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Some OPEC ministers discuss implementing agreed oil cuts immediately
Some OPEC ministers had a conference call on Tuesday to discuss the oil price rout and possible extra measures to support the market but it took place without the core Gulf nations, highlighting a growing split inside the organisation.
22
UK made a firm decision on Huawei in 5G: foreign ministry's top official
Britain’s government made a firm decision to allow China’s Huawei to have a role in building the country’s 5G phone network and as far as the foreign ministry’s top official understands it is not being reopened, he said on Tuesday.
22
Boris Johnson, feeling better, agrees with Trump on need to reopen economies
U.S. President Donald Trump and British Prime Minister Boris Johnson agreed on the need for a coordinated international response to the coronavirus pandemic, Downing Street and the White House said in separate statements on Tuesday.
21
South Korea says Kim not gravely ill after heart surgery reports
Speculation on Kim' Jong Un's health increased after he was absent from pictures to mark a recent important anniversary.
21
US companies face bankruptcy as oil prices turn negative
The coronavirus pandemic has hit the US oil industry particularly hard. Oil prices have not been this low in history, and are forcing businesses and companies to file for bankruptcy, reports CNN.
21
Fitch Downgrades Hong Kong to 'AA-' from 'AA'; Outlook Stable
Fitch Ratings - Hong Kong - 20 Apr 2020: Fitch Ratings has downgraded Hong Kong's Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'AA-' from 'AA'. The Outlook is Stable.
17
China GDP sinks 6.8%, first contraction on record
China's economy plummeted 6.8% in the first three months of the year compared with a year earlier, the country's first such drop since Beijing began reporting quarterly gross domestic product in 1992.
17
Gilead's remdesivir looks promising in leaked early results, but don't jump to conclusions: analyst
The world is watching and waiting for data to see whether Gilead's investigational antiviral remdesivir can help fight COVID-19. And while some leaked early results suggest that it can, industry watchers will need to wait for data from Gilead's own controlled phase 3 study to know for sure.
15
S. Korea, China, Japan, ASEAN seek joint fund for medical supplies in summit deal
The leaders of South Korea, China, Japan and ASEAN member states have agreed to push for a joint fund for medical supplies against pandemics like COVID-19, according to their joint statement released Wednesday.
15
Slump in China's exports, imports eases in March
China's exports and imports slowed their declines in March after plunging in the previous two months, but a sure-footed recovery in trade looks to be months away as the coronavirus outbreak shuts down many economies and sharply lowers global demand.
9
Russia will discuss with the OPEC+ reducing its production by 14%
Russia will discuss reducing oil production by 14% – in proportion to the share in total production of countries that will agree to stabilize prices. The deal may include the United States, Mexico, Norway, Canada, and others with a total production of 70 million barrels in the day.
9
Hong Kong set out new HK$137.5bn relief plan, including employee salary subsidies and MTR fare cuts
The Hong Kong government has announced a new HK$80 billion subsidy package to help employers retain and pay staff members. The scheme is part of a HK$137.5 billion relief fund to aid citizens and business as the city’s economy is hit by the coronavirus outbreak.
8
Mnuchin: President Trump considers reopening some areas of U.S.; will seek additional $250 billion in small business relief from Congress by Friday
Steven Mnuchin speaks in the press briefing room with Donald Trump, Mike Pence and Administrator Jovita Carranza of the Small Business Administration during the Coronavirus Task Force briefing on April 2. Americans have filed 10 million unemployment claims in the past two weeks, according to Forbes.
8
SMIC (00981.HK) Revises Up 1Q20 Revenue Growth, GM Guidance to 6%-8%, 25%-27%
SMIC (00981.HK) announced an upward revision of its revenue and gross margin guidance for the three months ended 31 March 2020, which was originally released on 13 February.
8
Former Fed chief Bernanke sees bad year, no quick recovery
The U.S. economy could shrink 30% or more this quarter as stay-at-home orders aimed at slowing the coronavirus outbreak choke off business, and it could be a couple of years before the economy regains its footing, former Federal Reserve Chair Ben Bernanke said on Tuesday.
7
Rebel shareholders demand HSBC revive dividend and slash management pay
Incensed by HSBC’s decision to cancel its dividend at the request of regulators last week, a group of more than 3,000 investors in Hong Kong demanded on Monday that the lender reinstate its final payout for 2019 and instead eliminate compensation for top management for a year.
7
Trump says OPEC has not asked him for a U.S. oil production cut
President Donald Trump said on Monday that OPEC had not pressed him to ask U.S. oil producers to reduce their output to support global prices, which have been hard-hit by the economic fallout of the coronavirus pandemic.
7
Japan set to announce coronavirus emergency, finalise near $1 trillion stimulus
Japanese Prime Minister Shinzo Abe is set to announce a state of emergency on Tuesday for the capital Tokyo and six other prefectures to stem a worrying rise in coronavirus infections in major population centres.
6
Spain's PM pleads with EU for 'coronabonds' crisis funding
Spanish Prime Minister Pedro Sanchez urged the EU Sunday to issue "coronabonds," controversial pooled debt instruments to help the bloc's hardest hit countries fund their battle against the devastating economic impact of the pandemic.
6
Japan PM Abe to declare state of emergency amid surge in virus infections
Prime Minister Shinzo Abe intends to declare a state of emergency over the coronavirus outbreak in Japan, a government official said Monday, as a recent surge in infections sweeps Tokyo and other major cities.