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DUBAI / WAM Dubai Economy has directed commercial establishments in the emirate to close down for two weeks starting from Wednesday in line with the preventive measures announced by the Ministry of Health and Prevention and the National Emergency Crisis and Disaster Management Authority in view of the Covid-19 pandemic. According to a press release issued by Dubai Economy on ...

ABU DHABI / WAM Over the past three years, the UAE’s banking sector has expanded, and now it provides 98 percent of its services to customers electronically, enabling them to achieve their transactions safely online. Studies performed by the Federal Competitiveness and Statistics Authority, FCSA, highlighted an increase in the number of users of digital banking services to 90 percent, ...

Bloomberg India banned exports of a malaria drug backed by US President Donald Trump amid a run on supplies globally, even as scientists continue to search for conclusive evidence of the medicine’s effectiveness against the novel coronavirus. Exports of hydroxychloroquine will be limited to fulfilling fully paid existing contracts, while certain shipments on humanitarian grounds may also be allowed on ...

Bloomberg A glitch in Hong Kong’s electronic tracking system, designed to ensure people under compulsory quarantine orders stay at home, could potentially allow many to go outside undetected. Some Hong Kong residents returning from overseas have found they can’t register with the app that’s meant to track their movements via their mobile phone, meaning authorities have no information on their ...

Bloomberg Germany took a step towards declaring a state of emergency to unlock a historic rescue package to cushion the blow of the coronavirus pandemic. Finance Minister Olaf Scholz urged lawmakers to open up constitutional debt limits to combat a crisis that threatens modern life. New borrowing of $169 billion, equivalent to half of the country’s normal annual spending, will ...

Bloomberg CVS Health Corp. said it plans to hire 50,000 people in full-time, part-time and temporary jobs to tackle surging demand for drugstore services and health goods during the US coronavirus outbreak. The drugstore chain said it plans to hire store workers, delivery drivers, distribution center workers and customer service employees. CVS and other pharmacies are inundated with people stocking ...

Bloomberg Google and other digital advertising companies are seeing revenue growth wither as marketers slash spending ahead of an expected recession triggered by the coronavirus. The global pandemic and the ensuing slump in economic activity is crushing several industries that have been big buyers of Google and Facebook Inc. ads, including online travel agents, automakers, restaurants and retail. “I’m hearing ...

Bloomberg President Donald Trump said he would stop using the term “Chinese virus,” the latest indication that the US and China are seeking to deescalate their blame game over the deadly pandemic. “I don’t regret it, but they accused us of having done it through our soldiers, they said our soldiers did it on purpose, what kind of a thing ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, launched the online #ThankYouHeroes campaign as a tribute to healthcare workers on the frontlines of the battle against the coronavirus (Covid-19) pandemic. In a message of appreciation for doctors, nurses, paramedics and medical teams who dedicate their ...

RAS AL KHAIMAH / WAM The National Bank of Ras Al Khaimah (Rakbank) on Tuesday announced further plans to provide financial relief to individuals, SMEs, and corporates impacted by the economic consequences of the coronavirus (Covid-19). For individual customers, the bank will provide payment deferrals of up to three months on auto loans and personal loans for Covid-19 impacted salaried ...