Most emerging market currencies continued their advance against a weaker dollar on Wednesday, while Turkey’s lira fell more than 1% as concerns remained about the central bank’s depleted forex …
Turkey’s lira gives up gains, down 1% in more turbulence
Turkey’s lira on Wednesday weakened 1% against the dollar even as the U.S. currency slid, giving up gains from late the previous day when overnight rates in a London-based swap market topped 1,000%.
Turkey auto sales surge 380% in July after lockdown lifted
Sales of passenger cars and light commercial vehicles in Turkey surged 387.5% year-on-year in July, the Automotive Distributors Association said on Wednesday, reflecting a rash of purchases after the …
Turkish, Asian Banks Sign $200 Million Loan Agreement to Support Companies Affected by COVID-19 In Turkey
The Industrial Development Bank of Turkey (TSKB) and the Asian Infrastructure Investment Bank (AIIB) have signed a loan deal worth $200 million to suppo …
Japan Inc. Sticks With Bonus Commitments Despite Pandemic
Japan Inc. has largely stuck to bonus commitments made in March despite the escalation of the coronavirus pandemic since then, according to business lobby data.Individual bonuses for employees fell 2.
Indonesia finance minister keeps 2020 GDP outlook despite sharp Q2 contraction
Indonesia’s finance minister on Wednesday maintained the outlook of zero to 1% economic growth this year despite a weaker than expected second quarter. Sri Mulyani Indrawati told journalists she would …
Indonesia Economy Shrinks for First Time Since Asian Crisis
Indonesia’s economy contracted for the first time since the aftermath of the Asian Financial Crisis more than two decades ago, as movement restrictions to contain the coronavirus outbreak took a toll …
Entrée Resources Announces Second Quarter 2020 Results
VANCOUVER, BC, Aug. 4, 2020 /PRNewswire/ – Entrée Resources Ltd. (TSX: ETG) (OTCQB: ERLFF) (the “Company” or “Entrée”) has today filed its interim financial results for the second quarter ended …
Kuwait’s $112 Billion Fund Has Cash to Spend After Revamp
(Bloomberg) — Kuwait’s $112 billion pension fund plans … the unit was split into eight departments from three. Former Finance Minister Anas Al-Saleh triggered the restructuring process …
Sri Lanka’s economy contracts 1.6% in first quarter
(Reuters) – Sri Lanka’s economy contracted by 1.6% in the first quarter of 2020, government data showed, as lockdowns related to the COVID-19 pandemic battered a country still recovering from last …