March, 2020

• 31 March

  Covid-19: Congress, Fed are saving lives

  

  Authorities’ efforts to stem the spread of the coronavirus have plunged the US economy into a sharp contraction, leading some to argue that the cure may be worse than the disease. This misguided thinking ignores a crucial consideration: As Congress and the Federal Reserve have demonstrated, we can improve the trade-off by lowering the cost of saving lives. No doubt, ...

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• 31 March

  Can you sell house on Zoom and WhatsApp?

  

  The UK housing market — that obsession of middle-class Brits — has been placed in suspended animation. Buyers and renters have been told to delay moving home to limit the spread of coronavirus. While a few transactions are still going through, a functioning market depends on prospective buyers and surveyors being able to view people’s homes. Mobility restrictions and distancing ...

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• 30 March

  Covid-19: Expo 2020 Dubai could be moved to next year

  

  Dubai / WAM Expo 2020 Dubai has convened a second virtual meeting of its Steering Committee, with representatives of the countries taking part in the event, as part of ongoing consultations that the impact of coronavirus (Covid-19) will have on global preparations of Expo 2020 Dubai. Participating countries briefed the Steering Committee on the global precautionary measures that have to ...

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• 30 March

  Oil sinks to 17-year low as market drowns in crude

  

  Bloomberg Oil slumped to a 17-year low as coronavirus lockdowns cascaded through the world’s largest economies, leaving the market overwhelmed by cratering demand and a ballooning surplus of crude. Futures in London fell as much as 7.6% to lowest since November 2002, while New York crude briefly dipped below $20 a barrel. Physical oil markets are struggling to store fuel, ...

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• 30 March

  ADCB says no layoffs in 2020 due to Covid-19

  

  ABU DHABI / WAM ADCB Group, including Al Hilal Bank, on Monday announced its commitment to ensure the continuity of employment at the Bank, pledging that no employee will be made redundant during 2020 as a result of coronavirus (Covid-19) pandemic. Commenting on the announcement, Khaldoon Al Mubarak, Chairman of ADCB Group, said, “The banking sector plays an important role ...

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• 30 March

  Saudi tells banks to support businesses to avoid job cuts

  

  Bloomberg Saudi Arabia’s central bank is ordering lenders to provide concessional loans to businesses grappling with the fallout of the coronavirus so companies won’t have to cut jobs. The Saudi Arabian Monetary Authority (Sama) wants banks to immediately put in place a lending program for at least six months to “assist in maintaining employment levels,” according to a document sent ...

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• 30 March

  GMIS 2020 to go virtual

  HANNOVER / WAM The Global Manufacturing and Industrialisation Summit (GMIS) – a joint initiative by the UAE Ministry of Energy and Industry and the United Nations Industrial Development Organisation (UNIDO) on Monday announced that the third edition of its Summit (GMIS 2020) will be converted into a series of digital sessions. The summit invited thought-leaders from the global manufacturing community ...

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• 30 March

  Australia pledges $80b on wages subsidy to save jobs

  

  Sydney / WAM Australia will spend AU$130 billion ($79.85 billion) to subsidise the wages of an estimated six million people, marking a third tranche of stimulus designed to limit the fallout of the coronavirus pandemic on the country’s economy, Reuters has reported. Australian Prime Minister Scott Morrison said the six months of funding was necessary to ensure businesses were able ...

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• 30 March

  Dewa’s virtual employee Rammas responds to 1.2m queries

  

  DUBAI / WAM Dubai Electricity and Water Authority (Dewa) has announced that Rammas, its virtual employee that uses Artificial Intelligence (AI) responded to over 1.2 million queries in 2019. Rammas is available round the clock to answer written queries and audio chat in both Arabic and English. It is available on Dewa’s smart app, website, Facebook page, Amazon’s Alexa, Google ...

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• 30 March

  Five more apps available for distance learning: TRA

  

  DUBAI / WAM The Telecommunications Regulatory Authority (TRA) announced on Monday that an additional five applications were made available across all UAE networks. In a statement, the TRA noted that it had coordinated with UAE telecom operators — Etisalat and du — to the applications accessible “on an exceptional basis and until further notice” as part of the UAE’s efforts ...

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