March, 2021

• 7 March

  Aston Martin to make electric vehicles in UK

  Bloomberg Aston Martin Lagonda Global Holdings Plc will build its new electric cars in the UK from 2025, the company’s biggest shareholder told the Financial Times in an interview. Chairman Lawrence Stroll said its battery sports car and sport utility vehicle would be produced at plants in England and Wales respectively, according to the newspaper. The Canadian billionaire led a ...

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• 7 March

  Italy to recruit consulting firm McKinsey for EU recovery funds

  

  Bloomberg A decision by the government of Italian Prime Minister Mario Draghi to recruit consulting firm McKinsey & Co. for help with the European Union’s recovery package has prompted disquiet within his coalition. The company will advise the finance ministry and help to accelerate the drafting of Italy’s plan to spend its 209 billion-euro ($250 billion) share of the EU ...

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• 7 March

  German drugmaker weighs $10b IPO

  Bloomberg Cheplapharm Arzneimittel GmbH, the German drugmaker, is weighing plans for an initial public offering in what could be one of Europe’s largest share sales of 2021. Greifswald-based Cheplapharm is speaking with advisers about a potential listing as soon as this year, the people said, asking not to be identified discussing confidential information. A share sale could value the business ...

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• 7 March

  Canada set to build national carbon trading marketplace

  

  Bloomberg Canada is a step closer to building a nationwide marketplace to trade carbon credits as part of the Trudeau government’s bid to curb greenhouse gas emissions in the country. The federal government released draft regulations that will create a domestic market for trading carbon credits. The move will allow companies in industries such as agriculture and forestry to voluntarily ...

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• 7 March

  Europe’s vaccine missteps alarm global stock investors

  

  Bloomberg Europe’s vaccine blunders are alarming some of the world’s top investors, who see economic growth imperiled by a slow pace of business re-openings. While the region’s stocks are riding the global rally and faring well against the selloff in US big tech, prolonged lockdowns threaten the economic recovery. Investors are taking notice. European equity funds have recorded three weeks ...

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• 7 March

  Saudi stocks lead Gulf gains on surging oil bets

  

  Bloomberg Saudi stocks climb the most in the Gulf, tracking a surge in oil prices after Opec+ shocked the markets with a decision to keep supply in check. Aramco advanced the most in five months. The Tadawul All Share Index rises as much as 1.4%, extending gains this year to 7.9%. Saudi Basic Industries, Saudi Aramco and Al Rajhi Bank ...

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• 7 March

  Tech stocks lose $1.6trn in worst streak in six months

  Bloomberg The Nasdaq 100 Index capped a third straight week of declines that shaved off $1.6 trillion in market value from high-flying technology stocks amid a rise in US Treasury yields. The slump eased as benchmark rise alongside S&P 500 Index, gaining 1.6%. Still, Nasdaq ended the week 1.9% lower, marking the longest streak of declines since September. “Higher interest ...

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• 7 March

  UAE sends more humanitarian aid to flood-hit people in Sudan

  

  KHARTOUM / WAM The Emirates Red Crescent (ERC) continues to provide additional humanitarian aid to those affected by floods which swept through a number of Sudanese states last year, as part of its efforts to address the repercussions of the disaster that is still affecting people in some areas. In this context, the ERC dispatched three new aid convoys to ...

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• 7 March

  Digital payment transactions in UAE reach $18.50b in 2020

  

  Dubai / WAM The Telecommunications and Digital Government Regulatory Authority has appreciated the data insights by the World Digital Report 2021, published in partnership between “We Are Social” and “Hoot suite”. The report sheds light on the digital lifestyle in the UAE, based on group data that monitored individuals and companies’ behaviour during the year 2020, which witnessed the coronavirus ...

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• 7 March

  UAE, Spain join hands for tech advancement

  

  DUBAI / WAM The UAE’s Ministry of Industry and Advanced Technology (MoIAT) and Spain’s Ministry of Science and Innovation (MSI) signed a Memorandum of Understanding (MoU) that will see them develop an advanced technology framework over the next three years. The framework aims to foster bilateral collaboration in the areas of technological advancement, technology transfers and the deployment of key ...

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