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Bloomberg German Chancellor Angela Merkel called for a Europe-wide economic stimulus program to be financed by the European Union’s budget, making a national appeal that helping its partners would be good for Germany. “A European growth program could support an upswing over the next two years and we’ll work for that,” Merkel said in a speech to the lower house ...

Bloomberg The coronavirus pandemic is putting untold pressure on the supply chains that produce and transport the world’s food. Yet there’s one vital factor even harder to control than panic buying — the weather. A period of extreme weather that devastates harvests could force countries to deploy more protectionist food policies, creating a ripple effect through global trade. Concerns over ...

Bloomberg Whatever the state of Kim Jong-un’s health, he has already put North Korea in its strongest position to resist US pressure in decades. Eight years after Kim filled the power vacuum left by the death of his reclusive father, Kim Jong Il, North Korea is more secure and less isolated. The 36-year-old supreme leader has achieved two key marks ...

DUBAI / WAM DP World has launched cutting-edge online logistics tools and services, covering sea, land and air shipping around the world. According to a press statement, the connected ecosystem of platforms will enable freight forwarders and any business, to book shipments of cargo from and to anywhere in the world, by any combination of sea, land and air. The ...

ABU DHABI / WAM The Federal Tax Authority (FTA) has issued a directive, on an exceptional basis, extending to 28 May the deadline of submitting VAT returns and the payment of due tax for the tax period ended March 31, enabling taxable persons to meet their tax obligations without facing any difficulties. “This comes in light of the Federal Tax ...

ABU DHABI / WAM Etisalat Group on Wednesday announced its consolidated financial statements for the three months ending March 31, while also approving an interim dividend payout of 25 fils per share. In a statement the telecommunications group noted that its consolidated revenues amounted to AED13.1 billion representing a year over year increase of one percent while consolidated net profit ...

Sharjah / WAM Sharjah Asset Management (SAM) and Sharjah Cooperative Society have announced that they will create a digital platform and a smart application to help facilitate shopping operations and make delivery of items easier for the customers of Sharjah Cooperative Society. This came as part of a Memorandum of Understanding (MoU) signed electronically by Waleed Al Sayegh, CEO of ...

Bloomberg Facebook Inc will invest $5.7 billion in the digital assets controlled by India’s richest man, the US social-networking giant’s biggest deal since the 2014 purchase of WhatsApp as it seeks a broader foothold in its biggest global market. The US company will buy about 10% of Jio Platforms, becoming the largest minority shareholder, Reliance Industries Ltd said in a ...

Bloomberg Indonesia banned an annual ritual of citizens travelling in large numbers to their hometowns and villages ahead of the Muslim festival of Eid al-Fitr to prevent the spread of coronavirus in the world’s largest Muslim-majority country. President Joko Widodo, who announced the ban at a cabinet meeting in Jakarta, said the prohibition was based on an assessment that about ...

Bloomberg European Union (EU) leaders head to a key virtual summit on Thursday without any concrete proposals from the bloc’s institutions on how to finance a controversial economic recovery fund, raising the chances of yet another inconclusive showdown. A “roadmap” distributed to national delegations from EU Council President Charles Michel, who will chair the video conference, contains no details on ...