March, 2022

• 8 March

  India sees electric opportunity to focus on budget cars

  

  Bloomberg Sales of electric vehicles in India tripled last year to 14,800 units and there are growing signs of momentum in this key potential market of 1.4 billion people. Impatient consumers rushing to switch from gasoline-powered two wheelers to electric scooters have been haranguing startups like Ola Electric on social media over the waiting times for deliveries. Luxury brands are ...

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• 8 March

  Major stocks heading for bear markets as oil soars

  

    Bloomberg Major stock markets from Europe to Asia are heading for bear markets — falling more than 20% from highs — amid fears of an inflation shock as crude oil soared on the prospect of a ban on Russian supplies. Europe’s Stoxx 600 dropped more than 3% on Monday, while US equity index futures and an Asian share index ...

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• 8 March

  Rupee sinks to record low as India markets sell off on oil surge

  

    Bloomberg The Indian rupee tumbled to a record low, while stocks and bonds also slumped as a relentless surge in oil prices darkened the nation’s economic outlook. India relies on overseas purchases to meet about three-fourths of its oil requirement, making it one of the most vulnerable in Asia to higher oil prices. Oil prices, already up more than ...

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• 7 March

  European Parliament lauds UAE’s success in advancing gender balance

  

    DUBAI / WAM A delegation of members from the European Parliament, headed by Anna Michel, Member of the European Parliament and Vice Chair of the Committee on International Trade, expressed great admiration at the UAE’s successes in supporting women and advancing gender balance. The delegation was received by Mona Al Marri, Vice President of the UAE Gender Balance Council, ...

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• 7 March

  Oil market to get even tighter on Russia disruptions: Vitol

  

    Bloomberg Global oil markets could tighten even more with Russian flows being disrupted and producers such as Libya experiencing supply problems, according to Vitol Group, the world’s biggest independent crude trader. That could push prices higher still after they soared to more than $115 a barrel in the wake of Russia’s invasion of Ukraine. “We have plenty of twists ...

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• 7 March

  UAE leaders wish Ghana president on National Day

  ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan has sent a message of congratulations to Nana Akufo-Addo, President of Ghana, on the occasion of his country’s National Day. HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and ...

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• 7 March

  Edge unveils new protected Rabdan ambulance at Riyadh defense show

  

    RIYADH / WAM Edge Group entity, AL JASOOR, the UAE’s armoured vehicle specialist, unveiled a new variant of its Rabdan 8×8 infantry fighting vehicle (IFV) — the Rabdan ambulance — on the first day of the World Defense Show held in Riyadh, Kingdom of Saudi Arabia. The new configuration is uniquely designed to provide off-road mobility and mine-resistant, ambush ...

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• 7 March

  HFZA reiterates to boost Indian firms’ confidence

  

    DUBAI / WAM Hamriyah Free Zone Authority (HFZA) has reiterated its commitment to providing all the necessary means to boost the confidence of more than 1,400 Indian companies operating in the free zone in various industrial and commercial sectors. The authority added, “We spare no effort to provide all the facilities, the administrative, technical, and logistical services that ensure ...

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• 7 March

  Shurooq appoints its acting COO

    SHARJAH / WAM The Sharjah Investment and Development Authority (Shurooq) has announced the appointment of Ahmed Obaid Al Qaseer as its acting Chief Operating Officer (COO). In his new role, Al Qaseer will continue the ongoing concerted efforts to achieve Shurooq’s vision of developing world-class projects and bolster efforts to drive national and foreign investments into the emirate. He ...

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• 7 March

  Economy Europe keen to explore investment prospects in DAFZ

  

    DUBAI / WAM Dr Mohammed Al Zarooni, Executive Chairman of the Dubai Integrated Economic Zones Authority (DIEZ), welcomed a high-level delegation from the Senate of Economy Europe. The delegation led by Dr Walter Doring, Chairman of the Senate of Economy, aims to explore future cooperation and investment opportunities offered by the Dubai Airport Free Zone (DAFZ). The meeting was ...

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