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Bloomberg US states saw their tax revenue drop by about $31 billion, or 6%, from March through August, compared to the same period a year earlier, as the pandemic triggered economic shutdowns across the country, according to a data from 44 states compiled by the Urban Institute. The scale of the drop appears smaller than expected, relative to the depth ...

Bloomberg Germany’s economy is losing steam but will do slightly better than government forecasts as fears grow over rising coronavirus infections, according to the country’ s five leading research institutes. Gross domestic product will contract by 5.4% in 2020 and grow 4.7% next year, the experts predicted in their latest bi-annual outlook published on Wednesday. In their spring report, they ...

Bloomberg Wealthy buyers of mansions and penthouse apartments in London are finding that the pandemic isn’t throwing bargains their way. Luxury homes that changed hands for more than $13 million in the second quarter sold at an average 95% of their asking prices, according to latest data from broker Knight Frank. That was the smallest discount since the end of ...

Bloomberg Brazil’s consumer inflation recorded its fastest pace for the month of September since 2003 as food and fuel prices rise, supporting the case for the central bank to keep its key rate unchanged later this month. The benchmark IPCA index rises 0.64% from August, above the 0.54% median estimate in a Bloomberg survey of economists. Annual inflation accelerated to ...

ABU DHABI / WAM The Mohamed bin Zayed Species Conservation Fund (MBZ Fund) on Tuesday announced it will expand its grant-making criteria to help partners meet core emergency operating needs precipitated by the Covid-19 crisis. The move aims to ensure the survival of small, grassroots conservation organisations whose finances have been impacted by the pandemic. To help organisations avoid layoffs, ...

Abu Dhabi / WAM The Director-General of the National Emergency Crisis and Disasters Management Authority (NCEMA) Obaid Rashid Al Shamsi, has said that the UAE is a pioneering global model in the way it responded to the pandemic, thanks to the government’s foresight and proactive approach in managing the crisis. In a speech on the occasion of International Day for ...

SHARJAH / WAM The Commercial Officers at Sharjah Economic Development Department (SEDD) carried out 35,971 inspections on establishments since the beginning of coronavirus pandemic until September, to ensure they are adhering to precautionary measures. These campaigns were held periodically to ensure the safety of all establishments and practices across the Emirate of Sharjah. Likely, SEDD intensified its role during the ...

Abu Dhabi / WAM Khalifa University of Science and Technology today announced a team of researchers has successfully developed the first working prototypes of NavaMASK, a fully ‘biodegradable’, ‘biocompatible’, environment-friendly and novel anti-viral adaptive face mask with nanofibers that will have strong anti-microbial properties. The researchers have already filed for a patent license for the mask’s bio-material. NavaMASK will offer ...

Bloomberg Anwar Ibrahim’s latest push to finally take power in Malaysia appears to be stalled. The long-time opposition leader claimed on Tuesday that he showed the king evidence of a “convincing majority” of more than 120 lawmakers in the 222-member in parliament. He called on PM Muhyiddin Yassin to resign and said the monarch would now determine whether the opposition ...

Bloomberg Investor confidence in the outlook for Germany’s economy plunged, in a sign of concern that resurgent infections could hurt the recovery. A gauge by the ZEW dropped to 56.1 in October — the lowest in five months — from 77.4 in September, below even the most pessimistic estimate in a Bloomberg survey. The measure for the euro area also ...