Business

Japan and South Korea held a 16-hour video conference to discuss trade disputes and export controls. Both nations expressed willingness to continue dialogue and explore solutions to their ongoing import restrictions, with officials from both countries noting positive progress in their discussions.

Bill Gates, the world's second-richest man, has resigned from the boards of Microsoft and Berkshire Hathaway. In a LinkedIn post, he explained his decision to dedicate more time to philanthropic priorities including global health, education, and climate change. Gates and his wife Melinda co-chair a major philanthropic foundation.

Walt Disney Company shuts down all eleven theme parks across global locations, including Walt Disney World, Disneyland, and Disneyland Paris. Disney Cruise Line also suspends new departures through the end of March as a precautionary measure against the spreading coronavirus pandemic.

Two top Thai aviation executives resign on March 12 due to government's mishandling of coronavirus travel restrictions, creating confusion for domestic and international travelers during the pandemic crisis.

Vietnam's gold market sees significant price reduction as demand declines. Major manufacturers like SJC have lowered gold prices by VN₫300,000 to VN₫400,000, with current rates around VN₫47.3 million per tael. Experts suggest price adjustments are strategic to re-engage potential investors during a slow market period.

Italy has closed most businesses and implemented a nationwide quarantine as coronavirus cases surge. Prime Minister Giuseppe Conte announced only essential services like supermarkets and pharmacies will remain open. With over 12,000 confirmed cases and 827 deaths, Italy becomes the second-most affected country globally.

Ride-hailing platform Grab Philippines bans 125,000 users for creating multiple accounts, frequent cancellations, and providing false ratings, protecting driver interests and service quality.

Tesla CEO Elon Musk is scouting locations in the central United States for a new Gigafactory dedicated to manufacturing the Cybertruck. Originally unveiled in 2019, the electric pickup was expected to begin production by 2021 with an initial price point of $40,000. This expansion signals Tesla's continued growth in the electric vehicle market.

In response to economic challenges from COVID-19, European banks like RBS, Lloyds, and TSB are allowing mortgage payment delays and providing flexible financial options for customers experiencing income loss during the pandemic.

Dutch brewer Heineken is investing 865 million reais (US$183.14 million) to expand its Ponta Grossa brewery in Brazil. The investment will increase manufacturing capacity by 75%, reflecting the company's confidence in the Brazilian market despite economic challenges. CEO Mauricio Giamellaro emphasizes Brazil's strategic importance for Heineken's growth plans.