Historic $2.2 trillion coronavirus bill passes U.S. House, headed to Trump

WASHINGTON (Reuters) – The U.S. House of Representatives on Friday approved a $2.2 trillion aid package – the largest in American history – to help people and businesses cope with the economic downturn inflicted by the coronavirus pandemic. The massive bill also rushes billions of dollars to medical providers on the front lines of the outbreak. Republican President Donald Trump […]

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Enhanced financing schemes, $20 billion in loan capital to give businesses access to credit during Covid-19 crisis

SINGAPORE – Around $1.7 billion drawn from past reserves will be used to finance several enhanced schemes to provide businesses with access to credit amid the coronavirus outbreak. The Temporary Bridging Loan Programme, which was rolled out to the hard-hit tourism sector at last month’s Budget, will be made available to enterprises across all sectors from April 1. Businesses can […]

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World's ailing airlines appeal for aid as U.S. offers $58 billion

DUBAI/SINGAPORE (Reuters) – Global airlines urged the world’s major economies to act quickly to prevent irreversible damage to an industry that has seen demand decimated almost overnight by the coronavirus crisis. Several states have already stepped in to help airlines hammered by the travel slump, with the United States offering $58 billion in aid, Singapore announcing support for aviation and […]

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U.S. House sets Friday debate for coronavirus aid bill

WASHINGTON (Reuters) – The U.S. House of Representatives will begin a two-hour debate on a sweeping, $2.2 trillion coronavirus aid bill at 9 a.m. (1300 GMT) on Friday but it was not clear whether the measure would be able to pass on a voice vote, the House Majority Leader’s office said late on Thursday. While most House members are in […]

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Giant U.S. coronavirus relief bill heads for debate in House

WASHINGTON (Reuters) – The U.S. House of Representatives will begin a two-hour debate on a sweeping, $2.2 trillion coronavirus aid bill at 9 a.m. (1300 GMT) on Friday, despite doubts over whether it can quickly pass on a voice vote or will be delayed into the weekend. While most of the House’s 430 members are in their home districts because […]

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PM and ministers to take three-month pay cut in solidarity with Singaporeans coping with coronavirus

SINGAPORE – The Prime Minister, Cabinet ministers and other political office-holders – as well as the President – will take a three-month pay cut to stand in solidarity with Singaporeans in this difficult time, Deputy Prime Minister Heng Swee Keat said on Thursday (March 26). Mr Heng, who is also Finance Minister, said that political office-holders will take an additional […]

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EU lawmakers back suspension of airline slots rule until October

BRUSSELS (Reuters) – European lawmakers overwhelmingly agreed on Thursday to suspend until Oct. 24 a rule requiring airlines to use at least 80% of their flight slots to keep them the following year so as to ease an industry crisis unleashed by the coronavirus pandemic. Following a deal reached last week by envoys of the EU’s 27 member states, the […]

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Coronavirus: Resilience Budget will save jobs, support firms as S’pore faces biggest challenge in over a decade: Heng Swee Keat

SINGAPORE – The supplementary budget to be presented in Parliament on Thursday afternoon (March 26) is to be called the Resilience Budget, and it will help to save jobs and support companies, said Deputy Prime Minister Heng Swee Keat. More will be given to those who have been hardest hit. Households will also receive additional help to tide through this […]

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Coronavirus: Parliament to shut down tonight over COVID-19 spread fears

Parliament is shutting down a week early because of fears over the spread of coronavirus. MPs will be sent back to their constituencies for Easter recess tonight, as soon as new laws handing emergency lockdown powers to the government are passed. Commons Leader Jacob Rees-Mogg thanked them for “coming together” to unanimously back the Coronavirus Bill, which now only needs […]

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