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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.
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.
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.
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.
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.
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.
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.
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.