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ABU DHABI / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted 193,163 additional Covid-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. In a statement on Tuesday, the ministry stressed its aim to continue expanding scope of testing nationwide to facilitate early detection of coronavirus cases and carry out necessary treatment. As part ...

Bloomberg Singapore reaffirmed its forecast for a rebound in economic growth this year after its worst annual contraction since independence, signalling the recovery is on track while more stimulus expected in this week’s annual budget presentation will provide further support. The Ministry of Trade & Industry (MTI) maintained its projection for growth in a range of 4% to 6% for ...

Bloomberg Amazon.com Inc will begin making devices in India for the first time, joining a flock of technology companies setting up manufacturing operations in the South Asian country. The Seattle-based e-commerce giant will start making the devices via a subsidiary of its manufacturing partner Foxconn Technology Group and production will start later this year in its facilities outside Chennai, the ...

Bloomberg Hong Kong tycoon Victor Li’s CK Asset Holdings Ltd sold a luxury apartment for a record-breaking $59 million, another sign that the city’s upscale housing market is recovering. The price for the five-bedroom apartment at the 21 Borrett Road project spanning 3,378 square feet translates into HK$136,000 per square foot, sale materials show. It broke the record made by ...

Bloomberg Traveloka, Southeast Asia’s biggest online travel startup, is planning to list in the US this year to raise funds using a special purpose acquistion company, known as SPAC, according to Chief Executive Offer Ferry Unardi. “SPAC is very efficient,” Unardi said in an interview with Bloomberg Television on Tuesday. “If we can do it faster we can then focus ...

Bloomberg The Philippines said it has enough orders of coronavirus vaccines in the pipeline to reach its goal of inoculating most of its population this year, even as it expects a supply crunch in the first half. The Southeast Asian nation is negotiating for as many as 170 million vaccine doses, presidential spokesman Harry Roque said. A fourth of the ...

Bloomberg Japan incentivising its companies to shift manufacturing facilities out of China and adding Bangladesh to a list of preferred destinations for relocating the factories may give the South Asian nation’s economy a boost. “As the pandemic started in China, Japanese companies needed to diversify” their supply chains further, Naoki Ito, the Japanese ambassador to Bangladesh, said in an interview. ...

Bloomberg The UK could need tax increases of about 60 billion pounds ($84 billion) if Chancellor of the Exchequer Rishi Sunak wants to balance the books, according to the Institute for Fiscal Studies (IFS). The warning sets the tone for the Treasury’s budget on March 3, when Sunak is due to outline how he intends to address the ruinous legacy ...

Bloomberg Colombia’s economy grew faster than expected at the end of 2020 as a rebound in consumer spending led the recovery from the worst slump in the nation’s history. The economy expanded 6% in last three months of the year compared to the previous quarter, beating the median forecast of 5.7% growth from analysts surveyed by Bloomberg. The recovery was ...

Bloomberg France is optimistic that the European Commission will sign off within days on an innovative plan for helping companies through the post-pandemic recovery, according to a finance ministry official, who asked not to be identified. The French government has proposed a program to partially guarantee billions of euros of so-called participatory loans to improve corporate balance sheets and encourage ...