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Bloomberg Indonesia has pledged to boost stimulus efforts aimed at countering the coronavirus crisis by as much $1.8 billion, Finance Minister Sri Mulyani Indrawti said, as the outlook for Southeast Asia’s biggest economy continues to deteriorate. The government is preparing a raft of new measures to support the economy, Indrawti said on Wednesday, including re-allocating as much as 10 trillion ...

Bloomberg After the coronavirus outbreak caused a nationwide shortage of face masks in January, Chinese officials were quick to ensure that Tesla Inc wouldn’t be left without. China’s government helped the California-based carmaker secure the sought-after supplies that allowed it to reopen at a time when many of its competitors were still shut down. Tesla received 10,000 masks, cases of ...

Bloomberg Angela Merkel signalled she may be open to joint European Union (EU) debt issuance to help offset the impact of the coronavirus, an apparent softening of entrenched German opposition that could transform the finances of the 27-nation bloc. The unexpected opening from the leader of Europe’s dominant economy came after the chancellor and her EU counterparts agreed by video ...

Bloomberg Boris Johnson’s government announced a massive rescue package of loans and grants for businesses in a desperate attempt to stop the coronavirus pandemic wrecking the UK economy. Ministers promised help with mortgage payments, and support for airlines, shops and the hospitality industry, with 350 billion pounds ($424 billion) worth of government-backed loans, grants and tax cuts for struggling companies. ...

Bloomberg Car sales in Europe are off to their worst start to a year since 2013 and are poised to deteriorate further after automakers across the region shuttered plants to counter the coronavirus pandemic. Passenger registrations declined 7.2% in February after a similar drop in January, according to the European Automobile Manufacturers Association. Even those figures may be the best ...

Bloomberg BMW AG abandoned hopes for another record year in sales due to the coronavirus outbreak, predicting deliveries in 2020 will be “significantly below” last year’s levels and profitability at its weakest for years. The maker of the 7 Series luxury sedan announced shorter shifts and flexible working for employees. It didn’t provide details on any plant closures that have ...

Bloomberg Hospital workers in Washington state have been making protective medical gear out of office supplies and other run-of-the-mill materials as they deal with a severe shortage of equipment needed to care for patients who may have Covid-19. Among the supplies coming in handy: clear vinyl sheets. “We are very close to being out of face shields,” said Becca Bartles, ...

Bloomberg Facebook Inc. is paying all of its 45,000 employees an extra $1,000 to help manage expenses during the Covid-19 outbreak. Chief Executive Officer Mark Zuckerberg announced the decision in a memo to workers, earlier reported by The Information. The bonus applies to the social network’s full-time employees, who as of now can’t come into the office for health and ...

ABU DHABI / WAM Latest figures released by the central bank of the UAE note total foreign assets were valued at AED405.94 billion in February 2020. This figure indicates an increase of approximately AED47 billion, or 13 percent, compared to the same month last year. This growth in the central bank’s foreign assets balances reflect overall positive markers for the ...

Bloomberg Saudi Arabia plans to boost oil exports even further from April to May, reaching a record of more than 10 million barrels a day as the kingdom taps a new field. The increase in shipments of about 250,000 barrels a day shows the kingdom is determined to carry on with its policy of pumping flat out after its alliance ...