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Bloomberg Brazil’s economic team wants to adopt a flexible fiscal target for 2021 as uncertainties caused by the novel coronavirus make it difficult to estimate the impact of the crisis, according to four people with direct knowledge of the matter. The government has until April 15 to send a bill to Congress with forecasts for next year. The bill has ...

Bloomberg Tesla Inc. is headed for its seventh straight session of gains after Credit Suisse upgraded the electric-car company whose stock has been on a tear since its first-quarter delivery report. Shares of the Model 3 maker rose as much as 8.1% before the start of regular trading, putting them on track for a more than 50% climb in the ...

Bloomberg A protracted lockdown could see the UK economy shrink by more than a third this quarter, increasing unemployment by more than 2 million and sending the budget deficit to its highest since World War II. The dire projections were outlined by Office for Budget Responsibility. They are based on a scenario in which Britain remains in lockdown for three ...

Bloomberg SAP SE, Europe’s biggest tech company by market value, is exploring the sale of a unit that helps telecommunications operators route calls and text messages, people with knowledge of the matter said. The German firm is working with an adviser to gauge interest in the business and has been speaking to potential buyers, said the people, who asked not ...

Bloomberg New Zealand’s government is preparing additional fiscal measures to limit a surge in unemployment as it battles the coronavirus, Finance Minister Grant Robertson said. “Work on further significant government investment to protect jobs, support cashflow, and prepare the economy for recovery is well advanced,” Robertson said in Wellington. Scenarios released by the Treasury department show that unemployment “can be ...

DUBAI / WAM The number of visitors to the official portal of UAE government (U.AE) exceeded 2.9 million during the first quarter of 2020, a rise of 56.63 percent from the first quarter of 2019, the Telecommunications Regulatory (TRA) announced. The authority added that there were four million visits to the portal in the first quarter of this year, while ...

Sharjah / WAM The emirate of Sharjah has recorded up to 18,537 real estate transactions totalling AED3.6 billion in the first quarter of 2020, revealed a report by the Sharjah Real Estate Registration Department (SRERD). The said transactions were recorded in 129 areas in the emirate covering 8.9 million square feet, according to Abdul Aziz Ahmed Al Shamsi, Director-General of ...

ABU DHABI / WAM Abu Dhabi Ports’ Corporate Services Department was awarded the Procurement Excellence Gold Award from the UK-based Chartered Institute of Procurement and Supply as part of institute’s Advanced Procurement Excellence Programme. The institute recognised Abu Dhabi Ports’ efforts in elevating its procurement function’s role in providing vital input into company’s strategic business decisions, enhancing customer experience and ...

Bloomberg The International Monetary Fund (IMF) predicted the “Great Lockdown” recession would be steepest in almost a century and warned the world economy’s contraction and recovery would be worse than anticipated if coronavirus lingers or returns. In its first World Economic Outlook report since spread of Covid-19 and subsequent freezing of major economies, the IMF estimated on Tuesday that global ...

Bloomberg Oil erased earlier gains as the demand destruction caused by the coronavirus pandemic outweighed planned output cuts from the world’s biggest producers. Futures fell 4.6% in New York amid persistent concerns of a massive supply glut. A key timespread on American benchmark — a gauge of the health of the market — is at its weakest level in more ...