(Bloomberg) —
India surpassed China in the number of coronavirus cases, making it Asia’s latest hot spot, while Italy prepared to ease travel curbs in a key step to revive its economy after more than two months of lockdown.
The U.S. House of Representatives passed the Democratic Party’s $3 trillion economic stimulus bill Friday that Republicans and President Donald Trump have already rejected. Trump signaled that the U.S. may resume some funding to the World Health Organization.
Russia reported the most deaths linked to Covid-19 in a day, even as the number of new cases rose by less than 10,000. Fatalities in Belgium exceeded 9,000 and Germany recorded the fewest deaths in 10 days.
Key Developments:
Virus Tracker: Cases top 4.5 million; deaths exceed 308,000India overtakes China in number of infectionsCoronavirus won’t break global supply chains, David Fickling writesSouth Korea infections linked to nightclubs rise by nineU.K. will train sniffer dogs to see if they can detect the virusFederal Reserve warns of ‘significant’ hit to asset prices
Subscribe to a daily update on the virus from Bloomberg’s Prognosis team here. Click VRUS on the terminal for news and data on the coronavirus. See this week’s top stories from QuickTake here.
Scholz Wants Aid for German Cities (10:10 a.m. NY)
German Finance Minister Olaf Scholz is planning a 57 billion-euro ($62 billion) aid package to help municipalities being hit by the economic fallout from the pandemic, a person familiar with the matter said.
The plan, which Scholz announced on Saturday without giving the size of the measures, would help local governments cover outstanding debt and tax shortfalls caused by the pandemic and assist the economic recovery, the person said, asking not to be identified as the information isn’t public.
Trump Signals Partial WHO Funding (10 a.m. NY)
President Donald Trump said U.S. payments to the World Health Organization that he froze last month may return at 10% of the existing level. Trump said the cut is one of numerous options he’s considering. A cut to 10% would match “much lower China payments,” Trump said in a tweet responding to broadcaster Lou Dobbs. “Have not made final decision. All funds are frozen,” Trump said.
The president instructed his administration in mid-April to temporarily halt WHO funding because the United Nations agency took China’s claims about the coronavirus “at face value” and failed to share information about the pandemic as it spread. The U.S. has contributed $893 million to the WHO’s operations during its current two-year funding cycle.
U.K. Cases Increase (9:52 a.m. NY)
In the U.K., the number dead rose to 34,466 after another 468 fatalities were announced Saturday, compared to 384 a day earlier. The total number of cases increased to 240,161.
Portugal Urges Shopping in Lisbon (8:56 a.m. NY)
“Stores are ready to welcome people,” Portuguese Prime Minister Antonio Costa said on Saturday during a visit to one of the main shopping streets in downtown Lisbon. “We were very disciplined about staying at home to contain the pandemic. But now we have to take the next step. With the same determination we had to lock down, we now have to go out again and seek to resume normality in our life in a new way and with precautions.”
The second stage of Portugal’s plan to ease confinement measures starts on May 18, when restaurants will be allowed to reopen with capacity limited to 50%. Portugal reported 227 new coronavirus cases on Saturday, down from 264 on Friday, taking the total to 28,810, the government said. The total number of deaths rose by 13 to 1,203.
100 Days to Republican Convention (8:40 a.m. NY)
The Republican Party said it’s moving ahead with plans for the 2020 convention starting in Charlotte on Aug. 24.
“Our team has continued to take meaningful steps to demonstrate our commitment to ensuring the health and safety of convention participants,” Marcia Lee Kelly, president and CEO of the convention’s Committee on Arrangements, wrote in an opinion piece on Fox Business.
Zimbabwe Extends Lockdown Indefinitely (8:30 a.m. NY)
Zimbabwe President Emmerson Mnangagwa extended the country’s coronavirus lockdown for an indefinite period, a day before the current restrictions were scheduled to end.
“We shall have regular two-week interval reviews to assess progress or lack of it,” he said Saturday on the Zimbabwe Broadcasting Corporation. “This should give us more time to strengthen the prevention and case management approaches for the various risk populations.”
The southern African nation had 42 confirmed cases of the coronavirus, according to data from the health ministry on Friday. The wearing of face masks in public places is mandatory and commercial activity for registered businesses is allowed.
Hungary to Ease Budapest Lockdown (8:19 a.m. NY)
Hungary will start the gradual easing of lockdown measures in Budapest from Monday, following similar steps announced for the countryside two weeks ago.
The country has successfully contained the spread of the coronavirus even in the more densely populated capital, Prime Minister Viktor Orban said in a Facebook video on Saturday. Further easing in Budapest will track the countryside with a two-week lag, where restaurants have already been allowed to reopen outdoor areas.
Kenya Shuts Border With Somalia, Tanzania (8:19 a.m. NY)
The move is meant to curb cross-border infections which totaled 43 this week, accounting for about a quarter of total new cases, President Uhuru Kenyatta said in televised address. All truck drivers entering Kenya will be required to undergo mandatory coronavirus testing, and will only be allowed into the country if they test negative, the president said.
A nationwide dusk-to-dawn curfew and a ban on movement into and out of the capital Nairobi and four other counties has been extended by a further 21 days to June 6. The country has 830 total cases.
Thailand Extends Flight Ban to June 30 (8:16 a.m. NY)
The ban on international commercial flights to Thailand that was supposed to end on May 31 will be extended for another month, the Civil Aviation Authority of Thailand said in a statement published on Saturday. The ban doesn’t apply to state or military aircraft, emergency landings, humanitarian aid and repatriation and cargo flights.
Spain New Infections Slow (7:30 a.m. NY)
Spain recorded 102 coronavirus deaths in the last 24 hours from 138 deaths reported on Friday, according to data from the Health Ministry. New infections increased by 539 to 230,698, compared to 549 the previous day.
Iran to Start Reopening After Ramadan (5:10 p.m. HK)
Iran will allow restaurants to reopen and sporting competitions to resume without spectators when the holy month of Ramadan ends over a week from now, President Hassan Rouhani said on state TV. The country’s holy shrines, which are currently shut due to the pandemic, will let pilgrims into their courtyard for limited hours every day after the end of Ramadan, while students can return to universities starting June 6 for the first time since late February.
Iran, which has the Middle East’s highest number of coronavirus deaths and infections, will also allow communal prayers to be held in small crowds on the Eid-al-Fitr holiday that marks the end of a month of fasting.
Iran reported its lowest daily fatalities from the coronavirus since March 7 with 35 deaths in the past 24 hours, raising the total death toll to 6,937. The total number of infections reached 118,392 as 1,757 people tested positive for the virus since Friday.
Belgian Death Toll Passes 9,000 (5:02 p.m. HK)
The death toll from the pandemic in Belgium passed 9,000, authorities said Saturday. Another 47 people died from the illness in the past 24 hours, bringing the total to 9,005.
Relative to its population, Belgium has by far the highest fatalities in the world from the respiratory disease. But with the number of patients in intensive care units continuing to drop, and well below the health system’s capacity, the government has been gradually lifting its lockdown, with further easing steps due to take effect on Monday.
French Minister Says Vaccine to Take Time (4:51 p.m. HK)
Accelerated clinical trials are raising hopes that a vaccine against the coronavirus will be available in about 18 months, according to Frederique Vidal, French minister for higher education, research and innovation.
Developing a vaccine “usually takes a few years,” she said in an interview Saturday on Europe 1 radio. “It’s not reasonable to think we can go faster than that, except by taking safety risks on people, and that’s impossible.”
Russia’s Deadliest Day (4:12 p.m. HK)
Russia reported an additional 9,200 confirmed coronavirus cases in the past day, the lowest increase since May 1, to reach a total of 272,043. It also recorded 119 deaths, the largest single-day increase to date, to reach 2,537 so far.
Of the new cases, 44.8% were asymptomatic, according to the data compiled by the Russian government’s virus response center. The number of recoveries rose by 4,940 to 63,166.
Travel Curbs in Jakarta (3:45 p.m. HK)
Indonesia’s capital will limit people from entering or leaving the city for business purposes, according to a rule signed by Jakarta Governor Anies Baswedan. An exit-entry document issued by the local government will be required for those traveling for work and will be granted only to people working in 11 business sectors excluded from an existing movement-control order. Trips for diplomatic, law enforcement and logistics and emergency purposes will also need the permit.
German Cases Rise, Deaths Drop (2:48 p.m. HK)
The 13 deaths reported in Germany were the lowest since May 6, when there were no fatalities. Excluding that day, the number is the least since March 19. Total cases rose by 755 to 175,233, a bigger increase than the day before.
South Korea Reports Additional Cases (1:39 p.m. HK)
Nightclub-related cases rose by nine to 162 as of Saturday, with health officials looking for possible spread to other spots in Seoul. More than 56,000 people have been tested in connection with the clubs as of Friday 6 p.m., an official said Saturday. Infections in the country have reached 11,037 as of Friday, with 262 fatalities.
A 104-year-old woman was released from a hospital this week, making her the country’s oldest patient to recover from the disease.
India’s Struggle to Control the Spread (11:08 a.m. HK)
The world’s second-most populous nation now has the 11th-biggest outbreak, according to data compiled by Johns Hopkins University. The surge underscores the limited impact of the countrywide lockdown imposed on March 25 to curb the pathogen. Nearly two months into the world’s most expansive stay-at-home orders, India has not seen its virus curve flattening like Italy or Spain where new cases had begun trending downward sooner. China too managed to contain its outbreak by locking down Hubei, the province where the pathogen first emerged.
India may on Sunday extend its nationwide lockdown by two more weeks until May 31, while easing some curbs on public transport and domestic flights, the Economic Times reported.
PBOC’s Support Pledge (10:49 a.m. HK)
Governor Yi reiterated the need for greater counter-cyclical monetary policy, and vowed to use policies such as re-lending and loan-repayment extensions to help support China’s economy, according to an interview published Saturday by the Qiushi Journal, a Communist Party publication. The PBOC in April reduced the amount of cash that select lenders need to hold in a two-phased process. The second phase, which became effective Friday, would free up about 200 billion yuan ($28 billion) of cash in the financial system.
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