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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 ...

Bloomberg Denmark’s central bank drastically cut its forecast for gross domestic product, and now sees a painful recession this year, after the government’s response to the coronavirus pandemic brought the economy to a near standstill. GDP will contract somewhere between 3% and 10%, the Copenhagen-based bank said on Wednesday. The bank “has listed three scenarios, illustrating how severely the Danish ...

Bloomberg Ford Motor Co. is speeding up plans to produce ventilators in cooperation with General Electric Co. by selecting a simpler design of the medical devices and will aim to churn out 50,000 units in the next 100 days. The automaker will convert an auto-parts plant in Michigan to make breathing machines designed by Airon Corp. and licensed by GE ...

Bloomberg A Russian military plane loaded with medical equipment took off from outside of Moscow on Wednesday after President Vladimir Putin offered Donald Trump help for the US battle with coronavirus. “The Russian side offered assistance amid the dire epidemiological situation in America,” Kremlin spokesman Dmitry Peskov told state-run Channel One. “Trump gratefully accepted this humanitarian aid.” After his comments, ...

DUBAI / WAM Aligning with Dubai Government’s economic stimulus programme, Dubai International Financial Centre (DIFC) will introduce a series of fiscal easing initiatives over the next three months from April 1 to June 30, 2020 to help protect the financial services industry and all businesses operating in the Centre. Five initiatives will be introduced on a conditional basis, offering businesses ...

DUBAI / WAM His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, has said that the government of Dubai is fully committed to supporting Emirates Airline during the current global climate. As a shareholder of Emirates, the government of Dubai will inject equity into the company, considering its strategic ...

Dubai / WAM Adnoc Distribution announced that its dividend policy will see the 2020 dividend increase to AED2.57 billion, an increase of 7.5 percent compared to 2019. The announcement was made on Tuesday during the company’s General Assembly meeting which was held remotely via video conference as part of the Adnoc Distribution’s measures to ensure the safety and well-being of ...

DUBAI / WAM The Ministry of Community Development (MoCD) has launched four interactive channels under a new initiative named ‘Taaluf’ to provide family counselling for free to all UAE community members. In a statement, the Ministry said that the launch of the counselling initiative aims to mitigate the psychosocial and mental health impacts of Covid-19 on individuals during home quarantines ...