News

DUBAI/ WAM The Ministry of Economy during the ‘15th Gulf Consumer Protection Day’ conference revealed a new initiative aimed at reducing the price of 5000 food and consumer goods in various regions of the country, with reduction rates ranging between 25% to more than 60%, starting from March 1 to the end of this month. Dr. Hashim Al Nuaimi, Director ...

AJMAN/ WAM During a promotional trip to the Russian capital, Moscow, the Ajman Media City Free Zone (AMCFZ) presented the key services and investment advantages it provides, as part of its plan to expand to other regions and promote its services. Mahmoud Khalil Al Hashimi, Executive Director of the AMCFZ, said that the trip aims to attract Russian investors, companies, ...

ABU DHABI / WAM The 6th Annual Sustainable Business Leadership Forum 2020 is set to take place on March 18-19 at the Anantara Eastern Mangroves Hotel, Abu Dhabi. To be hosted by Abu Dhabi Sustainability Group (ADSG), the Forum will be held under the theme “Delivering business growth and contributing to societal growth”. It aims to promote and support sustainability ...

Bloomberg Indonesia is working on a second stimulus package to shore up Southeast Asia’s biggest economy, adding to the central bank’s aggressive moves to counter the impact of the coronavirus on financial markets. A new tranche of fiscal measures would be “sizable” and “bigger” than the first one of 10.3 trillion rupiah ($725 million) announced last week, Coordinating Minister for ...

Bloomberg Hon Hai Precision Industry Co, Apple Inc’s most important manufacturing partner, expects its Chinese plants to begin operating normally by the end of March after resolving severe labor shortages brought on by the coronavirus outbreak. The Taiwanese company, which assembles the majority of the world’s iPhones from China, joins a growing number of corporations envisaging a return to normalcy ...

Bloomberg For all of Elon Musk’s domination of the burgeoning electric-vehicle business, Tesla Inc is struggling to get traction in Japan, a market he put on a pedestal early in the automaker’s early days. The day after taking the electric-car maker public in June 2010, the first Roadster sports cars shipped to Asia weren’t destined for Shanghai — they went ...

Bloomberg Nissan Motor Co is ready to make deeper cuts to fixed costs as the carmaker’s business deteriorates in a tough environment exacerbated by the coronavirus, said Chief Executive Officer (CEO) Makoto Uchida, who is three months into his tenure atop the struggling company. The CEO has promised to unveil a turnaround plan in May for the Japanese giant, which ...

Bloomberg SoftBank Group Corp, facing skepticism of its investment strategy, conveyed a message to Wall Street: Now is the time to invest. Masayoshi Son, SoftBank’s founder and chief executive officer, (CEO)told a roomful of fund managers and financial institutions at a private meeting in New York that recent market declines present an opportunity to take stakes in companies at discounted ...

Bloomberg Singapore is on track to start 5G deployment this year and achieve standalone coverage across the country by 2025, as the city-state seeks to further develop digital infrastructure. The Infocomm Media Development Authority intends to award 5G spectrum by mid-2020 after earlier receiving three submissions from Singtel, TPG as well as a joint submission from StarHub and M1, Minister ...

Bloomberg UK Prime Minister Boris Johnson will unveil a suite of emergency measures to tackle coronavirus after he was criticised for not doing enough to prepare for the spread of the disease. Schools could be closed and sports and music events cancelled if needed to protect the public, Johnson told the BBC. He was expected to appear alongside Chief Medical ...