March, 2021

• 30 March

  Rout in China tech shares is a buying opportunity for some

  

  Bloomberg The massive selloff in US-listed shares of Chinese technology companies isn’t linked to their fundamentals and makes for a bigger buying opportunity, according to Citigroup Inc. The brokerage reiterated buy ratings on Baidu Inc., Tencent Music Entertainment Group and Vipshop Holdings Ltd. following what it called an “unfortunate dislocation” of their share prices. Gary Dugan, chief executive officer at ...

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• 28 March

  UAE ranked among top 20 in 16 indexes related to foreign trade

  

  Abu Dhabi / WAM The UAE was ranked among the 20 leading countries in 16 global competitiveness indexes related to foreign trade in 2020, marking a new achievement and consolidating country’s status as a key centre of international trade. The Federal Competitiveness and Statistics Centre documented the international references confirming these achievements, most notably the World Competitiveness Yearbook (WCY) published ...

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• 28 March

  Iraq discussing $7bn energy deal with Total, says minister

  

  Bloomberg Iraq is discussing a “giant” agreement with French oil giant Total SE to build large infrastructure installations, develop oil fields and produce gas, Oil Minister Ihsan Abdul Jabbar told Asharq News in an interview. The minister said he expected the contract to be finalised before July. The relationship with Total will be based on targeting low-carbon industry and capturing ...

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• 28 March

  Abu Dhabi, Uganda to strengthen trade ties

  

  ABU DHABi / WAM Mohamed Helal Al Mheiri, Director-General of the Abu Dhabi Chamber, has discussed with Zaake W. Kibedi, Ambassador of Uganda to the UAE, means of expanding trade and investment relations between the two countries in a number of key sectors. The meeting, held at the Chamber’s tower in Abu Dhabi, touched upon bolstering the economic cooperation between ...

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• 28 March

  UAE condemns attempted drone attacks on Saudi

  Abu Dhabi / WAM The UAE has strongly denounced the Iran-backed terrorist Houthi militias for attempting to target civilians and civilian objects in a systematic and deliberate manner in the southern region of Saudi Arabia with two explosive drones, which were intercepted by Coalition forces. In a statement, the Ministry of Foreign Affairs and International Cooperation (MoFAIC) said the UAE ...

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• 28 March

  Sharjah, Singapore to boost collaboration in key fields

  

  Sharjah / WAM The Department of Government Relations (DGR) in Sharjah, and the Embassy of Singapore in the UAE, have explored ways to further strengthen collaboration in sustainable development, education, and infrastructure. The two parties also discussed the establishment of investment partnerships in new and emerging sectors which they are prioritising to keep abreast of the shifts in market demand. ...

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• 28 March

  Mubadala to invest in ophthalmic lens innovator Rodenstock

  

  Abu Dhabi / WAM Mubadala Investment Company on Sunday announced that it will invest in Rodenstock Group, the leading manufacturer of premium ophthalmic lenses, as a minority investor alongside Funds advised by Apax (Apax Funds). Founded in 1877, Rodenstock has been a global leader in prescription lenses for over 140 years, with a strong track record of innovative product development ...

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• 28 March

  Bee’ah to promote sustainability at ‘Ripe Market’

  

  Sharjah / WAM Bee’ah announced it has signed a Memorandum of Understanding with Ripe Exhibitions Organiser Company to provide waste management services at The Ripe Market inside the Dubai Police Academy Park, a weekly community event that supports UAE home-grown businesses and local farmers. As part of the agreement, Bee’ah will work closely with Ripe Market’s facilities team to oversee ...

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• 28 March

  UAE reports 438,706 total recoveries from Covid-19

  

  Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP) conducted 230,734 additional Covid-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. In a statement on Sunday, the ministry stressed its aim to continue expanding the scope of testing nationwide to facilitate the early detection of coronavirus cases and carry out the necessary treatment. As part ...

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• 28 March

  Abu Dhabi’s ADFD allocates $200m to spur UAE exports

  

  ABU DHABI / WAM The Abu Dhabi Fund for Development (ADFD) Board of Directors approved the allocation of AED735 million ($200 million) for Abu Dhabi Exports Office (Adex) to accommodate export financing that will help spur the growth of exports of UAE national companies. The 2021 budget allocation increased by 33.3 percent, with AED184 million ($50 million) over the 2020 ...

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