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.
Singapore's virus-hit economy could shrink by as much as seven percent this year - the worst reading since independence - the government said on Tuesday, as it unveiled a fresh multi-billion-dollar stimulus package.The city-state is seen as a bellwether of the global economy, and the forecast historic contraction highlights the extreme pain being wrought on countries by the killer disease.The warning came as Singapore's deputy prime minister unveiled a fresh support package worth SG
Cambodia's largest commercial bank listed on the country's stock market Monday, the first lender to trade on the fledgling exchange, despite uncertainty caused by the coronavirus pandemic.ACLEDA Bank became the sixth firm to join the Cambodia Securities Exchange (CSX), which opened in 2011, joining a garment factory, two state-owned ports, and a special economic zone (SEZ). But initial fanfare for the kingdom's trading future has dimmed, with the country's lack of
Based on a 2019 study by Facebook and Bain & Company, a global management consulting firm, digital consumers in ASEAN will be spending three times as much in 2025.The joint study found that while consumers in Southeast Asia spent US$125 on average on online purchases in 2018, that sum is expected to more than triple to US$390 in 2025.Highlighting increasing choices, better internet access and rising affluence as factors that will continue to drive more spending online, the report also
Ant Financial, the Chinese operator of Alipay, announced its plans to invest US$73.5 million for a minority stake in Digital Money Myanmar Limited, a fintech company based in Myanmar locally known as Wave Money, the companies announced in a press release.Wave Money, a mobile financial services provider, allows users to send and receive money through a network of more than 57,000 agents or “Wave Shops” distributed across urban and rural areas covering approximately 89 percent of the country.&a
The coronavirus pandemic could cut up to 9.7 percent off the global economy, the Asian Development Bank (ADB) said last Friday, doubling its previous estimate as the virus stifles trade and leaves millions jobless.The estimated impact would cost as much as US$8.8 trillion based on a range of scenarios, but ADB said government interventions could help offset the losses inflicted by the crisis.
Malaysia's economy grew at its slowest pace in more than a decade during the first three months of the year as the coronavirus pandemic battered the country, but still managed to beat forecasts, data showed Wednesday.Gross domestic product grew 0.7 percent on-year in January-March, the central bank reported, compared with 3.6 percent growth in the previous quarter.It was the worst figure since the economy shrank in 2009 during the global financial crisis, but strong domestic consumption
The coronavirus pandemic, set to provoke a severe global recession this year, is hitting multinational companies disproportionately. Here is a list of winners and losers, according to a study published on Tuesday from the research unit of Italian bank Mediobanca, based on results from the first quarter of 2020. The Winners:InternetGlobal internet companies are the top performers, managing to maintain their momentum even during the worst of the coronavirus crisis.
In December 2018, Cambodian Senate president Say Chhum had encouraged the country’s youth to study hard in order to become future leaders. He made the comment during the opening ceremony of the Union of Youth Federations of Cambodia congress at a hotel in Phnom Penh. Chhum’s call certainly makes sense if one were to consider how young Cambodia’s population is.
Lockdowns and restricted movement control implemented by countries around the world due to the COVID-19 pandemic has seen people go berserk at hypermarkets, hoarding food supplies. As people are urged to self-isolate and stay home, there has been a surge of demand in food delivery services in Southeast Asia.
On 30 July, the Singaporean government announced that it would be starting a new programme to get more foreigners to work in Singapore. The programme removes any quota limitation for an Employment Pass (EP).
