The Covid-19 outbreak has taken a toll on everything from airlines to hotels, all the way down to my local wan tan mee store owner.
In response, the Singapore government has revealed a $4.0 billion stabilisation and support package specifically targeted at the industries that have been the most negatively impacted by the outbreak.
The size of the package suggests that the economic impact has been significant.
And yet, life must go on.
As the virus containment efforts continue in the background, businesses and the general public are starting to adapt.
When hand sanitisers ran out of stock, enterprising individuals started videos on how to make your own sanitisers at home. Several stores now offer hand sanitisers to keep your hands clean.
Meanwhile, taxi operator ComfortDelGro Corporation Limited (SGX: C52) stepped up to offer sizable rebates to taxi drivers that have seen their daily takings decline by a quarter or more.
Retailers at Changi Airport are also receiving a 50% rebate for a period of six months to tide over this difficult period.
In short, businesses are adapting to the challenge.
And thus, life goes on. As humans, we adapt and adapt again.
As investors, the economic impact caused by the Covid-19 virus may cause us to fear that a market crash is just around the corner. But fear not, for here is Warren Buffett with some words of wisdom.
Meanwhile, Royston Yang distills the massive Singapore budget announcement down into something that investors are looking out for — which companies and industries are likely to benefit the most.
Over the next decade, inflation may prove to be a bigger beast to tackle compared to Covid-19. Royston Yang suggests three companies that offer higher dividends compared to the CPF Ordinary Account’s 2.5% interest rate.
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