The Iranian economy is plummeting.
Finance Minister Nirmala Sitharaman Tuesday announced a slew of measures to provide compliance relief to businesses, taxpayers and the common man while promising a comprehensive economic package “sooner rather than later” amid a widening coronavirus outbreak in the country.
Most of Europe is now experiencing an unprecedented type of crisis whereby governments are deliberately and forcefully ordering the economy to shrink, in order to save lives. They hope that the eventual rebound will make up for at least part of the loss.
A consortium of Bain Capital and Piramal Group, and SSG Capital Management, are in preliminary talks to put fresh equity capital worth Rs 500 crore ($65.6 million at current exchange rate) in CG Power and Industrial Solutions.
The Financial Stability Board of the National Bank of Hungary (MNB) has adopted a comprehensive package of measures to mitigate the effects of the crisis on the financial intermediary sector, the central bank said on its website, reports adozona.hu.
Euro zone bond yields reacted little to a historic slump in the region’s business activity on Tuesday.
The Federal Reserve’s latest moves have extended its reach even further into the economy. Yet, unlike a decade ago, during the financial crisis, few are complaining.
UBS is still busy fending itself against allegations of abetting tax avoidance.
Cornerstone Capital Group has hired Glen Macdonald and Shahnawaz Malik as senior investment advisors.
On Monday, the US Federal Reserve, in a drastic move, pledged to back purchases of corporate bonds and buy unlimited amount of Treasury bonds for the first time to ensure credit flows to corporations and local governments.
- S.Korea doubles coronavirus rescue package to 100 tln won (Reuters: Mar 24, 2020 at 3:57 AM)
- South Korea doubles coronavirus rescue package to $115.7b (The Straits Times: Mar 24, 2020 at 4:15 AM)
- S.Korea doubles coronavirus rescue package to 100 tln won (The Hindu: Mar 24, 2020 at 4:15 AM)