Markets

SEOUL: South Korea on Tuesday (Mar 24) doubled a planned economic rescue package to 100 trillion won (US$80 billion) to save companies hit by the coronavirus and put a floor under crashing stocks and bond markets. The package includes 29.1 trillion won in loans to small- and medium-sized companies ......

WELLINGTON: New Zealand said on Tuesday (Mar 24) that retail banks will offer a six-month principal and interest payment holiday for mortgage holders and small business customers whose incomes have been affected by the economic disruption from COVID-19. The government and the banks will also ...

TOKYO: Japanese biopharmaceutical firm Anges Inc said on Tuesday (Mar 24) that it and Osaka University had completed development of a DNA vaccine against the new coronavirus and that it would begin testing it in animals soon.  Shares of Anges surged as much as 17 per cent in morning trade...

WASHINGTON/RIYADH: Finance ministers and central bankers from the world's 20 largest economies agreed on Monday (Mar 23) to develop an "action plan" to respond to a coronavirus pandemic that the IMF now expects to trigger a global recession, but they offered no specifics. The G20 secretariat ...

The pandemic is taking its toll on aerospace manufacturing, as Boeing Co announced it would halt production of most widebody jets and Airbus SE restarted only partial output after a four-day shutdown as suppliers cut jobs.

Wells Fargo & Co will join other large U.S. banks in paying out special compensation to front-line employees, according to a memo seen by Reuters.

U.S. Treasury Secretary Steven Mnuchin said on Monday that Republican and Democratic senators and Trump administration negotiators were nearing a deal on a coronavirus stimulus bill.

The dollar eased on Tuesday but remained near a three-year high against a basket of currencies as investors sought the world's main funding and settlement currency ahead of a sharp anticipated fall in cashflow.

Fast food is canceled in Britain.

SoftBank Group Corp shares were untraded with a glut of buy orders on Tuesday after the company announced up to US$41 billion (£35.52 billion) in asset sales and a record share buyback to shore up its collapsing share price.