March, 2022

• 9 March

  US futures, Europe stocks rise as dip buyers return

  

  Bloomberg US index futures and European stocks rose as dip buyers wagered the global economic impact of escalating sanctions on Russia is already reflected in market prices. Contracts expiring later this month on the S&P 500 and Nasdaq 100 gauges added at least 1.2% each after US equities tumbled to a nine-month low. Banks and automakers boosted Europe’s Stoxx 600 ...

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• 9 March

  China stocks tumble on Norway fund’s snub, inflation angst

  

    Bloomberg A move by the world’s largest sovereign wealth fund to snub a Chinese apparel firm and growing concern that surging oil prices will complicate policy makers’ easing path sparked fresh pessimism over Chinese and Hong Kong’s stocks. Stock benchmarks in China and Hong Kong both tumbled by more than 3% before paring losses sharply. The CSI 300 closed ...

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• 9 March

  Bloomberg Media launches its first creative studio in UAE

  

    DUBAI / WAM Bloomberg Media is expanding in the Middle East and Africa with the creation of a regional studio in Dubai, established by Bloomberg Media Studios, its branded content division. The studio will comprise a full team of creative and business professionals and will serve the growing roster of clients across the region who are looking to engage ...

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• 9 March

  Agthia Group revenues rise to AED3.07 billion in 2021

  

    ABU DHABI / WAM Agthia Group on Tuesday announced that the group’s net revenue reached AED3.07 billion for 2021, equivalent to 49% year-on-year growth compared to same period last year, following the consolidation and integration of key acquisitions into the business. The Group’s net profit stood at AED216 million compared to AED34 million in the previous year, in which ...

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• 9 March

  Sheikha Fatima wishes Emirati women on Int’l Women’s Day

    ABU DHABI / WAM 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 Foundation, congratulated Emirati women and all women around the world on the occasion of International Women’s Day on Tuesday. “Every day, women are proving that hard work makes ...

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• 9 March

  Al Hamra to invest AED1bn in Ras Al Khaimah realty portfolio

  

    RAS AL KHAIMAH / WAM Ras Al Khaimah-based real estate development and investment company Al Hamra has unveiled an ambitious five-year roadmap, from 2023-2027, to drive sustained growth through strategic developments, in line with the vision of Ras Al Khaimah’s leadership to establish the emirate as one of the leading investment, business, residential and tourism destinations. The company has ...

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• 9 March

  Deal signed to boost trade between Arab World, India

  

    ABU DHABI / WAM Buna, the cross-border and multi-currency payment system owned by the Arab Monetary Fund (AMF), on Tuesday signed a Memorandum of Understanding (MoU) with NPCI International Payments Limited (NIPL), the international arm of National Payments Corporation of India (NPCI), to support the growth of trade and investment flows between the Arab world and India. The MoU ...

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• 9 March

  Dihad exhibition to commence on March 14

    DUBAI / WAM Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, the Dubai International Humanitarian Aid and Development Conference and Exhibition — Dihad, starts next week on March 14 at the Dubai World Trade Centre. The leading humanitarian forum brings together some of the world’s philanthropic institutions, ...

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• 9 March

  Dubai Chamber guide examines economic potential in Latam

  

    DUBAI / WAM The Latin America and Caribbean (LATAM) region can be an important economic partner to help Dubai meet its new target of boosting foreign trade to AED2 trillion over the next five years, according to a new guide published by Dubai Chamber of Commerce. The guide, titled Why Latin America? features valuable insights on promising economies in ...

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• 9 March

  UAE minister meets with IMF managing director

  

    DUBAI / WAM Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, met on Tuesday with Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF). The meeting, which took place virtually, sought to discuss the UAE’s participation in the 2022 virtual Spring Meetings of the World Bank Group (WBG) and the IMF. Younis Haji Al Khoori, Undersecretary ...

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