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BEIJING: Asia’s top refiner China Petroleum & Chemical Corp, or Sinopec, will trim capital expenditures in 2020 by 2.5% from a year earlier amid plunging oil prices and tepid fuel demand caused by the coronavirus outbreak.
PETALING JAYA: Shipping company Hubline Bhd is cautiously optimistic of its performance for the financial year ending Sept 30,2020 (FY20), driven by its improving dry bulk business and new aviation business venture amid the Covid-19 pandemic.
NEW YORK: Oil prices plunged 5% on Friday and posted a fifth straight weekly loss as demand destruction caused by the coronavirus outweighed stimulus efforts by policymakers around the world.
PETALING JAYA: The coronavirus (Covid-19) pandemic, coupled with global headwinds, may trigger more downgrades in the domestic bond market this year.
BRUSSELS (Reuters) - European Union leaders have agreed that the bloc's coronavirus economic recovery plan should take heed of its aim to fight climate change.
KUALA LUMPUR: Bursa Malaysia ended the week on a strong note, buoyed by positive news about several countries’ stimulus packages including Malaysia’s to offset the devastating impact of the Covid-19 coronavirus.
NEW YORK: Oil prices dropped more than US$1 a barrel on Thursday as a growing number of virus-related restrictions on travel slashed global fuel demand, overshadowing expectations that a $2 trillion U.S. stimulus package will bolster economic activity.
PETALING JAYA: Rain or shine, they are there to see to it that the nation’s top priority – the movement control order (MCO) – is strictly enforced.
BEIJING: Cnooc Ltd, one of China’s three state-owned oil giants, said it would cut capital expenditure target this year, a signal that the government’s push to boost domestic production can’t withstand the collapse in crude prices.
MELBOURNE: Oil prices were mixed on Thursday following three days of gains, with the prospect of rapidly dwindling demand due to coronavirus travel bans and lockdowns offsetting hopes a U.S. $2 trillion emergency stimulus will shore up economic activity.