The Financial Express

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Recovery hopes dashed for India's recession-hit economy

REUTERS 2020-08-28 13:07:40

India’s deepest recession on record will linger through the rest of this year and begin to lift only in early 2021 as a rapid surge in the coronavirus spread squelches a nascent rebound in consu...

Swiss government sees GDP turning positive in Q3

Reuters 2020-08-27 16:06:32

Switzerland’s COVID-19 battered economy will return to growth in the third quarter (Q3) compared with the second quarter, a government economist said on Thursday, citing a better than expected r...

ESCAP, Switzerland to partner for disaster relief in Asia Pacific

FE Online Desk 2020-08-27 14:25:28

The Government of Switzerland has pledged USD 300,000 in contributions for the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) Multi-Donor Trust Fund for Tsunami, Disast...

US economy could degrade to "no growth at all" without Covid-19 relief bill: Economists

-- 2020-08-26 15:10:52

The US economy could degrade to "no growth at all" if Congress fails to pass the next Covid-19 relief bill, two renowned American economists warned on Tuesday. "If senators still fail to resolve stal...

Global Markets: Stocks steady, bonds sold as markets turn to Jackson Hole

REUTERS 2020-08-26 13:00:38

Bonds sold off and stocks took a breather on Wednesday as investors waited to hear from the Federal Reserve about its next moves to support the US economic recovery, while oil jumped to a five-month p...

Asia-Pacific govts meet to modernise official statistics to ensure no one is left behind

FE Online Desk 2020-08-25 14:44:45

The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) will bring together senior statisticians, government officials and leading experts this week to review how official s...

Global tourism lost $320 billion in five months from virus: UN

-- 2020-08-25 12:58:13

The tourism global industry has been devastated by the coronavirus pandemic, with $320 billion lost in exports in the first five months of the year and more than 120 million jobs at risk, the UN chief...

Nepal sees record high forex reserves in FY 2019-20

-- 2020-08-25 12:24:27

Nepal reported the record high foreign exchange reserves in the last fiscal year 2019-20 that ended in mid-July as the country's import slumped amid Covid-19 and less-than-estimated decrease in remitt...

Malaysia's latest economic index shows sign of recovery in H2

-- 2020-08-24 14:12:02

Malaysia's leading index grew at a faster pace in June, rising 4.5 per cent year on year, signaling an economic recovery in the second half, said its statistics department Monday. Malaysian Statistic...

Economic crisis caused by COVID-19 "most synchronised" in history, says economist

Xinhua 2020-08-23 16:29:31

The economic crisis caused by the novel coronavirus pandemic is the "most synchronized" in history and its prospects of recovery is quite uncertain, Colombian economist Jose Antonio Ocampo said on Sat...

China's garment industry sees lower revenues in H1

-- 2020-08-22 14:06:55

China's garment industry registered shrinking revenues and profits in the first half of the year, but the decline was narrower, data from the Ministry of Industry and Information Technology (MIIT) sho...

South Korea's foreign debt grows to $503.1b in Q2

-- 2020-08-20 16:22:13

South Korea's foreign debt grew in the second quarter (Q2) as foreigners bought local state bonds, the finance ministry said Thursday. The country's foreign debt amounted to 503.1 billion US dollars...

India faces protracted slowdown as virus clouds rural revival

REUTERS 2020-08-20 13:29:42

India is staring at a protracted slowdown as coronavirus cases reach its countryside, with signs of recovery in the rural economy hailed by Prime Minister Narendra Modi “at best a mitigating fac...

Taiwan aims to become Asian financial hub

-- 2020-08-19 13:32:01

Taiwan will further liberalise its economy and offer more financing products, aiming to become an Asian financial and asset management hub, President Tsai Ing-wen said on Wednesday, pitching the islan...

Asian shares jump to seven months high

-- 2020-08-19 12:01:47

Asian shares jumped to a seven-month peak on Wednesday tracking the S&P 500, which scaled all-time highs driven by ever-expanding policy stimulus aimed at cushioning the blow to economies from the...

Malaysia's inflation declines 1.3pc in July

-- 2020-08-18 14:35:52

Malaysia's inflation, measured by consumer price index (CPI), declined 1.3 per cent year-on-year in July, official data showed Tuesday. The Malaysian Statistics Department said in a statement that th...

Egypt's unemployment rate up to 9.6pc in Q2

-- 2020-08-18 12:06:09

Egypt's unemployment rate rose to 9.6 per cent in the second quarter of 2020 from 7.7 per cent in the previous quarter of the year due to the coronavirus outbreak, the state-run statistics agency has...

Europe stuck on the ground as China markets jump

REUTERS 2020-08-17 16:11:03

Shares crept back toward recent peaks on Monday as Chinese markets swung higher, while investors waited to see if the recent sell-off in longer-dated US Treasuries would be extended and perhaps take s...

Thailand suffers biggest economic slump since 1998

REUTERS 2020-08-17 15:36:39

Thailand’s economy suffered its biggest annual contraction since the Asian financial crisis in the second quarter due to the fallout of the coronavirus, prompting the government to slash its GDP...

Asia shares push ahead as China markets jump

REUTERS 2020-08-17 13:21:36

Asian shares crept back toward recent peaks on Monday as Chinese markets swung higher, while investors waited to see if the recent sell-off in longer-dated US Treasuries would extend and maybe take so...

Singapore's non-oil domestic exports grows by 6pc on year in July

-- 2020-08-17 12:36:43

Singapore's non-oil domestic exports (NODX) grew by 6.0 per cent year on year in July, after the revised 13.9 per cent increase in the previous month, Enterprise Singapore, a government agency, announ...

Japan's economy shrinks at record pace as pandemic wipes out 'Abenomics' gains

REUTERS 2020-08-17 09:59:55

Japan was hit by its biggest economic contraction on record in the second quarter as the coronavirus pandemic crushed consumption and exports, keeping policymakers under pressure for bolder action to...

S Arabia inflation jumps to 6.1pc in July

-- 2020-08-16 14:47:05

Saudi Arabia’s consumer price index jumped 6.1 per cent in July compared with a year earlier, boosted by a tripling of value-added tax, official data showed on Sunday. The inflation rate in Jun...

India to inject $1.46t to turnaround virus-hit economy

-- 2020-08-15 20:22:50

India’s prime minister said Saturday his country has done well in containing the coronavirus pandemic and announced $1.46 trillion in infrastructure projects to boost the sagging economy, report...

Malaysia's economy contracts 17.1pc in second quarter

-- 2020-08-14 16:48:33

The Malaysian economy contracted 17.1 per cent year on year in the second quarter (Q2), the worst slump since the fourth quarter of 1998, official data showed Friday. Malaysian Central Bank, Bank Neg...

Indonesia must use pandemic to reboot S Asia’s biggest economy: President

-- 2020-08-14 10:41:29

Indonesia must use the pandemic to reboot Southeast Asia’s biggest economy, including by improving food and energy security, as well as processing more natural resources at home, President Joko...

In China, fears of financial Iron Curtain as US tensions rise

REUTERS 2020-08-13 15:02:02

A sharp escalation in tensions with the United States has stoked fears in China of a deepening financial war that could result in it being shut out of the global dollar system - a devastating prospect...

German cos see business returning to normal in 11 months

Reuters 2020-08-13 14:50:39

German companies expect business to return to normal in an average of 11 months, the Ifo economic institute said on Thursday. For companies in the services sector, that number is even higher, at 11.7...

Chinese banks expected to dispose $490 billion of bad loans in 2020

-- 2020-08-13 13:57:09

China’s banking industry is expected to dispose 3.4 trillion yuan ($489.91 billion) of bad loans in 2020 to contain financial risks in an economy weakened by Covid-19, according to a Xinhua repo...

Australian unemployment hits 22-year high

-- 2020-08-13 12:26:56

The number of unemployed Australians actively looking for work has surpassed 1.0 million for the first time. According to data released by the Australian Bureau of Statistics (ABS), which is in Canbe...