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WASHINGTON (The Straits Times/ANN): In a bad case scenario, East Asia and the Pacific could see up to 11 million people driven into poverty, with low wage and informal sector workers the most vulnerable, the World Bank warns in a report on the economic impact of the Covid-19 pandemic.
BEIJING (Xinhua): Chinese President Xi Jinping said on Wednesday (March 25) that China is ready to work with all other parties to step up coordination against Covid-19 and shore up confidence in the international community.
WASHINGTON (China Daily/ANN): One of the key lessons from China's experience so far during the Covid-19 outbreak is that it is important for macroeconomic policy to focus on mitigating the economic impact of the outbreak and supporting economic recovery, said an International Monetary Fund (IMF) official.
WASHINGTON (Reuters) - President Donald Trump has picked his favourite weapon to fight the economic fallout from the coronavirus - an elimination of the "payroll tax" on workers' gross earnings that is used to fund national retirement programs.
JAKARTA (The Jakarta Post/ANN): Indonesia may not be affected severely by the global health emergency, thanks to its minimal exposure to the global trade and its wide room to manoeuvre in monetary policy, the Asian Development Bank (ADB) has said.
BEIJING/LONDON/RIYADH: The OPEC club of oil-producing countries begins meeting on Thursday (March 5) in Vienna as they weigh how to react to a sharp drop in global oil demand due to the outbreak of the Covid-19 (coronavirus).
KUALA LUMPUR: The credit profile of Malaysia (A3 stable) is supported by its large, diversified and competitive economy, strong medium-term growth prospects compared with similarly rated peers and ample natural resources, Moody's Investors Service says.
HONG KONG: Fitch Ratings has affirmed China's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'A+' with a Stable Outlook.
SHANGHAI (Reuters) - Chinese President Xi Jinping said the country's economy is stable, healthy and well placed to meet all risks and challenges, according to a transcript published by the Xinhua news agency.