March, 2019

• 16 March

  DoE lights up ‘2019 Special Olympics’ with clean power

  Abu Dhabi / WAM The Abu Dhabi Department of Energy (DoE), the government entity in charge of ensuring the energy sector’s excellence and sustainability in the emirate and official partner of the Special Olympics World Games Abu Dhabi 2019, launched the “Sustainable Energy At The Venues” initiative as part of its “Powering the Olympics” campaign. The campaign seeks to create a ...

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• 16 March

  UAE-Kyrgyzstan to boost cooperation in key sectors

  

  BISHKEK / WAM The UAE-Kyrgyzstan Joint Economic Committee’s first meeting was held in Bishkek on Saturday and co-chaired by Sultan bin Saeed Al Mansouri, Minister of Economy, and Zhenish Razakov, Deputy Prime Minister of Kyrgyzstan. High on the meeting’s agenda are several programmes and mechanisms to boost cooperation in 13 vital sectors, including trade, investment, Halal industry, financial services, industrial ...

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• 16 March

  China growth mystery scares global economy in weakest shape in years

  

  Bloomberg The growing mystery of where China’s rapid slowdown is headed may become the biggest risk on the horizon, even as Brexit and a solution to US-China trade tensions are kicked into the long grass. The global economy’s in its weakest shape since the financial crisis a decade ago, Bloomberg Economics analysis shows. And the reminders are all around: China ...

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• 16 March

  China’s Royole seeks $1bn in funding round

  Bloomberg Royole Corp., a maker of flexible displays, is seeking about $1 billion in a funding round ahead of an initial public offering, people familiar with the matter said. The Shenzhen, China-based company is seeking a valuation of at least $8 billion in the round as it seeks to expand its sales and marketing and research facilities, the people said, ...

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• 16 March

  India trade deficit narrows in Feb

  

  Bloomberg India’s trade deficit narrowed more than estimated in February from a month ago, as imports fell owing to a sharp drop in oil purchase cost. The gap between exports and imports was $9.6 billion last month, compared with $14.7 billion in January, data released by the commerce ministry showed. The deficit is narrower than the $13.7 billion median estimate ...

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• 16 March

  Senior Nissan, Mitsubishi executives exit

  

  Bloomberg Executives from Nissan Motor Co. and Mitsubishi Motors Corp. are exiting as part of a wider shuffle among the top ranks of the Japanese automakers’ alliance with Renault SA following the arrest of Carlos Ghosn in November. Arun Bajaj, the alliance’s senior vice president for human resources, exited Nissan as of March 11 after a leave of absence, the ...

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• 16 March

  Philippines tycoon offers to build new dam as taps run dry

  

  Bloomberg Philippine tycoon Enrique Razon is pushing to build a new dam east of the capital to prevent another water shortage hitting thousands of people in Metro Manila as the dry season begins. Wawa Dam in Rizal province can be the nearest major source of bulk water and provide 80 million liters per day by 2021 and 540 million liters ...

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• 16 March

  Hong Kong plans to spend $6.4 billion to defend currency peg

  

  Bloomberg This round of currency intervention in Hong Kong is far from over. That’s according to analysts, who’re watching the interplay between the amount of money in the city’s financial system and local borrowing costs. Shorting the Hong Kong dollar will remain profitable until the latter starts to go up sharply, and the monetary authority will spend at least another ...

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• 16 March

  New Zealand to change gun laws after mosque massacre

  

  Bloomberg New Zealand Prime Minister Jacinda Ardern said she will change gun laws as the country reels from a terrorist attack at two mosques that left 49 people dead and several still fighting for their lives. “While the nation grapples with a form of grief and anger that we have not experienced before, we are seeking answers,” Ardern told a ...

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• 16 March

  Indonesia’s anti-graft agency names key Joko Widodo ally as suspect

  

  Bloomberg The head of an Indonesian political party backing President Joko Widodo’s bid for a second term has been named a suspect in a graft case involving job postings at the Religious Affairs Ministry. A politician only identified by his initials RMY, and two ministry officials are suspects, said Laode Muhammad Syarif, deputy of the Corruption Eradication Commission, in a ...

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