Banks to notify hire purchasers on loan moratorium procedures

PETALING JAYA: The Association of Banks in Malaysia (ABM) and its member banks will be notifying their respective hire purchase customers on the procedures for the six-month loan moratorium announced by Bank Negara.

Indonesia to give subsidies, loan relief to 60 mil small/medium businesses

JAKARTA, April 30 (The Jakarta Post/ANN) - The government will subsidize and ease loan interest payments for micro, small and medium enterprises (MSMEs), the backbone of the Indonesian economy, as they struggle to stay afloat amid the COVID-19 pandemic.

Philippines sells US$2.35bil of bonds as it fights Covid-19 pandemic

MANILA: The Philippines raised US$2.35bil in a bond sale, becoming the latest emerging nation to pay up for funds as governments seek to shield their economies from the coronavirus pandemic. The South-East Asian nation, which is facing its worst deficit ratio in two decades, issued the securities in two parts.

Rich Asian families tighten belts amid pandemic, while others seek bargains

SINGAPORE (Bloomberg): In September, as Hong Kong's streets filled with tear gas and protesters, third-generation heir Tony Yeung remained confident the city's economy would bounce back from the turmoil. He regularly flew between Asia and Europe helping his family office and partners hunt for deals.

Huazong lists 35-point proposal for govt to consider during Covid-19 and MCO

It’s time to consider a new economic model

FATALITY figures from the Covid-19 pandemic are increasing every day around the globe. At the time of writing, almost 150 thousand lives have been lost with the number of infections already more than 2,000,000. There is no news yet on the availability of any vaccine and, therefore, the above numbers are likely to increase in the coming months.

More reading online

THE Universiti Putra Malaysia (UPM) Sultan Abdul Samad Library (PSAS) is seeing a rise in users of its online teaching, learning and research services.

Italian mob seeks to profit from coronavirus crisis, prosecutors say

ROME (Reuters) - Italy's mafia clans are taking advantage of the coronavirus pandemic to buy favour with poor families facing financial ruin, prosecutors and officials say, and are offering loans and food in what is seen as an age-old recruitment tactic.

Coronavirus chaos is the IMF’s biggest test ever

HONG KONG: Finance ministers and central-bank governors logging in for this week’s virtual meetings of the International Monetary Fund and World Bank will say the right thing, promising to work together to confront the economic fallout of the coronavirus. The question is whether they will do the right thing and take concrete steps to allow the necessary cooperation and coordination.

Outbreak's global economic cost may top US$4 trillion

The outbreak of the Covid-19 (coronavirus) pandemic has dealt a shock to the global economy with unprecedented speed. Following are developments on Friday related to the global economy, the work place and the spread of the virus.