CEO Tab
  • Home
  • Prime News
  • International Market
  • Special Report
  • Corporate
  • Opinion
  • Next Gen
  • Entertainment
No Result
View All Result
CEO Tab
  • Home
  • Prime News
  • International Market
  • Special Report
  • Corporate
  • Opinion
  • Next Gen
  • Entertainment
No Result
View All Result
CEO Tab
No Result
View All Result
Home Prime News

West unleashes billions to shield economy in virus ‘war’

CEO TAB by CEO TAB
March 20, 2020
in Prime News
0
West unleashes billions to shield economy in virus 'war'
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter

Rome, March 20: Western powers said they were on a war footing against the coronavirus as they unleashed nearly one trillion dollars to rescue the global economy, with Italy reporting the highest single-day death toll of the pandemic. The spiralling crises in Europe, the United States and other countries contrast sharply with the improving situation in China.

You might also like

Proposed Company Law Amendment May Force Large FDI Firms to Go Public

Bird Flu Detected in 82 Locations Across 11 Districts; Kathmandu Valley Emerges as Hotspot

Government Considers Allowing Companies to Issue Shares Below Rs 100 Face Value

China on Thursday (March 19) reported zero new domestic cases for the first time since the outbreak first erupted in the central city of Wuhan in December. But for most other places around the world, the pandemic was worsening quickly with the number of infections climbing above 200,000 and confirmed deaths nearing 9,000. “I view (myself) as a, in a sense, a wartime president. I mean, that’s what we’re fighting,” Donald Trump said Wednesday (March 20) as he announced the deployment of military hospital ships to treat a fast-growing number of American patients.

German Chancellor Angela Merkel took a similar tone, echoing French President Emmanuel Macron who earlier this week compared the battle to war as he ordered his citizens to stay home. “Not since the Second World War has our country faced a challenge that depends so much on our collective solidarity,” Merkel said in a television address.

Dire news came out of Italy which reported 475 new deaths, the highest single-day toll of any country. Italy has now recorded more than one-third of global deaths and has shut down all businesses and public gatherings — steps that have been copied across the world. “The main thing is, do not give up,” Italian National Institute of Health chief Silvio Brusaferro told reporters. – Bank bazooka – With countries paralysed by the pandemic and stock markets imploding, policymakers have this week unleashed a wave of measures to shore up the global economy.

The European Central Bank on Wednesday (March 18) announced a 750-billion-euro bond-buying scheme, days after it unveiled a big-bank stimulus package that failed to calm anxious markets. Trump signed a $100 billion emergency aid package that sailed through Congress to provide free coronavirus testing for those who need it, sick pay and paid family leave.

Trump also invoked a Korean War-era law that allows the government to compel businesses to sign contracts — which can be used to expand production of necessities such as protective masks. Australia’s central bank cut rates to a new record low. However, the moves, like other emergency stimulus measures over recent week, failed to ease the sense of impending economic doom. Asian markets took another beating on Thursday (March 19) morning, with the Manila stock market initially plunging almost 25 per cent after a two-day suspension. – Borders sealed – Countries are taking increasingly drastic steps to stem the flow of infections, with Australia on Thursday (March 19) banning non-residents from arriving. Canada and the US said Wednesday (March 18) they were closing their border — the world’s longest — to all but essential travellers for 30 days.

Britain, where Prime Minister Boris Johnson had initially chosen a different path, followed the lead of his European counterparts and said schools would shut nationwide from Friday as the death toll topped 100. The European Union this week imposed a 30-day ban on travellers from outside the bloc. Within the bloc some countries have sealed borders, while bars, restaurants and most shops have closed their doors until further notice, bringing life in Europe’s normally bustling cities to a halt.

The Eurovision song contest and European football tournaments have been suspended. In Jerusalem’s deserted Old City, bakery-owner Marwan Shawar summed up the mood in a sombre tone: The virus “is worse than war. It’s more dangerous. We are fighting against something unknown. Invisible.” – China milestone – Offering some hope for the rest of the world, the rise in infections and deaths have slowed in some China and some other parts of Asia. China reported Thursday (March 19) no new domestic cases for the first time since it started recording them in January.

About 56 million people in central Hubei province and its capital, Wuhan, have been locked down since late January. Authorities have started to ease travel restrictions in Hubei, allowing people who have jobs or other in other parts of the country to finally leave.

But China reported 34 that came from abroad — the biggest daily increase in two weeks. Concerned about the influx, Beijing and other regions in the country now require most international arrivals to quarantine in designated hotels for 14 days. “We should never allow the hard-won and continuous positive trend to be reversed,” President Xi Jinping said at a Communist Party leadership meeting.

In Japan, its northernmost main island of Hokkaido lifted a state of emergency declared last month, saying it sees signs of the outbreak tapering off. – Threats elsewhere – Still, the first reported infection on the tiny Pacific island and the first confirmed coronavirus death in Sub-Saharan Africa highlighted how the battles had only begun in other parts of the world.

The head of the World Health Organization, Tedros Adhanom Ghebreyesus, urged countries to “come together as one against a common enemy: an enemy against humanity.” He sounded a special alarm for Africa, saying the continent must “wake up” and prepare for the worst.

The first known fatality in sub-Saharan Africa was in Burkina Faso, with the death of the first vice president of parliament. A slew of Latin American countries announced nighttime curfews, with Chile declaring a “state of catastrophe”, and Cuba and Costa Rica recording their first deaths. AFP

Share30Tweet19
CEO TAB

CEO TAB

Recommended For You

Proposed Company Law Amendment May Force Large FDI Firms to Go Public

by CEO Tab
June 24, 2026
0
Proposed Company Law Amendment May Force Large FDI Firms to Go Public

The government has proposed major changes to Nepal’s corporate sector by making it mandatory for foreign direct investment (FDI)-based companies with investments of Rs 500 million or more...

Read more

Bird Flu Detected in 82 Locations Across 11 Districts; Kathmandu Valley Emerges as Hotspot

by CEO Tab
June 24, 2026
0
Bird Flu Detected in 82 Locations Across 11 Districts; Kathmandu Valley Emerges as Hotspot

Bird flu has been confirmed in 82 locations across 11 districts of Nepal, with the Kathmandu Valley emerging as the country's main hotspot, according to the Department of...

Read more

Government Considers Allowing Companies to Issue Shares Below Rs 100 Face Value

by CEO Tab
June 24, 2026
0
Government Considers Allowing Companies to Issue Shares Below Rs 100 Face Value

The government is considering a major reform in Nepal's capital market by allowing public limited companies to issue primary shares with a face value lower than the current...

Read more

Nepal Partially Reopens Registration of Public Transport Vehicles

by CEO Tab
June 23, 2026
0
Nepal Partially Reopens Registration of Public Transport Vehicles

The Department of Transport Management (DoTM) under the Ministry of Physical Infrastructure and Transport has partially lifted its indefinite suspension on the registration of public transport vehicles. According...

Read more

Nepal’s Foreign Trade Expands by 14.78%, Trade Deficit Widens Further

by CEO Tab
June 23, 2026
0
Nepal’s Foreign Trade Expands by 14.78%, Trade Deficit Widens Further

Nepal's total foreign trade increased by 14.78 percent during the first eleven months of the current fiscal year 2025/26 (2082/83 BS), reaching Rs 2.172 trillion, according to the...

Read more
Next Post
COVID-19: Border transit points shut down

COVID-19: Border transit points shut down

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Corporate
  • Entertainment
  • Featured
  • International
  • Major Story
  • Next Gen
  • Opinion
  • Prime News
  • Special Report
  • Tete – A – Tete

EDITOR

Manish Raj Poudel
info@ceotab.com
9841317747


PUBLISHED BY

Welcome Group
www.welcomeadnepal.com

Publisher

www.ceotab.com is a premium news portal being run by Welcome Group. The website features quality business/economic news contents,  in-depth profiles of companies, stories of struggle and success of entrepreneurs, articles that assess various dimensions of  the commerce, trade and economy.

Editor

Manish Raj Poudel

info@ceotab.com

9841317747

Sub-Editor

Riza Poudel

poudelriza@gmail.com

Archives

© 2023 CEO Tab. All rights reserved.

No Result
View All Result
  • Home
  • Prime News
  • International Market
  • Special Report
  • Corporate
  • Opinion
  • Next Gen
  • Entertainment

© 2023 CEO Tab. All rights reserved.