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Fujairah / WAM Volumes of oil products held in storage at Fujairah climbed to their highest since the all-time high seen in February as tumbling demand from the coronavirus pandemic left more supplies in the eastern UAE port. Stocks rose 5.3 percent over the past week to 24.953 million barrels, with the greatest build seen in light distillates, according to ...

SHARJAH / WAM The Sharjah Chamber of Commerce and Industry (SCCI) underlined its keenness on the constant coordination with the private sector to support its activities in the emirate of Sharjah in general and in eastern and central regions in particular. The coordination will be through the chamber’s branches in these cities by creating an enabling environment to enhance the ...

Bloomberg India will allow makers of information technology hardware, farmers and industries in rural areas to resume operations after April 20 as Prime Minister Narendra Modi crafts a plan to exit the world’s biggest lockdown and revive stalled economic activity. Amid a three-week lockdown that’s been extended to May 3, the government will also lift restrictions to allow e-commerce companies, ...

Bloomberg Singapore home sales slumped in March and are set to take a harder hit in coming months as the government enforces a more draconian lockdown that threatens to bring the property market to a standstill. Sales in the city-state fell 32% to 660 units last month — even before the toughest curbs were imposed — from 976 in February, ...

Bloomberg Denmark may issue securities in foreign currencies for the first time in years as the government debt office pulls out the stops to finance programs to support the economy through the coronavirus crisis. While issuing in Danish kroner is the preferred option, Denmark is “one of the few countries in the world with the highest credit rating” and therefore ...

Bloomberg Tesla Inc. is headed for its seventh straight session of gains after Credit Suisse upgraded the electric-car company whose stock has been on a tear since its first-quarter delivery report. Shares of the Model 3 maker rose as much as 8.1% before the start of regular trading, putting them on track for a more than 50% climb in the ...

Bloomberg New Zealand’s government is preparing additional fiscal measures to limit a surge in unemployment as it battles the coronavirus, Finance Minister Grant Robertson said. “Work on further significant government investment to protect jobs, support cashflow, and prepare the economy for recovery is well advanced,” Robertson said in Wellington. Scenarios released by the Treasury department show that unemployment “can be ...

Bloomberg Republicans are ratcheting up efforts to paint China as the villain in the coronavirus pandemic, seeking to shift blame as President Donald Trump faces increased criticism of his handling of a crisis that has shuttered the US economy. The Trump campaign sent out a fundraising email that accused China of “lying” about the outbreak and saying the country must ...

DUBAI / WAM DMCC, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise, is accelerating its digital outreach to support its member companies and attract new business to Dubai. For the first time, DMCC successfully hosted its flagship ‘Made for Trade Live’ international roadshow event virtually with business leaders in Johannesburg, South Africa, seeking ...

ABU DHABI / WAM The UAE stock markets have maintained their competitive edge in the Gulf and Middle East region over the past period, as their average Price Earnings Ratio (P/E Ratio) stood at 12.43 times over the past 12 months, according to recent statistics released by the Abu Dhabi Securities Exchange and Dubai Financial Market. The most popular metric ...