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Bloomberg Now Germany is deploying its financial firepower to fight the coronavirus crisis, convincing the country that it was wrong to shun budget deficits for many years just got even harder. The government of Europe’s biggest economy has long faced calls by officials from the International Monetary Fund (IMF) and the European Central Bank (ECB), to the US administration of ...

Bloomberg North Korea fired multiple missiles from its eastern coast on Tuesday, in a show of military might ahead of parliamentary elections in South Korea. The projectiles were fired on Tuesday from sites near Munchon and neighbouring Wonsan on the east coast, the South Korean Ministry of National Defense said in a statement. North Korea launched short-range cruise missiles from ...

Abu Dhabi / WAM UAE-based AgTech company, Madar Farms partnered with the Abu Dhabi Investment Office (ADIO) to support the operation of the world’s first commercial-scale indoor tomato farm using only LED lights and a new research facility to help in accelerating the AgTech industry in the UAE and the region. The investment is part of ADIO’s AED1 billion AgTech ...

DUBAI / WAM Emirates Post has opened its new international operations hub in Dubai International Airport (DXB) to provide global e-commerce, parcel and logistics brands a gateway to the UAE, KSA, and regional markets. In the wake of Covid-19 and the restrictions imposed on regional and international travel, the postal, parcel and logistics industries face a series of setbacks including ...

DUBAI / WAM DP World UAE Region announced on Monday that it has implemented a “rapid and resolute” action plan to secure the health and safety of its people and its services across all its business, logistics and supply chain assets to keep essential trade flowing in the midst of the global pandemic. The comprehensive and inclusive measures are being ...

ABU DHABI / WAM The governor of the central bank of the UAE (CBUAE), Abdulhamid Saeed, held his first meeting with CEOs of banks operating in the country to emphasise the systemic significance of extending support to private sector companies and individuals affected by Covid-19 as part of the Targeted Economic Support Scheme (TESS).The meeting comes as part of its ...

Bloomberg The contraction in China’s foreign trade is set to continue through the second quarter, as global demand remains depressed by measures to curb the ongoing coronavirus outbreak. Both exports and imports are forecast to have slumped 10% or more in March, with data due on Tuesday expected to show a continuation of the declines seen in the first two ...

Bloomberg China’s securities regulator punished two high-flying startups for misleading shareholders, barring them access to public markets for new funding. Shares of Ningbo Ronbay New Energy Technology Co and Zhejiang HangKe Technology Inc closed down at least 10% in Shanghai after the companies were told they wouldn’t be allowed to sell stocks or bonds publicly for a year. The punishment ...

Bloomberg The UK has paid out more than 1 billion pounds ($1.25 billion) to small businesses across the country to help them weather the coronavirus pandemic. Almost 100,000 firms have so far drawn on the cash from the government’s grants programs for small businesses, retailers and the hospitality sector, the Local Government Association said in an emailed statement on Monday. ...

Bloomberg Argentina will make an offer to its creditors “in the coming days” that will reflect the economic hit from the coronavirus pandemic, President Alberto Fernandez said in a newspaper interview. While debt talks are “going well,” calculations of debt sustainability will be affected by the impact of the virus, Fernandez was quoted as saying by Perfil. “The coronavirus affects ...