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DUBAI / WAM In support of “Stay Home” initiative, the Telecommunications Regulatory Authority (TRA) in the UAE issued a circular to the telecommunications companies to put on hold the suspension and disconnection of mobile services due to the expiry of the supporting documents and the Emirates ID. Accordingly, mobile service of subscribers with expired ID documents will not be disconnected ...

Bloomberg China’s top leaders pledged to widen the fiscal deficit and sell sovereign debt, signalling that Beijing is preparing larger-scale stimulus to counter the economic fallout from the coronavirus. China will increase its fiscal deficit as a share of gross domestic product, issue special sovereign debt and allow local governments to sell more infrastructure bonds as part of a package ...

Bloomberg Sugar mills in India, the world’s third-biggest shipper, will probably miss their export target this year as a nationwide lockdown to prevent the spread of the coronavirus disrupts logistics at ports. The country won’t be able to ship 5 million tons in the year to September, as expected earlier, because of a shortage of labor at ports and mills, ...

Bloomberg The International Monetary Fund (IMF) will provide $50 billion in emergency facilities to low-income and emerging-market countries to mitigate the economic shocks of the coronavirus, including $10 billion in concessional loans. “Our member countries need us more than ever,” the IMF said on its website Wednesday. “Discussions between IMF teams and country officials are advancing quickly.” The IMF has received ...

Bloomberg They’d just bet millions on a hotel makeover, were waiting tables while pursuing their dream, or toiling in an already tough oil market. Canadians have seen their world upended in a matter of days as the coronavirus shuts down huge swaths of the economy. Now, they’re trying to figure out how to make ends meet and negotiate a maze ...

Bloomberg The shutting of European borders in a bid to contain the coronavirus pandemic is about to derail a 200 billion-zloty ($47 billion) industry. The Polish construction sector, which employs 400,000 people and accounts for 8% of gross domestic product, faces unprecedented trouble amid concerns over the Ukrainian workforce it depends on. The builders are gradually heading back to their ...

Bloomberg A Trump administration effort to blame China for spawning the coronavirus has stalled for now at the United Nations Security Council (UNSC), with other countries focused exclusively on urging joint global action to fight the pandemic. UN members Indonesia, Ghana, Singapore, Liechtenstein, Norway and Switzerland are proposing that the 193-member General Assembly adopt a text calling for “international cooperation ...

Dubai / WAM His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, chaired the Annual General Meeting of Dubal Holding LLC (DH), the investment arm for the Government of Dubai for power and energy, commodities, mining and industrial projects, at the Ruler’s Court. Saeed Mohammed Al Tayer, Vice Chairman of Dubal Holding, the ...

ABU DHABI / WAM The UAE cabinet chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, approved a series of decisions that benefit subscribers of the Federal Authority of Water and Electricity, and seeks to support retails, hotels and industrial sectors. The move is part of the UAE’s ...

DUBAI / WAM Dubai Economy has directed commercial establishments in the emirate to close down for two weeks starting from Wednesday in line with the preventive measures announced by the Ministry of Health and Prevention and the National Emergency Crisis and Disaster Management Authority in view of the Covid-19 pandemic. According to a press release issued by Dubai Economy on ...