Money & Finance

Asian share prices rebounded after the Bank of Japan and U.S. Federal Reserve committed to protecting markets from coronavirus economic damage. BOJ Governor Haruhiko Kuroda pledged to stabilize markets through emergency measures, while the Fed promised to mitigate financial market volatility.

The International Monetary Fund and World Bank have developed contingency plans to provide financial assistance to countries struggling with the coronavirus pandemic. IMF spokesman Gerry Rice stated they have various financial instruments to support nations facing economic challenges from epidemics or natural disasters.

The Philippine Stock Exchange Index dropped 4.3% on Wednesday, marking its steepest fall since 2016 due to coronavirus concerns. The peso weakened against the dollar, and local companies like Jollibee are experiencing significant market impacts from the outbreak.

Nine Japanese suspects accused of telecommunications fraud were deported by the Philippine Bureau of Immigration. The group, monitored by Tokyo Metropolitan Police, allegedly scammed over 1,500 Japanese citizens of approximately 1.5 billion yen ($13 million) since 2018 through voice phishing tactics.

South Korea faces economic challenges as coronavirus cases surge from 31 to 833, with government raising virus alert and implementing strict quarantine measures. The epidemic threatens domestic consumption and exports, particularly impacting trade relations with China.

Indonesian central bank reduces rates by 25 basis points to 4.75%, addressing potential economic challenges from coronavirus outbreak despite no confirmed cases, responding to production shortages and reduced tourism from China's factory closures.EXCERPT: A 100-word summary that provides the core information- Explains the rate cut- Mentions the reason (COVID-19)- Highlights potential economic impacts- Indicates proactive economic management

A Japanese couple who ran an educational institution, Yasunori and Junko Kagoike, were found guilty of defrauding government entities by falsely claiming public subsidies for school construction and inflating teacher and student numbers.

Fugitive financier Jho Low was reportedly seen in Wuhan, China, amid the coronavirus pandemic. Malaysian authorities are seeking his return after his alleged involvement in the massive 1MDB corruption scandal, involving billions of dollars siphoned from a sovereign wealth fund.

India has climbed to the 5th position in world's largest economies, with a GDP of $2.94 trillion. Driven by economic reforms, service sector growth, and global market integration, the country shows promising long-term economic potential, outperforming traditional economic powerhouses.

Apple announced it won't meet Q2 revenue projections due to coronavirus impacts. The company expects supply constraints for iPhones and lower customer traffic in China, despite some stores reopening. Originally forecasting $63-67 billion in revenue, Apple now indicates earnings will fall short of even the lowest estimate.