https://arab.news/bufja
- Oman called on business to take precautionary measures to tackle the Covid-19 crisis until mid-June
- The coronavirus pandemic hammered the world economy, cementing economists’ views of a deep global recession
DUBAI: Oman warned companies in the private sector to prepare for conditions to deteriorate economically and to take precautionary measures to tackle the Covid-19 crisis until mid-June.
The Oman Chamber of Commerce and Industry (OCCI) said in a statement that companies should take precautions when making decisions regarding their financial forecasts, calculating financial flows, Times of Oman reported.
“Oman Chamber of Commerce and Industry expresses its gratitude and appreciation to the private sector, individuals and institutions for their interaction, interest, national sense, and their rapid response by providing all support and assistance to face the current crisis that the country is going through,” an OCCI statement said.
Business activity collapsed from Australia, Japan and Western Europe to the United States at a record pace in March as measures to contain the coronavirus pandemic hammer the world economy, cementing economists’ views of a deep global recession.
The highly contagious coronavirus, which causes a respiratory illness called COVID-19, has caused entire regions to be placed on lockdown and in some places soldiers are patrolling the streets to keep consumers and workers indoors, halting services and production and breaking supply chains.