Bloomberg The International Monetary Fund (IMF) said that the global economic outlook has worsened since its latest forecast three weeks ago and the world can expect more waves of financial-market turbulence. Developing nations’ external financing needs probably will be far above the $2.5 trillion that the IMF has previously projected, Chief Economist Gita Gopinath said in a webcast hosted by ...

Bloomberg Mobile phone applications that trace the new coronavirus could help decide whether business travellers and vacation-goers get to meet clients or visit their favourite beaches this summer. But politics and disagreement over what system to use threatens to thwart that solution. Governments in Europe and elsewhere are turning to voluntary mobile apps to help trace possible infections of the ...

Bloomberg The UK’s contact-tracing mobile phone app includes code that could allow authorities access to a user’s detailed location data and to send information to Microsoft Corp. and Alphabet Inc.’s Google, according to an initial technical analysis carried out by Privacy International. Like governments around the world, the UK is developing a voluntary mobile app that uses Bluetooth technology to ...

Bloomberg Facebook Inc. users asked a judge to approve a $550 million settlement in their class-action lawsuit that claimed the social-media giant illegally gathered biometric data through a photo-tagging tool. The class members will get from $150 to $300, or between 15% and 30% of the possible recovery on an individual claim, according to their lawyers. The settlement provides “excellent ...

Bloomberg Automakers won’t have to recall roughly 56 million more air bag inflators made by the now-defunct Takata Corp., the US National Highway Traffic Safety Administration (NHTSA) said, citing industry test data the agency said showed the parts won’t pose danger. The agency and an industry group will monitor safety of those Takata air bag inflators, which contain a moisture-absorbing ...

Bloomberg Honda Motor Co. will resume operations at its vehicle and auto-parts factories in the US and Canada starting on May 11, joining a caravan of other carmakers restarting North American production this month for the first time since mid-March. The Japanese automaker said it will gradually ramp up output and stagger its reopening to allow workers to get used ...

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and President Julius Maada Bio of Sierra Leone, have discussed bilateral relations, the global Covid-19 crisis and ways to contain the pandemic’s repercussions at various levels. In a telephone call, the leaders addressed the ...

ABU DHABI / WAM Abu Dhabi’s food and beverage trade value increased to AED2.65 billion in the first two months of 2020, a growth of 2.7 percent compared to AED2.58 billion during the same period in 2019. The growth in the food and beverage trade highlights the fact that the emirate has maintained its commercial activity since the start of ...

ABU DHABI / WAM Khalifa University of Science and Technology has on Thursday announced promising results and findings on its research to develop ‘artificial soil’ with the necessary ingredients and properties required for the growth of plant and vegetation, thus paving the way for the agriculture sector to grow further in the UAE. A provisional patent application has been filed ...

ABU DHABI / WAM Khalifa Industrial Zone Abu Dhabi (Kizad), a subsidiary of Abu Dhabi Ports, has announced new packages with up to 36 percent savings as relief for freezone businesses, and support SMEs challenged by the global economic slowdown. In line with Abu Dhabi Ports and the Government of Abu Dhabi’s efforts to support and safeguard businesses, the relief ...