ATI Newswire - the latest updates

August 7, 2020

BEIJING - China's Minister of National Defence, Wei Fenghe, on Thursday took a phone call from US Secretary of Defence Mark Esper "upon invitation", China's State newsagency, Xinhua, reported.

August 7, 2020

HONG KONG -- Hong Kong is facing a deeper economic quagmire owing to a third wave of COVID-19 infections, with the global financial group, Natixis, lowering its forecast for Hong Kong GDP in 2020 from minus 4% to minus 7%. Natixis says negative consumer sentiment implies that Hong Kong's unemployment rate could deteriorate from 3.3% in 2019 to between 7% and 8% in the second half of 2020.

August 6, 2020

MANILA - GDP in the Philippines contracted by 16.5% y/y in Q2, reflecting the full extent of COVID-19 containment measures implemented during March-April. In a research note, ANZ Bank says a recent resurgence of infections and re-imposition of mobility restrictions could delay the recovery.

August 6, 2020

NEW DELHI -- In a unanimous decision, the Reserve Bank of India (RBI) today kept its policy repo rate and reverse repo rate unchanged at 4.00% and 3.35%, respectively. Acknowledging that growth will contract in FY21, the central bank noted that policy space is available for further action, but only when inflation has durably reduced.

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