March, 2018

• 7 March

  DLD to name winners of ‘Gulf Real Estate Awards’ on March 21

  DUBAI / Emirates Business Dubai Land Department (DLD) has announced that the closing ceremony for the second edition of the Gulf Real Estate Awards will take place on March 21, when the winners for the programme’s 22 categories will be announced. DLD has confirmed that over 170 entries were submitted by companies operating across various real estate fields in the ...

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• 7 March

  UAE Park in China to open in December

  

  Dubai / WAM The UAE Park in China will officially open in December this year in Nanning, the capital of the Guangxi Zhuang Autonomous Region in southern China. Dubai Municipality, which is representing the UAE in Expo 2018 China, has participated in the design of the project covering an area of 1,700 square metres. Marwan Al Mohammed, Director of General ...

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• 7 March

  US stocks pare drop, Treasuries rise, dollar surges on trade bets

  

  Bloomberg US stocks pared declines, while Treasuries rose as investors assessed the possible fallout from President Donald Trump’s push to implement punitive trade tariffs on some products. The dollar turned higher versus major peers. The S&P 500 Index remained on track for the first drop in four days, though overnight declines sparked by the resignation free-trade proponent Gary Cohn and ...

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• 7 March

  Gulf stocks down with global markets; Saudi, Egypt defy trend

  

  Reuters Gulf stocks mostly fell on Wednesday, with only Saudi Arabia resisting a broad decline in global markets after the resignation of a key White House economic adviser sparked fears of a trade war. The departure of Gary Cohn, who had opposed US President Donald Trump’s plan for tariffs and was seen as a bulwark against protectionist forces within the ...

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• 7 March

  Aramco: Peak oil demand fears overblown

  

  Bloomberg Saudi Arabia’s oil company isn’t afraid of electric vehicles. As it prepares to sell a stake in the company to investors, the CEO reassured a Houston audience that the need for petroleum isn’t going away any time soon. “I am not losing any sleep over ‘peak oil demand’ or ‘stranded resources,”‘ Saudi Aramco Chief Executive Officer Amin Nasser said ...

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• 7 March

  Chinese oil majors urge tax breaks for building gas storage, imports

  BEIJING / Reuters Top officials from China’s two largest oil and gas producers have urged the government to offer tax breaks for the building of gas storage facilities and importing liquefied natural gas (LNG) to help avoid another gas crunch in the winter ahead. Sinopec Vice President Ma Yongsheng said the central government should subsidise the construction of underground gas ...

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• 7 March

  Tesla losing top spot in solar to Sunrun

  

  Bloomberg Elon Musk is no longer leading the charge in residential solar. Tesla Inc. installed 87 megawatts of commercial and residential solar in the fourth quarter, including about 50 megawatts at homes, according to a GTM Research estimate. Rival Sunrun Inc. added 85 megawatts of residential systems in the same period, according to a statement. Counting only that part of ...

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• 7 March

  China’s pursuit of Europe trade links powers freight rail surge

  

  Bloomberg China’s efforts to revive Silk Road trading routes are proving to be a boon for a slightly less ancient mode of transportation: freight trains. The value of cargo sent between between China and Europe by rail surged more than 140 percent in the first six months of 2017, according to a new report from the Center for Strategic and ...

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• 7 March

  Indian steelmaker’s $6bn sale faces delay

  

  Bloomberg Essar Steel India Ltd.’s sale is facing a fresh delay, after creditors of the insolvent firm pushed back a decision on bids from ArcelorMittal and a consortium backed by VTB Group, people with knowledge of the matter said. A committee of Essar Steel creditors, originally slated to convene earlier this week, has postponed a meeting to discuss the offers, ...

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• 7 March

  Kia plans India push with small cars after US sales dip

  

  Bloomberg Kia Motors Corp. will take a plunge into India’s crowded small car market. The affiliate of South Korea’s Hyundai Motor Corp. plans to make three or more models in the compact hatchback and sport-utility vehicle segments within three years of starting production in 2019, Manohar Bhat, head, marketing and sales at Kia’s local unit said in an interview. Hatchbacks ...

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