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Indonesia: Loan growth plunges in H1 as pandemic dashes economy; Covid-19 total go past 115,000
JAKARTA, Aug. 4 (Xinhua): Indonesia's loan growth tumbled in the first semester this year along with a huge debt restructuring as the Covid-19 (coronavirus) pandemic nearly grounded business activities to a halt.
Greek PM rejigs cabinet, retains key ministers
ATHENS (Reuters) - Greek Prime Minister Kyriakos Mitsotakis rejigged his cabinet on Tuesday to help his country manage effectively European funds that it has secured to tackle the fallout of the COVID-19 pandemic.
BP halves dividend after record loss, speeds up reinvention
LONDON: BP cut its dividend for the first time in a decade after a record $6.7 billion second quarter loss when the coronavirus crisis hammered fuel demand and it sought to win over investors by speeding up its reinvention as a lower carbon company.
Credit-related costs weigh on Japanese bank MUFG's profit
TOKYO: Mitsubishi UFJ Financial Group Inc (MUFG), Japan's largest lender by assets, said on Tuesday its first-quarter net profit more than halved as credit-related costs ballooned due to the coronavirus pandemic.
Investors rethink ‘60/40’ as low bond yields test portfolios
NEW YORK: The staple US portfolio of 60% equities and 40% fixed income proved resilient this year, but strategists are now considering alternatives to government debt after some bond yields reached historic lows.
JPMorgan sees virus fallout stoking Middle East deals into 2021
DUBAI: The financial fallout from the coronavirus pandemic will keep fuelling debt issuance from the Middle East into 2021, while also stoking mergers and acquisitions (M&As) as companies seek to consolidate, according to JPMorgan Chase & Co.
HSBC warns loan losses could hit US$13bil
LONDON: HSBC Holdings PLC warned its bad debt charges could blow past a previous estimate to US$13bil this year and said its profits more than halved, as the coronavirus pandemic hammered the bank’s retail and corporate customers worldwide.
India bond buyers tighten grip
MUMBAI: With the health of Indian companies’ balance sheets deteriorating at the worst pace ever, investors are demanding more protection.
Japan’s Seven & i to buy Marathon’s gas stations
BENGALURU: The Japanese owner of 7-Eleven convenience stores has agreed to buy Marathon Petroleum Corp’s Speedway gas stations for U&S$21bil, brushing aside coronavirus concerns to return to the table five months after initially baulking at the deal.
Coronavirus impact on YTL REIT seen temporary
Analysts say company has steady income from M’sia, Japan
