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Bloomberg Indonesia is reintroducing a raft of market measures deployed during the global financial crisis as authorities warn the impact of the novel coronavirus outbreak on the markets and the economy will be more damaging. The nation’s only stock exchange tightened trading-halt rules on March 10, with the first suspension kicking in with a 5% slump instead of 10% earlier. ...

Bloomberg Asia’s biggest hospital group is offering on-demand tests for new coronavirus in Malaysia, while helping Singapore’s authorities diagnose cases, even as other countries struggle with a shortage of kits. IHH Healthcare Bhd’s Gleneagles and Pantai hospitals around Kuala Lumpur and Melaka are endorsed to perform the tests by Malaysia’s health authority, which has sought to “Uber-ise” the service by ...

Bloomberg Tesla Inc. will build its in-development Cybertruck at a new plant in the US, Chief Executive Officer Elon Musk tweeted, likely triggering a state-by-state competition similar to one he set off six years ago. The factory will build both the electric pickup and the Model Y crossover for customers on the East Coast, the chief executive officer wrote. He ...

Bloomberg Italian Prime Minister Giuseppe Conte’s government is ready to spend as much as 25 billion euros ($28.3 billion) on stimulus measures to shield the economy from Europe’s worst outbreak of the coronavirus. Finance Minister Roberto Gualtieri said the cabinet is likely to approve a first package worth about 12.5 billion euros by Friday. The rest will be a reserve ...

Bloomberg H2O Asset Management suffered heavy losses of as much as 30% across its funds during market rout, adding to severe declines that have pummeled its strategies over the past month. The Natixis SA-backed firm saw record daily drops in at least three of its money pools as coronavirus fears and an oil-price plunge rocked markets. H2O’s Multiequities fund lost ...

Bloomberg The UK economy failed to grow in January, adding to the case for the Bank of England’s emergency rate cut on Wednesday. The figures suggest the pickup seen after Boris Johnson’s election win proved short-lived, with momentum waning even before fears about the coronavirus took hold in February. Gross domestic product was unchanged from December, when it grew 0.3%, ...

Bloomberg Coronavirus-fuelled market turmoil has led AEW SA, a real estate investment manager backed by Natixis SA, to push back a planned 900 million-euro ($1 billion) European property sale. The fund manager is trying to assess the impact of the outbreak on real estate markets before moving ahead, according to four people with knowledge of the matter. AEW had already ...

Bloomberg A diplomatic spat has erupted between Germany and neighbours Switzerland and Austria over a decision last week by Chancellor Angela Merkel’s government to ban most exports of protective medical equipment. Switzerland has called in the German ambassador to complain about the decision to block a shipment of 240,000 face masks, while Austria’s economy minister demanded her German counterpart order ...

ABU DHABI / WAM The UAE-US joint military exercise, “Native Fury 20” kicked off in Abu Dhabi, with the participation of the UAE forces and their US counterpart. The joint exercise comes within the framework of exchanging military experiences and developing joint action between the two friendly countries in the military field, so as to enhance strategic relations between the ...

Dubai / Emirates Business DP World, UAE Region, the region’s premier logistics and business hub operator, has announced across-the-board reductions in license registration and administration costs for companies operating in its flagship Jebel Ali Free Zone (Jafza) as well as for new investors. The far-reaching Jafza Customer Support Initiative is designed to slash business-related fees by between 50 percent and ...