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Bloomberg Singapore’s economy is facing its worst contraction since independence more than a half-century ago as the coronavirus outbreak and measures to contain it pummel the trade-reliant city-state. The government expects gross domestic product to shrink 4% to 7% this year, down from a previous forecast of a 1%-4% contraction, as the outlook for external demand deteriorates, the Ministry of ...

Bloomberg India has moved additional troops along its northern border as it prepares for an extended conflict with neighbour China, after several rounds of talks failed to ease tensions between the nuclear-armed rivals. China has already placed about 5,000 soldiers and armoured vehicles within its side of the disputed border in the Ladakh region, an Indian government official said, asking ...

Bloomberg The euro-area economy is facing a contraction this year in line with the European Central Bank’s (ECB) more pessimistic forecasts, according to Christine Lagarde. Output in the region is likely to shrink between 8% to 12%, the ECB president said in an online question-and-answer session targeted at European youth. Estimates for a mild scenario are “out of date.” “We’ll ...

Bloomberg President Emmanuel Macron unveiled a raft of measures aimed at reviving France’s struggling car industry and drawing manufacturing back to local factories. The plan includes incentives for the purchase of electric cars, cash-for-clunkers to encourage consumers to trade in older, more polluting cars and subsidies for struggling car-parts makers. The total of roughly 8 billion euros ($9 billion) also ...

Bloomberg Brazil, the biggest exporter of beef and chicken, is betting on a new set of safety standards to avoid the kind of mass processing disruptions that caused meat shortages and price spikes in America. The South American farming powerhouse plans to introduce new national guidelines that incorporate requirements from local authorities and labour prosecutors, Agriculture Minister Tereza Cristina Dias ...

DUBAI / WAM Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) held a virtual meeting with key aviation and hospitality partners to discuss current and post-pandemic strategies and joint initiatives aimed at ensuring the tourism industry’s gradual return to normalcy. The meeting also discussed global efforts to minimise the transmission of Covid-19 and precautionary measures deployed to safeguard the ...

HADRAMAUT / WAM On the directives of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, with the monitoring of HH Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region, and Chairman of the Emirates Red Crescent (ERC) the ERC distributed 770.4 tonnes of ...

ABU DHABI / WAM Warehouse421, the home-grown arts and design centre dedicated to showcasing and nurturing creative production across the region, has launched the ‘Warehouse421 Project Revival Fund’, to alleviate disruption impacts on the creative industry. In a statement, the arts centre encouraged visual artists, curators, literary creatives, designers and musicians in the Middle East, North Africa and South Asia ...

ABU DHABI / WAM The Ministry of Health and Prevention announced on Sunday that it conducted over 28,000 additional Covid-19 tests using state-of-the-art medical testing methods. In a statement, the ministry affirmed its aim to expand the scope of testing nationwide to facilitate the early detection of coronavirus cases and carry out the necessary treatment. As part of its intensified ...

DUBAI / WAM The Dubai Electricity and Water Authority (Dewa) and Chinese multinational technology company, Huawei, have explored ways to expand their strategic partnership in the artificial intelligence (AI) and digital transformation cooperation fields. During a video conference, Saeed Mohammed Al Tayer, Dewa Managing Director and CEO, and Charles Yang, President of Huawei Middle East, discussed strengthening cooperation and promoting ...