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Bloomberg Phyllis Lam has lived in Hong Kong for 42 years. It’s where she was born, went to school, met her husband and planned to raise her two children. But like a growing number of Hongkongers disillusioned by China’s tightening grip on the city, Lam now feels she has little choice but to leave. “I have no confidence in Hong ...

Bloomberg The European Union (EU) plans to revamp its steel-import restrictions to guard against major market distortions as the bloc’s economy recovers from the effects of the pandemic. The proposed changes apply to EU import curbs introduced two years ago to prevent a controversial 25% US levy on foreign steel from diverting global shipments to the European market and flooding it. ...

Bloomberg Covid-19 has derailed the Canadian government’s plan to increase international migration levels this year. In the first release of data that covers the pandemic’s spread into Canada, the number of permanent residents who came to the country in March dropped by 29% from the same period last year, falling to 19,115 during the month. Temporary foreign workers were down ...

Bloomberg The Covid-19 pandemic hit right as Ralph McLaughlin, chief economist for Haus Inc., was moving from Washington, DC, to San Francisco. When his company gave employees the option to work anywhere, McLaughlin didn’t hesitate. He chose to work mostly from a mountain home 145 miles from San Francisco and visit his city office “when I need to feed off ...

ABU DHABI / WAM The Ministry of Finance (MoF) issued three new decisions for federal entities across the UAE, as part of its remit to revise and reduce federal fees. These decisions are: Cabinet Resolution No. (36) of 2020 on registering suppliers in the Federal Supplier Register, Cabinet Resolution No. (37) of 2020 on amending certain provisions of Cabinet Resolution ...

Dubai / WAM The Dubai Future Foundation (DFF) has released its latest report titled “Life After Covid-19: Retail” which showcases online retailers and e-commerce platforms experiencing dramatic growth as consumers avoid shopping malls in response to Covid-19. The report, launched within the Foundation’s “Life after Covid-19.” series and includes eight reports to date, and tackles the different challenges and opportunities ...

AJMAN / WAM More businesses will be allowed to resume economic activities from Sunday, May 31, under “Guidelines and Protocols for Reopening of Economic Activities”, the Department of Economic Development in Ajman (DED-Ajman) announced. Cinemas, gyms, fitness clubs, children’s saloons as well as valet parking and car washing service will receives customers at 50 percent of their total capacity with ...

Sharjah / Emirates Business The Saudi German (SGH Sharjah) hospital medical staff saved a 43 year old young man of an Arab nationality when he was admitted to the emergency section at SGH Sharjah in a difficult condition as he was suffering from severe pain in the abdomen and chest areas due to exhaustion of heart muscle and failure of ...

Bloomberg Fossil fuels are no longer considered “green” by China’s central bank. The People’s Bank of China (PBOC) plans to remove “clean utilisation of fossil fuel” projects from the list of programs that can be funded by green bonds, according to a draft plan. The bank has drawn the ire of environmentalists for allowing the sustainable financing tools to fund ...

Bloomberg President Donald Trump said the US will terminate its relationship with the World Health Organization (WHO), which he has accused of being too deferential to China and of failing to provide accurate information about the spread of the coronavirus. “We have detailed reforms that they must make and engage with them directly, but they have refused to act,” Trump ...