The F&B sector was undoubtedly hard hit by the pandemic. Restaurant receipts are forecast to shrink from HK$26.0 billion to HK$23.6 billion in the span of Q1 (down by 9.2%, or 25.1% year-on-year). Also, it is worth noting that over the past decade from 2008 to 2019, the number of F&B operators (in terms of the number of licenses) has grown at a faster rate than that of restaurant receipts, by 50% as compared to 44%. The abrupt plunge in F&B business today suggests the current volume of operators is no longer sustainable amid the increased competition, and it is expected that around 1,000 operators may have to close their business within this year. … [Read more...] about Net office absorption shrinks by the most in a quarter in 18 years, pushing overall availability higher to 10%
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The Ministry of Industry and Trade reports that firms operating in the garment, leather and footwear, and woodwork processing sectors have been hit by a double impact from the ongoing COVID-19, after many of their buyers chose to delay delivery of signed orders in the months ahead. Moreover, the vast majority of buyers are currently declining to enter into to negotiations for new orders. … [Read more...] about BUSINESS NEWS HEADLINES APRIL 7
As the Covid-19 map gets covered by growing red circles, several countries still haven't registered a single case of infection, including one of the most repressive states in the world - Turkmenistan. Many experts are concerned its government may be hiding the truth, which could disrupt attempts to end the pandemic. … [Read more...] about Coronavirus: Why has Turkmenistan reported no cases?
President of the Confederation of Indonesian Trade Unions (KSPI) Said Iqbal has called on the government to prepare more measures to support workers who lose their jobs, such as providing money to workers and drivers. On the other hand, the government also needs to reduce interest rates on bank loans and taxes for tourism businesses to help them overcome the current hard time. … [Read more...] about Latest covid-19 news in Vietnam and Southeast Asia on April 7 (updated hourly)