Coronavirus

TOKYO (AFP) - The Bank of Japan on Monday ramped up its emergency monetary easing and cut growth forecasts for the world's third largest economy, as the coronavirus pandemic ravages the globe. After a meeting shortened from two days to one, the central bank said it would shift to unlimited government bond buying and more than double its capacity to purchase corporate bonds and commercial papers - a move to support Japan Inc's financing as the country grapples with fallout from the virus. The announcement comes as central banks around the world revert to extr...

LONDON (BLOOMBERG) - Problem loans at some of Standard Chartered's large clients may top US$600 million (S$854 million) as a string of corporate scandals coincides with woes at firms hit by the coronavirus pandemic. NMC Health, the hospital operator that's uncovered evidence of fraud, and Hin Leong Trading, the Singapore oil trader being investigated by police, represent nearly US$500 million of lending for Standard Chartered, according to public filings. Separately, a South African farm bank that the London-based company lends to has defaulted on some of its d...

Whenever we encountered a deadlock in a decision, discussion or problem a few weeks ago, the natural refrain was "let's call for a meeting". That little luxury of huddling in a room to hash things out has become a distant memory - and almost a forbidden evil. Then there were the customary committee meetings, with far more people than required for good decision making. You may be familiar with them: steering committees and project committees - with reams of minutes and action items. With the advance of Covid-19, governments globally have rapidly put in place ...

SINGAPORE - Companies are flocking to PayNow Corporate to make and receive payments as social distancing measures bring about a sea change in business operations. The amount transferred with the service hit $3.12 billion in February, a striking 713 per cent jump from the $383 million in the same month last year, the Association of Banks in Singapore noted on Thursday (April 23).