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Bloomberg New Zealand’s government is preparing additional fiscal measures to limit a surge in unemployment as it battles the coronavirus, Finance Minister Grant Robertson said. “Work on further significant government investment to protect jobs, support cashflow, and prepare the economy for recovery is well advanced,” Robertson said in Wellington. Scenarios released by the Treasury department show that unemployment “can be ...

Bloomberg Republicans are ratcheting up efforts to paint China as the villain in the coronavirus pandemic, seeking to shift blame as President Donald Trump faces increased criticism of his handling of a crisis that has shuttered the US economy. The Trump campaign sent out a fundraising email that accused China of “lying” about the outbreak and saying the country must ...

DUBAI / WAM DMCC, the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise, is accelerating its digital outreach to support its member companies and attract new business to Dubai. For the first time, DMCC successfully hosted its flagship ‘Made for Trade Live’ international roadshow event virtually with business leaders in Johannesburg, South Africa, seeking ...

ABU DHABI / WAM The UAE stock markets have maintained their competitive edge in the Gulf and Middle East region over the past period, as their average Price Earnings Ratio (P/E Ratio) stood at 12.43 times over the past 12 months, according to recent statistics released by the Abu Dhabi Securities Exchange and Dubai Financial Market. The most popular metric ...

Dubai / WAM The Business Registration and Licencing (BRL) sector at Dubai Economy achieved record results in implementing remote working and activating smart and electronic channels, as the total number of commercial registration and licencing transactions from March 22 to April 13 this year reached 14,366. Of these, 66 percent were electronic transactions and 34 percent were through the outsource ...

ABU DHABI / WAM The United Arab Emirates, in collaboration with the World Health Organisation (WHO), has dispatched an aid plane carrying approximately 27 metric tonnes of medical supplies to Somalia. The aid, which consisted of seven metric tonnes from the UAE and 20 metric tonnes from the World Health Organisation, will help approximately 27,000 healthcare workers in combating the ...

Bloomberg Southeast Asian nations plan to discuss forming a joint fund to combat the coronavirus pandemic with China, Japan and South Korea during a virtual summit on Tuesday, according to a Thai official. The 13-nation special summit initiated by the Association of Southeast Asian Nations comes as the region struggles to contain the Covid-19 outbreak even after it spread to ...

Bloomberg China has started the process of potentially merging its two biggest brokerage firms to create a company that can better compete with the global investment banks as the country opens up its financial markets, according to people familiar with the matter. Citic Securities Co and CSC Financial Co, along with their government shareholders Citic Group and Central Huijin Investment ...

Bloomberg Russia’s deepening economic crisis is on the verge of spilling into some of the most remittance-dependent economies in the world. Migrant workers from the former-Soviet Union send $13 billion home each year from Russia, where they are allowed to work visa-free. But now that money is starting to dry up due to lockdowns in Moscow and St. Petersburg that ...

Bloomberg The US federal budget deficit is on track to exceed $3.8 trillion this year even if Congress doesn’t enact any more stimulus spending, and the nation’s debt will rise to levels not seen since the country emerged from World War II, a non-partisan budget watchdog estimated. The projection by the Committee for a Responsible Federal Budget would put the ...