Brief economic corona news from December 10
FHI, Federation of Technology Industries – December 10, 2020
- The RIVM reports 8793 new corona infections on Thursday, 2210 more than Wednesday. There are 198 new corona patients admitted to hospital, four more than Wednesday.
- The European Central Bank has decided to extend the PEPP purchase program by nine months until at least March 2022. The ECB is also pumping an additional 500 billion euros into the PEPP program. With the extra money and a longer term, the ECB hopes to boost the European economy, writes the FD.
- ING will provide 1.1 billion euros in new loans to small and medium-sized businesses. This is made possible by the European Investment Bank (EIB) guaranteeing 800 million euros in existing ING loans. A significant portion of the loans will have a very low interest rate, so promises ING.
- TUI, the largest travel organization in the world, has recently broken financial year posted a loss of 3.1 billion euros. Turnover also fell by 58 percent. Nevertheless, TUI is optimistic about the coming year due to the arrival of corona vaccines.
- The average daily production of Dutch industry was 3.7 percent lower in October than in October 2019. The production of the machinery industry in particular fell sharply, reports CBS.