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Bloomberg Indonesia is reintroducing a raft of market measures deployed during the global financial crisis as authorities warn the impact of the novel coronavirus outbreak on the markets and the economy will be more damaging. The nation’s only stock exchange tightened trading-halt rules on March 10, with the first suspension kicking in with a 5% slump instead of 10% earlier. ...

Bloomberg Italian Prime Minister Giuseppe Conte’s government is ready to spend as much as 25 billion euros ($28.3 billion) on stimulus measures to shield the economy from Europe’s worst outbreak of the coronavirus. Finance Minister Roberto Gualtieri said the cabinet is likely to approve a first package worth about 12.5 billion euros by Friday. The rest will be a reserve ...

Bloomberg The UK economy failed to grow in January, adding to the case for the Bank of England’s emergency rate cut on Wednesday. The figures suggest the pickup seen after Boris Johnson’s election win proved short-lived, with momentum waning even before fears about the coronavirus took hold in February. Gross domestic product was unchanged from December, when it grew 0.3%, ...

Bloomberg A diplomatic spat has erupted between Germany and neighbours Switzerland and Austria over a decision last week by Chancellor Angela Merkel’s government to ban most exports of protective medical equipment. Switzerland has called in the German ambassador to complain about the decision to block a shipment of 240,000 face masks, while Austria’s economy minister demanded her German counterpart order ...

Bloomberg Both US President Donald Trump and China’s Xi Jinping have good reasons to deflect political blame for the coronavirus outbreak. And that has both of them zeroing in on the pathogen’s name. As the disease formally designated as Covid-19 expands across the US, Trump and other top Republicans have sought to highlight the outbreak’s foreign origin and even use ...

DUBAI / WAM Nine countries from around the world – Djibouti, Grenada, Malawi, Myanmar, Saint Kitts and Nevis, San Marino, Sri Lanka, Suriname and Zimbabwe – have unveiled their Expo 2020 Dubai pavilions, each designed by young and emerging talented students, and in line with the Expo’s wider aim to engage, involve and empower the next generation. Hind Al Boom, ...

DUBAI / WAM The Dubai Financial Market (DFM) announced that it has successfully implemented a remote working technical exercise that included various market operations’ technical activities, as part of its plan for business continuity in the event of facing any unforeseen circumstances. Hassan Al Serkal, Chief Operating Officer and Head of Operations Division of DFM, said, “In line with DFM’s ...

SHARJAH / WAM The Sharjah Chamber of Commerce and Industry (SCCI) received a delegation from Etihad Rail to enhance avenues of cooperation and introduce the business community in Sharjah to the strategic Etihad Rail project in view of its importance in supporting the national economy. The meeting also reviewed the possibility of holding an introductory seminar for government and private ...

DUBAI / WAM While health authorities across the world are asking travellers to postpone their travel plans unless necessary, it is important for those who travel to know the checks and measures in place as well as their responsibility, especially if they have recently travelled to places of widespread coronavirus transmission. The UAE Ministry of Health and Prevention asked all ...

Bloomberg Chinese President Xi Jinping visited the coronavirus epicentre of Wuhan for the first time since the disease emerged, a trip intended to project confidence that his government has managed to stem its spread domestically. Xi arrived on Tuesday morning in the capital of Hubei province, the official Xinhua News Agency said. He visited Huoshenshan Hospital, one of the two ...