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Bloomberg Mexico’s economic contraction may be deeper than expected, according to Scotiabank. The bank now estimates Mexico’s gross domestic product (GDP) to drop 8.4% in 2020, more than the 5.77% contraction it predicted on March 20, due to the increasingly adverse economic indicators, Economia Hoy newspaper reported. The forecast was adjusted due to the lack of an effective policy response ...

Bloomberg President Donald Trump raised the prospect that China deliberately caused the Covid-19 outbreak that’s killed over 39,000 Americans and said there should be consequences if the country is found to be “knowingly responsible.” Dr Deborah Birx, a member of the White House coronavirus task force, said on Sunday that the first country exposed to a pandemic has a “moral ...

Abu Dhabi / WAM Around 122,550 tonnes of vegetables crops were produced in both open field and greenhouse farms on 18,711 donums in Abu Dhabi during the farming season 2018/2019, according to Abu Dhabi Agriculture and Food Safety Authority (ADAFSA). A total of 74,885 tonnes of vegetable crops were produced in Al Ain, accounting for about 61.1 percent of the ...

ABU DHABI / WAM In line with the directives of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Chairman of the Abu Dhabi Executive Council, to take further measures to prioritise SMEs, the Abu Dhabi Government expanded the SME Credit Guarantee Scheme, increasing SME’s access ...

SHARJAH / WAM The Sharjah Economic Development Department (SEDD) launched a package of developed digital services that are available through its website and smart application around the clock to facilitate customers and support businesses in light of the exceptional circumstances in the country and the world. The department launched 20 digital services developed without ID (without the need for a ...

ABU DHABI / Emirates Business The Ministry of State for Federal National Council Affairs (MFNCA) has passed the audit process for renewing three International Standardisation Organisation (ISO) Certificates for Integrated Management Systems this week. The audit was conducted remotely using videoconferencing techniques and remote auditing, in line with the precautionary measures enacted in the UAE to ensure public health. The ...

Bloomberg The coronavirus pushed China’s economy into its first contraction in decades in the first quarter, with the spread of the disease around the world now leaving the nation reliant on fragile local demand to spur a recovery. Gross domestic product shrank 6.8% from a year ago, the worst performance since at least 1992 when official releases of quarterly GDP ...

Bloomberg Coronavirus cases in Singapore soared past the 5,000 mark as authorities detected more infections among foreign workers. Authorities said an additional 623 cases were confirmed on April 17 , bringing the total to 5,050 in the country, according to the health ministry’s statement. The majority of the cases are tied to facilities that house low-wage migrant workers in close ...

Bloomberg President Donald Trump announced a $19 billion bailout package for farmers hurt financially by the coronavirus crisis. The aid plan includes $16 billion in direct payments to farmers to boost their incomes, along with $3 billion in government purchases of meat, dairy products and other foods, the president said at a White House briefing. The Agriculture Department will receive ...

Bloomberg Boris Johnson’s government is seeking to expedite production of a vaccine and drugs to treat Covid-19, both of which are seen as crucial to end nationwide restrictions on citizens’ movement that have brought the UK economy to a near-halt. AstraZeneca Plc and the Wellcome Trust will form part of a new task force to coordinate efforts across academia and ...