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Bloomberg An investigation into Coffee Day Enterprises Ltd, initiated by its board after the death of founder VG Siddhartha, is likely to conclude that at least 20 billion rupees ($270 million) is missing from its accounts, according to people familiar with the matter. The months-long probe following the suicide of Siddhartha in July examined the financial transactions of India’s largest ...

Bloomberg Tencent Holdings Ltd picked up millions of new gamers during the global coronavirus outbreak — yet that surge in mobile play may be slowing as world’s No 2 economy goes back to work. The quest for entertainment among millions confined to home translated into a big boost for Tencent’s marquee games, Honor of Kings and Peacekeeper Elite. That helped ...

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 The US economy will contract sharply in late March and April as consumers and businesses slash spending, with the short downturn likely be officially deemed as being a recession, according to Goldman Sachs Group Inc. The world’s largest economy will shrink 5% in the second quarter after zero gross domestic product growth in the first three months of the ...

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 Ferrari NV has temporarily halted the production of its sports cars in Italy because of the spread of the coronavirus. The Italian supercar maker is experiencing its “first serious supply chain issues, which no longer allow for continued production,” it said in a statement on Monday. It will suspend production at the Maranello and Modena plants until March 27. ...

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 ...

DUBAI / WAM Dubai Airport Freezone Authority (Dafza) has played a key role in boosting Dubai’s economic growth, with a 12 percent contribution to the emirate’s foreign trade in 2019, compared to 11.2 percent in 2018, out of a total trade value of AED1.37 trillion recorded last year. This came as a direct result of the incentives and business facilitation ...

ABU DHABI / WAM Abu Dhabi and Dubai Financial Markets (DFM) announced the prohibition period for insider trading at public shareholding companies listed in the UAE capital markets, which will take effect on Tuesday, March 17, in compliance with the applicable regulations and rules. The Abu Dhabi Securities Exchange (ADX) and DFM called on listed shareholding companies and brokerage companies to implement ...