Buzzfeed closes news operations in Britain, Australia
SYDNEY — Groundbreaking website Buzzfeed said on Thursday that it would be shuttering part of its loss-making news operations in Britain and Australia, as it scales back global ambitions to…
China’s auto industry struggles to motor ahead post-coronavirus lockdown
Since reopening on March 11, Dongfeng Honda Automobile has restored its production capacity to the peak level of more than 3,000 cars a day. The Straits Times/Asia News Network/ELIZABETH LAW…
India unveils $265 billion coronavirus economic package
The credit line is part of a 20 trillion rupee (S$378 billion) fiscal and monetary package to support the Indian economy. PHOTO: EPA-EFE via The Straits Times/Asia News Network NEW…
JG Summit’s Q1 core profit down 19%
Cebu Pacific Gokongwei-led conglomerate JG Summit Holdings saw a 19-percent year-on-year decline in core net profit to P4.3 billion in the first quarter as coronavirus (COVID-19) pandemic caused financial hemorrhage…
Stocks drop again on worries about slow recovery for economy
Wall Street’s earlier bets that the economy can make a relatively quick rebound from the coronavirus pandemic suddenly don’t look so good. A woman wearing face mask walks past a…
UN forecasts pandemic to shrink world economy by 3.2%
UNITED NATIONS — The United Nations forecast Wednesday that the COVID-19 pandemic will shrink the world economy by 3.2% this year, the sharpest contraction since the Great Depression in the…
Restrictions on public, private construction projects listed
MANILA, Philippines — While more public works and private construction projects are now allowed under the modified enhanced community quarantine (MECQ) imposed over Metro Manila, Laguna and Cebu City from…
Major PH airlines suspend flights anew till May 31
MANILA, Philippines — The country’s major airlines operating from Ninoy Aquino International Airport (Naia) have canceled their domestic and international flights for the rest of May after Metro Manila, the…
Biggest economic decline since waning years of Marcos regime seen
MANILA, Philippines — The Philippine economy’s contraction this year could be greater than earlier predicted as measures to contain the coronavirus outbreak weigh on domestic demand and investments, and the…
PSEi loses 0.45% in thin trade
The local stock barometer dipped on Wednesday as investors started to price in the latest rebalancing of MSCI indices alongside the economic impact of an extended lockdown of Metro Manila.…