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Bloomberg India’s latest set of incentives to entice businesses moving away from China seem to be working, with companies from Samsung Electronics Co to Apple Inc’s assembly partners showing interest in investing in the South Asian nation. Prime Minister Narendra Modi’s government in March announced incentives that make niche firms — electronics manufacturers — eligible for a payment of 4%-6% ...

Bloomberg Thailand’s economy contracted the most in more than two decades, deepening its recession as the nation’s key drivers of trade and tourism remain hobbled by the global coronavirus pandemic. Gross domestic product (GDP) shrank 12.2% from a year ago, the National Economic and Social Development Council said on Monday, its biggest decline since the Asian financial crisis in 1998. ...

Bloomberg Belarus opposition leader Svetlana Tikhanovskaya said she’s ready to be interim president in place of incumbent Alexander Lukashenko as national strikes were starting a day after the country’s biggest opposition protest. “I am ready to take responsibility and act in this period as national leader” until new presidential elections are held, Tikhanovskaya said in a video address published on ...

Bloomberg German Finance Minister Olaf Scholz proposed extending job-preserving subsidies during the coronavirus crisis to 24 months, saying the measure would cost the government an extra $12 billion. Chancellor Angela Merkel’s government re-launched short-time compensation to shield workers and companies in Germany from massive job cuts during the pandemic. The benefit, normally limited to 12 months, initially covers as much ...

Bloomberg The Panama Canal is seeing signs of a rebound in global trade as ship transits recover from the depressed levels caused by the pandemic. Total transits through the waterway rose to 933 in July, from 845 in June, which was the fewest since the canal opened an expanded set of locks four years ago to accommodate bigger ships. Initial ...

Bloomberg The UK economy will likely be smaller at the end of 2021 than it was before plunging into a record recession this year, according to a Bloomberg survey that casts fresh doubt over Bank of England projections. Calculations based on the median estimate of economists polled this month show gross domestic product (GDP) is set to be around 5% ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, reviewed the working plans and objectives of the Ministry of Industry and Advanced Technology, which was recently established as part of the latest UAE cabinet structure announced by him on July 5 to develop the country’s industrial sector ...

Abu Dhabi / WAM General Holding Corporation (Senaat) a part of ADQ and other minority shareholders of National Petroleum Construction Company (NPCC) announced that it has submitted an offer to the Board of National Marine Dredging Company (NMDC) to combine NPCC with NMDC. The proposed transaction would create a new national and regional integrated EPC champion with an established footprint ...

Abu Dhabi / WAM Abu Dhabi Airports Free Zone (ADAFZ) a wholly owned subsidiary of Abu Dhabi Airports, has recorded a 109 percent increase in the number of companies registering with the free zone authority in the first half of 2020, as compared to the same period in 2019. ADAFZ has also welcomed two major international companies, SMSA Express and ...

Abu Dhabi / WAM The National Health Insurance Company – Daman’s Board of Directors on Sunday announced the confirmation of Hamad Al Mehyas as the company’s Chief Executive Officer. He led the company following a major reorganisation last year when he was promoted from Chief Commercial Officer – Abu Dhabi to Deputy CEO. Commenting on the appointment, Tareq Abdulraheem Al ...