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The Financial Express

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Asian stocks fall on virus worry, China stock rally pauses

Asian stocks fall on virus worry, China stock rally pauses

REUTERS 2020-07-10 10:42:44

Asian shares and US stock futures fell on Friday as record-breaking new coronavirus cases in several US states stoked concerns that new lockdowns could derail an economic recovery, while investors loo...

Sri Lanka central bank delivers steep rate cuts to support virus-hit economy

Sri Lanka central bank delivers steep rate cuts to support virus-hit economy

REUTERS 2020-07-09 16:14:50

Sri Lanka’s central bank delivered an unusually large cut to two of its key interest rates on Thursday as it ramped up efforts to support an economy which has been battered by the Covid-19 pande...

Global stocks: China charges on, gold reaches nine-year high

Global stocks: China charges on, gold reaches nine-year high

REUTERS 2020-07-09 15:58:59

European shares were rising again after a two-day wobble on Thursday as China’s markets continued their charge, and something between fear and greed propelled gold to a nine-year high. Chinese...

'Death Cross' strikes US dollar as Covid-19 cases grow

'Death Cross' strikes US dollar as Covid-19 cases grow

REUTERS 2020-07-09 13:05:46

A resurgent coronavirus pandemic in the United States and the prospect of improving growth abroad are souring some investors on the dollar, threatening a years-long rally in the currency. The dollar...

China's consumer inflation rises to 2.5pc in June

China's consumer inflation rises to 2.5pc in June

-- 2020-07-09 12:55:25

China's consumer inflation remained generally stable in June under the country's continued efforts toward economic recovery, official data showed Thursday. Consumer price index (CPI), the main gauge...

Vietnam's plastic import volume up 5.3pc in H1

Vietnam's plastic import volume up 5.3pc in H1

-- 2020-07-08 16:23:21

Vietnam imported more than 3.1 million tons of plastic worth roughly 3.9 billion US dollars in the first six months of this year, posting a year-on-year rise of 5.3 per cent in volume and a decrease o...

‘COVID-19 ends hopes of poverty eradication by 2030’

‘COVID-19 ends hopes of poverty eradication by 2030’

-- 2020-07-07 18:54:31

The global COVID-19 pandemic has pushed more than 250 million people to the brink of starvation and dashed hopes of eradicating extreme poverty by 2030, a UN expert said in a report published on Tuesd...

Indonesia's forex reserves reach $131.7b in June

Indonesia's forex reserves reach $131.7b in June

-- 2020-07-07 14:59:12

Indonesia's central bank recorded foreign exchange (forex) reserves at 131.7 billion US dollars at the end of June, an increase compared to 130.5 billion dollars at the end of May. "The increase in f...

Currency crisis impoverishes Iranians, strains economic defences

Currency crisis impoverishes Iranians, strains economic defences

REUTERS 2020-07-07 14:01:09

Desperate to afford her daughter’s overseas university fees, 58-year-old retired Iranian teacher Maryam Hosseini withdrew all her savings from the bank to buy US dollars. It was not enough. Wit...

Virus severely affects S Asian livelihoods

Virus severely affects S Asian livelihoods

FE Report 2020-07-07 09:38:24

The new coronavirus pandemic in South Asia has severely affected livelihoods of over 1.7 billion people, according to the Global Food Policy Report (GFPR) 2020. It said the disruptions to supply chai...

Vietnam's garment exports decline 15.5pc in H1

Vietnam's garment exports decline 15.5pc in H1

-- 2020-07-06 16:14:57

Vietnam's total textile and garment export value in the first half of this year declined by 15.5 per cent year-on-year to nearly 12.8 billion US dollars, according to the country's General Statistic...

Asia shares climb as China blue chips hit five-year peak

Asia shares climb as China blue chips hit five-year peak

REUTERS 2020-07-06 11:41:36

Asian shares scaled four-month peaks on Monday as investors counted on super-cheap liquidity and fiscal stimulus to sustain the global economic recovery, even as surging coronavirus cases delayed re-o...

Egypt's Red Sea resort city obtains 899 foreign tourists

Egypt's Red Sea resort city obtains 899 foreign tourists

-- 2020-07-05 16:18:43

Egypt's Red Sea resort city of Hurghada received on Saturday 899 foreign tourists aboard five flights coming from Switzerland, Belarus and Ukraine, the Red Sea governor told reporters at Hurghada airp...

German minister sees economic recovery from October

German minister sees economic recovery from October

Reuters 2020-07-05 14:17:19

Germany’s economy may recover from October onwards from the coronavirus pandemic, Economy Minister Peter Altmaier said in a newspaper interview on Sunday. “I am sure that the downturn of...

Business sector still far from reaching SDGs, UN report shows

Business sector still far from reaching SDGs, UN report shows

-- 2020-07-04 20:15:11

A recent United Nations report on the private business sector shows that the majority of companies are not doing enough to help bring about the UN’s 2030 Agenda for Sustainable Development Goals...

Euro zone business slump eased in June

Euro zone business slump eased in June

-- 2020-07-04 15:29:12

The plunge in euro zone business activity caused by lockdowns imposed to stop the spread of the coronavirus eased sharply last month as more businesses reopened and people ventured out, a survey has s...

Nepal's tourism sector incurs loss of $282m

Nepal's tourism sector incurs loss of $282m

-- 2020-07-04 12:48:16

Nepal's tourism industry is estimated to lose 34 billion Nepali Rupees (282 million US dollar) since the country’s government enforced lockdown in March to prevent the spread of COVID-19 pandemi...

ADB joins NGFS as observer

ADB joins NGFS as observer

-- 2020-07-03 20:48:05

The Asian Development Bank (ADB) joined the Central Banks and Supervisors Network for Greening the Financial System (NGFS) as an observer on June 23. NGFS, launched at the Paris One Planet Summit on...

US trade deficit widens as exports fall to lowest level since 2009

US trade deficit widens as exports fall to lowest level since 2009

REUTERS 2020-07-03 13:25:19

The US trade deficit widened in May as the Covid-19 pandemic pushed exports to their lowest level since 2009, strengthening expectations the economy will contract in the second quarter at its steepest...

US manufacturing activity rebounds in June

US manufacturing activity rebounds in June

-- 2020-07-02 16:22:32

Economic activity in the US manufacturing sector rebounded in June, after three months of contraction amid mounting Covid-19 fallout, the Institute for Supply Management (ISM) reported Wednesday. The...

Asian stocks rise on vaccine hopes, eyes on US payrolls

Asian stocks rise on vaccine hopes, eyes on US payrolls

REUTERS 2020-07-02 09:48:05

Asian stocks tracked Wall Street higher on Thursday although sentiment was cautious ahead of US employment data while copper prices jumped to more than six-month highs on a better global outlook and s...

Gulf economies to shrink by 7.6pc this year, IMF says

Gulf economies to shrink by 7.6pc this year, IMF says

-- 2020-07-01 18:05:04

Gulf Cooperation Council (GCC) countries will see their economies shrink by 7.6 per cent this year, an International Monetary Fund official said on Tuesday, revising downwards April forecasts of nearl...

‘COVID-19 could wipe out gains in equality for women at work’

‘COVID-19 could wipe out gains in equality for women at work’

-- 2020-07-01 16:32:08

The coronavirus pandemic could wipe out "the modest progress" made on gender equality at work in recent decades with women globally at greater risk of losing their jobs, the International Labour Organ...

New York City passes $88 billion budget

New York City passes $88 billion budget

-- 2020-07-01 16:15:52

The New York City Council voted to pass the 2021 budget on Tuesday night with cuts to police funding after weeks of fraught negotiations with Mayor Bill de Blasio, but some lawmakers complained it fel...

Indonesia's annual inflation falls to lowest in 20 years in June

Indonesia's annual inflation falls to lowest in 20 years in June

-- 2020-07-01 13:25:50

The consumer price index in June logged the lowest level since May 2000 as the novel coronavirus pandemic stretched deep the country's economy and depressed demands. The National Agency of Statistics...

India records quarterly current account surplus for first time in 13 years

India records quarterly current account surplus for first time in 13 years

REUTERS 2020-07-01 11:19:46

India’s current account turned positive in the last quarter of the 2019/20 fiscal year as a result of a lower trade deficit and a sharp rise in net invisible receipts, the Reserve Bank of India...

Greek economy to fall by 5.8pc in 2020: BoG

Greek economy to fall by 5.8pc in 2020: BoG

-- 2020-06-30 16:22:24

The Bank of Greece (BoG) expects the country's economy to shrink by 5.8 per cent this year in its baseline scenario, but risks related to the coronavirus pandemic could bring the economic contraction...

UK economy shows biggest drop in 40 years in early 2020

UK economy shows biggest drop in 40 years in early 2020

Reuters 2020-06-30 13:51:07

Britain’s economy shrank by the most since 1979 in early 2020 as households slashed their spending, according to official data that included the first few days of the coronavirus lockdown. Gros...

Vietnam's H1 GDP growth lowest in 10 years

Vietnam's H1 GDP growth lowest in 10 years

-- 2020-06-29 16:18:02

Vietnam's gross domestic product (GDP) grew 1.81 per cent in the first half of this year, the lowest six-month growth rate in the 2011-2020 period, the General Statistics Office said on Monday. Betwe...

Asia stocks retreat as virus threatens economic reopening

Asia stocks retreat as virus threatens economic reopening

REUTERS 2020-06-29 12:08:32

Asian share markets began the week with a cautious tone on Monday as the relentless spread of the coronavirus finally made investors question their optimism on the global economy, benefiting safe harb...