CAIRO — Egypt’s economy will grow by a subdued 3.3% in the fiscal year that began in July, a Reuters poll of 20 economists showed on Tuesday, down from the 5.9% the government had been aiming for before the coronavirus pandemic hit earlier this year. The pandemic caused tourism to collapse since March and other […]
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Global foreign direct investment halved in first six months of 2020 – U.N.
GENEVA — Global foreign direct investment (FDI) plunged by 49% in the first half of 2020 from the same period a year ago and is on course to fall by up to 40% for the year, driven by fears of a deep recession, the United Nations said on Tuesday. FDI flows to European economies turned […]
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JGB yields edge lower on rising coronavirus cases
TOKYO — Yields on Japanese government bonds slipped on Tuesday, as sentiment was weighed by uncertainty over U.S. stimulus talks and the global economic outlook due to a surge in coronavirus cases. Benchmark 10-year JGB futures rose 0.1 point to 152.03, with a trading volume of 13,091 lots, while the 10-year JGB yield fell half […]
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Ant Group to close HK institutional book early amid ‘overwhelming’ demand for IPO-sources
HONG KONG — Ant Group will close institutional order books of the Hong Kong portion of its record-setting dual IPO ahead of schedule due to strong demand, sources with direct knowledge of the matter said. The institutional book of the $17.2 billion Hong Kong listing was due to close on Thursday, but that deadline will […]
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Asia’s crude demand ex-China shows tentative recovery signs: Russell
LAUNCESTON — There are emerging signs that crude oil demand is gradually recovering in major Asian countries outside China, a key pre-condition to sustaining any bullish view of the market. While China’s crude imports have been record-breaking, with the five highest months being the May to September period, the rest of Asia has struggled amid […]
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Japan unveils plan to prod carriers to cut cellphone charges
TOKYO — Japan on Tuesday laid out a plan for reducing consumers’ cellphone charges, as the government stepped up its bid to promote competition in the country’s telecoms market. Lowering cellphone charges has been among Prime Minister Yoshihide Suga’s policy priorities since becoming the country’s leader last month, as he shakes up a highly protected […]
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China plans to simplify structure of Shenzhen bourse – Caixin
SHANGHAI — China’s securities regulator is planning to simplify the structure of trading boards on the Shenzhen Stock Exchange by merging the main board with the SME board, business publication Caixin reported on Tuesday, citing regulatory sources. The listing and regulatory rules of the main board and the SME board for small- and medium-sized enterprises […]
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Malaysian shares recover, ringgit steady as political tensions ease
Malaysian shares rose on Tuesday as political tensions eased after the largest party in the ruling coalition declared its support for the prime minister, providing some respite for the premier, who has faced calls to resign. Most other Asian stock indices were firmly in the red, as soaring global coronavirus cases threatened to derail a […]
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U.S. to announce plan for Medicare, Medicaid to cover early COVID-19 vaccine- Politico
The U.S. Trump administration will this week announce a plan to cover out-of-pocket costs of COVID-19 vaccines for millions of Americans who receive Medicare or Medicaid, Politico reported late on Monday, citing four people with knowledge of the plan. According to the plans, Medicare and Medicaid will now cover vaccines that receive emergency use authorization […]
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China shares fall as industrial profit growth slows
SHANGHAI — Chinese A-shares fell on Tuesday, weighed by industrial and consumer staple firms, after data showed a slowdown in industrial profit growth in September. ** At the midday break, the Shanghai Composite index was down 0.37% at 3,239.03 points. ** China’s blue-chip CSI300 index fell 0.33%, with its industrial sector sub-index down 0.87%. Financial […]