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Bloomberg UK business confidence slumped the most on record last quarter as financial leaders said they see no quick recovery from the coronavirus downturn. On average, the 104 chief financial officers (CFOs) in Deloitte’s quarterly survey said they expect revenues this year to be more than a fifth lower than previously anticipated. Most said they do not see demand recovering ...

Bloomberg The UK risks failing to recruit the 50,000 customs agents the logistics industry says are needed before Britain’s final parting with the European Union, spelling potential chaos at the country’s busiest border. The coronavirus hampered efforts to train staff to handle the extra paperwork firms will need to complete after the UK exits the EU’s customs union at the ...

Bloomberg Ericsson AB, the communications equipment supplier, has started a sale process for Iconectiv, its US call routing unit, people familiar with the matter said. The telecom infrastructure company is working with an adviser on the potential divestment, the people said, asking not to be identified because the information is private. Bidders include several private equity firms, the people said. ...

Bloomberg Small businesses that struggled to get loans from a government pandemic relief program still don’t know how much they may have to repay after the government missed a deadline to give specific guidance. The US Small Business Administration (SBA) was supposed to clarify by April 26 how loans it approved as part of the Trump administration’s multitrillion-dollar coronavirus stimulus ...

Muscat / WAM Mohammed Sultan Al Suwaidi, UAE Ambassador to Oman, hailed relations between the UAE and Oman as historic and based on family ties, lineage, and common history. In a statement to the Oman News Agency, Al Suwaidi said these ties were ”eternal” and ”growing steadily.” According to Al Suwaidi, the two countries maintain regular coordination in many trade ...

Bloomberg Few have a better watchtower over oil demand than Joe Gorder, chief executive officer of major US refiner Valero Energy Corp. But this week Gorder didn’t even need his business insight to know that fuel consumption was starting to recover in America. He only needed to look at the streets of San Antonio, the Texas city where he’s based, ...

SHARJAH / WAM Sharjah Directorate of Human Resources (SDHR) issued a study entitled “Effects of coronavirus pandemic on local business sectors and jobs,” to show the impact of the Covid-19 pandemic on a number of sectors in the emirate. The SDHR’s study noted that businesses that were able to fully transform to online operations are the “winning” works where jobs ...

ADEN / WAM The Emirates Red Crescent (ERC) has continued its Ramadan Mir campaign, with a daily average of 3,770 meals distributed across four Yemen governorates. According to the UAE aid authority, the four governorates include Hadramaut, Shabwa, Hodeidah, and Taiz. Some 7,000 iftar meals were distributed across districts in each of the Hadramaut and Hodeidah governorates, while Shabwa saw ...

DUBAI / WAM Dubai Customs continues its recognisable role in facilitating legitimate trade, enhancing the national economy and supporting the national efforts against the negative impacts of the coronavirus pandemic. In Q1 of 2020, around 24.314m tons of goods passed through Dubai Customs’ sea and air shipping centers despite the international economic downturn due to the pandemic crisis. Dubai Customs’ ...

Dubai / Emirates Business du, from Emirates Integrated Telecommunications Company (EITC), announced it has launched a host of exclusive offers across home, prepaid, postpaid, and value-added services (VAS) for customers to keep them connected with loved ones and family as they celebrate the Holy Month of Ramadan. Aiming to provide its customers with uninterrupted services to stay connected and enjoy ...