The coronavirus has caused chaos in Asia and beyond with flights suspended, businesses disrupted and entry restrictions imposed by governments trying to ward off its spread.
With more than half of humanity asked to stay at home and economic activity grinding to a virtual standstill in many places, the havoc wreaked by COVID-19 coronavirus continues unabated.
China’s exports and imports are expected to record double-digit declines after a tentative recovery in March as the coronavirus pandemic batters global demand and disrupts manufacturing supply chains, a Reuters poll showed on Wednesday.
World stocks edged up on Friday and oil prices rallied more than 2%, lifting sentiment after a week pressured by deteriorating US-China relations.
The COVID-19 global outbreak heavily dented India’s merchandise exports in April, as they plunged by over 60 per cent on a year-on-year basis to $10.36 billion from $26.07 billion reported for the corresponding period of the previous year.
Dr Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, on Sunday chaired the 59th meeting of the Gulf Cooperation Council (GCC) Commercial Cooperation Committee, under the framework of the UAE’s presidency of the current session of the GCC.
Exports of Dubai Chamber members exceeded a combined value of Dhs45 billion between June and August 2020, marking a 7.4 per cent increase compared to the March-May period during the same year.
India plans to offer $4.6 billion in incentives to companies setting up advanced battery manufacturing facilities as it seeks to promote the use of electric vehicles (EVs) and cut down its dependence on oil, according to a government proposal.