March, 2019

• 31 March

  ADGM forms strategic cooperation with Hainan Provincial Government

  

  Abu Dhabi / WAM The Abu Dhabi Global Market (ADGM), and the Hainan Provincial Government have announced the signing of a Memorandum of Understanding to further boost the economic and financial collaboration between China and the UAE via Hainan Free Trade Zone and ADGM’s international financial centre and financial free zone. The signing took place on the sidelines of the 2019 ...

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• 31 March

  AED1bn power block to come up at EGA’s Jebel Ali smelter

  

  Dubai / WAM Emirates Global Aluminium (EGA), Mubadala and Dubal Holding on Sunday officially broke ground on a new AED1 billion state-of-the-art power block at EGA’s Jebel Ali smelter in Dubai. EGA is the largest industrial company in the UAE outside oil and gas, and is jointly owned by Mubadala Investment Company and Dubal Holding. The ground-breaking ceremony was held ...

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• 31 March

  Arab Regional Tax Forum opens in Dubai

  

  Dubai / WAM Arab Regional Tax Forum has discussed ways of balancing tax policies, Arab countries’ competitiveness in managing them, as well as the challenges facing these nations in pursuing their tax policies. The two-day forum which opened on Sunday at the Grand Hyatt Hotel in Dubai, is organised by the Ministry of Finance (MoF), and the Arab Monetary Fund ...

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• 31 March

  Eskom’s $2bn plant is defective

  

  Bloomberg One of South Africa’s newest power plants, designed to supply the grid during peak-use periods, is defective and has been limited to operate at lower capacity. The deepest power cuts in more than a decade imposed by cash-strapped, state-owned Eskom Holdings SOC Ltd this month reduced the chances of the continent’s most-industrialised economy posting a stronger recovery from last ...

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• 31 March

  China’s factory rebound heralds improvement in global outlook

  

  Bloomberg China’s first official economic gauge for March signalled a stabilisation in the world’s second-largest economy, easing one of the biggest worries for the global outlook. The manufacturing purchasing managers index rose to 50.5 from 49.2 last month, the biggest increase since 2012 and exceeding all estimates by economists. Both new orders and new export orders — leading sub-gauges that ...

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• 31 March

  China suspends tariff on US autos, parts

  Bloomberg China continues to suspend retaliatory tariffs on US autos and car parts from April 1. The end date for the suspension may be given at a later date, the Ministry of Finance said in a statement on its website. It added that China hopes to continue talking with the US about trade issues and to make efforts to end ...

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• 31 March

  Coca-Cola turns to grandmas’ recipes in India

  

  Bloomberg First came a type of cumin-flavoured sparkling water. Next up is a mix of unripe mangoes and spices. After that could be buttermilk. Then maybe some potions based on a 2,000 year-old system of traditional medicine. That’s a rough outline of Coca-Cola Co’s strategy in India as it tries to outrun the global decline in consumption of sugary sodas. ...

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• 31 March

  Ex-Tata executives start fund to spur change at Indian firms

  

  Bloomberg Some ex- Tata Group executives have teamed up with a veteran investor to seek to bring change at Indian companies, in a rare attempt to influence management in a country where shareholder activism has largely failed to take hold. Former Tata employees including Mukund Rajan and Govind Sankaranarayanan have partnered with Ajit Dayal, the founder of mutual fund firm ...

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• 31 March

  Rare public protest flags investor anger in Hyflux slump

  

  Bloomberg A rare public protest in Singapore underscored mounting anger among investors set to suffer sharp losses in one of the country’s highest-profile corporate debt restructurings. The catastrophic slump of the once-vaunted water and power company, Hyflux Ltd, has stunned debtholders, who stand to lose about 90 percent. About 400 to 500 of those individual investors gathered in a downtown ...

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• 31 March

  Facebook CEO calls for internet regulations

  

  Bloomberg Facebook Inc Chief Executive Officer Mark Zuckerberg called for new global regulations governing the internet, recommending overarching rules on hateful and violent content, election integrity, privacy and data portability. In a statement that was also published as an op-ed in the Washington Post, Zuckerberg said the company is seeking regulations that would set baselines for prohibited content and require ...

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