Search results for: global

COVID-19 may cost global economy $82t in five years

-- June 03, 2020 19:33:32

The global economy could take a hit of some $82 trillion in a worst case scenario from the coronavirus over the next five years, according to recent findings by University of Cambridge. The Centre fo...

Virus brings Asia's online lending sector to juddering halt

Reuters June 03, 2020 11:19:41

The spring started out rosy for the Indian arm of ClearScore, a company that offers online credit scores and loans. Within weeks, the coronavirus pandemic had taken hold, drastically changing the pic...

Zoom nearly doubles revenue forecast on remote-work boost

Reuters June 03, 2020 10:15:45

Zoom Video Communications nearly doubled its expectations for annual sales on Tuesday, driven by a surge in users as more people work from home and connect with friends online during coronavirus lockd...

UNCTAD appoints Dona Bertarelli as special adviser for blue economy

FE ONLINE DESK June 02, 2020 22:26:37

The United Nations Conference on Trade and Development (UNCTAD) has appointed Dona Bertarelli, an ocean conservation advocate, as its special adviser for blue economy. Dona Bertarelli, a Swiss philan...

Vietnam's new enterprises fall 10.5pc y/y in five months

-- June 02, 2020 16:19:09

A total of 48,300 enterprises with a total registered capital of 557.9 trillion Vietnamese dong (nearly 24.3 billion US dollars) were set up in Vietnam in the first five months of this year, down 10.5...

COVID-19 impact and the world economy in eight charts by RAPID

M ABU EUSUF and JILLUR RAHMAN June 02, 2020 13:38:51

The first case of COVID-19 (Coronavirus) was reported in Wuhan, China, in late December 2019. As of 31 May, 2020, over 6.2 million COVID cases were reported in over 200 countries and territories aroun...

Moody's cuts India's rating to lowest investment grade

REUTERS June 02, 2020 09:59:00

Moody’s Investors Service downgraded India’s credit rating to a notch above junk on Monday, citing a prolonged period of slow growth in Asia’s third-largest economy, rising debt and...

Australia's stalled migrant boom derails golden economic run

REUTERS June 01, 2020 14:02:26

Australia’s three decades of uninterrupted prosperity are coming to an abrupt end as the global coronavirus pandemic crashes one of its most lucrative sources of income – immigration. The...

Asia stocks reach three-month peaks, resilient to US riots

REUTERS June 01, 2020 12:18:04

Asian shares pushed to three-month highs on Monday as progress on opening up economies helped offset jitters over riots in US cities and unease over Washington's power struggle with Beijing. There wa...

South Korea's export drops 23.7pc in May

-- June 01, 2020 12:17:56

South Korea's export dropped in double digits in May as global demand weakened amid the coronavirus (COVID-19) outbreak across the world, a government report showed Monday. Export, which accounts for...

Rural e-commerce gains momentum in China as stay-at-home economy thrives

Xinhua May 31, 2020 19:09:22

China's rural e-commerce has been growing at a fast pace amid government initiatives to support rural consumption, data showed. As of May 22, the country saw more than 87,000 newly registered rural e...

Indian economy grows at slowest pace in eight years in Jan-March

Xinhua May 30, 2020 18:04:41

Indian economy grew at its slowest pace in eight years at 3.1 per cent for the fourth quarter of Jan-March and at 11-year low of 4.2 per cent for the fiscal year 2019-20 (April-March) widening the fis...

Indian economy slows in March quarter, with worst to come

REUTERS May 30, 2020 13:49:46

India’s economy grew at 3.1 per cent in the January-March quarter, its slowest pace in at least eight years, and the situation is expected to worsen rapidly, putting pressure on the government a...

COVID-19 second wave would undermine recovery: Fed chief

-- May 30, 2020 12:23:34

US Federal Reserve Chairman Jerome Powell has said that he is concerned about a second wave of COVID-19 infections, which he believes would dampen consumer confidence and hurt economic recovery. "S...

Vietnam's export down in first five months of 2020

-- May 29, 2020 13:19:36

Vietnam's export and import turnovers in the first five months of 2020 decreased by 1.7 per cent and 3.8 per cent year-on-year respectively, the country's General Statistics Office said Friday. Expor...

Nepal focuses on health spending to fight COVID-19 in annual budget

REUTERS May 29, 2020 13:13:37

Nepal increased spending on health infrastructure in its annual budget unveiled on Thursday to stop the spread of the coronavirus and introduced measures to revive an economy that depends on tourism a...

India's economy seen slowing rapidly in March quarter, with worse to come

REUTERS May 29, 2020 12:58:43

Gross domestic product data out later on Friday is expected to show India’s economy grew at its slowest pace in at least two years in the March quarter as the coronavirus pandemic weakened alrea...

South Korea cuts rates, flags worst year for economy since 1998

Reuters May 28, 2020 12:17:44

South Korea’s central bank cut interest rates to a record low on Thursday as it warned the coronavirus pandemic would be worse for Asia’s fourth-largest economy than the 2008 global financ...

COVID-19 knocks a third of European FDI

-- May 28, 2020 09:52:37

Over a third of European foreign direct investment (FDI) projects announced in 2019 have been either delayed or cancelled outright because of the coronavirus pandemic, according to a survey. The annu...

EU unveils €750b plan for coronavirus recovery

-- May 27, 2020 18:17:21

The European Commission has unveiled a plan to borrow on the market and then disburse to EU countries 750 billion euros in grants and loans to help them recover from their coronavirus slump, giving an...

FDI net inflows into Philippines reach $657m in Jan

-- May 27, 2020 16:17:15

Foreign direct investment (FDI) net inflows into the Philippines grew by 12.1 per cent in January this year to reach 657 million US dollars from 586 million US dollars posted in previous year, the BSP...

Asia Clean Energy Forum to be held virtually

-- May 27, 2020 12:42:17

The15th annual Asia Clean Energy Forum (ACEF) will be held as a virtual and live-streamed event on June 15-19 focusing on a sustainable future. The Asian Development Bank (ADB), the US Agency for Int...

India facing one of its worst recessions: CRISIL

-- May 27, 2020 10:57:28

Global rating and research agency CRISIL has said that India was facing one of its worst phases of recession, amid the Lockdown imposed to contain novel coronavirus (COVID-19) pandemic outbreak. In a...

COVID-19 could cost Mexico a million jobs: President

-- May 26, 2020 15:15:51

Mexican President Andres Manuel Lopez Obrador has said that the novel coronavirus could cost as many as a million jobs in the country as many industries considered not essential remain shut. The Mexi...

Singapore cuts 2020 GDP outlook again

-- May 26, 2020 12:24:53

Singapore downgraded its 2020 gross domestic product (GDP) forecast for the third time on Tuesday, the trade ministry said, as the bellwether economy braces for its deepest ever recession. The city-s...

Dollar dips as virus recovery optimism holds

-- May 26, 2020 10:57:52

The dollar inched lower on Tuesday as growing optimism about a global recovery from the coronavirus (COVID-19) pandemic supported riskier currencies, though concerns about Sino-US tensions held furthe...

Corona spoiled China’s chances of setting 6.0pc growth goal: Xi

REUTERS May 25, 2020 14:27:10

Chinese President Xi Jinping said China’s annual economic growth target could have been set around 6.0 per cent had the new coronavirus epidemic not happened, according to state media reports on...

US economist warns of 10 years of depression and debt

BBC May 24, 2020 15:54:07

American economist Nouriel Roubini has warned of a prolonged downturn and sluggish recovery from the coronavirus. Nicknamed Dr Doom for his gloomy predictions, Professor Roubini, who teaches at New Y...

Malaysian economy may face sharp slowdown in near future

-- May 22, 2020 15:16:02

Malaysia's latest data on Friday indicated that the country may be facing a sharp slowdown. According to Malaysian Statistics Department statement, the latest leading index (LI) which is compiled to...

China drops annual growth target for first time since 1990

REUTERS May 22, 2020 15:13:37

China dropped its annual growth target for the first time on Friday and pledged more government spending as the COVID-19 pandemic hammers the world’s second-biggest economy, setting a sombre ton...