Congress eyes billions in funding to fight coronavirus

WASHINGTON (AP) - Capitol Hill negotiations on emergency spending to combat the coronavirus outbreak are likely to produce a bill that's double or even triple the $2.5 billion plan requested by President Donald Trump just days ago. Lawmakers and aides involved in the talks say they are proceeding well and are likely to produce legislation in the $6 billion to $8 billion range. Both the Democratic-controlled House and GOP-held Senate are eager to complete work on the measure in the next two weeks. All sides say the $2.5 billion White House coronavirus plan - of which only $1.25 billion would be new funding - is inadequate. And Trump himself appears to be in no mood to pick a fight on the issue with Democratic rivals like House Speaker Nancy Pelosi, D-Calif., or top Senate Democrat Chuck Schumer of New York. "Congress is willing to give us much more than we're even asking for," Trump said Wednesday. "That's nice for a change." On Thursday, Schumer and Pelosi weighed in with a roster of demands, including interest-free loans for small businesses harmed by the outbreak and reimbursements for state and local governments for costs incurred in fighting the coronavirus. Schumer grabbed some headlines Wednesday by outlining an $8.5 billion plan to fight coronavirus, even as he threw his support behind bipartisan talks by the top members of the House and Senate Appropriations committees. "He's prioritized fighting with the White House over simply letting the appropriators do their work," said Senate Majority Leader Mitch McConnell, R-Ky. "'Fortunately, it appears we will have an opportunity to put this cynicism behind us quickly and move forward in a unified way." With both House and Senate taking a recess in two weeks, and U.S. health officials warning the...

South Korea Spends Billions to Blunt Coronavirus’s Economic Impact

South Korea injected more than $13 billion in emergency funds to stoke economic activity sapped by the fast-spreading coronavirus, while a regional government in Japan declared a state of emergency in a bid to contain its own outbreak.

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Business travel industry generates billions

Coronavirus hitting travel industry hard; estimated to cost billions

Hollywood Tech Brace for Billions in Losses Due to Coronavirus

The rapid spread of coronavirus, which has already killed more than 3,000 people and infected as many as 90,000, has gripped a fearful global population and threatens the livelihood of countless wo…

US Poised to Tighten Travel Restrictions Further As Global Coronavirus Threat Looms

International travelers to the United States may soon face more restrictions aimed at curbing the spread of the coronavirus, David Pekoske, the administrator of the Transportation Security Administration, said while speaking before the U.S. Senate Appropriations Committee's homeland security panel

U.S. markets poised for big gains as Joe Biden’s Super Tuesday surge offers coronavirus respite

Vietnam is set to lose billions of dollars due to coronavirus and it's already feeling the impact of the deadly outbreak

Vietnam is feeling the economic impact of the coronavirus in industries from manufacturing to tourism.

Coronavirus vaccine could add billions in value to this one stock

Gilead could be sitting on close to $20 billion in untapped stock market value, provided it has success with a potential new coronavirus vaccine. Oppenheimer analyst Hartaj Singh estimates that a worldwide release of remdesivir — currently in Phase 3 trial for Gilead —could lead to $500 million in yearly “pandemic sales stocking.”

Billions poised to become economic victims of coronavirus

Short Url https://arab.news/zsasn An airline staff member wearing a protective mask stands at U-Tapao Airport, in Rayong, Ban Chang District, Thailand. When multilateral organizations produce economic reports, they generally adorn the front cover with a generic and emotionless photo of an urban center, a thriving factory, or smiling children. A recent report by the Paris-based Organization for Economic Cooperation and Development (OECD) was...