Business

KUALA LUMPUR, March 26 (NNN-BERNAMA) — The ringgit extended its gains against the US dollar at the opening session Thursday as the government and Bank Negara Malaysia (BNM) or Central Bank of Malaysia stepped in to cushion the economic impact of Covid-19 on the country due to the extended Movement Control Order (MCO) announced Wednesday.    

At 9.00 am, the local note stood at 4.3800/3950 against the greenback compared with Wednesday’s closing of 4.3838/3670.

WASHINGTON, March 26 (NNN-AGENCIES) — The US Senate unanimously passed the nation’s largest-ever rescue package, a US$2 trillion lifeline to suffering Americans, critically depleted hospitals and an economy all ravaged by a rapidly spreading coronavirus crisis.

The measure cleared the Senate 96-0 after days of tumultuous, sometimes bitter negotiations and debate, as the US death toll for the pandemic soared past 1,000, with 68,000 confirmed infections.

PARIS, March 26 (NNN-AGENCIES) — More than three billion people have been asked to stay at home in almost 70 countries and territories as governments battle the coronavirus pandemic sweeping the globe.

Most of the countries concerned, including Argentina, Britain, France, India and Italy as well as many US states, have imposed mandatory lockdown measures. Others have introduced curfews, quarantines and other social distancing recommendations.

25 Mar 2020; MEMO: Kuwait has taken a number of measures to support small and medium-sized companies and individuals to face the economic consequences of the coronavirus pandemic.

The Kuwait Banking Association said in a statement that it has decided to postpone the repayment of loans and credit card facilitations for small and medium-sized companies for six months, as well as interest.

New Delhi, Mar 25 (PTI) Amid coronavirus outbreak, the government on Wednesday banned export of anti-malarial drug hydroxycloroquine with immediate effect to ensure sufficient availability of the medicine in the domestic market.

Indian Council of Medical Research (ICMR) Director General Balram Bhargava had on Monday recommended the use of hydroxychloroquine for treating healthcare workers handling suspected or confirmed coronavirus cases and also the asymptomatic household contacts of the lab-confirmed cases.

OTTAWA, March 25 (NNN-AGENCIES) — Billions in economic aid announced last week by Prime Minister Justin Trudeau to help Canadians deal with the coronavirus pandemic hit a snag when opposition parties rejected giving his minority government unprecedented spending powers.

Thirty-two members of Parliament, proportionally representing each party instead of the full 338, gathered in Ottawa for a vote on the emergency measures.

WASHINGTON, March 25 (NNN-AGENCIES) — US senators and Trump administration officials have reached an agreement on a massive economic stimulus bill to alleviate the economic impact of the coronavirus outbreak, the negotiators said on Wednesday.

The Senate will vote on the US$2-trillion package later in the day and the House of Representatives is expected to follow suit soon after.

RIYADH, Mar 25 (NNN-SPA) – The Saudi Arabian G20 Presidency, will host a virtual G20 Summit, on response to the COVID-19 pandemic, tomorrow, March 26, the G20 Saudi secretariat said.

Saudi King, Salman bin Abdulaziz Al Saud, will chair the meeting, to advance a coordinated global response to the COVID-19 pandemic and its human and economic implications, it said in a statement.

New Delhi, Mar 24 (PTI) With the coronavirus pandemic threatening a sharp economic slowdown, experts are suggesting companies to adopt a humane approach in rationalising their expenses without going for across-the-board pay cuts or freezing of hikes to ensure a faster recovery from the slump.

KUALA LUMPUR, March 24 (NNN-BERNAMA) — Bursa Malaysia continued its upward momentum at mid-afternoon today on bargain hunting activities as well as global economic optimism over massive initiatives to combat the effects of the COVID-19 pandemic. 

Key index, FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 3.37 per cent or 42.47 points higher to 1,302.35 compared with yesterday’s close of 1,259.88.

The market traded in a tight range of 1,271.34 to 1,296.17 throughout the morning session.