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DUBAI / WAM Lt. General His Highness Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior, on Tuesday said that the UAE excels in dealing with all crises and exceptional circumstances and has made positivity the basis of its developmental drive. “This achievement is attributed to the leadership of President His Highness Sheikh Khalifa bin Zayed ...

ABU DHABI / WAM Etihad Credit Insurance (ECI) and Abu Dhabi Exports Office (Adex) on Tuesday announced a strategic alliance to help UAE exporters overcome the most pressing challenges they face in the current economic climate. Adex and ECI will combine their highly complementary suite of financial and insurance products and services to bring to UAE businesses a full range ...

Bloomberg Fuel consumption in India is showing signs of rebounding after witnessing the worst monthly sales in more than 12 years. Demand in May will be as much as 25% higher than April as planting season begins, requiring tractors and water pumps to burn more diesel, and the easing of the world’s biggest lockdown brings more trucks back to the ...

Bloomberg China is allowing executives from some foreign companies to enter the country despite a coronavirus travel ban as it seeks to restart the economy, according to people familiar with the matter. The Ministry of Commerce told some key foreign companies they can apply for exemptions to the entry ban if they want to get executives back into China, the ...

Bloomberg Toyota Motor Corp warned profit will tumble 80% to a nine-year low and predicted it could take another year before global car sales return to pre-virus levels, the latest sign that expectations for a quick economic rebound are fading. Japan’s biggest automaker is targeting operating profit of 500 billion yen ($4.65 billion) for the year through March, the company ...

Bloomberg The nation’s top infectious disease official, Anthony Fauci, was expected to issue a stern warning against reopening the economy too soon during a Senate hearing on Tuesday, saying it risks multiple new coronavirus outbreaks throughout the country. The US risks “the danger of trying to open the country prematurely,” Fauci said in an email to a New York Times ...

Bloomberg The US Senate unanimously approved a bill seeking the restoration of Taiwan’s observer status with the World Health Organization (WHO), escalating an international campaign to push back against Chinese efforts to isolate the island. The bipartisan measure calls on the State Department to report about Taiwan’s participation as an observer at the World Health Assembly — a key WHO ...

Bloomberg Argentina extended the deadline for bondholders to consider a $65 billion restructuring offer, buying time for more talks after the government failed to win enough support to reach a deal. The government is open to accepting offers that both allow the country to reach its debt sustainability goals and enhance creditor recoveries, according to a statement. Hours earlier, Argentina ...

Bloomberg Elon Musk restarted production at Tesla Inc.’s only US car plant, flouting county officials who ordered the company to stay closed and openly acknowledging he was risking arrest for himself and his employees. “I will be on the line with everyone else,” the chief executive officer said in a tweet. “If anyone is arrested, I ask that it only ...

Bloomberg Almost a quarter of jobs in the UK are at risk due to coronavirus, and those earning low incomes are the most vulnerable, according to McKinsey. About 7.6 million workers are exposed to a reduction in hours, being furloughed or permanent layoffs during lockdown, the analysis published on Tuesday found. Nearly half those jobs are in occupations earning less ...