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Bloomberg Malaysia’s lockdown is the latest threat to a Singapore economy already reeling from the coronavirus outbreak. The city state relies heavily on its neighbour’s workers and food, and Malaysia’s move to ban all visitors and prevent residents from traveling overseas for about two weeks will choke off a key labour channel. Maybank Kim Eng Research Pte estimates that about ...

Bloomberg France will guarantee up to 300 billion euros ($335 billion) of bank loans to companies in an effort to bolster firms threatened by the impact of the coronavirus outbreak, President Emmanuel Macron said. The government will also allow companies to delay paying their taxes and social security contributions and provide support to help them delay loan payments, Macron said ...

Bloomberg Facebook Inc, Alphabet Inc.’s Google, Microsoft Corp., Twitter Inc. and Reddit said they are teaming up to provide accurate information about the coronavirus and the Covid-19 illness it causes. “We’re helping millions of people stay connected while also jointly combating fraud and misinformation about the virus, elevating authoritative content on our platforms, and sharing critical updates in coordination with ...

Bloomberg The euro area’s gigantic bailout fund is exploring how it can use its reserves to cushion the impact of a virus-induced recession, in a move that could help reassure markets after a spike in borrowing costs for the region’s most vulnerable economies. Klaus Regling, the head of the European Stability Mechanism, said Monday it has an unused lending capacity ...

Bloomberg President Donald Trump for the first time on his Twitter feed used the phrase “Chinese Virus,” stepping up friction between the world’s two biggest economies as each tries to deflect blame for a deadly pandemic. Trump, who has previously called the disease a “foreign virus,” tweeted on Tuesday: “The United States will be powerfully supporting those industries, like Airlines ...

DUBAI / WAM The Board of Directors of the Federal Tax Authority (FTA) has approved financial statements for 2019, and adopted a number of executive decisions on the FTA’s organisation, administration, and operations, during its 11th meeting, chaired by HH Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, Minister of Finance, and Chairman of the FTA’s Board of ...

AJMAN / WAM Government bodies in the Emirate of Ajman have announced the temporary closure of wedding venues, fitness clubs and massage centres as part of precautionary measures to mitigate the spread of coronavirus. Shopping malls in the emirate will also see the installation of thermal surveillance equipment to monitor the temperatures of mall visitors. The Ajman Department of Economic ...

AL AIN / WAM Strata Manufacturing, the advanced composite aerostructures manufacturing facility wholly-owned by the Mubadala Investment Company PJSC, deployed two of the latest generation MTorres Automated Tape Laying (ATL), machines to support its Airbus A350-900 manufacturing capabilities. The Al Ain-based manufacturer has gained First Part Qualification and First Article Inspection design and quality verifications for the use of the ...

DUBAI / WAM Dubai Financial Market (DFM) announced that it is temporarily closing its trading floor and customer affairs counters until further notice beginning March 16, as part of its commitment to public health, and in line with measures taken in the UAE to contain coronavirus (Covid-19). Hassan Al Serkal, Chief Operating Officer and Head of Operations Division at DFM, ...

Bloomberg China suffered an even deeper slump than analysts feared at the start of the year as the coronavirus shuttered factories, shops and restaurants across the nation, underscoring the fallout now facing the global economy as the virus spreads around the world. Industrial output plunged 13.5% in January and February from a year earlier, retail sales fell 20.5%, and fixed-asset ...