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South Korea pledges emergency measures as virus outbreak in China affects economy
Two of South Korea’s chiefs of economic policy pledged on Friday that they would deploy emergency measures to minimize the impact of the novel coronavirus on the country’s economy.
Finance Minister Hong Nam-ki and Bank of Korea Governor Lee-Ju-yeol made the remarks at the beginning of their meeting. South Korea’s economy has been speculated by many economists to be severely affected because of its close business relationship with China.
Governor Lee-Ju-yeol said that the bank was working on financial aid packages for sectors that would be directly affected by the spreading virus. However, he had made no further comments on whether it would lower interest rates to support the economy.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
The outlook for India’s struggling economy has darkened further on weak business activities and surging virus cases. This will likely prompt the Reserve Bank of India to lower interest rates again, a Reuters survey showed. According ...
Australia had seen its employment rate dropping 1.1% between mid-June and mid-July, weekly data showed on Tuesday. In addition to this, the southeastern state of Victoria recorded the sharpest plunge in employment as the state suffers from ...
Japan’s first-quarter business spending came smaller than what was initially estimated, revised data showed on Monday. This underscored a sharper damage that the novel coronavirus pandemic had inflicted on the world’s third-biggest ...
KYC Policy