April, 2020

• 13 April

  DP World takes ‘rapid, resolute’ safety steps amid pandemic

  

  DUBAI / WAM DP World UAE Region announced on Monday that it has implemented a “rapid and resolute” action plan to secure the health and safety of its people and its services across all its business, logistics and supply chain assets to keep essential trade flowing in the midst of the global pandemic. The comprehensive and inclusive measures are being ...

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• 13 April

  Smart Dubai Department launches new data sharing toolkit

  

  Dubai / WAM The Smart Dubai Department launched a Data Sharing Toolkit in partnership with globally renowned innovation foundation, Nesta, to help unlock the value of data by creating trusted and ethical mechanisms for individuals, as well as public and private sector organisations, to share data. The new initiative was launched on International Open Data Day on March 7. Designed ...

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• 13 April

  UAE central bank urges banks to help private companies, SMEs, individuals

  

  ABU DHABI / WAM The governor of the central bank of the UAE (CBUAE), Abdulhamid Saeed, held his first meeting with CEOs of banks operating in the country to emphasise the systemic significance of extending support to private sector companies and individuals affected by Covid-19 as part of the Targeted Economic Support Scheme (TESS).The meeting comes as part of its ...

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• 13 April

  India seeking ways to resume road projects before lockdown ends

  

  Bloomberg India is seeking ways to resume construction of highways and arterial roads in districts least impacted by the coronavirus outbreak as it charts out a plan to revive Asia’s third-largest economy. Builders were constructing 31 kilometres (19.3 miles) of roads a day before Prime Minister Narendra Modi ordered the lockdown starting from March 25. India plans to spend $12 ...

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• 13 April

  Contraction in Chinese trade to continue as global outlook dims

  

  Bloomberg The contraction in China’s foreign trade is set to continue through the second quarter, as global demand remains depressed by measures to curb the ongoing coronavirus outbreak. Both exports and imports are forecast to have slumped 10% or more in March, with data due on Tuesday expected to show a continuation of the declines seen in the first two ...

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• 13 April

  Manila bars doctors from going abroad to boost health force

  

  Bloomberg The Philippines has temporarily barred doctors, nurses and other health workers from leaving for overseas work amid the coronavirus outbreak, a move that irked its top diplomat who pledged to fight the ban. The Philippine Overseas Employment Administration issued a resolution on April 2 halting the departure of workers in 14 medical professions for the duration of the nation’s ...

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• 13 April

  Covid-19: Meituan turns down claims it exploited restaurants

  Bloomberg China’s largest food-delivery site Meituan has hit back against allegations that it charged onerous commissions to restaurants during the Covid-19 outbreak, underscoring the delicate balance the company must strike to get its business back on track. Responding to complaints from a restaurant association in the southern province of Guangdong, Meituan said its average profit per delivery order was less ...

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• 13 April

  China startups tumble on regulator comments

  

  Bloomberg China’s securities regulator punished two high-flying startups for misleading shareholders, barring them access to public markets for new funding. Shares of Ningbo Ronbay New Energy Technology Co and Zhejiang HangKe Technology Inc closed down at least 10% in Shanghai after the companies were told they wouldn’t be allowed to sell stocks or bonds publicly for a year. The punishment ...

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• 13 April

  Trump’s Big Oil deal not to save shale producers

  

  Bloomberg President Donald Trump said the “Big Oil deal” sealed will save hundreds of thousands of American jobs. But the agreement he brokered depends on a sharp downturn in shale that will likely bring about a wave of bankruptcies and job cuts. Days of frantic diplomatic maneuvering culminated in an agreement by Opec+ to pare production by 9.7 million barrels ...

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• 13 April

  China’s ‘green zone’ coal price tested as virus fight continues

  

  Bloomberg China’s coal prices have sunk to levels that threaten state intervention, but this time policy makers may refrain from doing so as they continue efforts to buttress the economy hurt by the coronavirus pandemic. The government will try to keep power prices low as it pushes to restart the economy, according to analysts. That goal will be helped by ...

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