March, 2022

• 8 March

  Bank CEOs’ pay up 28% in Canada as profit rise

    Bloomberg Pay for the leaders of Canada’s five largest banks rose an average of 28% as the lenders’ earnings increased and shares gained. Total direct compensation for the chief executive officers climbed to a combined C$65.7 million ($51.2 million) for fiscal 2021, which ended Oct. 31. The bump for CEOs tops the 18% average increase in variable pay that ...

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• 8 March

  Morgan: Russia set for Venezuela-style default

  Bloomberg The odds of Russia making its foreign debt payments are diminishing as bond prices fall, recession in the nation looms and various payment restrictions pile up after the invasion of Ukraine, according to Morgan Stanley & Co. “We see a default as the most likely scenario,” Simon Waever, the firm’s global head of emerging-market sovereign credit strategy, wrote in ...

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• 8 March

  Stocks in Europe rally along with US futures; bonds fall

  

  Bloomberg Stocks in Europe rallied along with US futures after Bloomberg reported that the European Union is considering joint bond sales to help counter the fallout from Russia’s invasion of Ukraine. Bonds dropped and the euro strengthened. The Stoxx Europe 600 index reversed an early decline to climb more than 1%, set for its first advance in four days as ...

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• 8 March

  LME halts its trading in nickel after 250% spike

  

    Bloomberg The London Metal Exchange (LME) suspended trading in its nickel market after an unprecedented price spike left brokers struggling to pay margin calls against unprofitable short positions, in a massive squeeze that has embroiled the largest nickel producer as well as a major Chinese bank. Nickel, used in stainless steel and electric-vehicle batteries, surged as much as 250% ...

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• 8 March

  Chinese stocks in US drop to lowest in five years

    Bloomberg Shares of Chinese companies listed in the US tumbled, extending a selloff that pushed them to their lowest level since 2016. The Nasdaq Golden Dragon China Index sank 4.8% amid concerns over higher inflation, risks from the Russia-Ukraine war and rising Covid-19 cases in China and Hong Kong. The selloff is also coming during the National People’s Congress ...

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• 8 March

  UAE sends 30 tons of emergency medical and relief aid to Ukraine

  

    ABU DHABI / WAM The United Arab Emirates on Monday sent an aircraft carrying 30 metric tonnes of emergency health aid and medical supplies, as part of its emergency relief efforts to assist the needy civilians in Ukraine. This came in response to the international humanitarian appeal to support displaced Ukrainians and refugees in neighbouring countries. There are more ...

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• 8 March

  UAE, France bolster cooperation in nuclear and radiation safety

  

    ABU DHABI / WAM The Federal Authority for Nuclear Regulation (FANR) and the French Institute for Radiological Protection and Nuclear Safety (IRSN) have renewed the Implementing Agreement to continue their collaboration on research and development in the field of nuclear safety, radiation protection, emergency response, knowledge management among other aspects. FANR, Khalifa University and IRSN also signed an agreement ...

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• 8 March

  ‘Mother of the UAE’ supports women across the globe

  ABU DHABI / WAM On the occasion of the International Women’s Day (IWD) that marks on March 08, Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, hailed the efforts of HH Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union, Chairwoman of the Supreme Council for Motherhood and Childhood, and Supreme Chairwoman of the Family Development ...

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• 8 March

  Ruwad discusses new set of funding requests from SMEs

  

    SHARJAH / WAM The Sharjah Entrepreneurship Foundation (Ruwad) affiliated to Sharjah Economic Development Department (SEDD) discussed a new set of funding requests submitted by a number of small and medium enterprises in the Emirate of Sharjah. This came during the 8th meeting of the Foundation’s Project Finance Committee, and its second during 2022, which was held at the headquarters ...

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• 8 March

  Yahsat, Edge to equip NIMR vehicles with satellite connectivity solutions

  

    ABU DHABI / WAM Al Yah Satellite Communications Company PJSC (Yahsat), the UAE’s flagship satellite solutions provider, on Monday announced that its government division, Yahsat Government Solutions (YGS), agreed with Edge Group entity, NIMR, a leading manufacturer of combat-proven wheeled military vehicles, to line-fit pre-qualified Comms-On-The-Move (COTM) solutions on NIMR’s vehicular systems. The agreement was announced at the World ...

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