Money & Finance

In 2013, the International Consortium of Investigative Journalists unveiled massive offshore tax evasion, exposing 130,000 hidden accounts involving legislators, business leaders, and prominent figures worldwide. The revelations prompted significant global tax policy reforms and increased scrutiny of international financial practices.

Asian markets rebounded after the Bank of Japan and U.S. Federal Reserve pledged support during the coronavirus crisis. BOJ Governor Haruhiko Kuroda announced emergency steps to provide market liquidity and stabilize financial movements, while the Fed made an unscheduled commitment to prevent market collapse.

The IMF and World Bank have developed contingency plans to offer financial assistance to countries struggling with COVID-19's economic impact. IMF spokesman Gerry Rice confirmed the institutions are prepared to lend capital and support countries facing balance of payment challenges during the global health crisis.

The Philippine stock market experienced its deepest fall since 2016 due to coronavirus impact, with the PSE Index dropping 4.3% and major companies like Jollibee seeing significant stock declines. China's economic shutdown has contributed to market volatility.

Nine Japanese nationals wanted for telecommunications fraud were deported by the Philippines Bureau of Immigration. The suspects, part of a fraud syndicate since 2018, allegedly scammed over 1,500 Japanese citizens of approximately 1.5 billion yen ($13 million) through voice phishing schemes.

South Korea faces economic challenges as coronavirus cases surge from 31 to 833. The government has raised the virus alert to its highest level and is implementing strict quarantine measures. The outbreak threatens the country's trade-dependent economy, with impacts on domestic consumption and exports.

Indonesia's central bank reduces interest rates to 4.75% in response to potential economic disruption from coronavirus, addressing production shortages and tourism decline despite no confirmed cases. Bank governor Perry Warjiyo emphasizes ongoing assessment of the virus's economic implications.

A Japanese educational institution's former leaders, Yasunori and Junko Kagoike, were convicted of fraudulently obtaining government subsidies totaling over ¥176 million by falsely inflating school enrollment and support needs.

Malaysian authorities claim Jho Low was recently seen in Wuhan, the epicenter of the coronavirus pandemic. The fugitive businessman is wanted for his role in the massive 1MDB embezzlement, with police now monitoring international arrivals for his potential return.

India has emerged as the world's 5th largest economy, driven by economic liberalization, global integration, and a robust service sector that contributes 60% to its economic output. The nation's growth trajectory indicates a promising future in the global economic landscape.