Business News

The coronavirus is putting Egypt’s private cement industry under even more pressure.

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Mall operators in the Gulf region are delaying new mega-projects as the coronavirus pandemic and low oil prices upend a retail industry built around huge centres catering to tourists and wealthy locals.

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Barely three months ago, Serge Dumas had one problem: how to keep up with record demand for the metal fasteners and bolts his small aerospace supply firm manufactures just north of Toulouse.

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Japan’s service sector sentiment index rose in May, a Cabinet Office survey showed on Monday, although the coronavirus pandemic continues to weigh on firms’ business confidence.

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With a full three months of responding to a global pandemic under their belt, U.S. Federal Reserve officials have united around one point: lasting progress on the economic front will be dictated by success in containing the spread of the coronavirus.

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Japan’s economy braced for its worst postwar slump even as first-quarter GDP contracted less than initially thought, as the cornonavirus crisis slams the brakes on global growth and raises pressure on Tokyo to cushion the blow to business and consumers.

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The de facto leader of Samsung Group, Jay Y. Lee, appeared before a South Korean court on Monday, awaiting a ruling on whether new allegations including accounting fraud and stock manipulation will send him back to jail after more than two years of freedom.

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Global share prices edged higher on Monday after a surprise recovery in U.S. employment provided cause for optimism that global economies could quickly revive after many weeks of lockdowns aimed at controlling the coronavirus pandemic.

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Japan should focus on back-stopping struggling businesses rather than trying to spark overall demand in fighting the coronavirus pandemic, its economy minister said, suggesting the central bank should avoid pushing interest rates deeper into negative territory.

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Japan’s economy shrank less than initially estimated in the first quarter, revised data showed on Monday, but the broad impact from the coronavirus crisis is still expected to send the country deeper into recession.

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Japan’s economy shrank less than initially estimated in the first quarter but the broad impact from the coronavirus crisis is still expected to send the country deeper into recession.

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Mexico is set to propose senior trade official Jesus Seade, who helped rework the North American Free Trade Agreement, as a candidate to be the next director-general of the World Trade Organization (WTO), sources said on Sunday.

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Singapore Airlines Ltd said on Monday that it had secured about $1 billion in credit facilities, in addition to the S$8.8 billion ($6.32 billion) it recently raised from a rights issue, to help it weather the COVID-19 pandemic.

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Japan’s economy shrank less than initially estimated in the first quarter, revised data showed on Monday, but the broad impact from the coronavirus crisis is still expected to send the country deeper into recession.

…read more […]

Japan’s economy shrank less than initially estimated in the first quarter but the broad impact from the coronavirus crisis is still expected to send the country deeper into recession.

…read more […]