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Covid-19: South Korea central bank cuts GDP outlook, open to more stimulus

The Bank of Korea kept the seven-day repurchase rate at a record low of 0.5%, in an unanimous and widely expected decision, after 75 basis points of rate cuts this year

TikTok CEO Kevin Mayer quits amid Trump's threat to ban app: Report

Mayer told employees at TikTok and ByteDance, which controls the app, of his decision to leave on Thursday, people briefed about the matter said

Gold holds steady on softer dollar, investors eye Fed Chair Powell's speech

Gold prices were mostly unchanged after rising more than 1% in the previous session on weaker US dollar, as investors awaited a speech from Federal Reserve Chairman Jerome Powell due later in the day

Oil prices hold pattern as huge Gulf of Mexico storm shuts output

US West Texas Intermediate crude futures fell 4 cents, or 0.1%, to $43.35 a barrel by 0148 GMT, erasing Wednesday's slight rise

Indian farmers driven to debt as banks turn risk-averse during pandemic

Agriculture accounts for near 15% of India's $2.8 trillion economy and is a source of livelihood for more than half of its 1.3 billion people

Samsung trials work-from-home as South Korea battles virus resurgence

Samsung Electronics plans to allow some workers in South Korea to work from home under a pilot programme, as the country battles a resurgence in novel coronavirus cases

China industrial profits grow at fastest pace since mid-2018 amid pandemic

Profits at China's industrial firms grew for a third straight month and at fastest pace since June 2018

Australia Q2 business investment slide not as bad as feared, plus for GDP

Australian business investment fell by less-than-feared last quarter and future spending plans remained surprisingly intact in a hopeful sign economic recession may not be as deep as forecast earlier

Lebanon inflation soars to 112% year-on-year in July amid economic meltdown

Lebanon's inflation rate soared to 112.4% year-on-year in July amid an economic meltdown, latest official data showed

Air New Zealand to draw on govt loan after first annual loss in 18 years

Air New Zealand has cut around 30% of its workforce and grounded most of its long-haul fleet in an effort to reduce cash burn amid strict international travel restrictions

S Korea central bank holds rates, but cuts GDP forecast on Covid concerns

The Bank of Korea kept the seven-day repurchase rate at a record low 0.50%

Asia shares set to rise after US equities hit new record in tech spike

Japan's Nikkei 225 futures fell 0.04%, while the Nikkei 225 index closed the overnight session down 0.03% at 23,290.86​​​​

Moderna Covid vaccine appears to work as well in older adults: Study

The latest data from an early Phase I study includes an analysis from 20 additional people detailing how the vaccine performed in older adults

SEC approves New York Stock Exchange proposal to allow IPO alternative

It will widen the options available to private companies that are looking to go public, but are wary of the role played by investment banks in the IPO process

Brexit taken off agenda for EU envoys' meeting due to stalled talks

A discussion about the negotiations over Britain and the European Union's post-Brexit relationship has been dropped from the agenda of a meeting of EU envoys next week because the talks have stalled

Job losses loom as Vanguard Group closes Hong Kong, Japan operations

The largest mutual fund company, with roughly $6 trillion in assets under management, said in a statement its Hong Kong business mostly served institutional clients and not retail investors

Xiaomi profit grows in second-quarter, boosted by premium phone sales

Revenue rose 3.1% in the quarter ending June 30, while sales rose to 53.54 billion yuan ($7.77 billion), beating analysts' expectations

Covid-19: Germany extends 10 billion euro relief to preserve workforce

The German economy contracted at its steepest rate on record in the second quarter and the government is desperate to mitigate the effects of the pandemic as much as possible

Covid-19: Japan govt signals push to re-open economy, boost stimulus

Chief Cabinet Secretary Yoshihide Suga also dismissed speculation that Prime Minister Shinzo Abe may step down for health reasons

China will release funds to local govts more quickly to boost economy

The government has said it would set up special transfer payments of 2 trillion yuan ($289.72 billion) from special treasury bonds