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 ... ( read original story ...)
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 ... ( read original story ...)
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%. ( read original story ...)
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 ... ( read original story ...)
Hong Kong business activity slumps further in July amid virus spike
HONG KONG (Xinhua): A private survey showed Wednesday (Aug 5) that the business activity contracted further in Hong Kong as the worsening Covid-19 epidemic weighed on business confidence. The ... ( read original story ...)
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. ( read original story ...)
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 ... ( read original story ...)
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 ... ( read original story ...)
Kuwait’s $112bn pension fund has cash to burn after revamp
The Public Institution for Social Security had a record investment profit of $7.3 billion in the three months through June Kuwait’s $112 billion pension fund plans to boost investments in private ... ( read original story ...)
Kuwait Starts Laying Off Expats Working in the Public Sector
Several Kuwaiti government ministries have started to lay off expatriate workers, according to a report on Tuesday by Al-Rai newspaper. ( read original story ...)