“The lost production probably will be made up over the remainder of this year. But some service sector activity simply will be lost... people aren’t going to get their hair cut twice because they missed getting it cut in Q1, or buy two coffees to make up for missed consumption.” … [Read more...] about Chinese economy clobbered by coronavirus but set to recover soon: Reuters poll
Economy
Grab invests USD500m into Vietnam’s e-economy
Decree 10/2020/NĐ-CP covering automobile transportation business was issued in January and came into force from the beginning of April. When the decree was issued, many people were worried that it would be the end for tech-based taxis since the firms were put into a pilot programme. The programme only allowed the firms to operate in some certain areas and for a period of time. Due to the uncertainties, investment was weak. Bui Danh Lien, former president of Hanoi Transport Association said when the Decree 10 came into force, the market for tech-based taxis had been expanded. "Instead of limiting operation in just five cities in the pilot programme, now individuals and organisations across Vietnam can invest and work for tech-based taxi firms and travellers can use app-based taxis everywhere," he said. There will be no confusion about the app-based taxi and a traditional taxi. Firms must choose one model to work on and follow all requirements and regulations for that model. … [Read more...] about Grab invests USD500m into Vietnam’s e-economy
5 things to know for April 6: Coronavirus, health, economy, elections, White House
The coronavirus has reached the massive Dharavi slum outside of Mumbai, which puts India at risk of being the next hot spot. Doctors fear if the virus spreads among the slum's 1 million or so residents, it could signal disaster for the rest of the country. In the UK, Prime Minister Boris Johnson was admitted to the hospital as a precaution after testing positive for the virus two weeks ago. He will continue to lead the British government while under medical supervision. A glimmer of optimism is starting to shine in Spain and Italy: Both countries, which have been ravaged by the disease, are seeing a leveling off in their number of reported cases. The US marked its deadliest day yet in the fight against the disease this weekend, with 1,344 deaths reported on Saturday. The novel coronavirus has now infected more than 1.2 million people globally, including more than 330,000 in the US, and caused more than 69,000 deaths worldwide. Follow here for the latest updates. … [Read more...] about 5 things to know for April 6: Coronavirus, health, economy, elections, White House
Feature: COVID-19 batters Argentina’s already weak economy
BUENOS AIRES, April 5 (Xinhua) -- Martina Moreno, a programmer at a computer firm in Buenos Aires, is now trying to spend as little as possible, just on food and basic hygiene products, as economists warn the COVID-19 pandemic is battering Argentina's already weak economy. … [Read more...] about Feature: COVID-19 batters Argentina’s already weak economy
2020 Watch: Can Trump avoid blame amid deaths, weak economy?
His response has been inconsistent on many levels, including late last week when he pointedly noted that he would not follow new federal guidelines promoting the wearing of masks. Trump has always put a premium on appearance, but the reality of the next few weeks and months will matter more. … [Read more...] about 2020 Watch: Can Trump avoid blame amid deaths, weak economy?
