Relief eyed for companies badly hit by coronavirus

While the government had yet to firm up relief for affected firms, Tionko said all agencies would be involved in this initiative.

Citing preliminary BOC data, Tionko said the volume of imported goods from China dropped 44 percent year-on-year in February. Tionko said overall import volume last month declined 22 percent, even as the BOC’s actual collections of import duties and other taxes “did not go down much because this was offset by taxes on importations of oil.”

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The travel industry is suffering its worst shock since 9/11 because of coronavirusThe hit to the travel industry has the potential to become a major drag on the global economy if the coronavirus continues to spread around the world.
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