China’s service sector bounces back as COVID-19 epidemic wanes
People purchase goods at a night fair in east China’s Shanghai, June 6, 2020. Xinhua via China Daily/Asia News Network BEIJING — As the COVID-19 epidemic has waned in China,…
Asian shares slide after Wall Street retreat
TOKYO — Asian shares were mostly lower Thursday, with Tokyo dropping more than 1% as the Japanese yen gained after the Federal Reserve said it would keep interest rates low…
Indonesia’s unicorns, start-ups join forces to produce coronavirus test kits locally
The move to produce test kits locally is to reduce reliance on imports. AFP via The Straits Times/Asia News Network JAKARTA — Indonesia’s unicorns and start-ups have joined forces to…
China’s luxury industry bouncing back from slump
Tourists purchase luxury goods at a duty-free store in Haikou, capital of South China’s Hainan province, on May 2. Photo by Luo Yunfei/China News Service via China Daily/Asia News Network…
EastWest to set aside P10B loan loss buffer this 2020
Gotianun-led EastWest Bank plans to book P10 billion in provisions for probable loan losses this year to prepare for the fallout from the coronavirus (COVID-19) pandemic. Before the pandemic erupted,…
Stocks end mostly lower, even as Nasdaq tops 10,000 points
Stocks closed a choppy day on Wall Street with broad losses Wednesday, despite fresh assurances from the Federal Reserve that it would keep interest rates low through 2022 and would…
Sales of casual dining chain slump due to lockdown
Leading local casual dining chain Max’s Group Inc. (MGI) turned unprofitable in the first quarter due to disruptions caused by the coronavirus pandemic, prompting the group to streamline operations and…
COVID-19 fund releases hit P355B
The Department of Budget and Management’s (DBM) releases for COVID-19 response amounted to P355.1 billion to date, with dole-outs given away to vulnerable sectors accounting for the bulk of the…
PH foreign trade shrank 60% in April
The Philippines’ total foreign trade fell at its fastest pace in April amid a global recession aggravated by the first full month of one of the most stringent COVID-19 lockdowns…
DA seeks P240-B budget for 2021
The Department of Agriculture (DA) is seeking a bigger share in the national budget next year to be able to “reboot” the sector following the adverse effects brought by lockdown…