Auto firms seek gov’t help as sales slump 48.7%
The automotive industry is now asking the Department of Trade and Industry (DTI) for support as the pandemic might lead to worse problems than just the much fewer car sales…
UK economy officially in recession after 20.4% Q2 slump
LONDON — The U.K. economy has officially fallen into a recession after official figures showed it contracting by a record 20.4% in the second quarter as a result of lockdown…
China’s trade rises as economy recovers from virus slump
A worker wearing a face mask to protect against the new coronavirus guides the loading of a shipping container at a container port in Qingdao in eastern China’s Shandong Province,…
The inevitable recession: PH expected to go through 4 quarters of slump
The Washington-based Institute of International Finance (IIF) expects the Philippines’ gross domestic product (GDP) to shrink year-on-year for all four quarters of 2020 and end the year with a 3-percent…
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…
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…
S. Korean duty-free operators grapple with pandemic-caused biz slump
Yonhap via The Korea Herald/Asia News Network SEOUL — South Korean duty-free shops are struggling to cope with an industry-wide slump as flight suspensions and a subsequent fall in the…
Exports, imports slump on supply chain disruptions
Global and domestic supply chain disruptions caused by the COVID-19 pandemic, which limited movement not only of people but also of goods, inflicted a sharp drop in the Philippines’ exports…
Imports slump as pandemic affects trade with China
Imports slid by more than a tenth in February as shipments from China—the Philippines’ top source of foreign-made goods—contracted at the onset of the COVID-19 pandemic. Preliminary figures released by…