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The Federal Reserve’s new Main Street Lending Program for US small and midsize businesses struggling during the coronavirus pandemic more than doubled its loans in the latest week in its largest weekly increase so far.Data released on Thursday by the Fed showed Main Street loans held by the central bank rose by US$131 million to $226 million as of Wednesday from $95 million a week earlier.Under the program, the Fed will buy 95 percent of a loan initiated by a private lender to a qualified business. It has seen limited use since launching last month, but officials have said interest is growing.Boston Federal Reserve President Eric Rosengren, whose bank is managing the program for the Fed system, on Wednesday said that low use of the program early on is not a sign of failure and that more businesses may turn to the facility in the fall if the economy worsens.Topics : read more
In the Philippines, there were threeconfirmed cases of 2019 nCoV ARD, all of them Chinese national from Wuhan,China. One of them died earlier this month at the San Lazaro Hospital inManila. The new novel coronavirus cases in UAE,which were identified through periodic screening of people showing symptoms ofthe disease, are “under observation” and are being given “necessary medicalcare according to the highest health standards applicable in the country.” MANILA – Another Filipino was confirmedto have contracted the 2019 novel coronavirus acute respiratory disease(2019-nCoV ARD) in the United Arab Emirates, its state news agency said in areport on Saturday. The Emirates News Agency reported that aFilipino and a Chinese national were confirmed to have contracted the disease,bringing the total number of infected individuals in the UAE to seven. The UAE Ministry of Health andPrevention said all its health facilities would continue reporting suspectednew cases of the virus, which has been spreading from China since last month. The Filipino from UAE was the secondFilipino to have contracted the new coronavirus outside of the country after aFilipino onboard a cruise ship in Japan also tested positive to the disease. As of Saturday, the novel coronavirushas killed more than 700 people, mostly in China, and infected nearly 35,000.Several countries have enforced restrictions on travel to and from China tocontain the disease./PN read more
Rafael Nadal coped with an on-court intruder and the Paris rain to beat fellow Spaniard David Ferrer and win his eighth French Open title.Nadal, 27, came through 6-3 6-2 6-3 to reaffirm his dominance on clay, and further elevate himself among the greats of the sport.However, the final was marred by a brief protest high in the stands during the second set that was quickly followed by an intruder leaping onto the court while brandishing a flare.Security guards managed to bundle the man to the ground as he approached Nadal, and the player even took care to shake an official’s hand before returning to the action.Nadal immediately dropped his serve, but within an hour he had wrapped up the victory that makes him the first man to win a Grand Slam singles tournament eight times. His 59th match win also takes him past Roger Federer and Guillermo Vilas at Roland Garros, while his 12th major title moves him above Bjorn Borg and Rod Laver on the all-time list. Ferrer, playing in his first major final at the age of 31, was a worthy adversary and pushed his compatriot harder than the score might suggest, but he never threatened an upset.Both men appeared edgy in the early stages, with breaks of serve exchanged in games three and four, but Nadal fired a brilliant cross-court backhand winner to move ahead again at 4-3 and took the set with a third break.Ferrer was making his illustrious compatriot work for his service games and missed an early chance in the second set, before Nadal made him pay with a forehand winner for 2-0.A routine afternoon looked on the cards, but the calm was shattered by chanting from protesters high in the stands during the sixth game of the set.The players paused while the incident was dealt with only for another, potentially more serious, disturbance to follow before the next game when a shirtless man wearing a mask vaulted the flower bed surrounding the court, waving a burning flare above his head. When play resumed, two unsurprisingly distracted service games followed, but Nadal moved two sets clear and looked razor sharp again when a volley put him 2-0 ahead in the third.The increasingly heavy rain now appeared the biggest threat to his ambitions, but Ferrer was not done and got back on level terms before blowing an opportunity to move ahead with a backhand error at 3-3.It was to be Ferrer’s last chance as a double-fault gave up his serve for the seventh time.Nadal moved to match point and cracked a magnificent forehand winner before falling back onto the clay in celebration for an incredible eighth time at Roland Garros. read more