The selloff came after reports that the Biden administration is planning a raft of proposed changes to the US tax code, including a plan to nearly double taxes on capital gains to 39.6 percent for people earning more than $1 million.
The government expects to break ground in June on the canal, which would connect the Black Sea to the north with the Marmara Sea to the south, running 45 km through marshland, farms and towns on the western edge of the city.
Two of the sources said a global sustainability pact that six of Turkey’s top banks have signed was a barrier to funding the Kanal Istanbul, which Erdogan dubbed his “crazy project” when he floated it a decade ago.
Yet Istanbul’s mayor, engineers and, according to one poll, most citizens, oppose the project on enviromental grounds, saying it would destroy a marine ecosystem and resources that supply almost a third of the city’s fresh water.
Gulf Biotech has signed a license agreement for a plant which will initially have one module – consisting of four protein fermenting machines with a total annual capacity of 6,000 tons of Uniprotein.
This has a direct impact on enhancing competitiveness among banks and non-banking financial institutions to provide the best offers of electronic payment solutions, it said.
“The European retailer’s strategic focus on building a strong customer base with evolving experiences around electronics, multimedia and lifestyle categories, is a major milestone in Alhokair’s journey to become the lifestyle retail partner of choice in Saudi Arabia,” said Alhokair CEO Marwan Moukarzel.
The company said it also plans to roll out new Aleph Apple Premium Reseller stores with one new location added in U-Walk Riyadh on April 18 2021 and three others slated to open by the end of May 2021.
Morgan Stanley, Citigroup, HSBC and First Abu Dhabi Bank were appointed as advisers for the listing in Abu Dhabi, the news wire reported citing people familiar with the project who did not want to be identified because the matter was private.