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BANGKOK: Thailand’s finance ministry has slashed its 2020 economic forecast to a record 8.5% contraction in gross domestic product from the 2.8% growth it projected in January, due to the impacts of the coronavirus pandemic.
TOKYO: Japan’s Government Pension Investment Fund (GPIF), the world’s largest pension fund, has been closely watching global macro-economic policies since the coronavirus outbreak as these measures may affect markets, the president said.
WOULD YOU still buy an electric car if you knew you wouldn’t be able to resell it in the future? That’s the latest hurdle potential buyers are contending with, and it’s bound to become a big driver of demand.
LIMA: Silver’s biggest monthly rally since 1980 has mainly been a story of strong demand. Investors are seeking shelter from pandemic turmoil and negative rates while industrial demand for the metal recovers in some parts of the world.
ZURICH: Credit Suisse is looking to tighten its international wealth management’s regional structure in a move it hopes will help the unit grow profits by 10% annually from next year, the bank said in an internal memo.
PETALING JAYA: Tek Seng Holdings Bhd reported a net profit of RM6.54mil in its second quarter ended June 30,2020, compared with a net loss of RM3.99mil in the previous corresponding period mainly due to improved sales mix recorded by the company’s PVC segment.
Targeted moratorium extensionTHE banking industry will provide borrowers affected by the Covid-19 pandemic with extended moratorium and flexibility to repay their loans, Prime Minister Tan Sri Muhyiddin Yassin announced on Wednesday.
KUALA LUMPUR: The headline inflation for June decreased to -1.9% compared with -2.9% in May, driven largely by the higher domestic retail fuel prices during the month.
IT WOULD be hard for things to get much worse in commercial aerospace, an industry hit particularly hard by the global Covid-19 pandemic.
BERLIN: The German economy contracted by 10.1% in the second quarter, its steepest plunge on record, as household spending, business investment and exports collapsed during the COVID-19 pandemic, preliminary data showed on Thursday.