Blog List Layout

DUBAI / WAM The Board of Directors of the Federal Tax Authority (FTA) has approved financial statements for 2019, and adopted a number of executive decisions on the FTA’s organisation, administration, and operations, during its 11th meeting, chaired by HH Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, Minister of Finance, and Chairman of the FTA’s Board of ...

AJMAN / WAM Government bodies in the Emirate of Ajman have announced the temporary closure of wedding venues, fitness clubs and massage centres as part of precautionary measures to mitigate the spread of coronavirus. Shopping malls in the emirate will also see the installation of thermal surveillance equipment to monitor the temperatures of mall visitors. The Ajman Department of Economic ...

AL AIN / WAM Strata Manufacturing, the advanced composite aerostructures manufacturing facility wholly-owned by the Mubadala Investment Company PJSC, deployed two of the latest generation MTorres Automated Tape Laying (ATL), machines to support its Airbus A350-900 manufacturing capabilities. The Al Ain-based manufacturer has gained First Part Qualification and First Article Inspection design and quality verifications for the use of the ...

DUBAI / WAM Dubai Financial Market (DFM) announced that it is temporarily closing its trading floor and customer affairs counters until further notice beginning March 16, as part of its commitment to public health, and in line with measures taken in the UAE to contain coronavirus (Covid-19). Hassan Al Serkal, Chief Operating Officer and Head of Operations Division at DFM, ...

Bloomberg China suffered an even deeper slump than analysts feared at the start of the year as the coronavirus shuttered factories, shops and restaurants across the nation, underscoring the fallout now facing the global economy as the virus spreads around the world. Industrial output plunged 13.5% in January and February from a year earlier, retail sales fell 20.5%, and fixed-asset ...

Bloomberg Thailand is preparing to restrict some aspects of daily life after the country’s biggest spike in coronavirus cases, further damaging one of Asia’s weakest economic outlooks. The steps to be considered include placing more curbs on foreign arrivals, cancelling events with big crowds and closing entertainment venues deemed risky for spreading the virus. Confirmed cases jumped by 32 on ...

Bloomberg There’s 1,000 miles and a body of water between Mark McGowan and the Italian epicenter of Europe’s coronavirus outbreak. He may as well be next door. His 16-room hotel, the Scholars Townhouse in Drogheda, north of Dublin, has seen a 60% drop in room revenue. The business market “just melted away overnight,” he said. “We have three people at ...

Bloomberg AT&T Inc. and Comcast Corp. are loosening up restrictions on internet plans as they deal with a surge in Americans working from home and pressure from regulators. AT&T lifted some data caps on broadband services, while Comcast said it would make its Xfinity Wi-Fi hot spots free for everyone. Comcast, the biggest cable company, also said it was “pausing” ...

Bloomberg Poland should provide fiscal stimulus to aid the virus-hit economy before the central bank considers cutting borrowing costs that are already at a record low, Monetary Policy Council member Grazyna Ancyparowicz said. “It’s high time for fiscal policy to play first fiddle,” Ancyparowicz said in an interview. “Our monetary policy has already been near its limit and absolutely nothing ...

Bloomberg Malaysia’s former leader Mahathir Mohamad warned that the opposition coalition may lack the support needed to remove the current government, while criticising his long-time rival Anwar Ibrahim for the collapse of his administration. The Pakatan Harapan alliance, which was ousted from power last month, now had the backing of about 108 lawmakers, from 114 the morning before Prime Minister ...