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Bloomberg The Trump administration said it’s approved more than $52 billion in loan requests for small businesses so far in the relaunch of a coronavirus relief program, even as lenders said they’ve struggled to submit applications and advocates worry that funds will run out before many mom-and-pop firms get help. The US Small Business Administration (SBA) said it’s processed almost ...

Bloomberg Ford Motor Co.’s sagging stock fell further after the automaker forecast a more than $5 billion second-quarter operating loss due to the coronavirus pandemic’s blow to the global car industry. The projected deficit — which is about $2 billion worse than some analysts were anticipating — is based on Ford’s expectation for significant volume declines in every region. Ford ...

Bloomberg When the European Union (EU) presents its plan to rebuild its economy after the coronavirus, it’s likely to include three kinds of funding: taxpayers’ money, borrowed money and theoretical money. Officials in Brussels have a tendency to pad out their flashy headline figures with the theoretical stuff. But investors trying to gauge the strength of the policy response would ...

Bloomberg China’s plan to resume annual parliamentary sessions delayed by the coronavirus outbreak next month could be seen as a statement of the country’s commitment to get back to normal. The actual gathering may end up showing how much has changed. The National People’s Congress (NPC) will start its annual session on May 22, the official Xinhua News Agency said ...

ABU DHABI / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation and Dato’ Sri Hishamuddin Hussein, Minister of Foreign Affairs of Malaysia, discussed, in a Video Conference call, ties of friendship and joint cooperation between the UAE and Malaysia. HH Sheikh Abdullah extended greetings on the occasion of the Holy Month of ...

ABU DHABI / WAM His Highness Sheikh Khalid bin Mohamed bin Zayed Al Nahyan, Member of Abu Dhabi Executive Council and Chairman of Abu Dhabi Executive Office, participated in a video conference meeting, during which he checked up on the developments and outcomes to date of the remote learning process in schools and universities across the emirate. During the meeting ...

ABU DHABI / WAM Hub71, Abu Dhabi’s growing tech ecosystem, has expanded to 51 startups with the announcement of 15 new joiners to the Hub71 Incentive Programme. “The Hub71 Selection Committee prioritised global startups in the field of HealthTech and EdTech, which provide essential technologies to support the private and public sector as they adapt to the challenges of the ...

New York / WAM During the open debate of the UN Security Council (UNSC) on the fifth anniversary of the Youth, Peace and Security Agenda, the UAE encouraged the council to invite more young leaders to brief on a regular basis to reflect on individual experiences while pursuing peace and security in their societies. The UAE also urged the international ...

Bloomberg Nissan Motor Co warned that it expects to post a loss for the just-ended fiscal year, becoming the latest global automaker to be hit by the coronavirus pandemic. Full-year operating profit for the year to March will be as much as 130 billion yen ($1.2 billion) less than the 85 billion yen forecast in February, the Japanese automaker said ...

Bloomberg SoftBank Corp’s fifth-generation wireless service in Japan is living up to the hype in at least one respect — internet speeds that are blazingly fast even by the standards of one of the most connected countries in the world. The carrier’s month-old 5G network topped out at 1.1 gigabits per second for downloads and about 30 megabits for uploads ...