China's big banks brace for surge in bad loans
Aug 31, 2020 11:31 am UTC| Economy
Four of Chinas five largest state-owned banks have increased provisions against bad debt to prepare for future losses due to the impact of the pandemic. All five suffered the biggest profit losses in at least a decade...
India PM urges entrepreneurs to boost the toy industry
Aug 31, 2020 08:50 am UTC| Economy
Prime Minister Narendra Modi said India could become a global toy hub and urged young entrepreneurs to team up for toys as part of the governments vocal for local initiative. According to Modi, while the global toy...
Stricter distancing to push S.Korea's small businesses into brink of bankruptcy: expert
Aug 31, 2020 06:56 am UTC| Economy
Yonsei University economics professor Kim Jung-sik warned that prolonged social distancing measures will push small business operators and private companies to the brink of bankruptcy, prompting an increase in bad loans,...
Most Japanese firms against holding Tokyo Olympics in 2021
Aug 31, 2020 02:55 am UTC| Economy
Over half of 12,857 Japanese companies that Tokyo Shoko Research surveyed between July 28 and Aug. 11 are against holding the Tokyo Olympics and Paralympics in the summer of 2021. Of the 53.6 percent not in favor of...
Coca-Cola to cut thousands of jobs due to plunging sales
Aug 29, 2020 07:32 am UTC| Economy
Coca-Cola Co joined a list of big US companies laying off thousands of workers after reporting a 28 percent slump in sales last month due to the effects of the pandemic. The company was offering voluntary redundancy to...
Over two-thirds of S. Korean SMEs suffer sales setbacks
Aug 29, 2020 02:12 am UTC| Economy
Seventy-seven percent of 1,000 South Korean small- and medium-sized enterprises (SMEs) that have sold at least 100 million won in value claimed sales drops following the coronavirus outbreak in February. In a survey,...
Indian farmers turn to illegal moneylenders as banks avoid risks
Aug 28, 2020 06:39 am UTC| Economy
Indian farmers are turning to illegal moneylenders charging exorbitant rates as banks are shunning them due to rising bad loans. Higher interest rates are pulling down farm earnings, which are key to reviving the...
South Africa’s plan to move away from coal: 8 steps to make it succeed
Germany lowers voting age to 16 for the European elections
IceCube researchers detect a rare type of energetic neutrino sent from powerful astronomical objects