Asia Business

Egypt's banks told to limit withdrawals and deposits

30/03 Egyptian banks have been instructed to apply temporary limits on daily withdrawals and deposits in a move seemingly designed to control inflation and hoarding during the coronavirus' spread.  Full story

Tencent-backed online education firm Yuanfudao raises $1 bln in new round

04h32 Chinese online education platform Yuanfudao said on Tuesday it has raised $1 billion in a new financing round, led by Tencent Holdings and private equity firm Hillhouse Capital Group.. . .  Full story

Tokyo lockdown would have 'huge' impact on economy - Nishimura

04h15 A lockdown of major Japanese cities like Tokyo and Osaka to halt the spread of the coronavirus would have a "huge" impact on the economy, Yasutoshi Nishimura, the country's economy minister, said on Tuesday.. . .  Full story

China March factory activity unexpectedly expands, but outlook still grim

04h10 Factory activity in China unexpectedly expanded in March after contracting sharply to a record low, but the rapid global spread of the coronavirus is expected to keep businesses and the overall economy under heavy pressure. . .  Full story

Pandemic to hit growth in Asia, China -World Bank

03h57 The coronavirus pandemic is expected to sharply slow growth in developing economies in East Asia and the Pacific as well as China, the World Bank said in an economic update on Monday.. . .  Full story

Japan PM, Deputy PM to avoid same meetings as precaution vs virus infection

03h56 Japan's prime minister and deputy prime minister will avoid attending the same meeting as a precaution against coronavirus infection, a government spokesman said on Tuesday.. . .  Full story

Japan's factory output slows, plunge seen as virus grips economy

03h49 Japan's industrial output rose in February at a slower pace than the previous month and factories expect production to plunge in March, adding to growing signs the coronavirus pandemic is taking a toll on. . .  Full story

China's service sector activity expands in March after virus shock - official PMI

03h19 China's services activity expanded in March after slumping to a record low the previous month, but business is expected to take some time to return to normal as the economy struggles to recover from. . .  Full story

G20 financial chiefs to discuss steps on virus Tuesday -Japan finmin

03h02 Financial leaders from the Group of 20 major economies will discuss ways on Tuesday to proceed with concrete steps to respond to the coronavirus, Japanese Finance Minister Taro Aso said.. . .  Full story

China cbank adviser suggests China not set GDP growth target this year

02h50 China should not set an economic growth target this year given the high level of uncertainty from the coronavirus pandemic and avoid having to resort to "flood-like stimulus" to meet the goal, a central. . .  Full story

Samsung says chip factory worker tests positive for virus, output not affected

02h22 Samsung Electronics Co Ltd said on Tuesday that one of its chip factory workers in South Korea had tested positive for coronavirus, but its output has not been affected.. . .  Full story

Japan Feb retail sales rise 1.7% year/year

01h53 Japanese retail sales rose 1.7% in February from a year earlier, compared with a median market forecast for a 1.2% decline, government data showed on Tuesday.. . .  Full story

Japan's jobless rate steady at 2.4% in February - govt

01h33 Japan's jobless rate held steady while the availability of jobs dropped in February, government data showed on Tuesday.. . .  Full story

S.Korea's Feb factory output contracts most in over 11 years

01h28 South Korea's factory output contracted at its sharpest pace in more than 11 years in February, official data showed on Tuesday, adding to evidence of a sharp economic blow from the coronavirus pandemic.. . .  Full story

S.Korea business sentiment suffers worst monthly fall in 17 years

30/03 South Korean businesses sentiment suffered its worst monthly fall in 17 years as firms fretted over the coronavirus pandemic and the impact on demand at home and from abroad, a central bank survey showed.. . .  Full story

G20 trade ministers meet by video to tackle coronavirus disruptions

30/03 Trade ministers from the Group of 20 major economies agreed on Monday to keep their markets open and ensure the continued flow of vital medical supplies, equipment and other essential goods as the world battles. . .  Full story

Israel to spend 80 bln shekels to help economy cope with coronavirus crisis

30/03 Israel will spend 80 billion shekels ($22 billion) to help the economy weather the coronavirus crisis and the finance minister said he expected a gradual return of business activity after the Passover holiday next month.. . .  Full story

Egypt's Sisi calls for boost of strategic food reserves during coronavirus outbreak

30/03 Egyptian President Abdel Fattah al-Sisi has told the relevant authorities to boost strategic reserves of staple goods, a presidency spokesman said on Monday, as global concerns about food security rise amid the coronavirus crisis.. . .  Full story

Egypt's 2020-21 draft budget is based on oil at $61 per barrel

30/03 Egypt's 2020-21 draft budget is based on an oil price of $61 per barrel, the finance ministry said on Monday, down from $68 in the current budget which ends on June 30 but around. . .  Full story

Thai central bank further expands scope of liquidity support

30/03 Thailand's central bank said on Monday it has further expand the to scope of a facility set up to provide liquidity to mutual funds and is ready to consider additional measures to ensure that. . .  Full story

Egypt's current account deficit narrows in Q4 of 2019

30/03 Egypt's current account deficit for the last quarter of 2019 narrowed to $3.19 billion from $3.25 billion in the same quarter of 2018, according to central bank data released on Monday.. . .  Full story

Kazakhstan to introduce quotas on wheat and flour exports

30/03 Kazakhstan will introduce quotas on its exports of wheat and flour and lift the ban on flour exports introduced this month to ensure steady domestic supply amid the coronavirus crisis, the Kazakh Agriculture Ministry said. . .  Full story

India may slash borrowing from market in April amid lockdown -sources

30/03 India may slash or even cancel its planned borrowings from the market for April amid a nationwide lockdown prompted by the coronavirus outbreak, two finance ministry sources told Reuters.. . .  Full story

flydubai to reduce staff pay for three months due to coronavirus

30/03 United Arab Emirates carrier flydubai will reduce pay for its employees for three months from April due to the impact of the global coronavirus crisis on its business, a spokeswoman said on Monday.. . .  Full story

Egypt central bank seen keeping interest rates on hold this week

30/03 Egypt's central bank is expected to leave its main interest rates unchanged this week as it weighs the impact of an emergency 300 basis point cut two weeks ago to soften the economic impact. . .  Full story

Saudi Arabia's wheat strategic reserves exceed 1 mln tonnes -official

30/03 Saudi Arabia's strategic reserves of wheat exceeds 1 million tonnes and the country plans to start importing at least 1.2 million tonnes more as of next month, the Agriculture Ministry's spokesman said on Monday.. . .  Full story

China's big banks flag asset pressure due to virus, boding ill for smaller kin

30/03 China's largest state banks said the impact of restrictions on movement imposed to slow the spread of the coronavirus could pull down asset quality as borrowers struggle to repay loans, though they are likely. . .  Full story

Saudi Arabia plans to boost oil exports to 10.6 mln bpd from May

30/03 Saudi Arabia plans to boost its oil exports to 10.6 million barrels per day from May because the country is burning less oil for power generation and there is also lower domestic consumption, a. . .  Full story

Cambodia to ban some rice exports due to coronavirus

30/03 Cambodia will ban some rice exports to ensure local food security during the coronavirus crisis, Prime Minister Hun Sen said on Monday, the latest country to curb food exports because of the pandemic.. . .  Full story

South Korea to pay families hundreds of dollars to ease coronavirus impact

30/03 South Korea will make emergency cash payments to all but the richest families and draw up a second supplementary budget next month in a bid to ease the drawn-out economic impact of the coronavirus. . .  Full story

Thailand earmarks further $15 billion for coronavirus crisis

30/03 Thailand's new stimulus package to alleviate the impact of the coronavirus crisis will be worth more than 500 billion baht ($15.3 billion), its finance minister said on Monday,. . .  Full story

Japan ruling party eyes 100 trillion yen stimulus to battle coronavirus

30/03 Japan's ruling party called for stimulus worth a total of 100 trillion yen ($926 billion), or 16-17% of economic output, to combat the hit to the economy from the coronavirus, with the government set. . .  Full story

Coronavirus sees China's Geely Automobile facing one of toughest years

30/03 China's Geely Automobile Holdings Ltd said on Monday 2020 may be one of its toughest years yet, as pressure stemming from the coronavirus outbreak on production and sales persists.. . .  Full story

Asia Distillates-Gasoil buyers get biggest cash discounts in nearly 15 months

30/03 Asia's cash discounts for 10 ppm gasoil widened on Monday, dropping to their lowest level in more than a year, hurt by lacklustre demand for the industrial and transportation fuel amid lockdowns and. . .  Full story

Activist investor ValueAct takes 7% stake in Japanese chip materials maker

30/03 U.S. hedge fund ValueAct Capital has become a major shareholder in Japanese chip and display materials maker JSR Corp with more than a 7% stake, as activist investors are increasingly targeting cash-rich Japanese companies.. . .  Full story

SE Asia Stocks-Markets fall as virus spreads further; Singapore drops over 4%

30/03 Southeast Asian stock markets closed lower on Monday as rising cases of the coronavirus in the region deepened fears of economic damage, with investors looking past moves by governments and central banks to combat. . .  Full story

Malaysia widens fiscal deficit target after coronavirus stimulus measures

30/03 Malaysia expects its fiscal deficit to widen to 4% of gross domestic product this year because of the $58 billion stimulus measures announced to counter the impact of the coronavirus pandemic on the economy, the. . .  Full story

Japan ruling party to propose stimulus package worth 16-17% of GDP, policy chief says

30/03 Japan's ruling Liberal Democratic Party will propose a stimulus package totalling 16% to 17% of gross domestic product amid the coronavirus outbreak, its policy chief said on Monday.. . .  Full story

China's LPG futures tank on debut, trading volumes robust

30/03 China's liquefied petroleum gas (LPG) futures fell on their debut on the Dalian Commodity Exchange on Monday, dropping as much as 10% after oil prices hit an 18-year low on fears lockdowns to curb. . .  Full story

Oil tanker rates double as demand for storage and transport resurfaces

30/03 Supertanker freight rates are on the rise for a second time this month as producers, refiners and traders scramble to secure ships to transport crude or store a fast-growing global glut of oil, industry. . .  Full story

Hong Kong stocks fall on coronavirus' economic toll

30/03 Hong Kong stocks settled lower on Monday as investors braced for a deep recession in the global economy with more countries tightening or imposing lockdowns to contain the spread of the coronavirus outbreak.. . .  Full story

China's reports African swine fever case in piglets transported to Inner Mongolia

30/03 China said on Monday a new case of African swine fever was found in piglets illegally transported to the Inner Mongolia region.. . .  Full story

Tailings dam spill at Chinese molybdenum miner threatens local water supply

30/03 China's northeastern province of Heilongjiang said a tailings dam leak at a molybdenum mine over the weekend threatened to contaminate the local water supply and that it had launched an emergency response.. . .  Full story

China shares end lower as investors take stock of global shutdowns

30/03 China stocks ended lower on Monday as investor concerns over coronavirus-driven global shutdowns overshadowed an unexpected rate cut by the country's central bank.. . .  Full story

Thai Airways may cut some plane types for good after grounding jets

30/03 Thai Airways International Pcl may permanently reduce the number of aircraft types it deploys once the coronavirus outbreak that has caused the company to ground most of its fleet ends, said a senior government official. . .  Full story

Algeria says food stocks enough for months

30/03 Algeria has enough food to meet its needs for the next few months despite a surge in demand since the start of the coronavirus outbreak, officials said on Sunday.. . .  Full story

Japanese shares drop on fears of coronavirus forcing Tokyo into lockdown

30/03 Japanese stocks retreated on Monday as the coronavirus outbreak worsened over the weekend and more countries imposed or tightened lockdown measures, raising fears that Tokyo could also go into its first-ever lockdown.. . .  Full story

Cambodia PM orders casinos shut down as coronavirus cases climb

30/03 Cambodian Prime Minister Hun Sen on Monday ordered all casinos to close to curb the spread of the coronavirus.. . .  Full story

Japan to boost govt bond issuance by $149 bln to fund stimulus - sources

30/03 Japan will boost government bond issuance by $149 billion from July to fund a massive stimulus package aimed at combating the hit to the economy from the coronavirus pandemic, two government sources told Reuters. . .  Full story

China's BAIC, Didi plan car leasing service amid new car sales slowdown

30/03 Chinese automaker BAIC Group and ride-hailing service provider Didi Chuxing plan to team up with other industry players to lease BAIC's cars to customers amid concerns about ride hailing and vehicle sharing eating into car. . .  Full story

JGBs tick up on Tokyo lockdown concerns

30/03 Japanese government bond prices gained on Monday, as rising coronavirus infection cases in Tokyo fuelled worries that the government could shut down the capital and deepen an almost inevitable recession in the economy.. . .  Full story

Sinopec expects lower 2020 refining runs as coronavirus hits demand

30/03 Asia's top refiner China Petroleum Chemical Corp , or Sinopec, expects its full-year 2020 refining runs will be lower than in 2019 because of a contraction in Chinese fuel demand caused by the coronavirus outbreak.. . .  Full story

China, HK shares drop as investors take stock of global shutdowns

30/03 China and Hong Kong stocks fell on Monday as investor concerns over coronavirus-driven global shutdowns overshadowed an unexpected rate cut by the country's central bank.. . .  Full story

Ukraine weekly seaport grain exports fall sharply - APK-Inform

30/03 Ukrainian grain exports from sea ports fell sharply to 774,000 tonnes in the week of March 21-27, from 1.264 million tonnes a week earlier, preliminary data from the APK-Inform consultancy showed on Monday.. . .  Full story

China unexpectedly cuts reverse repo rate by most in 5 yrs to support virus-hit economy

30/03 China's central bank unexpectedly cut the rate on reverse repurchase agreements by 20 basis points on Monday, the largest in nearly five years, as authorities ramped up steps to relieve pressure on an economy ravaged. . .  Full story

Indian shares fall as domestic coronavirus cases cross 1,000

30/03 Indian shares edged lower on Monday morning as the number of coronavirus infections in Asia's third-largest economy showed no signs of slowing in spite of a nationwide lockdown.. . .  Full story

S.Korea exports to grow for 2nd month but recovery at risk

30/03 South Korea's exports likely expanded for a second month in March helped by solid chip demand and as China's factories resume operations, but the global coronavirus spread will spoil chances for a sustained recovery, a. . .  Full story

Tokyo shares slide as coronavirus outbreak takes toll

30/03 Japanese stocks fell on Monday as the coronavirus outbreak worsened over the weekend and more countries imposed lockdown measures, raising fears that Tokyo could also go into lockdown.. . .  Full story

China still has ample room for monetary policy adjustment, c.bank adviser says

30/03 China still has ample room for monetary policy adjustment, a central bank adviser said on Monday.. . .  Full story

S.Korea to draw up second extra budget, give cash payments to many families as virus relief

30/03 South Korea's President Moon Jae-in said on Monday that the government will provide emergency cash payments to many famililes and draw up a second supplementary budget soon to ease the economic impact of the coronavirus. . .  Full story

STATE MEDIA

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China may issue new policies to stimulate auto demand - vice industry minister

30/03 China may issue new policies to stimulate demand for automobiles, with the country's auto industry still facing difficulties, Xin Guobin, vice minister of industry and information technology, said on Monday.. . .  Full story

EXCLUSIVE-India's Reliance seeks to sell Mideast crude cargoes in rare move

30/03 India's Reliance Industries Ltd is seeking to sell some April-loading crude cargoes in a rare move as it plans to cut crude processing after the coronavirus pandemic hit global fuel demand, four sources said on. . .  Full story

China's central bank unexpectedly cuts reverse repo rates by 20 bp to support economy

30/03 China's central bank unexpectedly lowered the interest rate on reverse repurchase agreements by 20 basis points on Monday, as authorities stepped up easing measures to relieve pressure on the economy that has been hit hard. . .  Full story

China's Xi says will adjust policies to protect smaller firms from virus impact- state TV

30/03 Chinese President Xi Jinping said the government will adjust support policies for small and medium-sized firms promptly as the situation develops to protect them from the impact of the coronavirus, Chinese state television reported on. . .  Full story

BOJ says ready to relax capital, liquidity requirements for banks

30/03 In the wake of the coronavirus outbreak, the Bank of Japan on Monday reiterated its stance that it was ready to relax some requirements financial institutions must meet to participate in its market operations.. . .  Full story

New Zealand central bank gives more liquidity to companies

29/03 The Reserve Bank of New Zealand (RBNZ) said on Monday that it was deploying more tools to provide additional liquidity to the corporate sector and support market functioning to offset the impact of the coronavirus.. . .  Full story

Turkish central bank predicts strong growth despite coronavirus

29/03 Turkey's central bank expects high first-quarter growth thanks to a strong January and February, its deputy governor was quoted as saying on Sunday, as the nation battles to contain the coronavirus.. . .  Full story

Dubai property group Limitless seeks advisers for restructuring - document

29/03 Dubai-based property developer Limitless told its creditors last week that it is looking to appoint legal and financial advisers to work on a financial restructuring plan, a company document seen by Reuters showed.. . .  Full story

Saudi Arabia's coronavirus death toll doubles to 8 -spokesman

29/03 Saudi Arabia recorded four new fatalities from the coronavirus, bringing its death toll to eight, the health ministry spokesman told a news conference on Sunday.. . .  Full story

Israel eases capital requirements so banks can lend more to economy

29/03 Israel has eased banks' capital requirements so they can lend more to businesses and households that have been hit hard by a government lockdown aimed at curbing the spread of the coronavirus.. . .  Full story

Qatar Airways says it will need state support as cash runs out

29/03 Qatar Airways will have to seek government support eventually, Chief Executive Akbar al-Baker told Reuters on Sunday, warning that the Middle East carrier could soon run out of the cash needed to continue flying.. . .  Full story

China Construction Bank Q4 profit beats view, warns of virus impact risks

29/03 China Construction Bank Corp (CCB) posted on Sunday a better than expected 2.1% rise in fourth-quarter net profit, with its soured loans ratio holding steady.. . .  Full story

China's Sinopec cuts 2020 capital spending by 2.5%

29/03 Asia's top refiner China Petroleum & Chemical Corp, or Sinopec, will trim capital expenditures in 2020 by 2.5% from a year earlier amid plunging oil prices and tepid fuel demand caused by the coronavirus outbreak.. . .  Full story

Qatar Airways CEO says will keep flying but warns cash is running out

29/03 Qatar Airways will continue to operate flights as long as necessary to get stranded travellers home, Chief Executive Akbar al-Baker told Reuters on Sunday, but warned that the carrier could soon run out of. . .  Full story

Algeria's annual inflation slips in February

28/03 Algeria's annual inflation fell to 1.8% in February from 1.9% in January due to lower prices for some foodstuffs, official data showed on Saturday.. . .  Full story

Japan's Abe vows unprecedented stimulus as Tokyo coronavirus cases rise

28/03 Japan's Prime Minister Shinzo Abe on Saturday promised an unprecedented package of steps to cushion the world's third-biggest economy from the coronavirus pandemic, saying the country was close to a national emergency as infections surged.. . .  Full story

China readies stimulus measures as local virus cases dwindle

28/03 China plans stronger steps to revive an economy hit by coronavirus, as the nation on Saturday reported no new locally transmitted infections for the previous day.. . .  Full story

India's electricity use falls to lowest in five years due to lockdown

28/03 India's electricity use plummeted to levels last recorded in March 2015, government data showed on Saturday, due to a nationwide lockdown to arrest the spread of the coronavirus.. . .  Full story

S&P cuts DAMAC's rating, puts Emaar Properties, Emaar Malls on creditwatch

28/03 S&P Global Ratings has downgraded Dubai's DAMAC Properties to B from B+ and placed the BBB-(minus) ratings of Emaar Properties and Emaar Malls on creditwatch with negative implications, the ratings agency said in a statement.. . .  Full story

Morocco to spend $200 million to brace health system for coronavirus

28/03 Morocco will spend an initial 2 billion dirhams ($200 million) to help its health system cope with the coronavirus outbreak, the finance ministry said on Friday as the number of confirmed. . .  Full story

S&P cuts Oman rating deeper into junk, trims Bahrain's outlook

28/03 Rating agency S&P has lowered crude producer Oman's sovereign ratings deeper into junk territory, citing external challenges, and changed the outlook for Bahrain's ratings to stable from positive due to the country's dependence on oil. . .  Full story

Japan's Abe pledges 'unprecedented' stimulus to combat virus fallout

28/03 Japanese Prime Minister Shinzo Abe said on Saturday his government will compile an unprecedentedly big economic stimulus that will include cash payouts to households and small firms hit by the fallout from the coronavirus pandemic.. . .  Full story

-Morocco to spend $200 million to brace health system for coronavirus

27/03 Morocco will spend an initial 2 billion dirhams ($200 million) to help its health system cope with the coronavirus outbreak, the finance ministry said on Friday as the number of confirmed cases in the. . .  Full story

India's largest lender SBI slashes lending and deposit rates

27/03 India's largest lender, State Bank of India, on Friday slashed its lending and deposit rates, a rare move that followed on the heels of an Indian central bank rate cut to tackle the economic. . .  Full story

Japan's ANA considering loan of around 100 billion yen -two sources

27/03 Japanese airline operator ANA Holdings is considering a loan of around 100 billion yen ($925 million), two sources familiar with the matter told Reuters on Friday, as it looks to ride out the devastating impact. . .  Full story

Asia Gold-Virus-led supply woes plague market; India trading stalls

27/03 Physical gold dealers struggled to meet surging safe-haven demand this week, especially in Singapore, as the coronavirus outbreak choked global supply chains, while massive discounts were offered in India amidst a lockdown.. . .  Full story

Saudi says no talks with Russia over more OPEC+ countries or joint pact

27/03 A Saudi Arabian energy ministry official said on Friday there had been no contact between the Saudi and Russian energy ministers over any increase in the number of OPEC+ countries, nor any discussion of. . .  Full story

Epidemic impact on China's economy controllable despite added pressure -c.bank

27/03 The impact of the coronavirus epidemic on China's economy is generally controllable and the fundamentals remain resilient, the country's central bank said in a statement on Friday.. . .  Full story

S&P lowers Kuwait but affirms Saudi, Qatar ratings despite lower oil prices

27/03 S&P Global Ratings cut the rating of the government of Kuwait by one notch this week due to the economic and fiscal effects of lower oil prices, but affirmed those of Qatar and Saudi. . .  Full story

India's Reliance seeks to sell Mideast crude cargoes in rare move

27/03 India's Reliance Industries Ltd is seeking to sell some April-loading crude cargoes in a rare move as it plans to cut crude processing after the coronavirus pandemic hit global fuel demand, four sources said on. . .  Full story

India's Haldia shuts naphtha cracker after ports declare force majeure

27/03 India's Haldia Petrochemicals has shut its naphtha cracker, a person familiar with the matter said, after ports in the country declared force majeure to prevent the spread of the coronavirus.. . .  Full story

Asia Distillates-Jet fuel cracks post weekly drop, front-month spread widens

27/03 Asian refining margins for jet fuel climbed on Friday, while front-month spread for the aviation fuel widened its contango amid market concerns that demand would likely remain muted through the first half of. . .  Full story

Three of China's big banks beat profit estimates, warn of coronavirus impact

27/03 Three of China's listed state-owned banks reported forecast-beating fourth-quarter results on Friday, as non-performing loan ratios held steady.. . .  Full story

India's Nifty ends higher on rate cut but logs sixth week of declines

27/03 India's Nifty blue-chip index closed slightly higher on Friday after wild swings late in the session, as the country's central bank slashed interest rates to counter the economic damage from a 21-day lockdown aimed at. . .  Full story

Malaysia announces $58-bln stimulus package to cushion impact of coronavirus

27/03 Malaysia announced a stimulus package worth 250 billion ringgit ($58.28 billion) on Friday, its second in a month, to help cushion the economic blow from the coronavirus pandemic.. . .  Full story

Shanghai aluminium stocks fall for 1st time in 2020; lead at 15-month low

27/03 Aluminium stocks monitored by the Shanghai Futures Exchange (ShFE) have fallen for the first time in three months, data showed on Friday, although experts say this does not necessarily mean China's coronavirus-hit demand is catching. . .  Full story

Vietnam's Q1 economic growth slips to 10-yr low; trade surplus $2.81 bln

27/03 Vietnam's economy grew at its slowest pace in a decade in the first quarter, hit by a coronavirus pandemic and the sluggish global economy, government data showed on Friday.. . .  Full story

Thai refiner Bangchak processes less crude in Q1 - data

27/03 Thailand's Bangchak Corp PCL has reduced run rates at its refinery in Bangkok in the first quarter, data provided by the company showed on Friday.. . .  Full story

SE Asia Stocks-Most finish week on a high note on hopes of further stimulus

27/03 Most Southeast Asian stock markets rose on Friday on expectations of further stimulus to counter the economic blow from the coronavirus outbreak, especially after data showed a surge in U.S. unemployment filings.. . .  Full story

Singapore Airlines obtains $13 bln rescue package amid coronavirus shock

27/03 State investor Temasek Holdings and others put together a funding package of up to S$19 billion ($13.27 billion) for Singapore Airlines (SIA) in the single biggest rescue for an airline slammed by the coronavirus pandemic.. . .  Full story

Indian farmers, consumers suffer as lockdown disrupts supply chain

27/03 A three-week lockdown in India aimed at stopping the coronavirus is preventing perishables from reaching its teeming cities, pushing up prices and forcing some farmers to feed their ripening produce to their animals instead.. . .  Full story

China to boost vegetable output amid food security concerns

27/03 China is expanding its vegetable production this year to counter worries about food supplies following the coronavirus epidemic, said an agriculture official on Friday.. . .  Full story

JFE to cut steel capacity, predicts record loss

27/03 JFE Holdings Inc said on Friday it would cut steel capacity by 13% by shutting a blast furnace by March 2024 and predicted a record annual loss because demand has been hit by the. . .  Full story

Malaysia has rice stocks for 2.5 months as Vietnam curbs exports

27/03 Malaysia's has enough rice to last two and a half months, the Ministry of Agriculture and Food Industry told Reuters on Friday, after Vietnam suspended exports to feed its own people amid the coronavirus epidemic.. . .  Full story