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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
U.S. banks will likely be allowed to keep paying dividends to shareholders, according to people familiar with the matter, even as the coronavirus pandemic threatens to create a mountain of bad loans that could eventually weaken the lenders.
Malaysia’s economy could contract this year as the country struggles with a month-long coronavirus lockdown and a steep fall in commodity prices.
More than 6.6 million Americans applied for unemployment benefits last week – doubling a record high set just one week earlier – a sign that layoffs are accelerating in the midst of the coronavirus.
Saudi Arabia supports cooperation between oil producers to stabilize the oil market but Russia’s opposition to a proposal last month to deepen oil supply cuts has caused market turmoil, a senior Gulf source familiar with Saudi thinking told Reuters.
China is moving forward with plans to buy up oil for its emergency reserves after an epic price crash, according to people with knowledge of the matter.
The White House on Tuesday projected 100,000 to 240,000 deaths in the United State from the coronavirus pandemic even if current social distancing guidelines are maintained.
HSBC has cancelled the fourth-quarter interim dividend of US$0.21 per ordinary share, citing the current economic uncertainty caused by the COVID-19 pandemic. The dividend was scheduled to be paid on 14 April 2020.
Landlords in premium Hong Kong retail areas are proving flexible on rents as retailers experience an unprecedented drop in sales of between 50–80 per cent during the first financial quarter this year.