News

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Mon, 23 Mar 2020 10:45:39 GMT

US Dollar edges higher

On Monday, the US Dollar edged higher against a basket of major currencies, as the coronavirus pandemic fueled global demand for the US Dollar.

Mon, 23 Mar 2020 09:59:04 GMT

Oil prices slump due to coronavirus crisis

On Monday, crude oil prices edged lower, as countries shut down business activities to fight the spread of the coronavirus pandemic.

Mon, 23 Mar 2020 08:54:18 GMT

South Korean exports increase in March

The South Korean Customs Service data showed on Monday that the country's exports activities rose by 10% in March, as the coronavirus crisis fueled teleconference demand.

Mon, 23 Mar 2020 07:51:17 GMT

Singapore Airlines cut capacity by 96%

On Monday, Singapore Airlines announced that it has cut capacity by about 96% and has grounded most of its fleet due to the coronavirus travel restraints.

Mon, 23 Mar 2020 07:00:53 GMT

Stocks plunge, as counties lockdown for business

On Monday, Asian shares edged lower, as nations shut down for business activities due to the coronavirus pandemic.

Mon, 23 Mar 2020 05:42:19 GMT

SoftBank to sell $41 worth assets

SoftBank Group Corp stated on Monday that it would get rid of its assets worth $41B to reduce debt and fund a buyback of shares.

Mon, 23 Mar 2020 05:32:39 GMT

RBA acquires $2.3B bonds

The Reserve Bank of Australia (RBA) stated on Monday that it had bought government bonds worth $2.3B to keep yields around 0.25%.

Mon, 23 Mar 2020 03:57:06 GMT

Italy to close all non-essential businesses until April 3

On Saturday, the Italian Prime Minister Giuseppe Conte announced that all non-strategic business activities must shut down until April 3, in the latest effort to combat the coronavirus pandemic.

Mon, 23 Mar 2020 02:56:15 GMT

India's biggest automakers stop production

India's biggest automakers, including Maruti Suzuki, Mercedes-Benz, Mahindra & Mahindra and Fiat Chrysler stated on Sunday that they would stop car production in India due to the coronavirus crisis.

Sun, 22 Mar 2020 20:50:46 GMT

Facebook donates 720K masks

The Facebook CEO Mark Zuckerberg stated on Sunday that the company has donated 720K protective mask for medical workers.

Sun, 22 Mar 2020 20:08:50 GMT

Obrador calls to be careful with reserves

The Mexican President Andres Obrador stated on Sunday that the country's central bank should spend reserves wisely and try to avoid to use them to contain Peso's depreciation.

Sun, 22 Mar 2020 18:49:19 GMT

Facebook to reduce video quality in EU

Facebook stated that it would reduce quality of video streaming on its platform and on Instagram in Europe to help alleviate any network congestion.

Sun, 22 Mar 2020 17:51:08 GMT

H&M to deliver protective equipment to hospitals

Fashion retailer H&M stated that it was planning to provide protective equipment to hospitals to help to restrain the coronavirus spread.

Sun, 22 Mar 2020 17:05:37 GMT

Primark to close 189 stores in Britain

Associated British Foods is set to close 189 Primark stores in the UK after stopping all new deliveries from suppliers on lower demand amid the coronavirus outbreak.

Sun, 22 Mar 2020 16:36:49 GMT

Netflix to cut traffic in Europe

Netflix announced that it will slash traffic 25% over networks across the EU in a bid to relieve strain on internet service providers experiencing a rise in usage due to coronavirus.

Sun, 22 Mar 2020 15:09:35 GMT

Greek economy heads towards zero growth

The Greek economy is heading towards zero growth in 2020, a decline from the previous estimate of 2.4% growth, the Bank of Greece Governor Yannis Stournaras says.

Sun, 22 Mar 2020 14:09:49 GMT

ABB resumes construction of factory in China

Swiss-Swedish multinational corporation ABB has resumed construction of its $150M robotics factory in China, the president of ABB Engineering James Li says.

Sun, 22 Mar 2020 13:33:17 GMT

Greece to inject 10B euro in economy

The Greek government plans to inject additional €10.67B to support the struggling economy, the Prime Minister Kyriakos Mitsotakis says.

Sun, 22 Mar 2020 13:33:01 GMT

Australia reserves $38.50B for economy support

The Australian government stated on Sunday that it would provide additional $38.50B to help the economy to overcome the consequences of coronavirus.

Sun, 22 Mar 2020 12:33:01 GMT

Amazon increases overtime pay

Amazon.com stated on Sunday that it has taken decision to increase overtime pay for its warehouse staff amid the rapidly growing demand caused by the coronavirus outbreak.

Sun, 22 Mar 2020 11:32:41 GMT

Renault wants to avoid renationalization

The Chairman of Renault Jean-Dominique Senard stated on Sunday that the company could ask the government for help to handle the impact of coronavirus, though renationalization was not considered.

Sun, 22 Mar 2020 10:33:56 GMT

Russia blames Gulf states for oil price fall

One of the senior Russian officials, Andrei Belousov, stated on Sunday that the Gulf countries were the ones to blame for rapid oil prices fall.

Sun, 22 Mar 2020 08:11:55 GMT

Germany eyes 156B euros supplementary budget

On Saturday, Olaf Scholz, Germany's Finance Minister, said that the German government was preparing a stimulus measures of about 156B euros to fight the economic impact of the coronavirus crisis.

Sun, 22 Mar 2020 07:01:58 GMT

Amazon increases overtime pay for US warehouse workers

On Saturday, Amazon.com announced that it would increase overtime pay for staffs, working at the warehouses in the United States.

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