Business

PARIS, March 31 (NNN-AGENCIES) — A number of European governments have rejected Chinese-made equipment designed to combat the coronavirus outbreak.

Thousands of testing kits and medical masks manufactured by an unathorised Shenzhen based company Bioeasy Biotechnology are below standard or defective, according to authorities in Spain, Turkey and the Netherlands.

30 Mar 2020; MEMO: Qatar Airways will have to seek government support eventually, Chief Executive Akbar al-Baker told Reuters on Sunday, warning that the Middle East carrier could soon run out of the cash needed to continue flying.

Several states have stepped in to help airlines hammered by the coronavirus pandemic that has virtually halted international travel, with the United States offering $58 billion in aid.

Singapore, Mar 30 (AFP/PTI) Oil prices extended losses in Asian trade Monday and languished at 17-year lows, with the coronavirus crisis escalating around the world and no end in sight to a vicious price war.

US benchmark West Texas Intermediate fell 5.3 percent to trade at 20 a barrel, while international benchmark Brent crude was off 6.5 percent at 23.

Mumbai, Mar 30 (PTI) The Indian fell 32 paise to 75.21 against the US dollar in opening trade on Monday, as investors braced for a prolonged period of uncertainty as coronavirus-induced lockdowns tightened across the world and in India.

Forex traders said weak opening in domestic equities dragged the local unit amid mounting fears of a coronavirus-led economic slowdown.

Beijing, Mar 30 (AFP/PTI) China's central bank on Monday cut an interest rate on loans to banks by the largest margin in five years and injected 50 billion yuan (USD 7 billion) into the financial system to help the world's second-largest economy weather the coronavirus impact.

The People's Bank of China (PBoC) said it launched a 50-billion-yuan reverse repurchase operation on Monday and lowered the seven-day reverse repurchase rate from 2.40 percent to 2.20 per cent.

Mumbai, Mar 30 (PTI) Equity benchmark Sensex plummeted over 1,375 points on Monday, tracking heavy losses in banking and auto stocks, amid an unsettling spike in Covid-19 cases.

After plunging over 1,500 points during the day, the 30-share BSE barometer ended 1,375.27 points or 4.61 per cent lower at 28,440.32.

Canberra; 30 March 2020 (UMM): Eight days since the second stimulus package was announced, Australian PM Scott Morrison announced a third stimulus package to the tune of $130 billion to save “hibernating” businesses forced to close their doors during lockdown, and their employees.

Package includes a $1,500 per fortnight payment to employers, so that they can maintain their employees during this hibernation period.

29 Mar 2020; MEMO: Egyptian banks have been instructed to apply temporary limits on daily withdrawals and deposits in a move seemingly designed to control inflation and hoarding as concern grows over the spread of the coronavirus, reported Reuters.

KUALA LUMPUR, Mar 29 (NNN-XINHUA) – The joint fight against COVID-19 has bonded Malaysia and China closer, as China sending much-needed supplies and support to Malaysia, Malaysian Foreign Minister, Hishammuddin Hussein said, Saturday.

In the handover ceremony of medical equipment from the Chinese government to Malaysia, Hishammuddin said, China has once again come forward to work closely with Malaysia, as his country faces very difficult times against COVID-19, quoting a Chinese saying: “We really truly know our friends in times of crisis.”

28 Mar 2020; MEMO: An Iranian official announced on Friday that some of Tehran’s frozen funds abroad under US sanctions have been released as part of measures to help Iranian authorities combat the spread of COVID-19.