August 14, 2020 -Biz in 60

Turkey's current account balance shows $2.9B deficit Turkey's imports exceeded exports for a seventh consecutive month as the coronavirus pandemic bears down on overseas orders. The June deficit came in at 2-point-9 billion- dollars, fueled by purchases of energy and gold. Meanwhile, industrial production jumped nearly 18 percent from the previous month, driven by improvements in all manufacturing sectors. Hong Kong's economy contracts 9% in second quarter Hong Kong's economy shrank for the fourth straight quarter as the coronavirus pandemic and anti-Beijing protests continue to hurt businesses. Gross domestic product dropped nine percent from a year ago in the second quarter, following a similar contraction over the previous three months. The government's also revised its full-year GDP forecast to a contraction of 6 to 8 percent. Amazon launches online pharmacy in India Amazon has launched an online pharmacy in India as part of its $1 billion plan to expansion plan for the country. Amazon Pharmacy will offer both over-the-counter and prescription-based drugs as well as basic healthcare devices. In May, the US e-commerce giant also launched its food delivery business Amazon Food in the South Asian country.