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DUBAI / WAM Customs transactions in Dubai rose sharply by 60 percent to reach 4 million in Q1, 2020, from 2.5 million in the corresponding quarter last year, reflecting the resilience of Dubai economy and its ability to cope with changes and challenges. Declarations took the lion’s share of transactions completed by Dubai Customs in Q1 this year at 3.4 ...

ABU DHABI / WAM Emirates Islamic, part of the Emirates NBD Group, contributed AED 10 million to support the ‘Community Solidarity Fund Against Covid-19’ launched by the Islamic Affairs and Charitable Activities Department in Dubai. The Fund aims to support the effort to mitigate the health, economic and social challenges posed by the Covid-19 outbreak. Emirates Islamic is the first ...

ABU DHABI / WAM The UAE Ministry of Economy announced on Sunday the reduction of fees associated to 94 services provided to individuals, companies, and the business sector. The announcement follows the issuance of UAE Cabinet Resolution No. 20 of 2020 regarding services fees issued by the ministry. According to a statement issued by the Ministry of Economy, fee reductions ...

ABU DHABI / WAM The Abu Dhabi School of Government (ADSG) signed a Memorandum of Understanding (MoU) with Haykal Media to contribute 10,000 licences to the Harvard Business Review’s Arabia platform for Abu Dhabi Government employees, reinforcing the ADSG’s active role in digital learning, as part of Abu Dhabi’s ongoing digital transformation. The licences will provide Abu Dhabi’s government employees ...

Bloomberg Singapore will start imposing fines on first-timers who flout social-distancing rules, while those who aren’t wearing masks may be barred from entering some premises which provide essential services, as the spread of coronavirus in the city-state showed few signs of abating. The government has closed beaches, and some areas of parks and nature reserves, saying “tougher measures” are necessary ...

Bloomberg India’s government is likely to divide the country into three zones — red, orange and green — during the proposed extended period of lockdown and might permit a few services to function in safe zones, the Economic Times reported, citing people it didn’t identify. No activity will be allowed in the red zones where sizable number of cases were ...

Bloomberg Russian President Vladimir Putin’s government plans to dramatically ramp up stimulus measures to prop up an economy that is lurching towards recession. The government will roll out about 1 trillion rubles ($13.5 billion) of new spending, according to two people familiar with the plans, who asked not to be named because discussions are ongoing. Some of the money will ...

Bloomberg UK businesses are struggling to access the cash they need as government efforts fall short, according to the British Chambers of Commerce. Just 1% of companies surveyed by the BCC had managed to access Chancellor Rishi Sunak’s Coronavirus Business Interruption Loan Scheme (CBILS). Eight percent said they had been unsuccessful, citing the complexity of the application process, slow responses ...

Bloomberg In late March, Arnold Mergell delivered an urgent message to Germany’s political elite. Standing in front of a row of blue metal barrels, he complained that the funds needed by small and mid-sized companies like his to survive the coronavirus crisis weren’t getting through fast enough. “The bazooka’s been loaded, but the trigger is stuck,” said Mergell, who runs ...

Bloomberg American deaths from the coronavirus passed Italy’s, affirming the US’s spot as the epicenter of the global pandemic. Deaths from the virus reached more than 19,880 in the US, according to data compiled by Johns Hopkins University. Italy had almost 19,500 fatalities. The US figure will rise throughout the day as more states report data. The heavy toll in ...