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DUBAI / WAM DP World UAE Region announced on Monday that it has implemented a “rapid and resolute” action plan to secure the health and safety of its people and its services across all its business, logistics and supply chain assets to keep essential trade flowing in the midst of the global pandemic. The comprehensive and inclusive measures are being ...

ABU DHABI / WAM The governor of the central bank of the UAE (CBUAE), Abdulhamid Saeed, held his first meeting with CEOs of banks operating in the country to emphasise the systemic significance of extending support to private sector companies and individuals affected by Covid-19 as part of the Targeted Economic Support Scheme (TESS).The meeting comes as part of its ...

Bloomberg The contraction in China’s foreign trade is set to continue through the second quarter, as global demand remains depressed by measures to curb the ongoing coronavirus outbreak. Both exports and imports are forecast to have slumped 10% or more in March, with data due on Tuesday expected to show a continuation of the declines seen in the first two ...

Bloomberg China’s securities regulator punished two high-flying startups for misleading shareholders, barring them access to public markets for new funding. Shares of Ningbo Ronbay New Energy Technology Co and Zhejiang HangKe Technology Inc closed down at least 10% in Shanghai after the companies were told they wouldn’t be allowed to sell stocks or bonds publicly for a year. The punishment ...

Bloomberg The UK has paid out more than 1 billion pounds ($1.25 billion) to small businesses across the country to help them weather the coronavirus pandemic. Almost 100,000 firms have so far drawn on the cash from the government’s grants programs for small businesses, retailers and the hospitality sector, the Local Government Association said in an emailed statement on Monday. ...

Bloomberg Argentina will make an offer to its creditors “in the coming days” that will reflect the economic hit from the coronavirus pandemic, President Alberto Fernandez said in a newspaper interview. While debt talks are “going well,” calculations of debt sustainability will be affected by the impact of the virus, Fernandez was quoted as saying by Perfil. “The coronavirus affects ...

Bloomberg As the coronavirus pandemic leads to anxiety over the strength of the world’s food supply chains, everyone from governments to banks are turning to the skies for help. Orbital Insight, a California-based Big Data company that uses satellites, drones, balloons and cell phone geolocation data to track what’s happening on Earth, has seen inquiries about monitoring food supplies double ...

Bloomberg Parts of the US may be ready in May to ease emergency measures taken against the coronavirus pandemic but there’s no universal “light switch” to flip on, Dr Anthony Fauci said. There’s also the possibility of a Covid-19 rebound in the fall which could be a factor in November’s elections, he said. Fauci and a range of others, including ...

DUBAI / WAM Customs transactions in Dubai rose sharply by 60 percent to reach 4 million in Q1, 2020, from 2.5 million in the corresponding quarter last year, reflecting the resilience of Dubai economy and its ability to cope with changes and challenges. Declarations took the lion’s share of transactions completed by Dubai Customs in Q1 this year at 3.4 ...

ABU DHABI / WAM Emirates Islamic, part of the Emirates NBD Group, contributed AED 10 million to support the ‘Community Solidarity Fund Against Covid-19’ launched by the Islamic Affairs and Charitable Activities Department in Dubai. The Fund aims to support the effort to mitigate the health, economic and social challenges posed by the Covid-19 outbreak. Emirates Islamic is the first ...