March, 2021

• 10 March

  UK shop sales accelerate as end of lockdown nears

  Bloomberg UK retail sales growth accelerated in February as government’s roadmap to end coronavirus lockdown spurred purchases of back-to-school items, an industry survey showed. The increase of 1% last month compared with a gain of 0.1% a year ago and average growth of 0.6% for the past three months, according to the report by the British Retail Consortium and KPMG. ...

  Read More »
• 10 March

  US economy ready to surge with big stimulus, fast vaccines

  

  Bloomberg As the House is poised to send the $1.9 trillion Covid-19 relief plan to President Joe Biden for his signature, providing an economic boost that will last long after $1,400 stimulus checks start arriving in Americans’ accounts this month, the US economic outlook is much sunnier than it looked in early January. The latest Bloomberg monthly survey of economists ...

  Read More »
• 10 March

  Vodafone seeks $2.4b from Vantage Towers IPO

  Bloomberg Vodafone Group Plc is looking to raise 2 billion euros ($2.4 billion) from an initial public offering of its European mobile-phone towers unit in Frankfurt, in what will be one of the region’s biggest stock market listings this year. The UK telecommunication giant plans plans to sell shares in Vantage Towers AG at 22.50 euros to 29 euros apiece, ...

  Read More »
• 10 March

  Puerto Rico files debt cutting plan to bankruptcy court

  

  Bloomberg Puerto Rico is asking the court overseeing its record bankruptcy to consider a revised restructuring plan to cut $18.8 billion of bond debt backed by the central government, reviving a restructuring effort that has largely been stalled for a year by the coronavirus pandemic. Puerto Rico’s financial oversight board filed its debt adjustment plan, which hews to the terms ...

  Read More »
• 10 March

  China’s $1.3trn stock rout tests limit of intervention

  

  Bloomberg A world-beating rally in Chinese stocks has turned into the biggest rout globally, shocking investors with the severity of its reversal and evading state efforts to slow the pace of losses. In just 14 trading days, the nation’s benchmark CSI 300 Index has plummeted 14% from a 13-year high. That compares with a 2.2% drop by the MSCI All-Country ...

  Read More »
• 10 March

  Stocks, US futures edge higher as cyclicals lead

  

  Bloomberg European stocks edged higher with US futures on Wednesday as cyclical shares outperformed and the rally in the technology sector appeared to lose steam. The Stoxx Europe 600 Index swung between losses and gains as automakers, energy firms and banks led the gauge. The exception was mining stocks, which hit a three-week low amid declining iron ore prices. Just ...

  Read More »
• 10 March

  UAE joins ‘big players club’ with Barakah achievement

  

  ABU DHABI / WAM The announcement of the issuance of an operating licence for Unit 2 of the Barakah Nuclear Power Plant is another example of how the UAE continues to implement its mega development projects despite exceptional circumstances and challenges imposed by the outbreak of Covid-19. The Barakah project has taken the development path of the UAE to advanced ...

  Read More »
• 10 March

  Hub71 set to drive commercial opportunities for global startups

  

  ABU DHABI / WAM Hub71, Abu Dhabi’s global tech ecosystem, is doubling down on scaling startups and enabling founders by introducing a value creation programme. Tech startups from around the world will benefit from increased access to market as Hub71 actively facilitates business opportunities to enable their sustainable growth, globally. Hub71 launches its programme by embarking on a four-month roadshow ...

  Read More »
• 10 March

  Dubai extends freeze on government fees till 2023

  

  Dubai / WAM In line with the directives of Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum, Dubai Crown Prince and Chairman of The Executive Council of Dubai HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum has ordered the extension of the freeze on Dubai government fees ...

  Read More »
• 10 March

  Hope Probe ready for science data gathering

  DUBAI / WAM The Emirates Mars Mission (EMM), the first interplanetary exploration undertaken by an Arab nation, on Tuesday announced the completion of its commissioning and testing phase and its readiness for transition to its science orbit. The completion of testing is ahead of schedule and the transition to science manoeuvres will take place earlier than planned. “We have completed ...

  Read More »