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Bloomberg The global economic slowdown is causing the biggest drop in food prices since 2015 as demand shrinks for everything from dairy to sugar. The FAO Food Price Index, a global gauge of prices, dropped 4.3% in March, the United Nations’ Food & Agriculture Organisation said. That’s the steepest decline since August 2015. Food costs fell as government restrictions on ...

Bloomberg The number of Spaniards filing for jobless claims surged in March, the latest example of how the coronavirus pandemic is upending people’s livelihoods around the world. The increase in jobless hits particularly hard in Spain, where the unemployment rate is already 13.8%, among the highest in the developed world. The Labour Ministry said claims rose by 302,265 people in ...

Bloomberg President Donald Trump said he doesn’t support mail-in voting as a way to limit the spread of the coronavirus, arguing that sending ballots increases the likelihood of fraud. “I think a lot of people cheat with mail-in voting,” Trump told reporters at the White House. “I think people should vote with voter ID. I think voter ID is very ...

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 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 ...

DUBAI / Emirates Business Expanding on the smart transformation of its services, and fulfilling its commitment to business continuity, Dubai Chamber of Commerce and Industry (DCCI) on Wednesday announced the launch of a series of webinars. These webinars aim to boost awareness of the private sector on various issues related to business environment and practices, and the various economic sectors. ...

Bloomberg Indonesia slashed its growth forecast by more than half as the coronavirus pandemic takes a toll on Southeast Asia’s biggest economy, prompting the government to adopt a series of emergency measures. The economy is now projected to grow 2.3% this year, compared to an initial estimate of 5.3%, Finance Minister Sri Mulyani Indrawati said in Jakarta on Wednesday. Under ...

Bloomberg China reported 130 people over the past day who were infected with the novel coronavirus but don’t have symptoms, a sign that the group of people who can spread the virus without being detected is sizable. The tally, the first daily count of so-called asymptomatic patients, establishes a new benchmark to measure the scope of the outbreak amid a ...

Bloomberg Peru is moving to fend off economic catastrophe with a record fiscal stimulus and plans for a contingency line of up to $18 billion from the International Monetary Fund (IMF) to contain the fallout from the coronavirus pandemic. The government is putting together a package of economic measures totaling 90 billion soles ($26 billion), including health-care spending, tax breaks ...