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Bloomberg Japan’s government increased the amount of debt it plans to issue this fiscal year for the third time in under two months, seeking to fund its unprecedented economic stimulus. Issuance will surge to 212.3 trillion yen ($2 trillion) in fiscal 2020, according to a plan released by the Ministry of Finance on Wednesday. That’s versus 152.8 trillion yen estimated ...

Bloomberg The European Commission unveiled an unprecedented stimulus plan to tackle the worst recession in living memory and underwrite struggling Italy’s membership of the 27-nation bloc. The government in Rome stands to receive 82 billion euros ($90 billion) in emergency grants and up to 91 billion euros in low-interest loans from the package that could be worth as much as ...

Bloomberg Oil declined from the highest settlement in 11 weeks on signs Russia is supporting plans to start easing supply cuts from July, while tensions between the US and China escalated amid the specter of sanctions. Futures fell 1% in New York. Moscow wants to scale back curbs in line with the Opec+ deal, according to people familiar with the ...

SHARJAH / WAM Sharjah Investment and Development Authority (Shurooq) has announced the completion of a sterilisation drive across its properties, and opened its doors to their popular leisure and entertainment destinations, Al Qasba, Al Majaz Waterfront, Al Noor Island, the Flag Island, Heart of Sharjah, Mleiha Archaeological & Ecotourism Project, Khorfakkan Beach, Maraya Art Centre and 1971-Design Space. In addition, ...

DUBAI / Emirates Business Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis (DSO), announced the completion of more than 3,000 transactions worth approximately AED10 million in two months, from mid-March to mid-May this year, while working remotely. In addition to the existing 395 smart services available online, through the customer service portal, DSOA launched seven new ...

Abu Dhabi / WAM The United Arab Emirates on Wednesday sent an aid plane containing 10 metric tons of medical supplies to the Republic of Tajikistan to bolster the country’s efforts to curb the spread of the coronavirus (Covid-19). The aid will assist approximately 10,000 medical professionals as they work to contain the virus. Commenting on the aid delivery, Dr ...

DUBAI / Emirates Business The Dubai Financial Services Authority (DFSA) will be hosting a virtual event on June 2-3. The event, RegTech Live: Driving Compliance Through Innovation, will be held in partnership with the Dubai International Financial Centre Authority (DIFCA). The DFSA wishes to promote and foster innovation in the Dubai International Financial Centre (DIFC), in line with Dubai’s National ...

SHARJAH / WAM The Sharjah Chamber of Commerce and Industry (SCCI) announced that it had issued 4,527 electronic ‘Certificates of Origin’ for the months of March and April. It noted that the total number of memberships had reach 1,251 by the end of April, with 46 new memberships and 1,169 renewed memberships. The number of new members from the free ...

Bloomberg Reliance Industries Ltd is working with banks on early preparations for an overseas listing of its digital and wireless business, people with knowledge of the matter said, after the unit attracted more than $10 billion of investment in a month. The conglomerate backed by Mukesh Ambani, Asia’s richest man, is preparing Jio Platforms Ltd for an initial public offering ...

Bloomberg JSW Steel Ltd, India’s most valuable steelmaker by market capitalisation, will focus on exports, cut costs and delay expansions as the coronavirus pandemic slashes demand at home. Once a bright spot for global demand, steel consumption in India plunged 91% last month while crude steel output tumbled 70% as a nationwide lockdown to combat the pandemic halted activity across ...