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NEW DELHI: India’s dominant services industries crashed last month, signalling a massive contraction in the economy during the strict stay-at-home restrictions
KUALA LUMPUR: Bank Negara is expected to slash the overnight policy rate (OPR) by 50 basis points (bps) on Tuesday during its monetary policy committee (MPC) and a further 25bps in July, said Standard Chartered Global Research.
At least 50 cities across China have distributed vouchers amounting to more than six billion yuan (RM3.66bil) via e-payment systems.
HONG KONG: Standard Chartered PLC (StanChart) said its first-quarter profit tumbled 12%, as the emerging markets-focused bank boosted provisions against bad loans as the coronavirus crisis hammers its borrowers.
LONDON: Barclays set aside £2.1bil pounds (US$2.6bil) to cover a likely spike in loan losses as thousands of its corporate and consumer borrowers battle to cope with the financial fallout from the Covid-19 pandemic.
HONG KONG: At least no one can blame HSBC Holdings Plc for the coronavirus. After a series of self-inflicted blows, from its muddled search for a new chief executive to a poorly received revamp, the bank joins the rest of the industry in being blindsided by the pandemic
CRUDE whipsawed near $11 a barrel after a major index tracked by billions of dollars in funds bailed out of near-term contracts for fear prices may turn negative again.
HONG KONG/SHANGHAI: In this era of pandemic uncertainty, Chinese and Hong Kong-listed firms have come to one consensus on how to best survive it: sit on their wallets and preserve cash. They are retaining profits instead of distributing them to shareholders, with the most Hong Kong dividend payers in at least 35 years opting not to do so in the first quarter.
Nasom is targetting 150 Malaysians to participate in track and field, swimming and bowling events.