April, 2020

• 11 April

  Hong Kong is catching up to Singapore in virus stimulus

  

  Bloomberg Hong Kong is catching up with global peers in its fiscal response to the coronavirus outbreak with the announcement of an “unprecedented” HK$137.5 billion ($17.7 billion) stimulus package focussed on avoiding mass job losses. The fresh stimulus raises inevitable comparisons with spending measures unveiled by its geographic neighbour and financial-hub rival Singapore, with the two governments among the first ...

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• 11 April

  Covid-19: Doctors see high mortality in Philippines, Indonesia

  

  Bloomberg Doctors are accounting for a large proportion of deaths from Covid-19 in the Philippines and Indonesia, two of the most medically under-served nations in Southeast Asia. At least 26 doctors have died in Indonesia out of the country’s toll of 240 while in the Philippines about a dozen have passed away among the 182 fatalities, according to the latest ...

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• 11 April

  Entrepreneurs worst hit by virus impact in Malaysia

  Bloomberg Freelancers and entrepreneurs are the worst hit by the coronavirus pandemic’s impact on Malaysia. Statistics department found 46.6% of self-employed workers lost their livelihood while 23.8% of entrepreneurs reported the same, according to a March 18-31 survey. Among the sectors, agriculture was most affected with 21.9% of respondents saying they’ve lost their jobs, followed by services industry with 15%. ...

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• 11 April

  Thailand explores borrowing of $30.6b to finance stimulus

  

  Bloomberg Thailand said it will explore domestic and foreign funding options for planned borrowing of 1 trillion baht ($30.6 billion) to finance a major economic stimulus programme. The debt is a key element of a 1.9-trillion-baht package to help low-income households, farmers and companies reeling from the impact of the novel coronavirus outbreak. Southeast Asia’s second-largest economy may contract 5.3% ...

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• 11 April

  Villagers turn away relatives as virus scare grips rural India

  

  Bloomberg In the villages of India’s most populous state of Uttar Pradesh, even some family members returning home from the cities aren’t allowed in. State officials have told village councils to keep returning labourers from entering the town or meeting people due to fears they may be infected with the coronavirus. Instead, they’re forced to stay in schools or farms ...

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• 11 April

  Trump exhorts allies to ‘Buy American’ first

  

  Bloomberg The Trump administration has a plan for helping drain US storage tanks filling up with crude: Persuade other countries to buy those American barrels first. That “Buy American” pitch is coming in the form of administration officials exhorting foreign allies to prioritise US crude. The effort involves both the departments of Energy and State, said two people familiar with ...

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• 11 April

  Australia to boost oil stock in support of global market

  

  Bloomberg Australia will increase its oil stock through an agreement with the US to help support the global market, following a video conference with G-20 energy ministers. Energy markets in Australia were operating safely and securely and the government is working with the sector to maintain supply for electricity, gas and liquid fuels, Energy Minister Angus Taylor said in a ...

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• 11 April

  Cairn, Pharos advance in Shell Egypt assets deal

  

  Bloomberg A consortium of Cairn Energy Plc, Pharos Energy Plc and Egypt’s Cheiron Petroleum has proceeded to a second round of bidding for Royal Dutch Shell Plc’s onshore assets in the African country, in a deal that could value the business at as much as $1 billion, people familiar with the matter said. Shell is proceeding with the planned sale ...

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• 11 April

  Nigeria ending fuel subsidies

  Bloomberg Nigeria is ending decades of subsidies paid to ensure uniform gasoline prices in Africa’s biggest oil producer with crude prices at historical lows, the state-owned energy company said. Official gasoline prices have been cut twice in as many weeks, a move the Nigerian National Petroleum Corp (NNPC) said was intended to bring them in line with the current market ...

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• 11 April

  EU finance chiefs agree on $590b virus rescue package

  

  Bloomberg European Union (EU) finance ministers agreed on a 540 billion-euro ($590 billion) package of measures to combat the economic fallout of the global coronavirus pandemic. It’s now up to EU leaders to approve the accord, which will require overcoming profound political disagreements. In an emergency teleconference, finance chiefs approved a plan to stave off what’s expected to be a ...

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