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Bloomberg The South Korean government unveiled a 76 trillion won ($62 billion) ‘New Deal’ spending plan to reshape the economy in the aftermath of the pandemic after slashing its growth forecast for the year. The plan, first outlined by President Moon Jae-in in April, aims to refocus the economy through 2025 by supporting job growth and new industries. It will ...

Bloomberg Chinese manufacturers that dominate nearly every step in the global solar power supply chain are being forced to slash prices as the coronavirus disrupts projects around the world. Costs for components like wafers and cells have fallen by as much as 20% since the start of the year. They likely haven’t bottomed out yet, either, as the outlook for ...

Bloomberg Chinese officials and state media needled the Trump administration over race-related protests and looting that have engulfed US cities in recent days, after weathering criticism and threats from Washington over Beijing’s own moves to quell unrest in Hong Kong. Over the weekend, China’s foreign ministry and state media seized the opportunity to fire back at Trump. Chinese propaganda outlets ...

Bloomberg Facing the worst recession in more than a decade, Vladimir Putin plans to roll out a spending plan to rival stimulus packages in other major economies. The Russian president’s government says the plan envisions support equivalent to a 10th of annual economic output. But analysts from Bloomberg Economics and some of Wall Street’s biggest banks say the level is ...

Bloomberg The UK government is preparing to unveil an economic stimulus package in July as it steps up attempts to lessen the depth of the recession caused by the coronavirus pandemic, the Financial Times reported, citing unidentified government officials. Chancellor of the Exchequer Rishi Sunak is working on proposals to invest in training programs, infrastructure and help for technology firms, ...

Bloomberg Three buyout funds offered to acquire Spanish phone company Masmovil Ibercom SA for 3 billion euros ($3.3 billion), in one of the largest private equity deals to emerge during the coronavirus. Its shares surged the most on record. KKR & Co., Cinven Ltd. and Providence Equity Partners LLC offered 22.5 euros a share for the company. The bid, which ...

DUBAI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, will continue to serve all and pursue all efforts to deliver the UAE Centennial Plan 2071 which aims to make the UAE among the best countries in the world. “The government has worked remotely with efficiency, during ...

RAS AL KHAIMAH / WAM Following the directions of His Highness Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, and follow-up from HH Sheikh Mohammed bin Saud bin Saqr Al Qasimi, Crown Prince of Ras Al Khaimah, Chairman of the Executive Council, the Government of Ras Al Khaimah has announced the launch of ...

ABU DHABI / WAM The Emirates Nation Brand’s commitment to plant a tree for every vote received during the Nation Brand Selection Campaign is being fulfilled, despite travel restrictions, curfews and lockdowns being experienced as the world counters the new coronavirus. The long-term planting projects will bring much-needed stability and continuity to rural communities in both Nepal and Indonesia, with ...

ABU DHABI / WAM The Emirates News Agency (WAM) has broadened the scope of its news services by adding five new languages, which are Sri Lankan (Sinhala), Malayalam, Indonesian, Bengali and Pashto, to offer its coverage to around 551 million people who speak these languages. The addition of the new languages is part of WAM’s efforts to achieve its news ...