Covid


Thai cabinet signs off $8.2bn relief package as third Covid wave hits 

Thai cabinet signs off $8.2bn relief package as third Covid wave hits 

The Thai government is to pump another 255 billion baht ($8.2 billion) into its Covid-hit economy, its Prime Minister Prayuth Chan-ocha announced this week.Thailand's cabinet rubber-stamped the relief package as a third wave of coronavirus infections hits the south-east Asian powerhouse.The latest outbreak has accounted for more than half of …

Continue reading

Covid stops play. India halts money-spinning IPL as virus peaks 

Covid stops play. India halts money-spinning IPL as virus peaks 

Cricket chiefs called a halt to the money-spinning Indian Premier League (IPL) on Tuesday as Covid-19 continued to rampage across the country.The sport’s biggest revenue-generating event – said to be worth $6.8bn – annually attracts the world’s top cricketing stars but had come under severe criticism for continuing as coronavirus …

Continue reading

India in talks to fast-track Pfizer vaccine with virus running amok 

India in talks to fast-track Pfizer vaccine with virus running amok 

The Indian government and drugs firm Pfizer are in urgent talks looking to find a "expedited approval pathway” for its Covid vaccine.Pfizer CEO Albert Bourla revealed the discussions were underway on Monday as he announced a donation of medicines to India worth more than $70 million. "Unfortunately, our vaccine is …

Continue reading

Markets this week: Virus hotspots in focus; PMIs to reveal Q2 start 

Markets this week: Virus hotspot in focus; PMIs unveil Q2 start 

(ATF) Economic eventsInvestor optimism this week will be capped by the surging coronavirus infection spread in many countries -- India, Japan, Thailand -– where it has staged a comeback. India in particular was seen as a big reopening trade with a 10%-plus economic rebound, but the record surge in daily …

Continue reading

Thai economy may lose $3 billion a month after new virus outbreak

Thai economy may lose $3.2 billion a month after new virus outbreak

(ATF) Thailand's economy could lose 100 billion baht ($3.2 billion) a month, a university warned on Thursday, as the country struggles with a third wave of the coronavirus. The University of the Thai Chamber of Commerce said the latest wave could reduce the number of workers by 149,000 a month, …

Continue reading

Investors wary amid renewed infections 

Investors wary amid renewed infections 

HONG KONG: Asian markets dawdled as the earnings season got underway with the spike in coronavirus cases in some countries raising questions about the economic rebound and made investors worry about valuations.India’s daily case count exceeded 200,000 for the sixth straight day and Thailand’s plans to resume its crucial tourism …

Continue reading

Bank of Korea holds off on interest rate rises as Covid fears persist 

Bank of Korea holds off on interest rate rises as Covid fears persist 

South Korea's central bank is determined to keep a lid on interest rates for now despite optimism about post-pandemic growth in the country and concerns over inflation.The Bank of Korea (BoK) kept its seven-day repurchase rate unchanged at 0.5% on Thursday amid worries that rising Covid case numbers could scupper …

Continue reading

Resurgent Covid threatens Indian rebound

Resurgent Covid threatens Indian rebound

(ATF) The first virus wave decimated India’s economy. Now the second threatens its credit rating.Moody’s Investors Service has warned that the resurgent coronavirus burning though the world’s largest democracy – and the restrictions being imposed to mitigate it – could force the ratings firm to give India a credit-negative assessment. …

Continue reading

New COVID cases weigh on bonds

New COVID cases weigh on bonds

(ATF) A recent rise in Chinese corporate bond returns halted Thursday, matching slackness in local stock markets, amid news of new COVID outbreaks.The ATF China Bond 50 Index as little changed at 106.70 after posting moderate gains in the previous three days. The pattern was repeated across the Corporate, Enterprise …

Continue reading

Biden’s bridge-building plan can happen without bridge building 

Biden’s bridge-building plan can happen without bridge building 

US President Jo Biden is preparing to push through his $2 trillion infrastructure plan with or without bipartisan support.Energy Secretary Jennifer Granholm said Biden would prefer that his plan had Republican backing but, if it doesn’t, he would probably use a procedural strategy called reconciliation to allow Democrats to pass …

Continue reading