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Bloomberg Germany signed off on taking on billions in new debt as part of an unprecedented package totaling more than 750 billion euros ($800 billion) to cushion the fallout from the coronavirus pandemic. Under a supplementary budget, the government will borrow 156 billion euros to fund additional social spending and direct company aid. Germany has also agreed to set up ...

Bloomberg The UK government stepped in to shore up the country’s rail operators after Prime Minister Boris Johnson warned Britons they face “tougher measures” to fight the coronavirus outbreak, including a potential full lockdown if they continue to ignore calls to stop social gatherings. The Department for Transport said on Monday that it will take on the revenue and cost ...

Bloomberg Royal Philips NV is ramping up production of ventilators to double output within the next eight weeks and is targeting a four-fold increase by the third quarter to meet demand from hospitals overwhelmed by patients suffering from severe forms of Covid-19. The most-needed products are vital sign monitors, portable ventilators and medical equipment to treat a range of respiratory ...

Bloomberg The Russian military ended war games near its western borders as the country ramps up preventative measures to slow the spread of coronavirus (Covid-19). “It’s obvious that all of this is connected with preventive measures,” Kremlin spokesman Dmitry Peskov told reporters on a conference call on Monday. “It’s linked to the situation around the general fight against coronavirus.” The ...

Dubai / WAM As schools and universities across the country started the first day of distance learning on Sunday, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, said, “Schools are closed, but education will never stop. The UAE is the most well-equipped nation for smart learning.” Attending a virtual ...

ABU DHABI / WAM The Ministry of Education on Sunday launched the distance learning system for students in all Emirati schools and higher education institutions. The system will be in place for a period of two weeks. Hussain bin Ibrahim Al Hammadi, Minister of Education, stressed that significant efforts have been exerted by education professionals to create a technical academic ...

SHARJAH / WAM Dana Gas has said that its facilities, operations and production have not been affected by the coronaviru (Covid-19). In a statement on Sunday, the company said that its exploration and production facilities and operations in Kurdistan Region of Iraq and Egypt remain fully operational and production has not been affected by the pandemic. Natural gas makes up ...

DUBAI / WAM The Health and Environmental Affairs Committee of the Federal National Council (FNC) on Sunday held a remote meeting using video conferencing, led by Mohammed Ahmed Al Yamahi, Chairman of the Committee, to discuss a draft federal law on public health comprising 38 articles, with the participation of relevant authorities. During the meeting, Al Yamahi stated that the ...

Bloomberg India cancelled passenger trains and various states asked non-essential services to shut, as the world’s second-most populous country heads toward a complete lockdown to prevent the coronavirus from spreading locally. All except a bare minimum rail services will stop operating through March 31, the Ministry of Railways said in a statement on Sunday, hours into a self-imposed curfew called ...

Bloomberg Malaysia’s economy is set to grow at its slowest pace since the 2009 financial crisis as it struggles with a trio of troubles: coronavirus, oil-price crash and political upheaval. Analysts from Fitch Ratings to United Overseas Bank Ltd now expect Malaysia’s economy to grow about 2% this year. That compares with the government’s estimate that gross domestic product will ...