The number of coronavirus infections globally headed toward 800,000. In a positive development, Deutsche Bank analysts noted the global growth in new cases was below 10% for two consecutive days, having exceeded that rate for most of the past two weeks.
The polling was conducted before the U.S. Federal Reserve cut interest rates by a half percentage point to 1.00-1.25% in an emergency move, after G7 finance officials also said on Tuesday they were ready to use all policy tools to safeguard against risks to growth.
The Italian manufacturer MTA, which makes electrical parts for cars, has been forced to close its factory in Codogno after the Covid-19 outbreak in northern Italy. It said the closure would have a knock-on effect on production at Fiat Chrysler’s plants in the country before spreading to other carmakers across Europe.
Here are the latest developments in Asia related to the coronavirus pandemic: – Japan may declare emergency – The Japanese government may declare a state of emergency this week to contain the coronavirus outbreak, media reports said. Prime Minister Shinzo Abe is reportedly set to make the declaration for parts of Japan including Tokyo, as […]
Domestic money has played a major role in the current stock market rally. With not much support from foreign funds, the 4 per cent jump in benchmark indices in May was driven by local funds. After a blip in March 2016, domestic mutual funds witnessed inflow of more than $1.8 billion (Rs 12,344 cr) in […]
A Korean student residing in the United States sparked public uproar after taking fever remedy before flying home late last month. The student was found to have contracted the virus, putting some 20 other people who took the same flight in self quarantine.
TAIPEI (Reuters) – Taiwan’s exports are expected to have decreased 6.74% in March compared with a year earlier, while they had seen a sharp increase in the previous month, due to the impact of the coronavirus, according to a median forecast of 12 analysts polled by Reuters.
Currencies of major oil producers fell in Asia on Monday as oil prices gave up some of their recent gains after Saudi Arabia and Russia postponed to Thursday a meeting about a potential pact to cut production.
In the offshore market, China’s yuan held steady at 7.1134 per dollar after the mainland reported 39 new coronavirus cases on Sunday, all but one of them imported, up from the 30 reported a day earlier. China’s mainland markets are closed Monday for a public holiday.
“The lost production probably will be made up over the remainder of this year. But some service sector activity simply will be lost… people aren’t going to get their hair cut twice because they missed getting it cut in Q1, or buy two coffees to make up for missed consumption.”