Business

Bangladesh's vital apparel sector is collapsing as international brands cancel orders due to coronavirus, potentially losing $6 billion in export revenue. The industry, which accounts for 80% of the country's exports, is leaving millions of low-wage workers without income during the global pandemic.

Japanese tech company Softbank has entered the 5G market, joining rivals NTT Docomo and KDDI Corp. The new service provides users with lightning-fast data speeds, enabling quick downloads and seamless video streaming. Rakuten Inc. is set to enter the 5G market in June.

A Filipino-Chinese businessman named Jackson Chua was arrested by Philippine authorities for selling non-contact infrared thermometers at exorbitant prices during the coronavirus pandemic. The CIDG seized 100 thermometers priced at P4,700 each, far above market rates, in an entrapment operation in Manila.

The Australian government unveiled a $79.85 billion stimulus package to subsidize salaries for over 6 million workers impacted by coronavirus. Prime Minister Scott Morrison emphasized the importance of maintaining economic activity and keeping businesses and employees connected during the crisis.

Qatar Airways remains operational during COVID-19, flying to Asia, Australia, and Europe while helping stranded passengers return home through government and embassy requests.

Google is providing $340 million in Ads credits to small and medium-sized businesses with active accounts. This is part of a broader $800 million commitment to support SMBs, health organizations, and governments during the coronavirus pandemic, as announced by CEO Sundar Pichai.

Gardenia Bakeries (KL) Sendirian Berhad responded to a viral video showing a delivery man allegedly stealing bread slices. The company confirmed the video was from the Philippines, not Malaysia, and was related to an incident from September last year that was already investigated and resolved.

The Association of Asia Pacific Airlines revealed a significant decline in international passenger traffic in February, with airlines experiencing a 43.9% drop. Travel restrictions and coronavirus concerns led to reduced flight operations, with total passenger numbers falling to 17 million and revenue passenger kilometers decreasing by 34.8%.

Prime Minister Narendra Modi imposed a complete nationwide lockdown in India to prevent coronavirus transmission, affecting all 36 states and territories for a minimum of 21 days.

World stock markets sharply rose Tuesday after the US announced progress on a massive $1.8 trillion economic relief package. President Trump's administration and Congress indicated they are close to finalizing a deal aimed at cushioning the economic damage from the coronavirus pandemic.