News

ABU DHABI / WAM The Department of Government Support, which is represented by the Abu Dhabi Digital Authority (ADDA) announced the full availability of Department of Economic Development “Commercial Licences” through Abu Dhabi Government Services ecosystem, “TAMM”, allowing business owners to easily access services and complete transactions digitally. The Department of Economic Development, ADDED, is the first government entity that ...

Bloomberg Mizuho Financial Group Inc will book a 32.9 billion yen ($306 million) charge on its securities holdings in the just-completed quarter due to the coronavirus-fueled stock market rout. The writedown stems from a “significant decline” in the fair value of some securities held by the group’s lending, trust banking and securities units, Tokyo-based Mizuho said in a statement. It ...

Bloomberg The economic fallout from the coronavirus epidemic will prevent almost 24 million people from escaping poverty in East Asia and the Pacific (EAP) this year, according to the World Bank. In a report, the Washington-based lender also warned of “substantially higher risk” among households that depend on industries particularly vulnerable to the impact of Covid-19. These include tourism in ...

Bloomberg Singapore health authorities said an elderly man with no recent travel history to affected countries died on Saturday, marking the sixth fatality for the city-state, according to an emailed statement. The nation’s Ministry of Health said the 88-year-old male permanent resident, who was admitted to intensive care on March 30, passed away after developing serious complications. The man had ...

Bloomberg Thousands of health officials across India are racing to identify people connected to at least 10 virus hotspots, as the infection rate continues to climb in the world’s second most populous country. In the capital New Delhi, more than 8,500 Muslims attended a gathering in mid-March that is now the focus of an urgent contact tracing effort stretching though ...

Bloomberg Australia’s New South Wales police are leading a massive marine operation in Sydney Harbour to provision five cruise ships that have been floating off the coast so they can return to their home ports, as authorities seek to cut the threat of coronavirus transmissions from the vessels. Dubbed Operation Nemesis, the plan has seen police on Saturday working with ...

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 ...