Employees at the Volkswagen assembly line in Wolfsburg, Germany. Volkswagen reported a nearly 50% drop in its 2020 adjusted operating profit on Friday. File/Reuters
Stocks rebounded on Tuesday, with Washington’s approval of an $892 billion pandemic relief package helping them recover some of the losses caused by fears over a highly infectious new strain of COVID-19.
Global shares stumbled on Friday as hopes of a fiscal boost from a $1.9 trillion US stimulus plan were smothered by the prospect of stricter lockdowns in France and Germany and a resurgence of COVID-19 cases in China.
The aid package includes $415 billion to bolster the response to the virus and the rollout of COVID-19 vaccines, some $1 trillion in direct relief to households, and roughly $440 billion for small businesses and communities particularly hard hit by the pandemic.
British Prime Minister Boris Johnson said on Sunday his government would iron out what he described “technical issues” with the European Union over post-Brexit trade.
The UAE has made significant progress in its mission to empower women in the workforce across various sectors and the nation’s women can today be classified as role models for the rest of the world.
China’s February exports grew at a record pace from a year earlier when COVID-19 battered the world’s second-biggest economy, customs data showed on Sunday, while imports rose less sharply.