Today In Payments Around The World: Europe Mulls Extending Pandemic Lockdowns; Singapore’s Economy Performs Better Than Expected Amid Pandemic
In today’s top payments news around the world, Germany is getting ready to continue its nationwide lockdowns through the end of January, while Singapore’s economy contracted at a 5.8 percent in 2020 — below the government’s past forecast of 6 to 6.5 percent. Plus, MGM Resorts International is reportedly seeking to purchase Entain.
Germany is reportedly getting ready to continue its countrywide lockdowns through the conclusion of January. Governments throughout the continent are fighting to keep control over evolving strains of the coronavirus, which are more contagious. In France, the government has transitioned to a nightly curfew in 15 departments in the east and southeast back from 8 p.m. to 6 p.m.
The economy of Singapore contracted 5.8 percent last year, which was better than the government’s past forecast of a 6 to 6.5 percent drop. The city-state put into place strict lockdown measures last April in response to the coronavirus pandemic but started lifting them in June. Singapore’s economy contracted 3.8 percent for Q4 in contrast to the previous year.
MGM Resorts International is reportedly aiming to buy Entain, which is the U.K. parent of online gambling player Ladbrokes. Online gaming already was an increasing threat to MGM and other physical casino operators before the pandemic forced the closing of gambling halls. Ladbrokes allows users to bet on a broad assortment of sports such as soccer and baseball, among others.
ICICI Lombard, the private insurer, has launched its new websites for small and medium-sized businesses (SMBs) in Mumbai to purchase or renew insurance. “The new interface will serve as a convenient platform for SME owners to buy or renew insurance products, endorse their insurance policies, and register claims,” the insurer said in a statement.