Business

The coronavirus pandemic has caused unprecedented economic disruption, leading to global supply chain breakdowns, panic buying, and significant economic challenges for countries worldwide. Businesses struggle with raw material shortages and unpredictable market conditions.

China confronts international pressure as authorities uncover millions of counterfeit face masks and arrest over 1,500 suspects involved in fraudulent PPE manufacturing and sales during COVID-19 crisis.

AI is revolutionizing financial security by detecting suspicious transactions. In one case, a bank teller prevented a $500 million central-bank heist by flagging an unusual $2 million transfer, showcasing how technology and human vigilance work together to stop financial crimes.

Japanese Prime Minister Shinzo Abe announced a nearly $1 trillion stimulus package worth 108 trillion yen to protect the economy from coronavirus damage. The massive relief plan, double the size of the 2008 financial crisis package, represents 20% of GDP and aims to mitigate the pandemic's economic effects.

Export restrictions on medical supplies like face masks and thermometers by producing countries have created significant challenges during the coronavirus pandemic. These bans limit availability of critical protective gear for nations struggling to manage the virus spread, potentially increasing vulnerability to COVID-19.

Despite the coronavirus pandemic, Taiwan's auto industry reported a significant increase in car sales, with 37,279 new car registrations in March, representing a 15.1% rise compared to the same period in 2019.

Vietnamese exports to the United States have surged, reaching $67 billion in 2019, a 36% increase. The country supplies agricultural products, electronics, clothing, and furniture, becoming a key alternative to Chinese manufacturing.

A survey by NNA shows that over 65% of Japanese manufacturers in Philippines, Indonesia, Malaysia, Thailand, and India are experiencing significant supply chain and trade disruptions. More than 80% report issues with sourcing parts and materials, with some countries reporting up to 95.8% impact on their operations.

Popular weather app Dark Sky, known for hyper-local forecasts and clean interface, has been acquired by Apple. The move means Android users will lose access to the app, while Apple users gain a powerful new weather tool with precise minute-by-minute predictions.

Singapore's government is taking strict measures to enforce work-from-home policies amid the coronavirus crisis. The Ministry of Manpower will issue stop-work orders to companies that fail to make adequate telecommuting arrangements, with potential legal amendments to increase penalties for non-compliance.