Business

06 April 2020; MEMO: A former presidential candidate in Egypt has called on President Abdel Fattah Al-Sisi to release detainees and prisoners of conscience and form a committee of experts to implement measures to protect citizens and the economy during the coronavirus crisis.

Singapore, Apr 6 (AFP/PTI) Oil prices fell sharply Monday after a meeting to discuss output cuts between OPEC and its allies was delayed, dimming hopes of swift action to support coronavirus-ravaged energy markets.

US benchmark West Texas Intermediate plunged eight per cent at the open in Asia but clawed back some ground and was trading 5.7 percent lower, at USD 26.72 a barrel.

International benchmark Brent crude was down 4.3 per cent to trade at USD 32.64 per barrel.

Hong Kong, Apr 6 (AFP/PTI) After a coronavirus-fuelled wave of panic-buying briefly left Hong Kong's supermarket shelves bare, residents are turning to local producers for fresh food in a city almost entirely reliant on imports.

COVID-19 has threatened global supply chains as countries impose lockdowns and border restrictions, but for Hong Kong's dwindling farming community, the pandemic has sparked a sudden boom in business.

BEIJING, Apr 6 (NNN-XINHUA) – China actively joined hands with the rest of the world to stem the COVID-19 disease, with the exports of medical supplies registering 10.2 billion yuan (about 1.43 billion U.S. dollars).

The items of medical supplies include 3.86 billion face masks, 37.52 million protective suits, 2.41 million infrared thermometers, as well as, ventilators, testing kits and goggles, Jin Hai, an official with the General Administration of Customs, told a news briefing, Sunday.

05 April 2020; MEMO: OPEC and Russia have postponed a Monday meeting to discuss oil output cuts until April 9, OPEC sources said on Saturday, as a dispute between Moscow and Saudi Arabia over who is to blame for plunging crude prices intensified, reports Reuters.

New Delhi, Apr 5 (PTI) The government has tightened the export ban norms on anti-malarial drug hydroxycloroquine by including special economic zones (SEZs) under its prohibition ambit to ensure there is no shortfall during Covid-19 crisis.

The drug is also not allowed to be shipped by export oriented units (EOUs) or under any export promotion scheme.

New Delhi, Apr 5 (PTI) The Indian macroeconomic situation is bleak and all set to get worse if local or national lockdowns continue for some more time, renowned economist Jean Dreze said on Sunday.

Dreze further said that due to the country-wide lockdown, social unrest in many parts of India has already started.

The country is under a 21-day lockdown as part of larger efforts to curb spreading of coronavirus infections.

London, Apr 5 (AFP/PTI) The coronavirus pandemic is increasing poverty in Britain, where levels are already high after a decade of austerity triggered by the global financial crisis, according to experts.

Official data shows that more than 14 million people in the UK are classed as living in poverty, or nearly one-quarter of the population.

New Delhi, Apr 5 (PTI) India has submitted its bid documents for hosting the AFC Asian Cup in 2027, a top official of the national federation confirmed on Sunday.

If India wins the bid, it will be the first time the country will host the continental showpiece event.

"We have already submitted our expression of interest to the AFC (Asian Football Confederation). That is what's required as of now," All India Football Federation General Secretary Kushal Das told PTI.

MANAMA, Apr 5 (NNN-BNA) – The Ministry of Industry, Commerce and Tourism, closes a pharmacy for hiking the prices of sanitisers, profiting from the exceptional conditions, resulting from the COVID-19.

The pharmacy, which is located in the area of Riffa, was found in breach of Law 35 of 2019, on consumer protection, said the ministry.