Singapore’s manufacturing falls to lowest level since 2009

Singapore (VNA) – Singapore’s Purchasing Managers’ Index (PMI) declined 3.3 points to 45.4 in March, the lowest level since 2009, said the Singapore Institute of Purchasing and Materials Management (SIPMM). It was the second contraction in a row and the lowest reading since February 2009 when the index was at 45 points, SIPMM said in […]

Coronavirus lockdown: Flipkart CEO says no salary cuts for staff, including interns

“A crisis is a great time to show your statesmanship, commitment and character. This is the time to contribute to nation building…We are honouring all commitments, campus placements and also looking at innovative ways of virtual inductions and onboarding,” he was quoted as saying.

Three Indians among 42 new coronavirus cases reported in Singapore

SINGAPORE: Three Indian nationals were among the 42 new coronavirus cases reported in Singapore on Sunday, taking the total number of infections in the country to 844, according to the Ministry of Health. Of the new cases, 24 are imported and have a travel history to Europe, North America, Middle East, ASEAN and other parts […]

Acko, Bounce, MakeMyTrip, others hardest hit by Covid-19 turn to layoffs, salary cuts

Bengaluru: Startups have started laying off staff and, in some cases, asked employees to take pay cuts as they look for ways to weather the impact of the coronavirus outbreak, according to employees of various firms who spoke to ET. Companies, however, cited that such measures are mainly to keep businesses running as there is […]

PetroVietnam cuts salaries to cope with coronavirus, low oil prices

HANOI (Reuters) – Vietnam Oil and Gas Group is cutting employee salaries to rein in costs as it grapples with low oil prices and a coronavirus pandemic that has infected 212 people in the southeast Asian nation, the company said on Wednesday.

FabHotels lays off over 100 employees, to cut up to 20% salary

New Delhi: Budget hotel chain FabHotels has laid off over 100 of its employees as a result of its ‘resource optimization’ exercise.According to an impacted employee, over 100 employees of the company are being laid off mainly from operations, tech, sales and supply acquisition teams. A letter by the company to a sacked employee said […]

Coronavirus impact | Restaurants, cinemas, retailers request rental waivers till May: Report

“Yes, we have written to the owners of the premises seeking waiver of lease rent from March till at least May 2020. With likelihood of improvement being remote for several months, support from owners is very crucial for survival; it is most critical to manage cash flow and staff salaries,” said Anjan Chatterjee, founder of […]

Asia Gold-Demand soars in some hubs, lockdowns, supply woes hit others

BENGALURU/MUMBAI, April 3 (Reuters) – Physical bullion markets in major Asian hubs saw a sharp divide this week with some regions seeing a surge in demand, while others grappled with strained supply and muted activity amid global lockdowns due to the coronavirus.

Gold demand soars in some Asian hubs, lockdowns, supply woes hit others

“It’s just a lot of strange things happening in the market now, because in some parts of the world, you will see massive premiums on gold, while other parts have discounts – just boils down to logistics and supply chain disruptions,” said Saxo Bank analyst Ole Hansen.

Jet Airways vows to cut costs, sell stake in loyalty program

by Anurag Kotoky Troubled carrier Jet Airways India Ltd. said it will sell a stake in its loyalty program and cut as much as 20 billion rupees ($285 million) in costs over the next two years as part of a turnaround plan after years of losses in a competitive aviation market. Announcing the biggest quarterly […]