Bloomberg Indonesia’s central bank said the New York Federal Reserve will provide it with a $60 billion repurchase facility to help with liquidity needs amid a dollar shortage triggered by the coronavirus outbreak. Bank Indonesia has no plan yet to use the facility, Governor Perry Warjiyo told investors on a conference call. The agreement on the credit line was a ...

Bloomberg As risk assets regain their mojo amid optimism the coronavirus spread is beginning to level off, Bitcoin’s back above $7,000. The largest cryptocurrency gained as much as 6.4% to $7,193, its highest in nearly a month. That’s its biggest one-day gain in two weeks and caps a near 11% rally for Bitcoin so far in April. “Risk-on mode was ...

Bloomberg Republic Bank Ghana Ltd. is urging the government to cut tax rates to cushion the economy from the fallout of the coronavirus. The government should consider easing corporate-income tax to 20% from 25% and give workers relief, Benjamin Dzoboku, the Accra-based lender’s general manager for finance and strategy, said by phone. Banks, insurers, telecommunications firms, breweries and miners pay ...

Bloomberg The Federal Reserve said it will create a program to help speed the flow of funds to small companies through the government’s coronavirus stimulus, marking its latest step to shield the US economy from the pandemic. The facility will provide term financing to banks against loans issued under the Small Business Administration’s Paycheck Protection Program, the Fed said in ...

Bloomberg New Zealand’s central bank is open to increasing the size and scope of its asset-purchase program to boost stimulus as the coronavirus pandemic threatens to throw the economy into a deep recession. “We’re in a rapidly evolving situation, the assessment of the economy in financial markets is moving very quickly, and that’s what we will have to take into ...

Bloomberg India’s sovereign bond yields are climbing just as the government is kicking-off its record borrowing plan, in a sign of market discomfort with the heavy debt supply. The benchmark 10-year yield extended rise on April 7, after jumping by the most in over a year in the previous session, in reaction to the government’s 4.88 trillion rupees ($64 billion) ...

Bloomberg Deutsche Lufthansa AG is scaling back its fleet and closing the Germanwings discount arm to resize the airline group for depressed levels of travel that could last for years after the coronavirus crisis passes. The German flag-carrier will reduce capacity at its hubs in Frankfurt and Munich, retiring 18 wide-body aircraft including six Airbus SE A380 double-deckers that were ...

Bloomberg The crowd outside Wuhan’s Tianhe International Airport on Wednesday pushed forward as anxiety grew over catching their flights out of town — the first to depart since January 23. Many were people who had come to the central Chinese city for a Lunar New Year vacation in January and found themselves stuck in a protracted, nightmarish stay as the ...

Bloomberg Hong Kong’s Airport Authority is in talks with banks for a HK$20 billion ($2.6 billion) loan to help fund the city’s third runway, according to people familiar with the matter. The five-year facility, which is also meant for general corporate purposes, offers an interest margin of 72 basis points over the Hong Kong interbank offered rate and a top-level ...

Bloomberg Employee furloughs in the retail industry are now well over 1 million after the owner of TJ Maxx and Marshalls, one of America’s biggest clothing store chains, suspended its store workers. TJX Companies Inc said that it would furlough the majority of its US workforce at stores and distribution centres. It employs about 286,000 people worldwide, with most based ...