March, 2022

• 15 March

  Tencent, Alibaba have erased $1trn in value over last year

  

    Bloomberg Chinese technology giants Tencent Holdings Ltd. and Alibaba Group Holding Ltd. have lost more than $1 trillion in combined market value since the selloff in Hong Kong stocks began 13 months ago. The two tech powerhouses account for more than half of the $2.1 trillion in total losses for Hang Seng Tech Index members since the gauge’s February ...

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• 15 March

  European stocks fall as investors weigh inflation, Fed risks

  

    Bloomberg European stocks retreated as investors braced for tomorrow’s expected Federal Reserve policy tightening and weighed the impact of soaring inflation on economic growth. The Stoxx Europe 600 slumped 2% at 8:56 am in London. Miners fall the most, with commodities retreating as coronavirus outbreaks in China threaten to disrupt the country’s economic recovery. Consumer products and services as ...

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• 15 March

  Apple ends below key level as Foxconn closes plant in China

    Bloomberg Apple Inc shares fall, closing below their 200-day moving average for the first time since June, after the iPhone maker’s supplier Foxconn halted operations at its Shenzhen sites following a government-imposed lockdown. Shares dropped as much as 2.7%, ending at their lowest since November. The decline erased more than $67 billion off Apple’s market capitalisation, putting it under ...

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• 15 March

  ERC’s Ramadan programmes to benefit over 2m people globally

  

    ABU DHABI / WAM Upon the directives of His Highness Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region and Chairman of the Emirates Red Crescent (ERC), the ERC has intensified its Ramadan programmes for 2022, which will benefit over 2.1 million people in the UAE and the rest of the world. They comprise Ramadan Iftar, ...

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• 15 March

  UAE e-commerce market value rises to over $5 billion in 2021

  

    Dubai / WAM The total e-commerce in the UAE, surged to over $5 billion in 2021 and is projected to surpass $8 billion by 2025, according to a data released by EZDubai, a dedicated e-commerce zone in Dubai South, in partnership with Euromonitor International, the world’s leading provider for global business intelligence, market analysis, and consumer insights. More consumers ...

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• 15 March

  UAE strongly condemns missile attack on Erbil

    Abu Dhabi / WAM The UAE has strongly condemned the ballistic missile attack on Erbil, in Iraqi Kurdistan. The Ministry of Foreign Affairs and International Cooperation in a statement last night expressed the UAE’s strong condemnation and denunciation of the attacks that are aimed to destabilise Iraq in violation of the principles of international law. The ministry affirmed the ...

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• 15 March

  Edge showcases its military, defence products in Riyadh

  

    ABU DHABI / WAM Edge group has concluded its successful participation at the World Defense Show (WDS 2022), held in Riyadh, Saudi Arabia, with the signing of key strategic partnership agreements, visits of several dignitaries to its booth, as well as a cutting-edge displays of the latest military and defence products and solutions. During the four-day show, Edge unveiled ...

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• 15 March

  Airbus displays mission-critical tech in Dubai

  Dubai / WAM Airbus Secure Land Communications is exhibiting its mission-critical communication and collaboration solutions at the World Police Summit 2022, which is taking place until March 17 at the Dubai Exhibition Centre, Expo 2020 Dubai. Selim Bouri, Head of Middle East, Africa and the Asia Pacific for Airbus Secure Land Communications, said, “As the threat landscape continues to evolve, ...

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• 15 March

  Abu Dhabi’s Sanad, Thales to collaborate on aviation services

  

    Abu Dhabi / WAM Sanad, a wholly owned subsidiary of Mubadala Investment Company, signed a memorandum of understanding (MoU) with Thales to explore areas of collaboration in the fast-developing domains of industrial services for airport security, air traffic and avionics systems. The MoU was signed by Mansoor Janahi, Group CEO of Sanad, and Bernard Roux, CEO of Thales in ...

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• 15 March

  UAE, Germany discuss cooperation in hydrogen, industrial fuel sectors

  

    Dubai / WAM The UAE-German Working Goup, an initiative by the two countries to boost cooperation in hydrogen and industrial fuels, convened its first meeting in Dubai to discuss a set of future directions and priorities in this regard and ways to unify the vision and goals for cooperation in the coming years. It also discussed directions supporting the ...

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