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Bloomberg In the villages of India’s most populous state of Uttar Pradesh, even some family members returning home from the cities aren’t allowed in. State officials have told village councils to keep returning labourers from entering the town or meeting people due to fears they may be infected with the coronavirus. Instead, they’re forced to stay in schools or farms ...

Bloomberg European Union (EU) finance ministers agreed on a 540 billion-euro ($590 billion) package of measures to combat the economic fallout of the global coronavirus pandemic. It’s now up to EU leaders to approve the accord, which will require overcoming profound political disagreements. In an emergency teleconference, finance chiefs approved a plan to stave off what’s expected to be a ...

Bloomberg Renault SA Chairman Jean-Dominique Senard said the French carmaker is seeking as much as 5 billion euros ($5.5 billion) in government-backed loans to weather the coronavirus pandemic, while dismissing the possibility of nationalisation. “We are working on the idea of bank loans that would be guaranteed by the state and are destined to be reimbursed,” Senard Friday on RTL ...

Bloomberg Bulgaria is renewing efforts to join the euro area’s waiting room in the hope for easier access to financial aid in the coronavirus crisis. The European Union’s poorest country has been pushing to join the currency zone since 2016 to boost living standards and avoid being sidelined in the bloc’s decision-making. After numerous setbacks, the central bank has signaled ...

Bloomberg Italy extended a national lockdown until May 3, rejecting calls by business leaders to allow a gradual restart of the economy. The decision reflects a pattern playing out in many parts of Europe as health officials and politicians warn against letting up too early on restrictions to stem the spread of the coronavirus and avoid a second wave of ...

Bloomberg The disruption caused by the fallout from coronavirus outbreak is the last thing Spain’s car industry needs. Already under pressure from the shift to electric vehicles, the pandemic risks raising uncomfortable questions for Europe’s second-largest auto producer. As auto bosses plot their course for the years ahead — with less money to spread around — Spain could come up ...

Bloomberg Caterpillar Inc. is in discussions with banks to raise a new $3 billion 9-month revolving credit facility. The deal could be increased to about $5 billion in total and will help boost the construction equipment company’s liquidity, the people said. Representatives for Citibank, which is leading the deal, and Caterpillar declined to comment. Other banks on the deal include ...

RIYADH / WAM The Joint Forces Command of the Coalition to Restore Legitimacy in Yemen has declared a comprehensive ceasefire in Yemen for a period of two weeks, starting April 9 at 12:00 KSA time. The two-week period is subject to extension. “Based on its previous announcement on March 25, the Joint Forces Command of the coalition supported the Yemeni ...

Bloomberg Oil rose but trading was volatile as the world’s top producers inched towards a deal to curb output. Brent futures were higher on the day, but fell sharply by about $2 a barrel on concerns that any deal may not be enough to stem rising inventories. The Opec+ meeting discuss curbing output by 10 million barrels a day, said ...

ABU DHABI / WAM The UAE Space Agency, in collaboration with the Abu Dhabi-based global innovation hub Krypto Labs, announced that it would be kicking off its virtual programmes as part of the Global Space Industry Accelerator (GSIA) initiative. As part of its digital transformation, the UAE Space Agency will be holding a virtual roadshow for the NewSpace Innovation Programme. ...