Search results for: Global

European tourism industry sees partial recovery amid pandemic

-- 2020-11-26 13:36:32

The European tourism industry only partially recovered amid the COVID-19 pandemic, as the contraction of the tourist accommodation sector moderated in summer, according to a Eurostat report. The Euro...

IMF chief says add’l monetary stimulus may pose risks to financial stability

-- 2020-11-25 13:23:52

International Monetary Fund (IMF) Managing Director Kristalina Georgieva has said that additional monetary stimulus may pose important risks to financial stability, urging fiscal policy to play a sign...

Elon Musk overtakes Bill Gates to become world's second-richest person

-- 2020-11-24 19:13:03

Tesla Inc Chief Executive Officer Elon Musk has toppled Microsoft co-founder Bill Gates as the world’s second-richest person. Elon Musk overtook Facebook’s Mark Zuckerberg to become the t...

Sri Lanka to open $250m tire factory in 2021

-- 2020-11-23 14:16:59

A 250-million-US-dollar tire manufacturing plant in Sri Lanka's western town of Horana is scheduled to open in January 2021, local media reported on Monday. The factory built by the Rigid Tyre Cor...

Singapore narrows 2020 GDP growth forecast to -6.5 to -6pc

-- 2020-11-23 12:38:37

Singapore's Ministry of Trade and Industry (MTI) has said that it narrowed the gross domestic product (GDP) growth forecast for 2020 to "-6.5 to -6 per cent" from "-7 to -5 per cent." The ministry on...

Asian shares gain on vaccine rollout hope

REUTERS 2020-11-23 11:46:47

Asian shares climbed on Monday, with a broad regional index touching a record high on hopes for imminent coronavirus vaccines, but worries over the impact of economic lockdowns and uncertainty over US...

Taiwan's manufacturing output decline again

-- 2020-11-22 15:17:54

The production value of Taiwan's manufacturing industries totaled 3.2 trillion new Taiwan dollars (about 112 billion US dollars) in the third quarter of this year, down 4.56 per cent year on year, acc...

G20 leaders vow to help poorer countries in post-Covid world

-- 2020-11-22 11:24:39

Leaders of the 20 biggest economies on Saturday vowed to ensure a fair distribution of Covid-19 vaccines, drugs and tests around the world and do what was needed to support poorer countries struggling...

G20 leaders to discuss post-Covid recovery plan

REUTERS 2020-11-21 13:03:33

Leaders of the 20 biggest world economies (G20) will debate this weekend how to deal with the unprecedented Covid-19 pandemic that has caused a global recession and how to manage the recovery once the...

Japan's core consumer prices falls at sharpest pace in nine years

-- 2020-11-20 15:58:56

Japan's leading gauge of inflation fell at the fastest pace in October in more than nine years, owing to a domestic tourism-boosting subsidy programme and weak energy prices amid the Covid-19 pandemic...

Trump, Xi to meet at virtual Asia Pacific forum

REUTERS 2020-11-20 11:25:48

US President Donald Trump and his Chinese counterpart Xi Jinping will attend a virtual summit of Asia Pacific leaders on Friday to discuss the coronavirus and global economic recovery, with lingering...

‘Economic recovery losing momentum with resurging infection rates’

-- 2020-11-19 21:34:05

The global economy is recovering from the depths of the coronavirus crisis, but there are signs of slowing momentum in countries with resurging infection rates, the International Monetary Fund said in...

World stocks ease further from highs, oil dips on COVID-19 count

Reuters 2020-11-19 19:51:48

Positive news about possible vaccines had helped push the MSCI World Index to a record high earlier in the week, but investors pulled back as a host of countries announced record infection rates and t...

Asia-Pacific leaders eye free trade with US under Biden

REUTERS 2020-11-19 15:28:11

Asia-Pacific leaders called on Thursday for open and multilateral trade to support a global economy battered by the novel coronavirus, and some hoped for more engagement with the United States under a...

India mulls easing investment rules for neighbours, including China: Report

REUTERS 2020-11-17 15:02:48

India is considering a plan to allow up to 26 per cent foreign direct investment from countries with which it shares a land border, including China, without government scrutiny for some sectors, the E...

ADB allocates over $20m to help developing members access Covid-19 vaccines

-- 2020-11-17 12:33:23

The Asian Development Bank (ADB) said on Tuesday that it had allocated 20.3 million US dollars in technical assistance to help its developing members access vaccines for coronavirus (Covid-19) and est...

Asian stocks ride high on Covid-19 vaccine hopes

REUTERS 2020-11-16 11:35:18

Asian stocks hit a record high on Monday as vaccine optimism and strong economic data from China and Japan outshone worries about rising coronavirus cases, lifting just about every sector. MSCI's bro...

Asia forms world's biggest trade bloc

Reuters 2020-11-15 19:30:12

Fifteen Asia-Pacific economies formed the world's largest free trade bloc on Sunday, a China-backed deal that excludes the United States, which had left a rival Asia-Pacific grouping under President...

Iran’s trade with Europe hits $8.8b in 7 months

-- 2020-11-15 12:53:13

The value of bilateral trade between Iran and the European countries reached 8.8 billion US dollars from March 20 to Oct. 21, Ruhollah Latifi, spokesperson for Iran's Customs Office announced on Satur...

Thailand aims to produce 4.9m tonnes of natural rubber this year

-- 2020-11-14 16:09:39

Thailand is expected to produce some 4.9 million tonnes of natural rubber throughout this year, said Rubber Authority of Thailand (RAOT) Governor Nakorn Tangavirapat on Saturday. Of the total natural...

Malaysia's economy records smaller contraction of 2.7pc in Q3

-- 2020-11-13 15:06:28

Malaysia's economy decreased at a slower pace of 2.7 per cent in the third quarter from the double-digit decline of 17.1 per cent in the second quarter of 2020, said its central bank on Friday. Bank...

Trump bans US investments in Chinese firms with military ties

Reuters 2020-11-13 12:26:36

The Trump administration on Thursday (US standard time) unveiled an executive order prohibiting US investments in Chinese firms that Washington says are owned or controlled by the Chinese military, ra...

ASEAN summit kicks off virtually, highlights post-Covid-19 recovery

-- 2020-11-12 13:17:10

The Association of Southeast Asian Nations (ASEAN) has opened its 37th summit under the chairmanship of Vietnam via video conference, with focus on recovery from coronavirus (COVID-19) and the role of...

US Fed warns of financial risks as coronavirus persists

-- 2020-11-10 15:19:45

The US Federal Reserve has warned of a potential decline in asset prices and other financial risks as the coronavirus (Covid-19) pandemic and recession persists. "Given the high level of uncertainty...

Vietnam's rice export up in 10 months

-- 2020-11-09 14:48:48

Vietnam reaped over 2.6 billion US dollars from exporting nearly 5.3 million tons of rice in the first 10 months of this year, up 8.2 per cent in value and down 4.0 per cent in volume year on year, ac...

US Fed keeps interest rates near zero amid election uncertainty

-- 2020-11-06 17:31:16

The US Federal Reserve has kept its benchmark interest rate unchanged at the record-low level of near zero amid uncertainty about the final result of the presidential election. "Economic activity and...

Japan to open English-speaking support office to lure foreign investments

Reuters 2020-11-06 12:09:18

Japan will open an English-speaking support office for foreign asset management firms seeking to do business in the country in January, Finance Minister Taro Aso said on Friday, as it aims to boost th...

World Bank-IMF annual meetings in 2021 postponed due to pandemic

-- 2020-11-06 11:57:12

The World Bank Group and the International Monetary Fund (IMF) on Thursday announced that the planned annual meetings scheduled to take place in Morocco in October 2021 will be postponed by 12 months...

BoE ramps up stimulus by another 150b pounds

Reuters 2020-11-05 14:39:57

The Bank of England (BoE) increased its already huge bond-buying stimulus by a bigger-than-expected 150 billion pounds ($195 billion) as it sought to cushion Britain’s struggling economy against...

Wall Street firms crave certainty about US election, hope for quick stimulus

Reuters 2020-11-04 23:00:10

With the US presidential election turning into a nail-biter, bankers, traders and financial analysts told Reuters on Wednesday that Wall Street was worried the ultimate winner could have tough sleddin...