March, 2018

• 25 March

  ADNIC congratulates UAE nationals on Emirati programme completion

  Abu Dhabi / Emirates Business Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers for corporates and individuals, congratulates the second tranche of UAE nationals who have graduated from its Emirati program, facilitated by the Emirates Institute of Banking and Financial Studies (EIBFS). ADNIC enrolled all recruits in an intensive development program at EIBFS designed ...

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• 25 March

  Trump may be helping Canada revive LNG export industry

  

  Bloomberg US President Donald Trump may be helping to revive Canada’s dream of a liquefied natural gas export industry to supply growing markets in Asia. The tariffs Trump formally ordered against $50 billion in Chinese goods threaten to raise construction costs for LNG projects in Texas and Louisiana, providing a leg up to rival projects on Canada’s Pacific Coast. With ...

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• 25 March

  China’s Sinopec offers record dividend as refining boosts profit

  

  Bloomberg China Petroleum & Chemical Corp., the world’s biggest refiner, will pay a record-high dividend as its massive fuels and chemical segments helped it post a nearly 10 percent increase in full-year profit. Net income climbed to 51.2 billion yuan ($8.1 billion), the company known as Sinopec said in a statement to the Shanghai stock exchange on Sunday. The company ...

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• 25 March

  Alberta looks beyond oil industry as crash leaves balanced budget far off

  Bloomberg Alberta is looking beyond its oil industry as it works to end years of red ink. Still, a recovery to balanced budgets is a long ways off. Canada’s top oil-producing province projected a narrower budget deficit next year, despite declining revenue from non-renewable resources. Wh-ile it expects that revenue stream to rebound in future years, by the time the ...

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• 25 March

  Cheniere faces ruling on gas leak US sees as ‘serious hazard’

  

  Bloomberg America’s first exporter of liquefied natural gas from shale is awaiting a federal ruling on whether it can restart storage tanks it was forced to shut after a leak. Regulators ordered Cheniere Energy Inc. to take two of the five tanks at its Sabine Pass LNG export terminal in Louisiana out of service last month, citing a potentially “serious ...

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• 25 March

  US shoppers, China suppliers face hit from Trump levy

  

  Bloomberg President Donald Trump’s move to slap tariffs on at least $50 billion in Chinese imports is likely to be bad news for many of China’s exporters—as well as Americans who like Guess jeans or Nike sneakers. A vast amount of items used by US consumers—from Under Armour leggings to Bath & Body Works shower gel and Samsonite luggage—are sourced ...

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• 25 March

  Uber reaches deal on Southeast Asian sale to Grab

  

  Bloomberg Uber Technologies Inc. has reached an agreement to sell its Southeast Asian ride-hailing business to rival Grab and could announce the deal as early as Monday morning in Singapore, people familiar with the matter said. The agreement—which includes all of Uber’s operations in Southeast Asia as well as Uber Eats in the region—gives Uber a stake of between 25 ...

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• 25 March

  China’s tit-for-tat tariffs may boost US metal makers

  Bloomberg China’s plan to counter US import tariffs may throw global aluminum and steel traders into a tizzy, but the net result could be a boon for American primary-metal producers. The retaliatory plan to slap tariffs on US aluminum scrap and some steel products may boost American supplies, lowering raw-material prices, says Zaner Group LLC’s Peter Thomas. That could coax ...

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• 25 March

  SoftBank to invest $150mn in Loggi

  Bloomberg SoftBank Group Corp.’s Vision Fund is looking to invest as much as $150 million in Loggi, a Brazilian-based platform that matches couriers to shippers, according to people familiar with situation. A similar model to many ride-hailing apps, the system flags delivery requests to nearby couriers, known as motoboys—or motorcycle messengers. The fee and route is calculated by the app. ...

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• 25 March

  Singapore wealth fund GIC puts China as Silicon Valley’s equal

  

  Bloomberg After hitting pay dirt with investments in Alibaba Group Holding Ltd. and Xiaomi Corp., Singapore sovereign wealth fund GIC Pte is giving China as much attention as it does Silicon Valley in the search for the next big thing in tech. Valuations for some tech companies globally may be too high, and what differentiates a good investor from an ...

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