Business

The Philippine economy plunged by much more than expected in the second quarter, falling into recession for the first time in 29 years, as economic activity was hammered by one of the world's longest and strictest coronavirus lockdowns.

The speed at which gold has broken above $2,000 an ounce has left some in the market fearing a correction, but many analysts predict more gains as the coronavirus crisis spurs investors to buy into bullion's relative safety.

Japan's new top financial regulator Ryozo Himino voiced caution over taking fresh steps to promote cryptocurrency trading, arguing that doing so may not necessarily promote technical innovation.

It took months of tough talks for Argentina to reach agreement on restructuring $65 billion in debt. Now, economists and policymakers say, the real work begins: reviving Latin America's No. 3 economy from its currency and fiscal crises.

The BSE Sensex was trading 314.47 points or 0.83 per cent higher at 38,002.38; while the NSE Nifty was up 88.70 points or 0.80 per cent at 11,183.95.

Indonesia's economy contracted for the first time in over two decades in the second quarter as efforts to contain the new coronavirus dealt a blow to consumer demand and business activity in Southeast Asia's largest economy.

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Gold prices hit an alltime high on Tuesday after a top U.S. Senate Democratic leader said that Democrats and the White House were closer to an agreement on the stimulus bill to help the virushit economy.

On a summer's evening, the streets of central London echoed to what has become a rare sound during the coronavirus pandemic: the chatter and laughter of diners seated at terrace tables.

Sri Lanka's economy contracted by 1.6% in the first quarter of 2020, government data showed, as lockdowns related to the COVID19 pandemic battered a country still recovering from last year's Easter Sunday bomb attacks.

Ralph Lauren Corp said on Tuesday its quarterly revenue plunged by nearly $1 billion, as it struggled with coronavirusled store closures and a slowdown in demand for luxury goods across the world.

Typically a boon for emerging markets, this year's plunge in the U.S. dollar may fail to boost the developing world's prospects as the raging pandemic hits economic activity, increases poverty and exposes weak policymaking.

Argentina said on Tuesday it had reached a deal with three creditor groups to restructure $65 billion in sovereign debt, which would help it climb out of a damaging default and revive an economy stuck in recession for over two years

Ryanair flew 4.4 million passengers in July, a broadly expected 70% yearonyear fall after it operated around 40% of its normal July schedule with a 72% load factor, a measure of how well an airline fills its available seats.

Ryanair flew 4.4 million passengers in July, a broadly expected 70% yearonyear fall after it operated around 40% of its normal July schedule with a 72% load factor, a measure of how well an airline fills its available seats.

British low cost airline easyJet said it planned to fly about 40% of its capacity over the rest of the summer, more than originally scheduled as bookings were stronger than expected despite ongoing restrictions due to the pandemic.