China’s new coronavirus hits global markets
The new coronavirus outbreak in China is causing uncertainty in global markets, with Asian stocks taking a significant hit. Analysts warn of potential staggering economic losses if the virus reaches epidemic proportions, affecting industries like airlines and tourism.
Three Malaysian execs face money laundering charges
Two former high-ranking Malaysian government officials were arrested by the Malaysian Anti-Corruption Commission (MACC) on money laundering charges. Tan Sri Shahrir Abdul Samad and Datuk Seri Ahmad Maslan are accused of illegally obtaining RM1 million and are among 80 individuals linked to suspicious 1MDB transactions.
UN worries about unemployment of 470M people worldwide
The UN's International Labor Organization warns of rising unemployment, with 190.5 million registered jobless individuals in 2020. The report highlights concerns about job quality and skills underutilization, affecting nearly half a billion workers worldwide.
Thai regulations hurdle Tesco’s sale of Asian assets
Tesco's plan to sell its Asian operations in Thailand and Malaysia may be complicated by new government regulations. The Thai Trade Competition Commission warns that potential buyers must secure authorization if their purchase would result in controlling over 50% of the retail market, potentially impacting the $10 billion deal's completion.
What to expect next as US-China trade deal gets inked
US President Donald Trump and China's Vice Premier Liu He signed a long-awaited trade deal, promising fair trade and committing China to purchase $200 billion in additional American goods by next year, with provisions for intellectual property protection.
Volcano eruption won’t hit Philippines GDP, says Economist
The National Economic and Development Authority (NEDA) asserts that the Taal Volcano eruption will not significantly slow down the Philippines' economic growth. Despite initial economic loss estimates of P7.63 billion in Batangas province, NEDA chief Ernesto Pernia confirms the impact is less than 1% of the country's total GDP.
Hong Kong’s financial sector unmoved by protests
Despite month-long pro-democracy protests, Hong Kong's financial sector remains strong. Chief Executive Carrie Lam emphasized the city's economic resilience, citing lessons learned from the Asian financial crisis and the government's efforts to maintain stability.
US and China vowed to resolve economic disputes through comprehensive dialogue
The United States and China have agreed to resume their Comprehensive Economic Dialogue, aimed at resolving trade disputes. Following the Phase 1 trade deal signing, Treasury Secretary Steven Mnuchin and Vice Premier Liu He will lead semi-annual talks to address economic tensions between the two nations.
World stocks rise as Mid-East tensions wane
World stocks reached a record high as Middle East tensions decreased. Investors are betting on faster global growth, with attention turning to employment data and the technology sector. MSCI's global shares index showed gains, and major markets like the S&P 500 and Dow Jones saw positive movement.
President Trump boasts US’ investment boom in Ohio rally
President Trump addresses supporters in Toledo, Ohio, emphasizing job growth, economic investments, and upcoming trade agreement USMCA, which he claims will benefit American farmers, workers, and manufacturers.
