The central bank has also cut its key interest rates four times this year by a total of 100 basis points to the lowest since at least 2016 when it adopted the rate as its benchmark, in efforts to support growth. … [Read more...] about Indonesia’s economy contracts for the first time since 1999 in second quarter
What happened 3 8 billion years ago
Toyota warns of 64% drop in full-year net profit
Its forecast of annual operating profit remained unchanged at 500 billion yen, down nearly 80 percent from the previous year. "The impact of COVID-19 is wide-ranging, significant and serious, and it is expected that weakness will continue for the time being," Toyota said in a statement. The warning came as Toyota reported a 74.3 percent plunge in net profit for the three months to June, with quarterly revenue down more than 40 percent. By region, operating profit in Japan dropped more than 80 percent in April-June, while it logged losses in North America and Europe. Carmakers around the world have been battered by the pandemic, with many relying on government help, as it slams the global economy into reverse and forces people to stay at home. "It was a tough quarter for all Japanese automakers. Toyota was no exception," said Satoru Takada, auto analyst at TIW, a Tokyo-based research and consulting firm. "Production is recovering from the pandemic impact, after hitting rock bottom … [Read more...] about Toyota warns of 64% drop in full-year net profit
Government fears more job losses to Covid-19 this year
In the third quarter Vietnam’s exports to its leading markets will be seriously affected. At the same time supply of feedstock needed for production is petering out due to the congestion in trade flows due to the impacts of Covid-19. … [Read more...] about Government fears more job losses to Covid-19 this year
Vinacas targets cashew exports of US$3.2 billion
The association explained that the negative impacts of the pandemic led to frequent delays in the time needed to transport the commodity from Western Africa to Vietnam. Moreover, the demand for cashew imports of local firms remained lower than in previous years, thus sending cashew imports down. … [Read more...] about Vinacas targets cashew exports of US$3.2 billion
Global uncertainties pushing gold prices to record highs
In the long term, the inflation risks from huge monetary and fiscal policies to cope with the pandemic also boost the demand for this safe haven asset. Gold prices zoomed to a record high last week, as a weakening US dollar injected new momentum into an upsurge driven by uncertainty about the world economy. … [Read more...] about Global uncertainties pushing gold prices to record highs
