Tag: Economic

Lebanon’s Economic Crisis Is Spinning Out of Control, Fast

(Bloomberg) — Lebanon’s economic crisis is fast slipping out of control, driven by a currency collapse that’s decimating businesses and plunging families into destitution.

While politicians and bankers trade blame on the airwaves, the country’s pound has lost nearly 60% of its value on the black market in the past month, threatening to suck the economy into a hyper-inflation spiral. Food prices are rising so fast that the army took meat off its menus last week. The state-controlled price of a bag of flat-bread was raised by a third.

Blackouts are spreading as fuel runs out. Facing ruinous losses, well-known

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Asia Electronics Sector Booms, Bucking Global Economic Slump

(Bloomberg) — Global trade data in the Covid-19 era has been generally abysmal, but look a little closer and the electronics sector that fires Asia’s trade engines could be headed for a pretty good year.

In South Korea, semiconductor exports rose in May and imports of equipment used in producing semiconductors surged 168%, trade ministry data show. Taiwan’s electronic-component exports, which include chips, grew 13.2% in May to $10.2 billion, even as total exports fell 2% from a year earlier.

The electronics industry is holding up relatively well amid the pandemic as companies adopt new technologies — including 5G equipment

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