Bloomberg India kicks off its fiscal year with revenues under severe strain. A prolonged slowdown in the economy depressed tax collections in the financial year that ended on Tuesday, latest official data show. As India now conducts the world’s biggest lockdown, budget pressures are set to worsen. Finance Minister Nirmala Sitharaman has already outlined a virus relief package of $22.5 ...

Dubai / WAM Total volumes on the Dubai Gold and Commodities Exchange (DGCX) in March totalled 1.8 million contracts, valued at $45.133 billion. The Average Daily Volume (ADV) throughout the same month registered 81,850 contracts. As the Covid-19 pandemic causes volatile swings in markets across the globe, investors are making increasing use of Exchange’s derivatives products and services as risk ...

Bloomberg Factories around the world suffered one of their grimmest months on record in March, as the coronavirus led to mass shutdowns and wreaked havoc on supply chains. Figures from Asia and Europe showed measures of manufacturing activity dropped sharply, with some at their lowest since the financial crisis more than a decade ago. In Italy, an index of output ...

DUBAI / WAM The Dubai Future Foundation (DFF) launched the first issue from a series of reports to tackle the different challenges that organisations in Dubai and the world will face once the Covid-19 global outbreak subsides, titled “Life After Covid-19: Workspaces”. The report, launched on Wednesday, looks into the future of work post the novel coronavirus, the notion of ...

ABU DHABI / WAM The Nation Shield Magazine, issued by the General Headquarters (GHQ) of the Armed Forces, issued its new monthly edition No. 579 and made it available to readers on its website. This step is in implementation of the directives of the UAE’s leadership and the decision of the National Media Council (NMC) to temporarily stop circulating newspapers, ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, chaired a video meeting with HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, and a number of UAE ambassadors to review the country’s diplomatic missions overseas amid the ongoing global efforts ...

DUBAI / WAM The Mohammed Bin Rashid Space Centre (MBRSC) released a GIF image of the decrease in nitrogen dioxide (NO2) concentration in the GCC countries, between November 26, 2019, until March 27 this year. The Remote Sensing Department at MBRSC published the results using data acquired by the European Space Agency’s Sentinel-5P mission. The drop in NO2 concentrations beginning ...

Dubai / WAM Dubai Aerospace Enterprise, DAE, has announced that it ended Q1 2020 with available liquidity of approximately $2.8 billion. DAE’s owned, managed and mandated-to-manage fleet exceeded 400 aircraft. During the said period, DAE sold or novated 15 aircraft, acquired 4 aircraft and transitioned or extended leases on 8 aircraft. Commenting on the announcement, Firoz Tarapore, DAE’s Chief Executive ...

ABU DHABI / WAM In response to the high level of commitment shown by the public with the precautionary measures to restrict traffic movement, the Ministry of Interior (MoI) decided to suspend all federal and local permits, and online applications for vehicles during the National Disinfection Programme, including the federal movement permit service, ‘Tajawal’ or ‘Move’. The move comes as ...

ABU DHABI / WAM The Department of Planning and Development, (Trakhees), activated its remote work system to ensure continuity of providing a total of 365 field and non-field services to its customers. The department was able to continue providing its services 100 percent without interruption during this period in line with government announcement to ensure safety and wellbeing of the ...