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Updated: 18 hours 59 min ago

New Delhi and scores of Indian districts under lockdown to contain coronavirus spread

Sun, 03/22/2020 - 22:00
New Delhi will be under lockdown until March 31, the Indian capital's government announced on Sunday, seeking to keep citizens indoors to prevent the spread of coronavirus and giving police powers to punish violators.

Russia blames Gulf nations for oil crash - TASS

Sun, 03/22/2020 - 21:33
Russia did not seek an end to cooperation with OPEC or a sharp drop in oil prices, a senior Russian official told the TASS news agency, saying the Gulf nations are to blame for the crisis on global oil markets.

H&M lines up supply chain to deliver protective gear to hospitals

Sun, 03/22/2020 - 21:24
Sweden's H&M , the world's second-biggest fashion retailer, said on Sunday it would use its vast supply network to source personal protective equipment for hospitals in the European Union to help curb the spread of the coronavirus.

Ford, GM, Tesla getting 'go ahead' to make ventilators - Trump

Sun, 03/22/2020 - 20:33
U.S. President Donald Trump said on Sunday that U.S. automakers Ford Motor Co, General Motors Co and Tesla Inc had been given the green light to produce ventilators and other items needed during the coronavirus outbreak.

Toyota to stop output at 1 vehicle production line in Japan due to COVID-19

Sun, 03/22/2020 - 20:31
Toyota Motor Corp on Sunday said it would suspend production on one of its vehicle production lines at a plant near its headquarters in Japan through Wednesday, after a second plant worker tested positive for the COVID-19 virus.

Coronavirus aid bill includes $3,000 for families, $4 trillion liquidity for Fed - Mnuchin

Sun, 03/22/2020 - 20:11
The coronavirus economic relief bill being finalized by the U.S. Congress will include a one-time $3,000 payment for families and allow the Federal Reserve to leverage up to $4 trillion of liquidity to support the nation's economy, U.S. Treasury Secretary Steven Mnuchin said on Sunday.

Primark to close its 189 stores in UK - Financial Times

Sun, 03/22/2020 - 19:24
Associated British Foods Plc intends to close its 189 Primark stores in the United Kingdom from Sunday night after cancelling all new orders from suppliers as demand shrinks due to the coronavirus outbreak, the Financial Times reported.

Automakers halt production in India due to coronavirus

Sun, 03/22/2020 - 19:04
India's biggest automaker Maruti Suzuki India and peers including Mahindra & Mahindra , Mercedes-Benz and Fiat Chrysler Automobiles (FCA) said on Sunday they will halt car production in the country due to the coronavirus outbreak.

India lays out $6 billion roadmap to boost electronics manufacturing

Sun, 03/22/2020 - 18:05
India's cabinet has approved a 480 billion rupees ($6.37 billion) plan to boost electronics manufacturing and woo large investment to a country which, following Prime Minister Narendra Modi's Make-in-India drive, has become the world's second-biggest mobile phone manufacturer.

Fed's Bullard: Coronavirus shutdown not a recession but an investment in survival

Sun, 03/22/2020 - 15:38
In normal times massive unemployment and a collapse in economic output would be tragic.

Iraq ministry needs cash to build grain stockpile as coronavirus spreads

Sun, 03/22/2020 - 15:25
Iraq's Trade Ministry is in need of more money from the budget to build three months' supply in its strategic wheat and rice stockpiles in the face of the country's growing coronavirus problems, it said late on Saturday.

Britain has ventilator prototypes, looking to start manufacturing -housing minister

Sun, 03/22/2020 - 14:34
Britain has received the first prototypes of new ventilators to help the health service handle the coronavirus pandemic, and production of new machines should start soon, housing minister Robert Jenrick said on Sunday.

Renault aims to avoid renationalisation - chairman

Sun, 03/22/2020 - 13:12
Renault may seek French government guarantees to bolster its finances in the face of the coronavirus crisis, but a renationalisation of the carmaker is not being considered, Chairman Jean-Dominique Senard told Le Parisien newspaper.

Turkish Airlines says 85% of its passenger planes idle due to coronavirus outbreak

Sun, 03/22/2020 - 13:06
Turkish Airlines' board chairman said on Sunday that 85% of the carrier's passenger planes were not being used at the moment, after Turkey banned flights from more than 60 countries due to the coronavirus outbreak.

China central bank calls for stepped-up global policy coordination

Sun, 03/22/2020 - 12:28
A Chinese central bank official called on Sunday for stepped up global policy coordination to manage the economic impact of the coronavirus outbreak, and said Beijing's recent policy measures were gaining traction while it had capacity for further action.

UAE energy ministry activates remote work system for all services

Sun, 03/22/2020 - 10:18
The energy and industry ministry of the United Arab Emirates activated on Sunday a remote work system for all its services, as part of efforts to contain the new coronavirus outbreak, according to a post on twitter, addressed to its customers.

Exclusive: Goldman injects $1 billion into own money-market funds after heavy withdrawals

Sun, 03/22/2020 - 09:07
Goldman Sachs Group Inc poured more than $1 billion into two of its prime money-market portfolios this week due to heavy investor withdrawals, in what the Wall Street bank described as a pre-emptive move to boost liquidity at a time of coronavirus-related stress.

China central bank official expects significant improvement in second-quarter economic indicators

Sun, 03/22/2020 - 08:51
A Chinese central bank official said on Sunday that recent policy measures are helping improve the Chinese economy and that he expects significant improvement in economic indicators in the second quarter.

Airlines appear to come up short in bid to win cash grants in rescue package

Sun, 03/22/2020 - 08:42
A last-ditch effort by the chief executives of major U.S. airlines to try to win cash grants to weather the coronavirus crisis looked to be unsuccessful, four congressional aides and airline officials said late Saturday.

British banker hit with 14 million euro penalty in German fraud trial

Sat, 03/21/2020 - 22:55
Two British bankers were handed suspended jail terms on Wednesday and one a 14 million euro ($14.97 million) penalty in Germany's biggest post-war fraud trial of a scam involving multi-billion-euro trades to get bogus tax reclaims.