March, 2019

• 26 March

  Uber buys Careem in $3.1 billion deal

  

  Dubai / WAM Uber and Careem have reached an agreement for Uber to acquire Careem for $3.1 billion, consisting of $1.7 billion in convertible notes and $1.4 billion in cash. The acquisition of Careem is subject to applicable regulatory approvals. The transaction is expected to close in Q1 2020. Uber will acquire all of Careem’s mobility, delivery, and payments businesses ...

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• 26 March

  Foreign assets at UAE central bank reach AED359bn

  ABU DHABI / WAM Continuing its upward streak for the second straight month, the total foreign currency assets held by the Central Bank of the UAE increased to AED359 billion by the end of February 2019, a growth of 3.2 percent from AED348 bn in the preceding month, as current account balances and deposits with foreign banks strengthened to AED289.76 ...

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• 26 March

  Gulf Craft to showcase seven novel vessels at 7th Kuwait Yacht Show

  

  Kuwait / Emirates Business Gulf Craft, the Emirates pioneer builder of luxury yachts and leisure boats, and Al Boom Marine, its dealer in Kuwait, explore a world of opportunities at the 7th international edition of the Kuwait Yacht Show 2019. The shipyard returns to the show with a fleet of 7 yachts and boats, boasting its leading position in the ...

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• 26 March

  Ideas Abu Dhabi to tackle complex global challenges

  

  Emirates Business Ideas Abu Dhabi, a two-day ideas festival bringing together some of the brightest minds from the UAE and around the world to tackle complex global challenges, returns for the third time on March 27-28. Part invite-only Forum, part public Festival, Ideas Abu Dhabi will be held at New York University Abu Dhabi (NYUAD), on Saadiyat Island and features ...

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• 26 March

  Emirates to hire new cabin crew from Lebanon

  Beirut / Emirates Business Emirates, the world’s largest international airline, is looking for Lebanese candidates to join its multinational cabin crew team. The Dubai-based airline is holding two Cabin Crew recruitment open days at Beirut and Jounieh. The Open Day at Beirut will be held at 9.00am sharp on March 30 at Movenpick Hotel Beirut, General de Gaulle Avenue Raoucheh, ...

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• 26 March

  18 countries to highlight their products at Sharjah watch and jewellery show’

  

  SHARJAH / WAM A total of 18 countries from around the world will be participating in the 46th Watch and Jewellery Middle East Show, which is due to be held from April 2-6 according to Expo Centre Sharjah. A top official said that Expo Centre Sharjah has completed necessary preparations to host the largest and longest running event for precious ...

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• 26 March

  Fujairah Crown Prince opens ‘FUJCON 2019’

  FUJAIRAH / WAM His Highness Sheikh Mohammed bin Hamad bin Mohammed Al Sharqi, Crown Prince of Fujairah, highlighted the importance of preserving the maritime environment and maritime resources to achieving sustainable development, in line with international environmental conventions, most of which were ratified by the UAE. He also noted the directives of HH Sheikh Hamad bin Mohammed Al Sharqi, Supreme ...

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• 26 March

  Stocks climb as Treasury rally takes breather; dollar rises

  

  Bloomberg US stocks rallied and Treasuries fell as investor concern over an economic downturn showed signs of easing. The dollar edged higher. Every industry in the S&P 500 Index advanced, with technology and consumer shares leading gains. The yield on benchmark US debt rose after closing below 2.4 percent though the spread between three-month and 10-year rates remained in negative ...

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• 26 March

  Pound advances as top Brexiteer revives hopes for PM’s deal

  Bloomberg The pound climbed as Brexiteer Jacob Rees-Mogg signalled he could back the UK Prime Minister’s deal to leave the European Union, as he kept alive the possibility that her plan might pass through parliament, which did not. Sterling reversed earlier declines to lead gains across the Group-of-10 currencies as Rees-Mogg said Theresa May’s deal was “better than not leaving ...

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• 26 March

  A360 Summit spotlights global industry trends

  

  Dubai / WAM The Abundance 360 Summit (A360), being held for the first time in Dubai highlighted, during its first day, the latest global industry trends and challenges that are presented by the evolvement of technology. Delegates representing top financial institutions, unicorn tech companies, representatives of some of the region’s most renowned family offices and senior management of Fortune 500 ...

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