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by Michael Mathes WASHINGTON, United States (AFP) — US lawmakers worked deep into Tuesday night trying to seal a deal that buttresses the teetering economy by giving roughly $2 trillion to hospitals, businesses and ordinary Americans buckling under the strain of the coronavirus pandemic. But a full day of intense, protracted negotiating was unable to produce a viable outcome, even as the two sides — plus the White House — kept haggling and the US […]
RIYADH, Saudi Arabia (AFP) — Saudi Arabia’s King Salman will chair an emergency virtual summit of leaders from the Group of 20 major economies on Thursday to discuss a global response to the coronavirus pandemic. World leaders, including Russian President Vladimir Putin, will take part in the talks which the Kremlin said will take place by videoconference. “King Salman will chair the meeting to advance a coordinated global response to the COVID-19 pandemic and its […]
MANILA, Philippines (AFP) — The Philippines suspended trade on its local stock exchange Tuesday, becoming the first country to close its financial market over coronavirus fears. President Rodrigo Duterte on Monday ordered most of the 55 million people on the main island of Luzon, which includes the capital Manila, to stay at home for the next month after social distancing measures failed to keep people away from one another. Philippine Stock Exchange President Ramon Monzon […]
BRUSSELS, Belgium (AFP) — Eurogroup chief Mario Centeno warned on Monday that under the coronavirus outbreak the European economy is experiencing the equivalent of war and that a long struggle lies ahead. “We know the virus hasn’t reached its peak. We must not kid ourselves,” Mario Centeno said ahead of a eurozone finance ministers video conference. “These are the first steps in a temporary, but long fight. Forced containment is bringing our economies to war-like […]
by Richard CARTER / Miwa SUZUKI TOKYO, Japan (AFP) — The Bank of Japan on Monday unveiled a series of emergency monetary policy measures to shore up the world’s third-largest economy, as the coronavirus pandemic threatens a global recession. In a meeting brought forward by two days, the BoJ said it would double its annual capacity to purchase exchange-traded funds and Japan real estate investment funds, the latest global central bank to take emergency action. […]
WASHINGTON, United States (AFP) — Food has been quickly disappearing from US supermarket shelves in signs of panic-buying but President Donald Trump and other government and industry officials assured on Sunday that the supply chain is intact and there’s plenty of food. “You don’t have to buy so much… Relax,” Trump said at a press conference of his new-coronavirus task force, after speaking with CEOs of major US supermarkets and food companies such as Walmart […]
SYDNEY, Australia (AFP) — Australia on Thursday unveiled a massive US$11 billion spending plan designed to curb the economic impact of the coronavirus pandemic and avert the country’s first recession in 29 years. Prime Minister Scott Morrison announced the nearly Aus$18 billion package — equivalent to just under one percent of GDP — which will primarily be targeted at businesses. “This plan is about keeping Australians in jobs. This plan is about keeping a business […]
WASHINGTON, United States (AFP) — US President Donald Trump on Wednesday announced measures meant to shore up the economy reeling from the coronavirus outbreak, while simultaneously downplaying the situation. He also announced a travel ban for Europe for 30 days, which he indicated would include halting trade. While he touted the strong US economy, Trump urged Congress “to provide Americans with immediate payroll tax relief” to help counteract the impact of the epidemic that has […]
LONDON, United Kingdom (AFP) — Britain unveiled Wednesday a package of stimulus measures worth £30 billion ($39 billion, 34.4 billion euros) to fight the growing threat from the coronavirus epidemic to the economy. “I am announcing today in total a £30-billion fiscal stimulus to support British people, British jobs and British businesses through this moment. And of course, if further action is needed if the situation evolves… I will not hesitate to act,” finance minister […]
BEIJING, China (AFP) — Some companies in Wuhan, the Chinese city where the new coronavirus outbreak emerged late last year, are to be allowed to return to work, provincial officials said Wednesday. Businesses involved in providing daily necessities can resume work and production immediately, as can those that are key to “global industrial chains” after getting approval, said the Hubei provincial government. Other companies are expected to resume production only after March 20. Similar rules […]
by Dmitry ZAKS ROME, Italy (AFP) — Italy prepared Tuesday to let families skip mortgage and some tax payments to help deal with a coronavirus outbreak that has killed 631 people and forced the government to restrict movement for its 60 million citizens. Ministers said they would also ask the European Union to allow Rome to raise its deficit spending to 10 billion euros ($11.3 billion) to help businesses hurt by a precipitous drop in […]
BANGKOK, Thailand (AFP ) — Thai health authorities on Friday said they would not order the compulsory quarantine of visitors from four countries hit hard by a coronavirus, as the kingdom struggles to balance health fears with the needs of its flatlining economy. The holidays of possibly tens of thousands of people were cast into doubt on Tuesday when the health minister insisted a quarantine of all entrants from nine countries including China — its […]
