March, 2023

• 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 Businesses”. 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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• 14 March

  Mashreq Bank funds $15.5bn in sustainable finance since Jan 2021

  

  DUBAI / WAM Joel Van Dusen, Group Head of Corporate & Investment Banking at Mashreq, said that since January 2021, Mashreq has facilitated AED56.9 billion ($15.5 billion) of sustainable finance and adaptation-related investments. In a statement to Emirates News Agency (WAM), Dusen said that ESG is related to cash flow in five important ways. It minimises regulatory and legal intervention, …

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• 14 March

  Yalla group revenue hits record AED1.1b in 2022

  

  ABU DHABI / WAM Yalla Group Limited has announced its unaudited financial results for the fourth quarter and full year ended on December 31, 2022. Yalla continued to focus on quality growth in 2022, with full year revenue hitting AED 1.1 billion, ($303.6 million), an increase of 11.2 percent compared to AED 1.0 billion in 2021. The group also recorded …

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• 14 March

  Imran Khan supporters clash with police out to arrest him

  

  BLOOMBERG Supporters of Imran Khan clashed with Pakistani police outside his home as the security officials tried to arrest the former premier for the second time, prolonging a political crisis that’s overshadowing the country’s economic turmoil. Islamabad police spokesperson Taqi Jawad said that a police team reached Khan’s residence in the central city of Lahore late on Tuesday afternoon with …

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• 14 March

  Xi reboots statesman image in push to counter US on world stage

  

  BLOOMBERG Chinese President Xi Jinping is rebooting his image as a global statesman — and he’s already got a significant win under his belt. Hours after securing a third term as China’s president on March 10, Xi’s government hosted the signing of a landmark deal between Saudi Arabia and Iran to restore diplomatic ties. While details of Beijing’s involvement remain …

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• 14 March

  US urges Turkey to allow Nato expansion as officials set to meet

  

  BLOOMBERG US National Security Adviser Jake Sullivan urged Turkey to ratify the membership bids of Sweden and Finland into Nato as pressure builds on two remaining holdouts to approve the expansion of the military alliance. Officials from Turkey, Sweden and Finland have been trying to break an impasse that has held up the North Atlantic Treaty Organisation’s expansion since the …

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• 14 March

  US, allies announce submarine deal to counter China in Pacific

  

  BLOOMBERG The leaders of the US, the UK and Australia unveiled an ambitious multibillion-dollar plan for a new fleet of nuclear-powered submarines that will ply the Pacific in an effort to blunt China’s growing assertiveness in the South China Sea and around Taiwan. “Forging this partnership, we’re showing again how democracies can deliver our own security and prosperity, and not …

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• 14 March

  Covid-19: UAE announces 50% discount on fines

  

  ABU DHABI / WAM The Emergency, Crisis and Disasters Prosecution on Tuesday announced a 50 percent discount on penalties imposed for violating Covid-19 precautionary measures. Effective as of March 15, the decision – which will last for two months – includes all the unpaid violations committed during the pandemic. The Emergency Prosecution called for benefiting from the reduction decision and …

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