Cars for exports at the port of Bremerhaven in Germany. File/Agence France-Presse
German exports to China fell by 6.5 per cent on the year in January and the Federal Statistics Office said the drop could not yet be linked to the coronavirus, as the looming impact of the epidemic threatens to tip Europe’s largest economy into recession.
Strong German exports to the United States helped Europe’s largest economy to avoid a recession in the third quarter, a data showed on Friday, as companies benefitted from a weaker euro and trade diversion linked to the US-China tariff dispute.
Germany’s exports rose unexpectedly in October, with demand from beyond Europe offering a boost to the continent’s largest economy, which has teetered on the brink of recession in recent quarters.
The Board of the Central Bank of the UAE (CBUAE), has decided on additional measures within the Targeted Economic Support Scheme (TESS), launched initially in March 2020 to further enhance the capacity of the banking sector to support the economy.
The current developments and future prospects of the global oil markets were deliberated on Friday by the oil ministers of the UAE, Saudi Arabia, Kuwait, Bahrain, Oman and Iraq.
The Sharjah Chamber of Commerce & Industry (SCCI) has recently launched the “Sadder” (export) Fund, the first of kind fund across the Emirate Sharjah for financing export operations.