Carmakers borrow industry-leading $132 billion to weather Covid-19

The automotive industry has borrowed $132 billion since March as the spread of the coronavirus curbed demand for cars and closed factories. The sector is the largest user of funds put in place to ease the impact of the pandemic. The amount consists of $79 billion in new loans and $53 billion in drawdowns from existing credit lines. Facilities linked to the pandemic account for almost 80% of overall loan borrowings by the sector in the year to date. Loans for virus relief, which peaked during the March-to-June period, eased…

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Coronavirus outbreak: Govt asks public, private hospitals to set aside beds as cases rise | India News

NEW DELHI: The Centre issued an advisory on Friday to all hospitals and medical education institutions — both public and private — asking them to set aside beds, prepare isolation facilities, procure sufficient numbers of ventilators, high-flow oxygen mass and mobilise additional manpower to step up combat readiness to take on Covid-19. The measures come as cases continue to rise, though they are still not a surge or a spike, and reflect the government’s assessment that the healthcare system needs to be ready for a contingency of a large number…

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Corona outbreak now a ‘notified disaster’ | India News

NEW DELHI: With reports of confirmed coronavirus positive cases from states now touching 100 including two deaths (health ministry figures put the number of cases at 84), government on Saturday decided to treat the incidence of Covid-19 as a ‘notified disaster’ for the purpose of providing assistance for medical facilities under the State Disaster Response Fund (SDRF). It also suspended all types of passenger movements on Indo-Pak border from March 16. On Friday, the government had announced that passenger traffic will be allowed only through 19 land check posts of…

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