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SHANGHAI: China cut the benchmark lending rate on Thursday, as widely expected, as the authorities move to lower financing costs for businesses and support an economy jolted by a severe coronavirus outbreak.
SHANGHAI: Blocked highways. Stranded workers. Dwindling supplies. Shipping and air freight companies also hamstrung.
Production of technology and EMS firms may be affected
TAIPEI: Apple iPhone maker Foxconn said on Thursday it is cautiously restarting production at its main plants in China and warned revenue will be hurt this year by the Covid-19 coronavirus epidemic.
KUALA LUMPUR: A late rebound on Bursa Malaysia fizzled out due to the lack of strong follow through buying on Thursday while the broader market was mixed as investors awaited the stimulus programme to be announced on Feb 27.
BEIJING: Chinese banks extended a record 3.34 trillion yuan ($476.42 billion) in new yuan loans in January, up from December and exceeding analyst expectations.
PARIS: Air France-KLM expects the coronavirus outbreak to wipe 150 million to 200 million euros ($162-216 million) off earnings by April, assuming China flights remain suspended until then, the Franco-Dutch airline group said on Thursday.
SINGAPORE: Gold traded near a seven-year high on concern that the coronavirus outbreak will retard global growth, coupled with speculation the Federal Reserve will ease monetary policy before the year-end.
BEIJING: China's new benchmark lending rate, the one-year loan prime rate (LPR), dropped by 0.1 percentage point to 4.05 percent on Thursday, marking the latest measure of the central bank to lower financing costs for enterprises and support their production resumption amid the novel coronavirus outbreak.
PETALING JAYA: TMC Life Sciences Bhd is targeting its fertility business to contribute 30% to the group’s revenue from the current 17% for the financial year ending June 2021 (FY21).