Business

Global stock markets rebounded sharply on Tuesday after the US government signaled progress on a massive $1.8 trillion economic stimulus package. The announcement boosted investor confidence, with the Dow Jones Industrial Average experiencing its best single-day performance since 1933, rising 11.4%.

As employees worldwide transition to working from home due to COVID-19, South Korean exports of teleconferencing equipment and semiconductors have seen significant growth. Cloud computing demands and increased remote work in the US and China have driven semiconductor sales up by 20.3%, highlighting the technological adaptations during the pandemic.

Spritzer Berhad, Malaysia's largest bottled water producer, aims to boost production capacity from 750 million to 900 million bottles annually. The company plans to install two new high-speed automated bottling lines in Shah Alam and Yong Peng, targeting increased market share in the bottled water industry.

Singapore Airlines has grounded 185 of its 196 aircraft, including Airbus A380s and Boeing 787s, due to the coronavirus pandemic. The airline has slashed 96% of its scheduled capacity through April, citing a significant decline in passenger revenues caused by global border controls and reduced air travel demand.

The Philippine Government has ordered Business Process Outsourcing (BPO) companies to implement Work from Home arrangements until 11:59 PM on March 29. This extends the previous deadline and allows BPO workers to travel and bring home equipment for remote work.

Indonesia's Energy Ministry announced plans to increase oil import volumes following a sharp global crude price decline. The price drop, triggered by Saudi Arabia's oil market strategy, has pushed Brent crude futures to their lowest levels since 2003, presenting a strategic opportunity for the country to secure affordable petroleum supplies.

Despite the Association of Stockbroking Companies' recommendation to suspend trading, Malaysian authorities and Bursa Malaysia remain committed to maintaining stock market operations during the coronavirus lockdown to prevent potential long-term market damage.

Global markets are already in a recession, according to 31 out of 41 economists polled by Reuters. JP Morgan's Bruce Kasman confirms the economic shock, predicting widespread contraction between February and April.

Volkswagen will pay $34.69 billion in fines and settlements over the 2015 "dieselgate" scandal, where the company was caught using defeat devices to manipulate toxic emissions testing. The financial penalty follows years of regulatory investigations and legal challenges, marking a significant turning point for the automotive giant.

Japanese fashion retailer Uniqlo has reopened most of its stores in China, with only 30 of 750 locations remaining closed. The company previously shut down over 300 stores and factories due to the coronavirus outbreak, significantly impacting its revenues in the crucial Chinese market.