Sweden's economy will grow faster than previously expected this year, the government said on Monday, despite a third wave of COVID-19 infections that has led to tighter restrictions on society.
By Reuters Staff
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ROME, April 12 (Reuters) - Italy’s government is preparing a new stimulus package worth around 40 billion euros ($47.60 billion) to support its coronavirus-battered economy, a source close to the matter said on Monday.
The extra borrowing will probably push this year’s budget deficit above 10% of gross domestic product (GDP), up from 9.5% in 2020 when the economy shrank by 8.9% as a result of the coronavirus curbs, a government source told Reuters last week. ($1 = 0.8403 euros) (Reporting by Giuseppe Fonte, writing by Angelo Amante, Editing by Rosalba O’Brien)
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DUBAI (Reuters) -Abu Dhabi state investor Mubadala invested a record amount in 2020 as it doubled down on growth sectors, and is close to making a decision on the listing of Emirates Global Aluminium, its chief executive said on Monday. “We’ve invested more in 2020 than we have ever done in any one year prior to that,” Khaldoon Khalifa al-Mubarak told a virtual event organised by Bahrain’s Investcorp.
FILE PHOTO: Khaldoon Khalifa Al Mubarak, group chief executive officer of Mubadala Investment Company, speaks at the 2019 New Economy Forum in Beijing, China November 21, 2019. REUTERS/Jason Lee
Mubarak did not disclose the figure, but his comments signalled Mubadala’s investments will exceed the $18.5 billion in 2019 and $19.1 billion in 2018. He said Emirates Global Aluminium, which is owned by Mubadala and Investment Corp of Dubai, is well placed for an initial public offering.
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SYDNEY, April 12 (Reuters) - The Australian dollar opened the week slightly lower on Monday, as investor mood soured following setbacks in the country’s vaccination programme, while the New Zealand dollar was little changed.
The Aussie dollar was down 0.15% at $0.7606, extending Friday’s losses, which were triggered by worries about a slowdown in the country’s coronavirus vaccine rollout.
The currency had consolidated around $0.7650 in recent weeks following a brief run-up to $0.80 earlier this year.
Australia has abandoned a goal to vaccinate nearly all of its 26 million population by the end of 2021 following advice that people under the age of 50 take Pfizer’s COVID-19 vaccine rather than AstraZeneca’s shot.
Demand for the $96 billion in new Treasury notes sold Monday was average, but substantial enough to prevent a jump higher in yields ahead of Tuesday's inflation data.