  Bitcoin sinks to two-week low as Silvergate fallout hurts crypto

  

  BLOOMBERG Bitcoin dropped to the lowest level in about two weeks, part of a wider retreat in crypto markets as investors digested the unraveling of a key industry payments network. The largest token by market value sank as much as 6% before paring some of the slide to trade 4.6% lower at $22,347 in New York. Smaller coins such as ...

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• 3 March

  HSBC, Nationwide ramp up cryptoassets limits

  

  BLOOMBERG Nationwide Building Society and HSBC Holdings Plc toughened limits on retail customers’ access to cryptoassets, becoming the latest UK banks to impose curbs after industry scandals and regulatory warnings. Nationwide is applying daily limits of £5,000 ($5,965) on debit-card purchases of cryptoassets, the building society informed customers, while its credit cards can no longer be used to buy crypto. ...

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• 3 March

  TD gets revenue lift as rising rates help US, Canada margins

  

  BLOOMBERG Toronto-Dominion (TD) Bank’s focus on retail banking in Canada and the US paid off last quarter as rising interest rates made lending to consumers more profitable. Still, concerns about its loan-loss provisions and delays to a major deal weighed on the stock. The bank’s US business saw its net interest margin — the difference between what it earns on ...

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• 3 March

  Adnoc Gas sets offer price for its IPO at AED2.37 per share

  

  ABU DHABI / WAM Adnoc Gas on Friday announced the final offer price for the shares offered by Abu Dhabi National Oil Company (Adnoc or the selling shareholder) in connection with Adnoc Gas’s initial public offering (IPO or offering) and listing on the ADX, following the successful conclusion of the bookbuild and public subscription process. The final offer price for ...

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• 3 March

  MoHAP hosts WHO’s regional expert meeting on healthy diet policies

  

  DUBAI / WAM The Ministry of Health and Prevention (MoHAP) hosted a regional expert meeting on healthy diet policies in Dubai. The event, which was hosted by the World Health Organisation (WHO) Regional Office for the Eastern Mediterranean, aimed to discuss recent developments in the field of healthy diet policies at the regional level, with a special emphasis on the ...

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• 3 March

  Emirates, Philippine Airlines announce interline agreement

  

  DUBAI / WAM Emirates and Philippine Airlines (PAL) have signed an interline agreement to boost connectivity for passengers of both air carriers to new points on each other’s networks via Manila and Dubai, using a single ticket and one baggage policy. Now in effect, the reciprocal interline partnership provides Emirates’ passengers access to 19 Philippine domestic destinations operated by Philippine ...

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