The deadly COVID-19 virus has been looming over nations around the world, preying on victims since it first appeared last December in Wuhan, China. To date, more than eight million people have been infected globally and fatalities are inching towards the half million mark. Other than threatening our health, the coronavirus has also severely affected livelihoods, major industries and the economy in general.
The coronavirus crisis has severely affected numerous sectors, from aviation, and tourism, to oil and gas even property. The World Bank noted in its recent ‘Global Economic Prospects’ report that the pandemic has caused the broadest collapse of the global economy since 1870.
The coronavirus pandemic inflicted a "swift and massive shock" that has caused the broadest collapse of the global economy since 1870 despite unprecedented government support, the World Bank said Monday.The world economy is expected to contract by 5.2 percent this year - the worst recession in 80 years - but the sheer number of countries suffering economic losses means the scale of the downturn is worse than any recession in 150 years, the World Bank said in its latest Global Econom
When the COVID-19 virus first emerged in Wuhan, China – many didn’t think that the novel coronavirus would drastically change their lives indefinitely. As we enter the sixth month of the outbreak – livelihoods, major industries, local businesses and the economy in general have been severely affected due to the pandemic. Governments have ordered nationwide lockdowns, controlled movements and travel restrictions in order to contain the deadly virus.
Vietnam’s numbers are looking impressive so far in 2018. The country’s business environment grew tremendously at the start of the year with over 26,000 new enterprises established. In addition to that, the government there highlighted that foreign direct investment (FDI) disbursement reached over US$3.8 billion in the first three months of this year, up 7.2 percent from 2017.
The internet has changed the way we engage with television (TV) and video. Programmes, such as sports and news can be watched online, either by streaming ‘live’ or downloading it for later viewing. TV shows and movies can be viewed anytime, without having to wait for the broadcaster to deliver them. The term for this new entertainment platform is ‘video-on-demand’ (VOD).There is an anticipated surge in consumption and revenue in the next few years from over-the-top (OTT) media services.
The research arm of Switzerland-based business school, the International Institute for Management Development (IMD) recently released the results of its survey on the talent competitiveness of 63 countries from around the world. Based on the rankings, the Philippines managed to jump up to 49th place from 55th last year. Regardless of the jump, the ASEAN country, unfortunately, still performed the worst when compared to other bloc members.
It was reported recently that the ASEAN +3 Macroeconomic Research Office (AMRO) had given Myanmar’s economy a positive outlook for the fiscal year of 2019 to 2020, expecting it to expand by 7.1 percent up from 6.8 percent in the previous fiscal year.
Millions of people have had to cancel their 2020 travel plans due to the coronavirus crisis. Fuelled by virus fears while being urged to stay home – most people are avoiding any kind of travel which has further dampened the demand for air transportation, hotels and other tourism-related services. Over in ASEAN member state Malaysia, it’s no different.According to the country’s prime minister, Muhyiddin Yassin, COVID-19 has hit the nation’s tourism sector hard, with an expect
Numerous industries around the world have been hit hard by the coronavirus pandemic – some more than others. The aviation industry was one of the first sectors to feel the pinch from the deadly virus outbreak. Nationwide lockdowns, controlled borders and travel restrictions imposed by governments as preventative measures to contain the disease have resulted in significant reductions in passenger numbers.
The coronavirus crisis has disrupted businesses everywhere. From large corporations to start-ups and small vendors – industries are feeling the pinch from the pandemic. Sectors such as tourism and aviation have been hit especially hard.