March, 2017

• 23 March

  New power plants could revolutionize Pak economy

  

    In the dusty scrub of the Thar desert, Pakistan has begun to dig up one of the world’s largest deposits of low-grade, brown, dirty coal to fuel new power stations that could revolutionize the country’s economy. The project is one of the most expensive among an array of ambitious energy developments that China is helping the country to build ...

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• 23 March

  Most Gulf bourses recover, Egypt rebounds as foreign funds buy

  

    DUBAI / Reuters Most stock markets in the Gulf made small gains on Thursday, recovering some of the week’s losses, but trading volumes remained very low. Egypt rebounded as foreign funds bought shares there. The Saudi stock index climbed 0.7 percent as the petrochemical sector regained some of the previous session’s heavy losses, after Brent oil bounced from a ...

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• 23 March

  European stocks rise, Asia bounces back

  

    Bloomberg European stocks climbed, led by mining and bank shares, as lenders borrowed more than double what was forecast under the European Central Bank’s TLTRO program. The Stoxx Europe 600 Index advanced 0.3 percent to 375.21 as of 11:31 a.m. London time, set to end three days of losses. European miners extended their gains to 0.9 percent, following metals ...

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• 23 March

  US treasuries gain as health vote looms

    Bloomberg Markets struck a cautious tone, with US stocks fluctuating and Treasuries gaining a fifth day, as investors watched developments in Washington for clues on the prospects for the Trump administration’s pro-growth policies. The S&P 500 Index was little changed, as futures erased gains after House Republicans postponed a planned meeting on the health-care bill. The measure’s outcome is ...

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• 23 March

  Amazon to acquire online retailer Souq.com

  

    DUBAI / Reuters Amazon.com Inc has agreed in principle to buy Dubai-based internet retailer Souq.com, one of the best-known names in the Middle East’s online shopping market, sources familiar with the deal said. Souq.com, which sells consumer electronics, fashion, household items and other goods, lays claim on its website to being the largest e-commerce site in the Arab world. ...

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• 23 March

  China Southern in talks to sell stake to American Air

  

    Bloomberg China Southern Airlines Co., Asia’s biggest carrier by passengers, is in advanced talks to sell a stake to American Airlines Group Inc., according to people familiar with the matter. The negotiations focus on an investment of about $200 million by Fort Worth, Texas-based American in China Southern’s Hong Kong-listed shares, said the people, asking not to be identified ...

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• 23 March

  Emirates to let travellers keep laptops until boarding

    Bloomberg Emirates aims to let passengers take their laptops past security gates at Dubai International Airport and collect the devices only before boarding as the world’s largest international carrier seeks to minimize the impact of an electronics ban on routes to the US. The state-owned carrier is planning to permit devices affected by the ban within the security perimeter ...

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• 23 March

  Tourists in UK and Italy boost Hermes sales

  

    Bloomberg Terrorist attacks in France and the decline of the pound are drawing tourists to London and Rome, bolstering French handbag maker Hermes International SCA as it bounces back from weakness in the domestic market and China. Hermes reported a 10 percent increase in full-year profit, citing a lift in sales from the pound’s fall in the wake of ...

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• 23 March

  MallfortheWorld unveils ecommerce platform to ME

  

    DUBAI / Emirates Business ‘MallfortheWorld’ announced that consumers in UAE, Saudi Arabia and Qatar will now have access to over 150 of the leading retailers in the US through its app, marking its foray into the Middle East. MallfortheWorld is the parent company of the award-winning global e-commerce giant MallforAfrica. Growing at a steady rate, the app is available ...

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• 23 March

  Apple woos developers with concessions in app store revamp

  

    Bloomberg Apple Inc.’s App Store has turned countless software developers into millionaires since its launch almost a decade ago. But working with the famously controlling company has often been frustrating. Apps were rejected with little explanation, and Apple has been stingy about sharing customer data that could have helped developers improve their products. Apple can no longer afford to ...

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