Uncategorized

DUBAI / WAM The Ministry of Finance (MoF) announced the launch of the Federal Automated Revenue Estimation System (FARES) as part of its strategy to further enhance government operations in order to advance digital transformation in the country. The system will automate ministry’s revenue estimations model and further improve integration of data to calculate estimates based on statistical and accounting ...

Bloomberg Indonesia’s economic growth slowed sharply in the first quarter of the year, amid expectations the coronavirus pandemic will take an even heavier toll on Southeast Asia’s biggest economy in months ahead. Gross domestic product rose 2.97% in the first quarter from a year ago, the statistics office said on Tuesday. That was worse than the median estimate of 4% ...

Bloomberg Singapore, which is looking to increase virus testing fivefold among its population, faces a global shortage of some test kits and materials, according to its health minister. The city-state has to be “mindful” there’s a worldwide shortage, and therefore “we have to ensure that we have a continued supply and stock of these materials to allow us to continue ...

Bloomberg The world appears to have reached the limit of its tolerance for economic disruption. Even as the novel virus continues to put lives at risk, governments around the world are beginning the process of reopening. More than $7 trillion has been committed to relief efforts just in the past three months, and many more trillions will need to be ...

Bloomberg European governments have had to spend big to protect workers during the coronavirus restrictions, but the huge burden on the public finances looks like it’s worth it. More than 40 million workers have been furloughed during the shutdowns, based on data from the region’s biggest economies, getting a portion of their pay covered by the state. Without the government ...

Bloomberg Some of London’s most influential investors are giving UK companies extra time to find new board members because of the coronavirus crisis, potentially offering a group of long-standing chairmen an unexpected extension to their careers. Legal & General Investment Management (LGIM) will allow London-listed companies an additional 12 months to replace directors coming to the end of their recommended ...

Bloomberg On April 2, Zimbabwean finance minister Mthuli Ncube wrote to the International Monetary Fund and other leading multilateral lenders pleading for help. More than half of the population needs food aid, the economy collapsed even before the impact of the global coronavirus pandemic and the country’s health service is in tatters, he said. To date, he’s had no response. ...

ABU DHABI / WAM In an effort to collaborate and keep trade flows open during the ongoing Covid-19 crisis, Abu Dhabi Ports has joined 19 of the world’s leading port authorities in signing a first-of-its-kind virtual declaration. Hosted via video conference, the Ports Authorities Roundtable (PAR) Declaration calls on member ports to work together by allowing merchant ships to berth ...

ABU DHABI / WAM The United Arab Emirates on Monday sent an aid plane containing five metric tons of medical supplies to Botswana to bolster the country’s efforts to curb the spread of Covid-19. The aid will assist approximately 5,000 medical professionals as they work to combat the virus. Commenting on the aid delivery, Mahash Saeed Al Hameli, UAE Ambassador ...

DUBAI / WAM Expo 2020 Dubai has announced that it is gearing up to help shape a post-pandemic world and create a better future for all after a two-thirds majority of Bureau International des Expositions (BIE) Member States voted in favour of postponing the next World Expo by one year. The event will now run from October 1, 2021 to ...