Business

Harare, Mar 27 (AFP/PTI) Zimbabwe has re-introduced the use of foreign currency for domestic transactions in what was seen as a bid to tap into private forex savings as the country gears up for the battle against the novel coronavirus.

In a statement the central bank governor John Mangudya said the move is part of "measures to mitigate the devastating impact of COVID-19 on the Zimbabwean society and the economy".

Moscow, Mar 27 (AFP/PTI) The Russian government has ordered all cafes and restaurants to close for a week from Saturday to stem the spread of the coronavirus infection.

Russian regions are to "halt the activities of public food service organisations," except for delivery services, a government decree said on Friday.

New Delhi, Mar 27 (PTI) Moody's Investors Service on Friday slashed its estimate of India's GDP growth during 2020 calendar year to 2.5 per cent, from an earlier estimate of 5.3 per cent and said the coronavirus pandemic will cause unprecedented shock to the global economy.

The estimate for 2020 compares to 5 per cent economic growth in 2019.

Mumbai, Mar 27 (PTI) The RBI on Friday put on hold EMI payments on all term loans for three months and cut interest rate by steepest in more than 11 years as it joined the government effort to rescue a slowing economy that has now got caught in coronavirus whirlwind.

BEIJING, March 27 (NNN-AGENCIES) — China and the United States should “unite to fight” the deadly coronavirus pandemic that has ravaged the globe, said President Xi Jinping in a call with his US counterpart on Friday, according to state media.

The two countries have clashed in recent weeks over the virus, but Xi told President Donald Trump that China “wishes to continue sharing all information and experience with the US,” said state broadcaster CCTV.

KUALA LUMPUR, March 27 (NNN-BERNAMA) — Malaysian Prime Minister on Friday announced an economic package amounting to RM250 billion aimed at the welfare of the people, support of businesses and strengthening the economy against the effects of the COVID-19.

The amount includes a fiscal boost of RM22 billion, government guarantees amounting to RM55 billion and other initiatives amounting to more than RM153 billion.

KUALA LUMPUR, March 26 (NNN) — Qatar Airways says it has added 10,000 extra seats since Tuesday as part of its efforts to help people get to their home countries amid the COVID-19 scare.

In a statement here today, the airlines said it has been also providing charter services to Europe and the US from Asia, as well as additional flights to Paris, Perth and Dublin from Doha.

WASHINGTON, March 27 (NNN-AGENCIES) — Governments stepped up efforts on Thursday to help airlines hammered by a virus-induced travel slump, with the United States offering $58 billion in aid, Singapore promising to keep its carrier aloft, and Australia easing competition rules.

AirAsia, the region’s biggest budget carrier, was the latest airline to announce sweeping cuts to its schedule in response to the deepening crisis caused by the coronavirus outbreak. It said some of its units would halt flights altogether for a period.

BRUSSELS, March 27 (NNN-AGENCIES) — The European Union marked the 25th anniversary of its open-border Schengen agreement on Thursday with all its land borders shut or subject to heavy checks imposed in an effort to curb the spread of the coronavirus.

The Schengen agreement, underpinning an increasingly integrated and united Europe, came into force on March 26, 1995.

WASHINGTON/ACCRA, March 27 (NNN-AGENCIES) — The International Monetary Fund (IMF) has revealed that the Ghana government, has sent a special request for money to help the country address the economic impact of the COVID-19 pandemic.