March, 2022

• 4 March

  Mozambique prime minister loses job in biggest shake-up yet

  

    Bloomberg Mozambican President Filipe Nyusi dismissed Prime Minister Carlos Agostinho do Rosário, a day after he removed six members of the cabinet in his government’s biggest leadership overhaul since he took power in 2015. Nyusi didn’t provide any reason for the decision, nor did he immediately name a replacement in a statement from his office Thursday. Do Rosario had ...

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• 4 March

  Biden asks Congress for $32.5 billion in Ukraine, Covid aid

  

  Bloomberg The White House is asking Congress for $32.5 billion in emergency funding to boost its response to Russia’s invasion of Ukraine and tackle the ongoing fight against the coronavirus. President Joe Biden’s administration has requested $10 billion for Ukraine, money that will be used to address the mounting humanitarian crisis as well as assist its defense against Russia. Of ...

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• 4 March

  Amazon seeks to bury legal battle over Indian partner Future’s assets

    Bloomberg Amazon.com Inc and its sparring partner Future Retail Ltd. will hold talks to resolve a dispute over the sale of the latter’s assets to Reliance Industries Ltd, a move that could end a bitter litigation that delayed payments to bondholders and deepened losses for Future’s former-billionaire founder. During a Supreme Court hearing Thursday, Future’s lawyers agreed to a ...

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• 4 March

  US initial jobless claims fell last week by more than forecast

    Bloomberg Applications for US state unemployment insurance fell by more than forecast to the lowest level since the start of the year, as Covid-19 cases decline and restrictions ease. Initial unemployment claims decreased by 18,000 to 215,000 in the week ended February 26, Labor Department data showed Thursday. The median estimate called for 225,000 applications in a Bloomberg survey ...

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• 4 March

  EU can slash its Russian gas imports by a third, IEA says

  

    Bloomberg The European Union can slash imports of Russian gas by a third within a year by increasing purchases from elsewhere, ramping up renewables and boosting energy efficiency, according to the International Energy Agency. Under a 10-point plan published Thursday, the IEA said that efforts to phase out Russian gas can still be compatible with the bloc’s climate ambitions. ...

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• 4 March

  UK’s richest woman gets £300m annual pay

    Bloomberg Even after a salary cut, Denise Coates’ paycheck is hard to beat. The 54-year-old founder and co-chief executive officer of Bet365 Group Ltd got about 300 million pounds ($400 million) in pay and dividends in the year to March 2021, according to a registry filing, taking her total pay from the online bookmaker’s past two financial years to ...

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• 4 March

  Finnish utility halts all new investments in Russia

  

    Bloomberg Finland’s Fortum Oyj will stop all new investment projects and cut the number of its power plants in Russia, pulling back just as it looks to bolster energy generation at home. The utility is following global energy giants from BP Plc to Exxon Mobil Corp. in retreating from Russia after President Vladimir Putin’s invasion of Ukraine. While Fortum ...

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• 4 March

  Stocks reverse early gains as commodity prices surge

  

    Bloomberg Stocks reversed early gains on Thursday. Europe’s Stoxx 600 Index was slightly lower and most US futures slipped. Utilities led declines, while mining and energy stocks advanced as oil soared to the highest level since 2008. Commodities markets from metals to oil and gas have been upended by the Ukraine crisis as big corporates withdraw from Russia, lenders ...

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• 4 March

  Hong Kong dollar’s slide to two-year low is about to get worse

  

    Bloomberg The Hong Kong dollar is poised for steeper losses as impending Federal Reserve rate hikes exacerbate capital outflows triggered by the deadliest Covid outbreak in the city. The currency extended its drop to the lowest in more than two years and option-implied volatility indicates a 32% probability that it could fall to the weak end of its 7.75-7.85 ...

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• 3 March

  Adnic to start UAE National Training Program ‘Emkanati’

    ABU DHABI / WAM Abu Dhabi National Insurance Company (Adnic), one of the leading regional multi-line insurance providers for corporates and individuals in the UAE, has launched a new UAE National Training programme ‘Emkanati’, in line with company’s Emiratisation strategy. As part of “Emkanati”, national employees have been selected to undergo a training in Adnic’s business underwriting divisions. The ...

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