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Bloomberg Hong Kong lost its title as the world’s freest economy to Singapore for the first time since 1995 in a global survey, as social unrest and uncertainties rattled its reputation as a global financial hub. Hong Kong’s overall economic freedom score fell primarily due to a decline in its marks for investment freedom, according to the 2020 Index of ...

Bloomberg India could become the next global hotspot for virus cases, with experts warning containment measures that proved successful elsewhere in Asia may not work in the world’s second-most populous country. The South Asian nation, which has so far reported 125 infections and three deaths, is trying to contain the virus by closing its borders, testing incoming travellers and contact ...

Bloomberg As the world struggles with the rapid spread of Covid-19, Hong Kong appears to be having success controlling it — in part because the memory of a similar virus in 2003 prompted a public outcry early on. Hong Kong’s government quickly implemented restrictive “social distancing” measures now being hotly debated around the world, in part because of pressure from ...

Bloomberg Malaysia’s lockdown is the latest threat to a Singapore economy already reeling from the coronavirus outbreak. The city state relies heavily on its neighbour’s workers and food, and Malaysia’s move to ban all visitors and prevent residents from traveling overseas for about two weeks will choke off a key labour channel. Maybank Kim Eng Research Pte estimates that about ...

Bloomberg Italy’s government approved a 25 billion-euro ($28 billion) package to support its strained health system while helping businesses and families counter the economic impact of Europe’s worst coronavirus outbreak. The decree, approved at a cabinet meeting chaired by Prime Minister Giuseppe Conte, laid out new measures ranging from suspending tax payments to helping cover layoffs to mortgage relief, as ...

Bloomberg France will guarantee up to 300 billion euros ($335 billion) of bank loans to companies in an effort to bolster firms threatened by the impact of the coronavirus outbreak, President Emmanuel Macron said. The government will also allow companies to delay paying their taxes and social security contributions and provide support to help them delay loan payments, Macron said ...

Bloomberg UK businesses struggling to avoid collapse will be promised extra help by Boris Johnson’s government as the coronavirus inflicts further damage on the global economy. Airlines, tourist attractions, restaurants and theaters are among organisations facing a bleak outlook after the prime minister announced curbs on public events, travel and social gatherings. On Tuesday, Chancellor of the Exchequer Rishi Sunak ...

Bloomberg Facebook Inc, Alphabet Inc.’s Google, Microsoft Corp., Twitter Inc. and Reddit said they are teaming up to provide accurate information about the coronavirus and the Covid-19 illness it causes. “We’re helping millions of people stay connected while also jointly combating fraud and misinformation about the virus, elevating authoritative content on our platforms, and sharing critical updates in coordination with ...

Bloomberg Spain’s securities regulator banned short selling for a month in an attempt to shield local stocks from the volatility caused by the coronavirus outbreak. The decision “has been taken due to the extreme volatility taking hold of European securities markets, including those based in Spain, their performance in the context of the situation arisen as a result of the ...

Bloomberg The euro area’s gigantic bailout fund is exploring how it can use its reserves to cushion the impact of a virus-induced recession, in a move that could help reassure markets after a spike in borrowing costs for the region’s most vulnerable economies. Klaus Regling, the head of the European Stability Mechanism, said Monday it has an unused lending capacity ...