WEEKLY WRAP: GIPC reviews FDI target, Australia’s privacy regulator sues Facebook and more

WEEKLY WRAP: GIPC reviews FDI target, Australia’s privacy regulator sues Facebook and more

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Oil prices fall as coronavirus ‘forces’ Saudi Arabia to start a price war:

Oil prices have experienced a slump after Saudi Arabia started a price war in the market, following the global effects of the coronavirus on the commodity.

The latest development, the first in 29 years, led to a loss of more than a quarter in the prices.

YEN.com.gh understands that Saudi Arabia, the world’s biggest oil producer, reduced its official selling prices and has plans of boosting production of crude in April 2020.

READ ALSO: Ghana fortifies border with Togo to help with early detection of coronavirus

Australia’s privacy regulator sues Facebook; says data of users have been breached:

Social media company, Facebook Inc, has been sued by Australia’s privacy regulator for possible breach of data of users.

According to the regulator, Facebook shared personal details of users with Cambridge Analytica, a political consultant, without their knowledge and permission.

The Australian Information Commissioner went on to say that Facebook breached privacy laws by revealing details of 311,127 users.

Coronavirus meeting that happens every 3 years postponed because of coronavirus:

The International Nidovirus Symposium, also known as Nido2020, which was intended to be the 2020 edition of a scientific meeting held every three years to share knowledge on the coronavirus, has been postponed.

The meeting, which was planned to take place from May 10 to 14, 2020, in the Netherlands, was officially postponed to 2021.

Qz.com reports that the decision was announced on March 9, 2020, after the organizers noticed a hesitation in registration.

GIPC announces possible review of FDI of $10 billion as coronavirus disrupts business activities:

The Ghana Investment Promotion Centre (GIPC) has announced a possible downward review of its annual Foreign Direct Investment (FDI) target of $10 billion.

The decision was reached following the disruption of business and investment activities as a result of the coronavirus.

The coronavirus has reportedly led to a loss of global stocks to the tune of over $3 trillion just before the end of 2020’s first quarter.

This has led to a fall in capital inflows and transactions and countries all over the world are enforcing social distance.

OVER THE WEEKEND:

Apple sets restrictions for COVID-19-related apps:

Apple today put in place more COVID-19-related safeguards; this time centered on its App Store.

In a note posted to its developer community, the company explains that it will take steps to vet submissions of apps focused on the global pandemic that has begun to impact nearly every aspect of life across the globe.

In addition to assessing content and restricting the number of developers who can submit, the company is also barring the release of entertainment apps and games looking to capitalizing on the ubiquitous and life-threatening subject matter.

UK is advising against all travel to the US amid the coronavirus pandemic:

The U.K. government is advising citizens and residents against all travel to the U.S. in response to the coronavirus pandemic.

In a brief statement, the U.K. Foreign Office said it is “advising against all but essential travel to the USA,” a day after the U.S. government expanded its list of countries whose nationals are effectively banned from entering the U.S. to include the United Kingdom and Ireland.

Alphabet’s Verily is building COVID-19 triaging tool as Trump declares national emergency:

Alphabet’s Verily is building a triaging tool to help people find COVID-19 testing sites in the U.S.

The company says this tool will target the San Francisco Bay Area, though Verily hopes to expand coverage to more regions in the future.

The move is part of a public-private partnership to dispense COVID-19 testing to “millions of Americans” in the weeks ahead at places like Target, Walgreens, CVS, and Walmart parking lots, according to U.S. Vice President Mike Pence.

Testing to confirm COVID-19 cases has been a critical part of response plans in other countries around the world.

READ ALSO: Hopes for a possible cure of coronavirus leads to a boom in world markets

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