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Bloomberg India’s latest set of incentives to entice businesses moving away from China seem to be working, with companies from Samsung Electronics Co to Apple Inc’s assembly partners showing interest in investing in the South Asian nation. Prime Minister Narendra Modi’s government in March announced incentives that make niche firms — electronics manufacturers — eligible for a payment of 4%-6% ...

Bloomberg Japan’s economy suffered a record contraction last quarter as a state of emergency and lockdowns in the country’s major export markets hammered consumer spending, production and exports. A recent uptick in infections threatens to slow the recovery. Gross domestic product contracted an annualised 27.8% in the three months through June from the previous quarter, the Cabinet Office reported on ...

Bloomberg Thailand’s economy contracted the most in more than two decades, deepening its recession as the nation’s key drivers of trade and tourism remain hobbled by the global coronavirus pandemic. Gross domestic product (GDP) shrank 12.2% from a year ago, the National Economic and Social Development Council said on Monday, its biggest decline since the Asian financial crisis in 1998. ...

Bloomberg China’s economic recovery continued in July with industrial growth remaining steady, even as weak retail sales undercut the rebound. Industrial output rose 4.8% in July from a year earlier, the same as in June, but lower than economists’ expectations. Overall retail sales fell 1.1%, compared to a projected 0.1% increase. The July data show that China’s recovery is still ...

Bloomberg Singapore could consider opening its borders to tourists in an effort to attract more traffic into its once-bustling airport. The city-state could unilaterally allow passengers from certain countries or regions that have kept virus cases at similar or lower levels than Singapore, Ong Ye Kung, the newly appointed transport minister, said in a speech to his staff, without naming ...

Bloomberg German Finance Minister Olaf Scholz proposed extending job-preserving subsidies during the coronavirus crisis to 24 months, saying the measure would cost the government an extra $12 billion. Chancellor Angela Merkel’s government re-launched short-time compensation to shield workers and companies in Germany from massive job cuts during the pandemic. The benefit, normally limited to 12 months, initially covers as much ...

Bloomberg The UK housing market saw a surge in activity last month after a government tax break pushed sales to the highest in more than a decade, according to Rightmove. The property website said the number of agreed sales jumped in July, with the value hitting $48 billion. That’s the most since Rightmove began tracking the data over 10 years ...

Bloomberg California is bracing for another round of targeted blackouts on Monday as a heat wave continues to smother the region and power supplies run low. While the state’s grid operator said no outages were planned for Sunday night —sparing the region a third consecutive night of blackouts —the respite may be fleeting. The California Independent System Operator has warned ...

Bloomberg The Panama Canal is seeing signs of a rebound in global trade as ship transits recover from the depressed levels caused by the pandemic. Total transits through the waterway rose to 933 in July, from 845 in June, which was the fewest since the canal opened an expanded set of locks four years ago to accommodate bigger ships. Initial ...

Bloomberg Peru’s economy contracted less severely than expected in June after the government scaled back lockdown restrictions, even as the country became a global hotspot for coronavirus. Economic activity fell 18.1% from a year earlier, the country’s statistics agency said. The median estimate of economists surveyed by Bloomberg News was for a drop of 25.9%. Industries such as mining, fishing ...