Local agents of international tech giants like Facebook, Google, IMO, and Youtube will need separate VAT registration numbers for each of the companies.…

Stock markets in the energy-rich Gulf states tumbled yesterday as oil prices extended losses amid unprecedented measures against the coronavirus, as Bahrain became the first Arab Gulf country to record a death from the disease. Oil prices, the main source of Gulf revenues, skidded to their worst level…

China's industrial production has contracted for the first time in three decades as the coronavirus epidemic wreaked havoc on the economy, official…

Asian markets tumbled yesterday as interest rate cuts and fresh stimulus measures by central banks failed to lift confidence, with analysts warning that the Federal Reserve may have reached the limits of its power to fend off recession as the coronavirus spreads. The Fed move added to efforts by central…

Major airlines are scaling back flights dramatically in response to the coronavirus crisis that has seen Europe and the wider world go into lockdown. Budget airline EasyJet said it is making big cancellations that will continue on a rolling basis. It said that could result in the grounding of the majority…

The Russian government said yesterday it would unlock $4 billion to help the economy with the coronavirus pandemic and urged businesses to help slow the spread of the virus. Reserves of 300 billion rubles ($4 billion) “can be used by the government within the framework of this year’s budget…

Fiat Chrysler Automobiles is suspending production across most of its European plants through March 27 as businesses large and small take a hit from nationwide lockdowns to contain the virus outbreak. The Italian-American carmaker said yesterday it is closing six plants in Italy that make cars under…