A worker, wearing a protective suit, reacts in front of an infrared temperature machine in the lobby of the Shanghai Stock Exchange on Friday. Associated Press
Stock markets and oil prices collapsed on Friday as investors panicked over the devastating damage of the coronvavirus to global economic growth, dealers said.
The world’s largest economies delivered more worrisome cues on Monday as anxiety over the virus outbreak sent stock and oil prices plunging and closed sites from the Sistine Chapel to Mideast schools.
Most stock markets sink on Monday with investors worried over the impact of China’s coronavirus outbreak on the global economy. In afternoon European trades, London and Paris were both down 0.4 per cent, while Frankfurt slid 0.3 per cent.
European stocks fell on Friday, halting their biggest ever three-day rally in a sign investors were focusing once more on the spread of the coronavirus pandemic despite hopes for further stimulus measures to combat its economic impact.
Under the directives of Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Dubai has launched its third stimulus package to ease the impact of the COVID-19 crisis on businesses.
The United Arab Emirates has been ranked first in the GCC, Arab region, and Western Asia, and 8th globally in the Online Service Index (OSI), issued by the United Nations within the E-Government Development Index (EGDI).
The Ministry of Economy of the United Arab Emirates and the China Council for the Promotion of International Trade (CCPIT), will together host the first China-UAE Economic and Trade Digital Expo,