Business

KUALA LUMPUR, May 1 (NNN-BERNAMA) — Prasarana Malaysia Berhad (Prasarana), the operator of the Rapid Rail, stage bus and the Rapid Ferry services, will revert to the normal operating hours of 6 am to midnight when the Conditional Movement Control Order (CMCO) takes effect on Monday.

This followed Prime Minister Tan Sri Muhyiddin Yassin’s announcement today of the government’s intention to reopen the nation’s economic sector in stages from May 4, subject to tight conditions and procedures.

WASHINGTON, May 2 (NNN-AGENCIES) — The IMF renewed a nearly $11 billion credit line for Colombia as a backstop amid the growing economic impact of the coronavirus pandemic.

Colombia has had a Flexible Credit Line (FCL) since May 2009, and the IMF board has renewed it every two years, providing the country with money that could be deployed to head off a crisis.

But Bogota has never drawn on the funds, treating it as a precaution.

ABU DHABI, May 2 (NNN-WAM) – Yas Mall, on Yas Island, and Al Jimi Mall, in Al Ain, will be the first in the emirate to reopen – but with measures in place, to protect shoppers from the spread of Covid-19.

Opening hours during Ramadan will be 12.00 pm to 9.00 pm, to avoid overlapping with disinfection hours that last from 10.00 pm to 6.00 am. Supermarkets and pharmacies – which can be visited in cases of absolute necessity during the disinfection period – will open from 9.00 am to midnight.

BAGHDAD, May 2 (NNN-NINA) – Iraq said, it exported more than 103 million barrels of crude oil in Apr, bringing in revenues of more than 1.42 billion U.S. dollars.

Iraq’s total exports of crude oil during the month exceeded 103.14 million barrels, with an average of 3.43 million barrels per day, Iraqi Oil Ministry said, citing statistics of the State Organisation for Marketing of Oil.

The average selling price for crude oil in Apr was 13.8 dollars per barrel, the statement said.

The Lebanese government yesterday approved an economic rescue plan prepared by Prime Minister Hassan Diab in a bid to save the country from the worst economic crisis in its history.

The Lebanese presidency said on Twitter that the cabinet has unanimously approved the economic plan, after making minor amendments to the proposal.

Diab said it will be used to apply for loans from the International Monetary Fund (IMF) that could save the deteriorating economy.

1 May 2020; MEMO: The Egyptian government is considering a bill aimed at raising the rates of electricity and water in the new fiscal year which starts in July, Al-Araby Al-Jadeed reported citing government and parliamentary sources.

The bill was drafted by the Ministry of Electricity and the Ministry of Housing, Utilities and Urban Communities, and it is pending approval by the Cabinet Council, the news website added.

Washington, Apr 30 (AP) McDonald's says it has likely reached the trough of global restaurant closures due to COVID-19, with 25 per cent still shuttered. But business has been slow to return as lockdown orders continue to disrupt consumers' routines.

McDonald's said Thursday its sales fell 6 per cent to USD 4.71 billion in the January-March period. Declines have persisted in April.

New Delhi, May 1 (PTI) The country's largest carmaker Maruti Suzuki India (MSI) on Friday said it did not sell a single unit in the domestic market last month due to coronavirus-led nationwide lockdown.

The company had zero sales in the domestic market in April 2020, MSI said in a statement.

New York, May 1 (AP) May is bringing cautious reopenings from coronavirus lockdowns, from Beijing's Forbidden city to shopping malls in Texas, as the grim economic toll from the pandemic ticks higher.

Many communities around the world are inching toward normalcy without certainty over whether they've vanquished outbreaks of the virus. But bleak new figures released Thursday underscored the pain inflicted by the disease and added to pressure on leaders to end shutdowns.

KUALA LUMPUR, May 1 (NNN-BERNAMA) — Almost all economic sectors and business activities in Malaysia will be allowed to resume operations starting May 4, subject to the terms and the Standard Operating Procedures (SOP) set by the authorities, said Prime Minister Tan Sri Muhyiddin Yassin.

He said the Economic Action Council, the National Security Council and the Cabinet had discussed on ways to balance between the need to revive the country’s economy and curbing the COVID-19 pandemic.