Money & Finance

The COVID-19 pandemic has triggered unprecedented economic disruptions, leading to global shortages, panic buying, and significant market transformations across industries and nations.

Japanese Prime Minister Shinzo Abe announced a massive $989 billion stimulus package to protect the economy from coronavirus damage, representing 20% of GDP and more than double the 2008 financial crisis relief efforts.

Economic experts warn that Indonesia's US$24.2 billion relief package will not prevent widespread job losses. The stimulus funds must be divided between economic programs, healthcare, and social protection, leaving limited resources for struggling workers and small businesses.

Vietnamese exports to the United States have surged, with imports reaching $67 billion in 2019—a 36% increase. As American companies reduce dependence on Chinese supply chains, Vietnam has emerged as a critical alternative manufacturing hub, supplying diverse products to the US market.

The Australian government pledged $79.85 billion to subsidize salaries for over 6 million workers affected by coronavirus. Prime Minister Scott Morrison emphasized the importance of keeping businesses afloat and employees on payrolls during the economic crisis.

Google is providing $340 million in Ads credits to small and medium-sized businesses with active accounts. CEO Sundar Pichai announced an $800+ million commitment to support SMBs, health organizations, and frontline workers during the coronavirus pandemic.

International law enforcement agencies are alerting the public about a surge in coronavirus-related frauds. The UK's National Fraud & Cybercrime Reporting Centre reported a 400% increase in scams during March, primarily involving online shopping fraud and phishing attempts targeting personal and financial information.

US stock markets sharply rose Tuesday after the government announced progress on a massive financial stimulus package. President Trump's administration and Congress are close to finalizing a relief deal aimed at cushioning the economic impact of COVID-19.

Despite calls from the Association of Stockbroking Companies to suspend trading, Malaysian authorities and Bursa Malaysia have committed to maintaining stock market operations during the coronavirus lockdown. Regulators argue that market suspension could cause more harm than good and potentially create additional economic challenges.

Economists from Reuters poll predict global recession as coronavirus impacts markets worldwide. 31 of 41 experts believe COVID-19 has triggered economic downturn, with JP Morgan and Bank of America forecasting significant economic contraction in Q2.