The situation for the agents selling property is bleak: agency Foxtons’ sales commissions between March 23 and May 15 were 61pc down year-on-year, while those for lettings dropped by 40pc. The new surge in demand that has emerged since lockdown is unlikely to maintain momentum. Richard Donnell, of Zoopla, said: “The Covid crisis and 50 […]
demand
China banks demand employees sign pro-security law petition
HONG KONG — Chinese banks are asking Hong Kong staff to sign a petition supporting national security legislation set to pass the National People’s Congress on Thursday, the Nikkei Asian Review has learned. The demand reflects the growing pressure faced by employees of scores of Chinese banks and brokerages after Beijing’s […]
Chinese oil demand on recovery track, pushing prices higher
Tokyo/ Shanghai — Oil demand in China, the second largest market in the world, is returning to pre-pandemic levels, with prices on the rise, even as the global outlook for the commodity remains bleak. Since mid-April, Chinese refineries have ramped up production after the government eased lockdowns as the coronavirus […]
From Shanghai to Bangkok, office demand set to plummet
SINGAPORE — The coronavirus pandemic will likely lead to an oversupply of office space across Asia as companies think twice about committing to fresh leasing contracts. According to London-based property consultancy Knight Frank, 73% of major Asia-Pacific office markets have recorded declines in leasing activity in the four weeks to […]
Slumping energy demand could spark brighter future for renewables
Low energy demand is also likely to hurt nuclear power producers, at least in the short term, experts agree. According to Elchin Mammadov, an energy analyst at Bloomberg Intelligence, the technology most likely to suffer from lower demand is nuclear, because of its inflexibility. As nuclear power is impossible […]
Lenovo says coronavirus will spur PC and data center demand
TOKYO — The new coronavirus pandemic will spur long-term growth in PCs and data centers, Lenovo Group said on Wednesday as the world’s largest notebook computer revealed a fall in quarterly profit after supply chain disruptions. Yang Yuanqing, Lenovo’s chairman and chief executive, said the company is seeing increased demand for PCs due […]
Business leaders demand clear timetable for reopening as country prepares to get back to work
John Holland-Kaye, chief executive of Heathrow airport, said aviation companies are being forced to “take decisions about cutting tens of thousands of jobs in a vacuum ” because they do not know what ministers’ plans are. A detailed plan for restarting the Irish economy has emerged, containing five phases and […]
Coronavirus curbs LNG demand in China, Japan and South Korea
TOKYO/SHANGHAI/SEOUL — Asian demand for liquefied natural gas, which was driving growth in the global market, is slowing after the novel coronavirus brought industrial activity in the region to a standstill. The super-chilled natural gas, which emits less greenhouse gas than coal, has become increasingly popular over the past decade […]
A crisis of demand, not supply, has dented my hopes of a swift recovery
Half as many tables means sharply lower turnover will not cover fixed costs – and that’s before you’ve worked out how to run a kitchen with two metres between your staff. This means the crisis is about solvency, not liquidity. The prompt, massive and unprecedented Government and central bank support […]
Japan’s eGuarantee rides pandemic demand to insure owed payments
TOKYO — Despite the recent turmoil in global equities markets, the stock of Japanese accounts receivable insurer eGuarantee has steadily climbed thanks to a business model that shines especially in turbulent times. The shares marked a record high of 1,996 yen on the Tokyo Stock Exchange on April 21. The stock price has […]