TimeLine Layout

March, 2021

  • 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 ...

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  • 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, ...

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  • 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 ...

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  • 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 ...

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  • 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 ...

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  • 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 ...

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  • 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 ...

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  • 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 ...

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  • 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 ...

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  • 10 March

    Abu Dhabi Chamber, Israeli embassy discuss ways to support businesses

    Abu Dhabi / WAM Mohammed Thani Al Rumaithi, Chairman of the Federation of the UAE Chambers and Chairman of the Abu Dhabi Chamber of Commerce and Industry, has received Eitan Na’eh, Head of Mission at the Israeli Embassy in Abu Dhabi, at the Chamber’s premises in Abu Dhabi. During the meeting, both sides discussed means of developing trade relations between ...

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