March, 2021

• 28 March

  DBS to give up Hong Kong office space

  Bloomberg DBS Group Holdings Ltd is set to join UBS Group AG and other global banks giving up office space in pricey Hong Kong with so many staff still working from home. DBS is surrendering some floors in Swire Properties Ltd.’s One Island East tower in Quarry Bay. The lender will release two of the eight floors it currently occupies. ...

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• 28 March

  Goldman sold $10.5 billion of stocks in block-trade spree

  

  Bloomberg Goldman Sachs Group Inc. liquidated $10.5 billion worth of stocks in block trades, part of an extraordinary spree of selling that erased $35 billion from the values of bellwether stocks ranging from Chinese technology giants to US media conglomerates. The Wall Street bank sold $6.6 billion worth of shares of Baidu Inc., Tencent Music Entertainment Group and Vipshop Holdings ...

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• 28 March

  Sizzling Asia value rally has fund managers hunting for gems

  

  Bloomberg There are superlatives aplenty for the fierce comeback of Asia’s value stocks this quarter: They’re set to trounce growth peers by the most in two decades. Finance shares bested all other sectors. Last year’s abandoned market, Singapore, is now an investor darling. Even as some pockets no longer look cheap, value-focused investors say money can still be made from ...

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• 28 March

  China to work with UAE to produce ‘affordable’ vaccines, says Wang Yi

  

  Abu Dhabi / WAM China wants to work with the UAE to expedite joint production of Covid-19 vaccines to make it available and affordable to all, Beijing’s top diplomat told Emirates News Agency (WAM). The joint efforts can also explore developing multilateral cooperation to fight the pandemic, especially with Middle Eastern and African countries, and establish an international mechanism to ...

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• 28 March

  Oil’s most volatile week in months ends with a whimper

  

  Bloomberg Oil in New York barely nudged this week despite whipsawing over several days, as renewed lockdowns in some regions blunted near-term demand outlooks and muted the impact of a standstill at the Suez. West Texas Intermediate futures fall less than 1% to close the week at $60.97, while Brent crude just barely eked out a gain, snapping a streak ...

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• 28 March

  China hits back at US, Canada with sanctions

  

  Bloomberg A quarrel over allegations of human-rights abuses in China worsened as Beijing announced retaliatory sanctions on individuals in US and Canada and corporate fallout spread. Tensions have flared over reports of forced labour being used to harvest cotton in China’s western province of Xinjiang, accusations that Beijing routinely dismisses as politically motivated lies. On Saturday, China’s Foreign Ministry announced ...

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• 28 March

  US condemns attacks against Saudi Arabia

  WASHINGTON / WAM The United States strongly condemned the attacks against Saudi Arabia that struck an oil facility in Jazan. The actions by the Houthis are a clear provocation meant to perpetuate the conflict, Ned Price, Department Spokesperson said in a press statement. “This is the latest in a series of Houthi attempts to disrupt global energy supplies and threatens ...

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• 28 March

  Sharjah Chamber, Kosovo embassy explore investment opportunities

  

  Sharjah / WAM Abdullah Sultan Al Owais, Chairman of the Sharjah Chamber, received Avni Arifi, ambassador of Kosovo to the UAE, to discuss means of strengthening the economic, commercial, and investment relations between the UAE and Kosovo. Held in the presence of Raghda Hamad Taryam, Board Member, Mohammed Ahmed Amin Al Awadi, Director-General of the SCCI, and a number of ...

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• 28 March

  Ultra-fast EV chargers installed in Abu Dhabi

  

  ABU DHABi / WAM In response to growing demand for electric vehicle infrastructure (ION) the UAE-based sustainable transportation joint venture between Bee’ah and Crescent Enterprises, installed high-power, ultra-fast charging stations with a total capacity of up to 350KW, on Yas Island, Abu Dhabi. Capable of charging electric vehicles (EV) through a connection to a user interface unit, the stations can ...

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• 28 March

  Digital transformation of legal services discussed

  

  Abu Dhabi / WAM The Abu Dhabi Judicial Academy (ADJA) has organised a workshop on the “Digital Transformation of Legal Services and Amendments to the Evidence Law in Civil and Commercial Transactions”, through the Academy’s training platform. The workshop was attended by 56 commercial judges from the Court of Cassation, the Judicial Inspection, and the commercial chambers in Abu Dhabi, ...

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