Bloomberg India expanded an emergency credit program to airlines and hospitals to cushion them from the impact of a wave of coronavirus infections and deaths. The loans, which were previously intended for specific sectors such as small borrowers, can be availed until September 30 or until total guarantees worth 3 trillion rupees ($41 billion) are offered, the Finance Ministry said …
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Bloomberg President Joe Biden’s proposed tax hikes are forecast to bring in $3.6 trillion over the next decade, the Treasury Department said, a key funding source for the $4 trillion he hopes to spend remaking the American economy and social safety net. The figure, representing the sum of all tax increases if enacted by Congress, came as is part of …
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Bloomberg Oil posted its biggest weekly gain since the middle of April ahead of the US Memorial Day weekend that kicks off country’s summer driving season. West Texas Intermediate rises 4.3% this week. A spate of positive US economic data this week continued to highlight the recovery taking shape in the world’s largest oil-consuming country, while Americans are expected to …
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Bloomberg India may need to borrow more for a second straight year to compensate its states for their revenue loss due to a shortfall in a nationwide consumption tax collection, according to people with knowledge of the matter. The additional borrowing requirement is estimated at $21.7 billion in the fiscal year started April 1, said the people, who asked not …
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AMMAN / WAM The Emirates Red Crescent (ERC) has launched the first phase of vaccination programme for Syrian refugees in the Jordanian camps to help the country confronts the coronavirus pandemic. The programme aims to vaccinate 12,000 refugees in the Emirati-Jordanian camp of Mrajeeb Al Fhood and camps of Zaatari, Al Azraq and Al Hadiqa with the Sinopharm vaccine. The …
Read More »RIYADH / WAM Gulf Cooperation Council (GCC) Secretary-General Dr Nayef Falah Mubarak Al-Hajraf welcomed on Monday the announcement of HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, that the UAE has offered to host the 28th session of the Conference of the Parties (COP 28) to the United Nations Framework Convention (UNFCCC) in Abu …
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New York / WAM The creative and cultural industry has played an essential role the world over throughout the Covid-19 pandemic and deserve more support moving forward, the President of the UN General Assembly said. “As we deliberate on the role of the creative sectors in supporting and being supported by a recovery from Covid-19, let us ensure that we …
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Bloomberg Hackers infiltrated the servers of Air India Ltd. and gained access to personal data of 4.5 million fliers, the nation’s flag carrier said. Personal data of passengers registered between August 2011 and February 2021 were compromised in the attack, the carrier said in a note to fliers that was shared via Twitter. The details included credit card and contact …
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Bloomberg The International Monetary Fund (IMF) called for a $50 billion spending plan to protect vast swaths of the world against Covid-19 and narrow a gap in access to life-saving vaccines that’s threatening the global economic recovery from the pandemic. That investment would fund an ambitious effort to immunise at least 40% of the global population by the end of …
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Bloomberg Virtual currencies are retreating so broadly and sharply, it’s testing the durability of the cryptocurrency boom. The value of more than 7,000 tokens tracked by CoinGecko has shrunk more than $600 billion in the past week to $1.9 trillion. Bitcoin, the largest cryptocurrency, slid some 11% on Wednesday to break below $40,000 and is now about $25,000 off its …
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