May, 2020

• 7 May

  Dubai Chamber completes 106,145 e-transactions

  

  DUBAI / WAM The Dubai Chamber of Commerce and Industry revealed that it completed 106,145 electronic transactions during March and April this year, making it easier for its members to conduct their business, and reinforcing the chamber’s commitment to ensure business continuity in the emirate. The e- transactions accomplished by the chamber during this period covered, most notably Certificates of ...

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• 7 May

  Dirham appreciates against top ten import partners

  

  ABU DHABI / WAM The UAE Dirham has appreciated against the currencies of top 10 non-dollarised import partners by 1.8 percent in 2019, according to central bank of the UAE statistics. These partners account for around 51.4 percent of the UAE’s total imports. In the meantime, the UAE currency gained more ground against the currencies of emerging economies, according to ...

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• 7 May

  Emirates operates 100 daily cargo flights

  DUBAI / WAM Emirates SkyCargo is leading the global cargo industry during these critical times in delivering essential supplies and commodities to people around the world, operating close to 100 daily cargo flights to a destination network spanning more than 65 cities across six continents. The air cargo carrier is currently operating 11 Boeing 777 freighter aircraft, each with a ...

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• 7 May

  Emirati researcher develops tech for ‘artificial soil’

  

  ABU DHABI / WAM Khalifa University of Science and Technology has on Thursday announced promising results and findings on its research to develop ‘artificial soil’ with the necessary ingredients and properties required for the growth of plant and vegetation, thus paving the way for the agriculture sector to grow further in the UAE. A provisional patent application has been filed ...

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• 7 May

  India looks to lure 1,000 US firms out of China

  

  Bloomberg India is seeking to lure US businesses, including medical devices giant Abbott Laboratories, to relocate from China as President Donald Trump’s administration steps up efforts to blame Beijing for its role in the coronavirus pandemic. The government in April reached out to more than 1,000 companies in the US and through overseas missions to offer incentives for manufacturers seeking ...

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• 7 May

  Korea’s largest fintech startup CEO planning to raise $200mn

  

  Bloomberg Viva Republica Ltd, operator of South Korea’s largest fintech startup Toss, is planning to raise about $200 million from investors to bankroll its expansion in online banking and security trading services. The company just embarked on its funding round and hopes to complete it in coming months, founder Lee Seung-gun said in an interview, declining to disclose the expected ...

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• 7 May

  Philippines GDP dips for first time since 1998

  Bloomberg The Philippine economy contracted in the first three months of 2020 as restrictions to stem the coronavirus outbreak shut most businesses and sapped consumption, a trend seen worsening in the current quarter. Gross domestic product fell 0.2% in the first quarter compared to a year ago, using 2018 as the new base year, the Philippine Statistics Authority said. That ...

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• 7 May

  Unexpected gain in Chinese exports seen as temporary

  

  Bloomberg China’s exports unexpectedly rose in April aided by stronger shipments to South East Asia, though with the coronavirus pandemic damaging global demand that increase is likely to be temporary. Imports fell. Exports rose 3.5% in dollar terms in April from a year earlier, while imports dropped 14.2%, the customs administration said on Thursday. Economists had forecast that exports would ...

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• 7 May

  Don’t let coronavirus destroy refugee camps

  

  A peculiar fact about the coronavirus catastrophe so far is that the world’s poorest have largely been spared the worst. Of the 10 countries with the most deaths to date, nearly all are among the wealthiest. But if the virus has overwhelmed places with modern hospitals and world-class medical infrastructure — as anyone who’s been in New York or Milan ...

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• 7 May

  No place is like home in Covid-19 HK 

  

  If working from home during the pandemic has shown anything, it’s that apartments and houses are our castles, like it or not. Hong Kong is emerging from a semi-lockdown (restaurants open, schools shut, workers everywhere on the home-office spectrum) and it’s clear that investors see refuge in housing, too. The world’s least-affordable residential prices look likely to keep floating in ...

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