Business

WUHAN, Apr 8 (NNN-XINHUA) – With long lines of cars streaming through expressway toll gates and passengers boarding trains, the megacity of Wuhan in central China started lifting outbound travel restrictions from today (Wednesday), after almost 11 weeks of lock-down to stem the spread of COVID-19.

At Fuhe toll gate in northern Wuhan, cars honked horns and rushed out, after barricades were removed at midnight.

Guo Lei, who ran a business in Wuhan, drove his car with six others, to the toll gate at around 8:40 p.m. and waited for a home-bound trip.

Kanpur: Residents observing social distancing and lockdown in toto are condemning the vegetable vendors for avoiding the sale of green vegetables in the city's outer Jajmau area. Though its tract is adjoining the Cantt side, it is also spread over Lucknow-Allahabad route along the Ganges.

07 April 2020; MEMO: Investment bonds issued by Saudi Arabia’s state-owned oil company, Aramco, recorded an 8.2 per cent fall in value last month, the worst monthly performance ever after crude oil prices also fell by more than 50 per cent since the beginning of this year, Bloomberg has reported.

The news agency said that the oil price war between Saudi Arabia and Russia has not served Aramco’s bondholders well.

07 April 2020; MEMO: Iranian Foreign Ministry spokesman Abbas Mousavi today called on the world’s nations not to abide by the sanctions imposed on his country by the United States.

ROME, April 7 (NNN-AGENCIES) — Italy unveiled a record 400 billion euro stimulus to help businesses hurt by a month-long national lockdown that is like to run on for many more weeks.

Prime Minister Giuseppe Conte told the nation to be patient in the face of a pandemic that has now officially claimed 16,523 lives in the Mediterranean country and left millions at least temporarily unemployed.

“We will soon see a new spring for Italy but for the moment we must stay at home,” the Italian leader said in a television address.

MOSCOW, Apr 7 (NNN-TASS) – Russia and Saudi Arabia are “very close” to a deal on oil production cuts, Kirill Dmitriev, CEO of Russian Direct Investment Fund, a sovereign wealth fund managing 10 billion U.S. dollars, said, Monday.

“I think the whole market understands that, this deal is important and it will bring lots of stability, so much important stability to the market, and we are very close,” Dmitriev said, in an online interview with CNBC.

06 April 2020; MEMO: Egypt’s health minister arrived in Italy on Saturday to deliver medical aid amid the coronavirus global pandemic.

Italy has recorded 128,948 infections so far with 15,887 deaths making it Europe’s worst-hit country.

Critics have spoken out against the move, the second in the course of several weeks, given Egypt’s own shortage of supplies in its battle against the disease.

06 April 2020; MEMO: The Palestinian Authority (PA) is banning the import of all types of Israeli products in its effort to prevent the spread of the coronavirus.

06 April 2020; MEMO: The Bureau International des Expositions (BIE) has announced that the UAE has made an official request to postpone the Expo 2020 Dubai scheduled to take place in October due to the coronavirus outbreak. A twelve-month postponement has been requested.

06 April 2020; MEMO: The UAE has waived rental and maintenance fees worth millions of dollars for the use of its giant London Excel centre which has been converted into a 4,000-bed emergency hospital amidst the coronavirus outbreak.

As much as $3.68 million a month was initially demanded for the use of the centre owned by Abu Dhabi National Exhibition Co. (adnec). The state-owned company, however, has done a U-turn and is now offering the mass site for free to the NHS.