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Bloomberg Taiwan Semiconductor Manufacturing Co (TSMC) is sticking with plans for aggressive capital investments in 2020, a sign from the technology bellwether of resilient demand despite a pandemic-induced downturn. TSMC, a barometer for the tech industry thanks to its heft in the global supply chain, on Thursday lowered its revenue outlook for the year by a few percentage points to ...

Bloomberg Just one kilogram of freshly caught squid a day was almost enough to live on for Thai fishermen like Wisut Boonnak. Now the catch has halved in price and he’s spending more time on village duties. “It’s the biggest price drop that I can remember,” said Wisut, who’s been fishing for the past 40 years off the southern Thai ...

Bloomberg The International Monetary Fund (IMF) wants policy makers to avoid repeating the Depression-era mistake of ratcheting back budget deficits. Instead, it’s urging them to ramp up fiscal stimulus when the coronavirus contagion starts to abate. “Once the recovery has happened and we are past the pandemic phase, for advanced economies it would be essential to undertake a broad-based stimulus,” ...

Bloomberg The Trump administration would like to make purchases of milk and meat products as part of a $15.5 billion initial aid package to farmers rattled by the coronavirus, said Agriculture Secretary Sonny Perdue. “We want to purchase as much of this milk, or other protein products, mutton and other products, and move them into where they can be utilised ...

Bloomberg The Trump administration is preparing to attack the legal basis of requirements to capture mercury and other heavy metal pollution from power plants, setting the stage for a court to potentially toss out the mandates altogether. The move will come in the form of a final Environmental Protection Agency (EPA) rule concluding those mercury pollution controls are too costly ...

Bloomberg South Korean President Moon Jae-in’s ruling coalition scored the largest parliamentary election victory since the end of military-backed rule more than three decades ago, signalling to global leaders that a strong pandemic response can win votes. The ruling Democratic Party of Korea and its satellite group won 180 places in the 300-seat National Assembly, according to data from South ...

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has discussed the latest developments in the global fight against Covid-19 with Steve Sisolak, Governor of the US state of Nevada, and ways to contain its repercussions at the humanitarian, economic and other levels. ...

ABU DHABI / WAM The United Arab Emirates has condemned an attempted terror attack in the Arab Republic of Egypt that resulted in the killing of a policeman and the wounding of several others. In a statement, the Ministry of Foreign Affairs and International Cooperation praised the vigilance, sophistication, and efficiency of the Egyptian security forces’ response, which resulted in ...

Fujairah / WAM Volumes of oil products held in storage at Fujairah climbed to their highest since the all-time high seen in February as tumbling demand from the coronavirus pandemic left more supplies in the eastern UAE port. Stocks rose 5.3 percent over the past week to 24.953 million barrels, with the greatest build seen in light distillates, according to ...

SHARJAH / WAM The Sharjah Chamber of Commerce and Industry (SCCI) underlined its keenness on the constant coordination with the private sector to support its activities in the emirate of Sharjah in general and in eastern and central regions in particular. The coordination will be through the chamber’s branches in these cities by creating an enabling environment to enhance the ...