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Bloomberg A panel of Indian government ministers advised Prime Minister Narendra Modi to partially lift the lockdown imposed on March 25 to control the spread of the coronavirus outbreak, people with knowledge of the matter said. Areas with large clusters of Covid-19 cases will remain closed, the people said, asking not to be identified as the discussions are private. The ...

Bloomberg Japan has earmarked $2.2 billion of its record economic stimulus package to help its manufacturers shift production out of China as the coronavirus disrupts supply chains between the major trading partners. The extra budget, compiled to try to offset the devastating effects of the pandemic, includes 220 billion yen ($2 billion) for companies shifting production back to Japan and ...

Bloomberg Malaysia will hand out 24.62 million masks, four for each household, while advising people to only use them if they have symptoms, Defense Minister Ismail Sabri Yaakob said in a statement on Wednesday. The global stance on wearing masks has started to shift over the past few weeks. Neighbouring Indonesia ordered citizens to wear face masks when they leave ...

Bloomberg The Hong Kong government is set to announce a fresh round of stimulus measures to shore up the crippled economy, with a local media report saying the total could exceed $12.9 billion. The aid package will mostly be dedicated to subsidising wages in sectors hit by closures and restrictions imposed to curb the deadly virus, according to the South ...

Bloomberg India’s TVS Motor is among prospective bidders considering making an offer for Norton Motorcycles of UK, which went into administration in January, people with knowledge of the matter said. TVS has approached Norton’s administrators about a potential deal, according to the people, who asked not to be identified because the information is private. The British firm is being overseen ...

Bloomberg Nissan Motor Co’s priority is to conserve cash while making better use of its assets instead of selling them, Chief Operating Officer Ashwani Gupta said, as the struggling carmaker confronts an existential challenge from the pandemic that’s upended the global economy. The shift in strategy offers an early indication of a recovery plan that will be unveiled next month, ...

Bloomberg The United Kingdom’s plan to grant 50 billion pounds ($61.5 billion) to companies suffering the economic effects of the coronavirus outbreak won approval from the European Commission. The EU must still police British state-aid programs because EU law is still in force during transition period as Britain exits the bloc. The EU has now cleared the UK to take ...

Bloomberg The International Monetary Fund (IMF) may launch a new program to help address the global shortage of dollars, providing a backup to the Federal Reserve’s campaign to keep greenbacks flowing around the world economy. IMF Managing Director Kristalina Georgieva is preparing to offer short-term dollar loans to countries that lack enough Treasuries to participate in a Fed program that ...

Bloomberg Denmark faces a budget deficit of 6.5% of gross domestic product this year under the most optimistic scenario provided by the Danish Economic Councils, an independent government adviser. Under that scenario, GDP would fall by 3.5% this year as the economy quickly returns to normal activity, the advisory, known as the Wise Men, said in a statement on Monday. ...

Bloomberg Germany’s economy will likely shrink this quarter at more than twice the pace recorded at the height of the financial crisis, according to the country’s leading research institutes. Output is predicted to slump 9.8% in April-June period, the most since records for quarterly data began in 1970. The economy is set to contract 4.2% over the course of this ...