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The European Union gave the go ahead on Monday to a British scheme to provide a £50 billion (57-billion-euro) "umbrella" to shield private businesses from the coronavirus epidemic.
The United Kingdom left the bloc at the end of January, but EU law still applies until the end of a post-Brexit transition period, and would normally restrict state subsidies.
But Brussels has promised to show "full flexibility" in its rules as capitals scramble to shore up employers pummelled by the virus and the associated national lockdowns.
Britain has set aside a fund to provide direct grants and subsidised public loans to key businesses and to encourage research into preventing, treating or curing the virus.
In a statement published Monday, the European Commission confirmed that it would give the package the green light, as it done two smaller British schemes announced last month.
On March 23 Britain ordered a three-week shutdown of non-essential shops and services to limit transmission of the virus, which has now killed more than 600 people there.
Similar measures have been adopted across Europe and around the world, and economists see a sharp global recession this year as inevitable.Agence France-Presse
Infections have been reported in 210 countries since the first cases were identified in China in December last year and British aid minister Anne-Marie Trevelyan said assisting the poorest nations now would help prevent the virus returning to the United Kingdom.
Nationwide said its measure of house prices fell by 1.7% last month from April, the biggest decline since February 2009. In annual terms, prices rose by 1.8%, slowing from 3.7% in April.
The United Kingdom has been one of the world's worst-hit areas, with more than 54,000 suspected deaths, though infections have waned and many restrictions are to be lifted across England from Saturday to revive the economy.
Health Secretary Matt Hancock is examining a legislation required for the shutdown after it was disclosed that Leicester, a city of around 350,000 people in the East Midlands, has had over 650 COVID-19 cases in the fortnight to June 16, the newspaper reported.
Victorya Matevossian disclosed that Dubai is one of the safest destinations for travellers in world, adding that around 70% of Armenian tourists have travelled to the ‘City of Wonders’ during the COVID-19 pandemic.
Dr Sultan Bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, met with Sung Yun-mo, Minister of Trade, Industry and Energy of the Republic of Korea
Oil prices rose more than $1 per barrel on Thursday after Saudi Energy Minister Prince Abdulaziz bin Salman urged caution and vigilance at the beginning of a meeting of Opec ministers and their allies about the future of supply cuts.