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Bloomberg People’s Bank of China (PBOC) Governor Yi Gang said the central bank will focus on five measures to support credit provision to the real economy, following the government’s announcement of more “direct” support in its annual policy blueprint released last week. In the near future officials plan to roll out more measures to enable small firms to delay repayment ...

Bloomberg Incoming Bank of Canada Governor Tiff Macklem will face a combination of rising prices and stagnant growth as the economy struggles to recover from coronavirus (Covid-19) pandemic. That’s the forecast from Canadian economist David Rosenberg, who sees prices increasing as consumers feel comfortable shopping again and production costs rising even as the economy underperforms — an unusual combination known ...

Bloomberg UBS Group AG is setting aside hundreds of millions of dollars of its own money to invest in fintech companies, joining peers in financing startups that are upending traditional banking. The Swiss wealth manager is planning a corporate venture capital fund to make investments between $10 million and $20 million in dozens of companies, according to a person familiar ...

Bloomberg One of the Bank of England’s (BOE) key policy makers played down the possibility of an imminent cut in interest rates below zero, saying that “reviewing and doing are different things.” Andy Haldane, BOE’s chief economist who more than a week ago said officials were assessing negative rates, added that policy makers weren’t ruling any options out “as a matter ...

Bloomberg Oil traded near $33 a barrel as an escalating war of words between the US and China added to caution over the prospects for a global recovery in demand. China has warned that some in the US were pushing the countries towards a new Cold War, stoking concerns that deteriorating relations between Beijing and Washington could complicate the market’s ...

Bloomberg The Japanese government ended its nationwide state of emergency on Monday as cases tail off and announced a decision on funding for a new aid package to help a virus-battered economy. Prime Minister Shinzo Abe told a news conference on Monday that reviving the economy was now the top priority, and his government will decide on a second extra ...

ABU DHABI / WAM The UAE on Monday sent an aid plane carrying five metric tons of medical supplies to the Democratic Republic of Congo. The aid will assist approximately 5,000 medical professionals as they work to combat the coronavirus (Covid-19) pandemic. Commenting on the aid delivery, Hazza Mohammed Al Qahtani, UAE Ambassador to Rwanda, remarked, “The provision of aid ...

Bloomberg Germany will offer Deutsche Lufthansa AG a 9 billion-euro ($9.8 billion) bailout that thrusts the state back into the heart of a company privatized with fanfare two decades ago. The aid package involves taking an initial 20% stake that could rise to 25% plus one share in the event of a hostile takeover, according to a statement on Monday. ...

ABU DHABI / WAM The Zakat Fund has offered aid valued at AED86.3 million to 5,109 eligible families since the start of 2020. The number of new cases reached 2,764 families affected by the coronavirus crisis, with 93.3 percent being eligible for Zakat. Abdullah bin Aqeedah Al Muhairi, Secretary-General of the Zakat Fund, said that the fund receives Zakat requests ...

SHARJAH / WAM Under the patronage of His Highness Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, Engineer Salah Bin Butti Al Muhairi, Adviser to the Sharjah Department of Town Planning and Survey, inaugurated the Khorfakkan Monument, designed to be a traditional Arabian Incense Burner Statue, to be a symbol of “Mabkhara” and built ...