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Bloomberg India’s 21 trillion rupee ($277 billion) virus-relief package fell short of economists’ expectations, providing fiscal measures that will help improve growth over the years without delivering an immediate boost to an economy that desperately needs it. Analysts have been pouring over the details provided by Finance Minister Nirmala Sitharaman over the past five days, and the conclusion of many ...

Bloomberg Total SA abandoned a plan to acquire assets from Occidental Petroleum Corp in Ghana, walking away after a proposal to buy Algerian projects from the US company also collapsed. The breakdown of both sales is a setback for Occidental, which had earmarked the proceeds to help reduce debt after buying Anadarko Petroleum Corp for $37 billion last year. After ...

Bloomberg Some 108 million people in China’s northeast region are being plunged back under lockdown conditions as a new and growing cluster of infections causes a backslide in the nation’s return to normal. In an abrupt reversal of the re-opening taking place across the nation, cities in Jilin province have cut off trains and buses, shut schools and quarantined tens ...

Bloomberg German Finance Minister Olaf Scholz is planning a 57 billion-euro ($62 billion) aid package to help municipalities being hit by the economic fallout from the coronavirus pandemic, a person familiar with the matter said. The plan, which Scholz announced on Saturday without giving the size of the measures, would help local governments cover outstanding debt and tax shortfalls caused ...

Bloomberg France is at higher risk of a credit downgrade by Fitch after the outlook on the country’s AA rating was revised to negative. Fitch cited the substantial worsening in public finances and economic activity expected this year due to the pandemic. “The combination of much reduced economic activity due to containment measures introduced from March and government policies to ...

Bloomberg More than $8 trillion has been thrown at the Covid-19 crisis by governments around the globe and hundreds of billions more by central banks from Washington to Wellington. And that means investors are finding a swath of opportunities from investment-grade bonds to emerging-market equities. Looking where central banks themselves are buying, even if it’s been well flagged, still has ...

ABU DHABI / WAM The Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI) touched the lives of 71 million people across 108 countries with AED 1.3 billion worth of humanitarian and social projects and relief campaigns in 2019. During the first-of-its-kind virtual event, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and ...

SHABWA / WAM The UAE, represented by the Emirates Red Crescent (ERC), has launched the annual Eid Clothing Charitable Programme for the benefit of the families of the martyrs in Shabwa Governorate, Yemen. Up to 1100 purchase vouchers from several commercial centers in Shabwa have been handed out by ERC teams among the targeted beneficiaries, including orphans, families of children ...

DUBAI / WAM Emirates Post has launched ‘epostcard,’ a digital postcard application that will allow users to create customised physical postcards for friends, families, colleagues, and stakeholders. The ‘epostcards’ app, which can be downloaded from iOS App Store and Google Play Store, will allow individuals to design bespoke postcards to send to friends and family and for companies to send ...

ABU DHABI / WAM NYU Abu Dhabi (NYUAD) Class of 2022 student Cameron John Wehr has been named as a recipient of the prestigious Boren Award, which promotes linguistic and cultural immersion within critical language groups, including Arabic, Chinese, Portuguese, and Swahili. Wehr is the first student from NYUAD to receive this award and will study Mandarin for one year ...