March, 2022

• 10 March

  SEDD highlights aspirations of youth in industrial sector

  

    SHARJAH / WAM The Youth Council of Sharjah Economic Development Department (SEDD) organised a virtual discussion session in cooperation with Federal Youth Authority and Sharjah Foundation for Supporting Entrepreneurship (RUWAD). The session was aimed at highlighting UAE’s role in developing the industrial, specifying basic needs to run industrial projects, discussing challenges facing the entrepreneur sector, and discussing solutions to ...

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• 10 March

  Empower approves cash dividend of AED500 million to its shareholders

  

    DUBAI / WAM Emirates Central Cooling Systems Corporation (Empower) has announced a dividend of AED500 million to its shareholders for the fiscal year ending on December 31, 2021. The dividend payout represents 53.4 percent of the AED936 million, the total net profit achieved by Empower for the last fiscal year that increased by 4 percent compared to 2020. The ...

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• 10 March

  Ma’an invites its members to new social innovation space

    ABU DHABI / WAM In a bid to elevate community awareness about the importance of shared social responsibility and help advance social priorities that benefit the people of Abu Dhabi and the UAE at large, the Authority of Social Contribution – Ma’an is set to host the 2nd edition of the ‘Exchange’, a space designed to educate and empower ...

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• 10 March

  Expo 2020 Dubai wins accolades over diversity

    DUBAI / WAM Reem bint Ibrahim Al Hashemy, Minister of State for International Cooperation and Director-General at Expo 2020 Dubai, has announced that the mega event has received an event-specific Gender Equality European and International Standard (GEEIS), a significant recognition of the World Expo’s ongoing commitment to workplace gender equality. In her speech during the “Break the Bias” forum ...

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• 10 March

  European gas drops over traders’ concerns

  

    Bloomberg Natural gas in Europe declined as traders weighed the region’s reluctance to sanction Russian supplies and the potential easing of retaliatory action by Moscow. Benchmark Dutch futures fell as much as 21%, after swinging wildly between gains and losses. While the European Commission has said it plans to reduce Russian gas imports by two-thirds this year, finding alternatives ...

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• 10 March

  Why China won’t help Russia around sanctions

  

  China is the wild card. President Xi Jinping has vowed that the friendship between China and Russia has “no limits,” and he certainly has the tools to help soften the blow of unprecedented sanctions imposed by the US and European Union on Vladimir Putin’s wartime economy. Beijing could buy some of Russia’s $130 billion hoard of gold held by the ...

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• 10 March

  What will help Bed Bath & Beyond?

  

  Investors in Bed Bath & Beyond Inc are betting that an activist intervention will add up to big gains. Shares in the retailer rose as much as 86%, the most ever, in early trading after Ryan Cohen, a co-founder of Chewy Inc and the chairman of GameStop Corp, disclosed that he had taken a 9.8% stake. Cohen’s investment company RC ...

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• 10 March

  The City of London is Wild West of metals

  Marc Rich, the infamous godfather of the modern commodity trading industry, thought he could squeeze the global metals market at will. It was a time of swashbuckling trading in the City of London — regulation was lax and traders did as they saw fit. In 1992, he targeted the zinc market, amassing a huge position on the London Metal Exchange. ...

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• 10 March

  Putin was empowered by ‘political silence’

    In private Telegram groups and on Russian Twitter, Russian-speakers around London share outrage over Vladimir Putin’s war on a neighbouring country and brother nation and the wanton destruction it has brought. Sardonically, they refer to the botched battle plan and military snafus in English as a BlitzCringe. They’re done with Russia and yet they can’t be free of it. ...

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• 10 March

  Cathay burns cash again as Covid restrictions bite

  

  Bloomberg Cathay Pacific Airways Ltd is once more burning through cash as Hong Kong’s spiraling Covid-19 outbreak reduces the airline’s flying to a trickle. The carrier will go through between HK$1 billion ($128 million) and HK$1.5 billion every month “until conditions improve,” CEO Augustus Tang said. It’s a swift and bleak reversal for the city’s marquee airline. Tang said in his ...

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