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Bloomberg Germany has pledged 2 billion euros ($2.2 billion) to help its beleaguered startups, but the policy has stalled after the country’s governmental departments failed to agree on who has to pay. More than two weeks after the aid plan has been announced, Germany’s finance and economy ministries are yet to find common ground over who is responsible for paying ...

Bloomberg A top Wuhan laboratory official has denied any role in spreading the new coronavirus, in the most high profile response from a facility at the center of months of speculation about how the previously unknown animal disease made the leap to humans. Yuan Zhiming, director of the Wuhan National Biosafety Laboratory, hit back at those promoting theories that the ...

ABU DHABI / WAM The UAE has maintained its global leadership in maximising coronavirus tests in terms of the number of tests per one million people. It has also implemented precautionary measures appreciated by the entire community. According to statistics from the Worldometer website, the UAE has performed over 77,550 tests per million people and has expanded its coronavirus drive-through ...

Dubai / Emirates Business In a bid to support business continuity and enable its business partners to overcome the effects of the current economic slowdown following the outbreak of the Covid-19 pandemic, Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis (DSO), on Sunday announced exemptions, incentives and flexible payment plans for companies, commercial tenants, and residents ...

ABU DHABI / WAM The United Arab Emirates has sent a plane carrying 18 metric tons of medical and food aid to Mauritania as a gesture of solidarity in the fight against the Covid-19 pandemic. The shipment, which contained testing kits, medical devices, and food supplies, will assist approximately 10,000 healthcare workers in Mauritania as they work to contain the ...

DUBAI / Emirates Business Dubai Future Foundation (DFF) has launched the “One Million Arab Coders” Covid-19 Hackathon to engage Arab coders from around the world to develop innovative solutions to challenges that have emerged due to the Covid-19 outbreak, such as access to healthcare services, education, social solidarity and supporting startups. These innovative solutions seek to create effective services and ...

Bloomberg Cafes bustled with customers, parks teemed with sunbathers, and the first Apple store to reopen outside China had lines snaking out the door as many South Koreans — almost all wearing masks — emerged from months of self-isolation. The scene in Seoul on a picture-perfect weekend contrasted sharply with other nations where major cities look like ghost towns as ...

Bloomberg India recorded its largest daily spike in coronavirus cases, adding 1,400 new infections to its tally of more than 16,000 amid a nationwide lockdown that’s about to enter its fourth week. The South Asian nation’s cases have been surging over the last week as it gradually scales up its testing capacity. Confirmed infections are up 78% to 16,365 on ...

Bloomberg Just weeks after a surging dollar was causing havoc in world financial markets, President Donald Trump has decided that a muscular US currency is a good thing after all. “The dollar is very strong,” he told a press conference. “And dollars — strong dollars are overall very good.” The comment marked a U-turn from the president’s rhetoric for much ...

Bloomberg Mexico’s economic contraction may be deeper than expected, according to Scotiabank. The bank now estimates Mexico’s gross domestic product (GDP) to drop 8.4% in 2020, more than the 5.77% contraction it predicted on March 20, due to the increasingly adverse economic indicators, Economia Hoy newspaper reported. The forecast was adjusted due to the lack of an effective policy response ...