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Bloomberg Phuket in Thailand is on lockdown, with most transportation to the island banned, in the latest effort to contain the spread of the novel coronavirus in the usually popular tourist destination. The order will last for at least one month, according to Phuket Governor Pakkapong Taweepat. Boats, cars and trucks providing essential goods and services are exempted. Restricting access ...

Bloomberg Germany’s efforts to limit the economic damage from a prolonged coronavirus shutdown are gathering steam, as aid applications pour in and officials seek a path to restart all-important auto production. Under a government program aimed to providing strapped businesses with financial liquidity, 2,500 companies have requested a total of 10.6 billion euros ($11.6 billion) in aid, according to state ...

Bloomberg The global economic slowdown is causing the biggest drop in food prices since 2015 as demand shrinks for everything from dairy to sugar. The FAO Food Price Index, a global gauge of prices, dropped 4.3% in March, the United Nations’ Food & Agriculture Organisation said. That’s the steepest decline since August 2015. Food costs fell as government restrictions on ...

Bloomberg The number of Spaniards filing for jobless claims surged in March, the latest example of how the coronavirus pandemic is upending people’s livelihoods around the world. The increase in jobless hits particularly hard in Spain, where the unemployment rate is already 13.8%, among the highest in the developed world. The Labour Ministry said claims rose by 302,265 people in ...

Bloomberg Oil held near $20 a barrel as Saudi Aramco’s output surged above 12 million barrels a day, but Russia said it would refrain from further production hikes. Crude futures in New York were little changed on Wednesday, following a record decline in the first quarter. While state-run Aramco’s oil supply has surpassed 12 million barrels a day and is ...

Dubai / WAM Dubai Aerospace Enterprise (DAE) announced that it ended Q1 2020 with available liquidity of approximately $2.8 billion. DAE’s owned, managed and mandated-to-manage fleet exceeded 400 aircraft. During the said period, DAE sold or novated 15 aircraft, acquired 4 aircraft and transitioned or extended leases on 8 aircraft. Commenting on announcement, Firoz Tarapore, DAE’s Chief Executive Officer, said, ...

DUBAI / WAM Dubai Economy launched a ‘Price Monitor’ portal to track daily prices of staple foods and essentials making sure that consumers continue to get their basic needs at fair prices in spite of the precautionary measures being adopted in view of the coronavirus (Covid-19). A dedicated portal – Price.ded.ae – has also been launched to strengthen communication with ...

Bloomberg India kicks off its fiscal year with revenues under severe strain. A prolonged slowdown in the economy depressed tax collections in the financial year that ended on Tuesday, latest official data show. As India now conducts the world’s biggest lockdown, budget pressures are set to worsen. Finance Minister Nirmala Sitharaman has already outlined a virus relief package of $22.5 ...

Dubai / WAM Total volumes on the Dubai Gold and Commodities Exchange (DGCX) in March totalled 1.8 million contracts, valued at $45.133 billion. The Average Daily Volume (ADV) throughout the same month registered 81,850 contracts. As the Covid-19 pandemic causes volatile swings in markets across the globe, investors are making increasing use of Exchange’s derivatives products and services as risk ...

Bloomberg Factories around the world suffered one of their grimmest months on record in March, as the coronavirus led to mass shutdowns and wreaked havoc on supply chains. Figures from Asia and Europe showed measures of manufacturing activity dropped sharply, with some at their lowest since the financial crisis more than a decade ago. In Italy, an index of output ...