Tag: billion
CEO of $18 billion nutrition company advocates for food price hikes
Each individual day, Jeremiah Borrego, founder of Olas Espresso in Brooklyn, N.Y. and who has worked in food items provider for 15 many years, attempts to give unsold oatmeal chocolate chip cookies, cheddar scones, and espresso cakes to good friends, shelters, and fellow restaurateurs. Even now, he finishes up having up involving 15% of the
Samsung considers Austin for $17 billion chip plant, eyes tax breaks of at least $806 million: documents
By Stephen Nellis, Hyunjoo Jin (Reuters) – Samsung Electronics Co Ltd is considering Austin, Texas, as one of the sites for a new $17 billion chip plant that the South Korean firm said could create 1,800 jobs, according to documents filed with Texas state officials. FILE PHOTO: The logo of Samsung Electronics is seen at
COVID-19 crisis could plunge half a billion people into poverty, says charity Oxfam
LONDON: The fallout from the coronavirus spread that has killed more than 83,000 people and wreaked havoc on economies around the world could push around half a billion people into poverty, Oxfam said on Thursday (Apr 9). The report released by the Nairobi-based charity ahead of next week’s International Monetary Fund (IMF)/World Bank annual meeting calculated
Twitter’s Jack Dorsey pledges US$1 billion for COVID-19 relief effort
SAN FRANCISCO: Twitter co-founder and chief executive Jack Dorsey said Tuesday he was committing US$1 billion of his personal fortune to coronavirus relief through his philanthropic fund. Dorsey said in a series of tweets that he would transfer his equity in his digital payments group Square to his limited liability corporation Start Small, contributing around
More aid for Malaysian SMEs as Muhyiddin unveils additional RM10 billion package amid COVID-19
KUALA LUMPUR: The Malaysian government on Monday (Apr 6) announced an additional stimulus package worth RM10 billion (US$2.3 billion) to help struggling small- and medium-size enterprises (SMEs) affected by the COVID-19 outbreak. In a live televised address, Prime Minister Muhyiddin Yassin noted that SMEs contributed to 40 per cent of the economy, adding that it
Solidarity Budget to cost S$5.1 billion, S$4 billion more needed from reserves
SINGAPORE: A third tranche of COVID-19 support measures that includes cash payouts and additional support for jobs will cost the Government S$5.1 billion, with S$4 billion to be drawn from Singapore’s reserves. The additional measures – which include wage subsidies for every local worker, cash payouts for all adult citizens and more help for the
China says it has sold nearly 4 billion masks abroad
BEIJING: China has sold nearly four billion masks to foreign countries since March, officials said Sunday (Apr 5), as they tried to stem widespread fears over the quality of medical exports. Despite Chinese cases dwindling, Beijing has encouraged factories to increase production of medical supplies as the pandemic kills over 60,000 globally and parts of
China slashes rate, pumps US$7 billion into market to counter COVID-19 impact
BEIJING; China’s central bank on Monday (Mar 30) cut an interest rate on loans to banks by the largest margin in five years and injected 50 billion yuan (US$7 billion) into the financial system to help the world’s second-largest economy weather the coronavirus impact. The People’s Bank of China (PBoC) said it launched a 50-billion-yuan reverse
Malaysia unveils RM250 billion economic stimulus package as COVID-19 cases surge
KUALA LUMPUR: Malaysia has announced an economic stimulus package worth RM250 billion (US$58 billion) on Friday (Mar 27) to weather the impact of COVID-19. Prime Minister Muhyiddin Yassin said in a televised address that the stimulus package comprises special allowances for healthcare providers, one-off cash aid and microcredit scheme for small- and medium-size enterprises, among others. Advertisement Advertisement
COVID-19 Resilience Budget: ‘Landmark’ S$48 billion package to tide Singapore through ‘unprecedented’ crisis
SINGAPORE: A public health crisis, an economic shock and a social test rolled into one – the COVID-19 outbreak has been an “unprecedented crisis of a highly complex nature”, Deputy Prime Minister Heng Swee Keat said on Thursday (Mar 26) as he announced what he called a Resilience Budget to help deal with the situation.
COVID-19 Budget: More than S$1 billion for aviation, tourism, other sectors
SINGAPORE: As part of the second assistance package in response to the COVID-19 outbreak, more than S$1 billion will be set aside for sectors such as aviation and tourism that have been hardest hit by the pandemic. The bulk of this, amounting to more than S$750 million, will go to two schemes for the aviation
COVID-19 death toll passes 20,000, three billion under lockdown
MADRID: More than 3 billion people around the world were living under lockdown on Wednesday (Mar 25) as governments stepped up their efforts against the coronavirus pandemic which has left more than 20,000 people dead. As the number of confirmed cases worldwide soared past 450,000, UN Secretary General Antonio Guterres warned that only a concerted global
Indonesia to support economy with US$8 billion stimulus to counter COVID-19 impact
JAKARTA: Indonesia announced a 120 trillion rupiah (US$8.1 billion) stimulus package on Friday (Mar 13) to support Southeast Asia’s biggest economy as the spread of the coronavirus disrupts global activity. The stimulus, representing 0.8 per cent of gross domestic product (GDP), includes exempting some workers in manufacturing from income tax and giving manufacturing companies a discount
Australia unveils US$1.6 billion health package to combat coronavirus
SYDNEY: Australia unveiled a A$2.40 billion (US$1.56 billion) health package on Wednesday (Mar 11) that proposes to set up fever clinics and offer cost-free facilities for people to consult doctors over video calls, as it combats the spread of the coronavirus. “Just under US$1.2 billion of that will actually, we anticipate, be spent this financial