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ABU DHABI / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted 193,163 additional Covid-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. In a statement on Tuesday, the ministry stressed its aim to continue expanding scope of testing nationwide to facilitate early detection of coronavirus cases and carry out necessary treatment. As part ...

Bloomberg Singapore reaffirmed its forecast for a rebound in economic growth this year after its worst annual contraction since independence, signalling the recovery is on track while more stimulus expected in this week’s annual budget presentation will provide further support. The Ministry of Trade & Industry (MTI) maintained its projection for growth in a range of 4% to 6% for ...

Bloomberg Japan incentivising its companies to shift manufacturing facilities out of China and adding Bangladesh to a list of preferred destinations for relocating the factories may give the South Asian nation’s economy a boost. “As the pandemic started in China, Japanese companies needed to diversify” their supply chains further, Naoki Ito, the Japanese ambassador to Bangladesh, said in an interview. ...

Bloomberg Myanmar’s junta again defended its move to oust civilian government in the face of nationwide protests, dismissing the impact of US sanctions while showing no signs of a compromise with demonstrators. Brigadier-General Zaw Min Tun, the lead spokesman for the State Administration Council, said on Tuesday the military’s actions were in line with the 2008 constitution and “not a ...

Bloomberg The UK could need tax increases of about 60 billion pounds ($84 billion) if Chancellor of the Exchequer Rishi Sunak wants to balance the books, according to the Institute for Fiscal Studies (IFS). The warning sets the tone for the Treasury’s budget on March 3, when Sunak is due to outline how he intends to address the ruinous legacy ...

Bloomberg Colombia’s economy grew faster than expected at the end of 2020 as a rebound in consumer spending led the recovery from the worst slump in the nation’s history. The economy expanded 6% in last three months of the year compared to the previous quarter, beating the median forecast of 5.7% growth from analysts surveyed by Bloomberg. The recovery was ...

Bloomberg France is optimistic that the European Commission will sign off within days on an innovative plan for helping companies through the post-pandemic recovery, according to a finance ministry official, who asked not to be identified. The French government has proposed a program to partially guarantee billions of euros of so-called participatory loans to improve corporate balance sheets and encourage ...

Bloomberg The energy crisis crippling Texas’s power system continued to spread, with nearly 5 million people across the US plunged into darkness as authorities fought to avoid a total collapse of the grid. Homes and businesses from North Dakota to Texas are losing power in the middle of an unprecedented deep freeze that has broken daily temperature records in hundreds ...

Abu Dhabi / WAM Adnoc Distribution on Monday reported that its net profit for the fourth quarter of 2020 grew to AED851 million, with underlying Ebitda (Ebitda excluding one-offs and inventory gains and losses) of AED1.1 billion. For the year 2020, net profit was AED 2.4 billion, while underlying Ebitda stood at AED3.6 billion. Adnoc Distribution has maintained a strong ...

DUBAI / WAM DMCC – the world’s flagship Free Zone, business hub and Government of Dubai Authority on commodities trade and enterprise – announced record-breaking performance in 2020, despite the Covid-19 pandemic. Some 2,025 new companies joined the DMCC in 2020, the highest number of registrations in five years. Retention rate remained at an all-time high. This was primarily due ...