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The Financial Express

Search results for: global

Global trade may fall by even 32.0pc due to pandemic: WTO

FE Online Report April 08, 2020 20:31:55

Global trade may fall by between 13.0 per cent and 32.0 per cent in 2020 as the COVID-19 pandemic disrupts normal economic activity and life around the world, projects the World Trade Organization (WT...

Pandemic to wipe out 6.7pc of working hours globally in Q2

FE Online Report April 08, 2020 16:57:05

The coronavirus (COVID-19) pandemic is likely to wipe out 6.7 per cent of working hours globally in the second quarter of 2020 - equivalent to 195 million full-time workers, according to the Internati...

China still needs to hold onto US Treasuries

Global Times April 08, 2020 16:20:49

There has been no short of calls for sell-off of US Treasuries in China over the past decade, but such a decision should by no means be a political one.The foremost reason why China cannot consider se...

Italy announces €400b stimulus plan

-- April 07, 2020 11:40:07

Italy’s government has approved new emergency decree that will offer more than 400 billion euros (352 billion pounds) worth of liquidity and bank loans to companies hit by the coronavirus cris...

StanChart announces global measures to fight Covid-19

FE Online Desk April 06, 2020 18:48:47

  Standard Chartered (the Group) has recently announced a set of global measures to serve the present and long-term needs of its clients, communities and employees in the face of the COVID-19 pa...

World Bank sees 'major global recession' due to pandemic

REUTERS April 04, 2020 11:10:23

World Bank Group president David Malpass on Friday said the rapidly spreading COVID-19 pandemic was expected to cause a “major global recession” that would likely hit the poorest and most...

Coronavirus may halve GDP growth in developing Asia: ADB

-- April 03, 2020 21:49:30

Developing Asia’s already slowing economic growth is set to weaken even more sharply this year, hit by the fallout from the coronavirus pandemic before it bounces back strongly next year, the As...

With over a million coronavirus cases, economic freefall looms

Reuters April 03, 2020 20:38:58

Global cases of the new coronavirus have shot past 1 million with more than 53,000 fatalities, a Reuters tally showed on Friday, as death tolls soared in the United States and western Europe while the...

Emirates resumes first passenger flights April 6

FE Online Desk April 03, 2020 18:29:37

Emirates has received approvals to carry passengers on certain flights. Effective from April 6, initial flights will commence from Dubai to London Heathrow, Frankfurt, Paris, Brussels and Zurich, wit...

When will US economy bottom? Economists hunt for the right view

REUTERS April 03, 2020 16:09:50

The economic crisis spawned by the coronavirus pandemic has produced a wave of grim US data, with likely more to come as millions lose jobs, businesses shutter and spending stops. But at some point,...

Asia's economy to decline sharply in 2020 due to COVID-19: ADB

-- April 03, 2020 12:35:59

The regional economic growth in developing Asia will decline sharply in 2020 due to the effects of the COVID-19 pandemic before recovering in 2021, according to the Asian Development Bank (ADB. The...

India's growth to slow to 4pc in 2020

-- April 03, 2020 12:19:58

India's gross domestic product (GDP) is projected to slow to 4.0 per cent in fiscal year (FY) 2020 ending on March 31, 2021 due to a weak global environment and continued efforts to contain the COVID-...

Philippine economic growth to fall to 2.0pc in 2020

-- April 03, 2020 11:39:56

The Philippine economic growth is projected to fall to 2.0 per cent in 2020 before a strong recovery to 6.5 per cent in 2021, assuming COVID-19 outbreak is contained by June this year, said ADB. Acco...

Vietnam's industrial production up in first quarter

-- April 03, 2020 11:20:21

Vietnam's national index of industrial production advanced 5.28 per cent year-on-year in the first quarter of this year, the country's General Statistics Office announced on Friday. The main driver o...

Global economy could shrink by 1.0pc in 2020: UN

-- April 02, 2020 17:45:53

The global economy could shrink by up to 1 per cent in 2020 due to the COVID-19 pandemic, and may contract even further if restrictions on economic activities are extended without adequate fiscal resp...

Almost 900,000 Spanish workers lost their job since coronavirus lockdown

-- April 02, 2020 14:46:36

Spain’s social security data showed on Thursday that close to 900,000 workers lost their job since March 12 when the country went on coronavirus lockdown. Some 898,822 workers lost their jobs s...

G20 finance ministers to deliver roadmap in response to COVID-19

-- April 01, 2020 20:21:07

Finance ministers and central bank governors of the G20 member states has agreed on delivering a roadmap in response to the novel coronavirus. The ministers met on Tuesday through a virtual meeting f...

China to fully open asset management market as planned despite coronavirus

Global Times April 01, 2020 19:24:29

China will stick to the plan of opening its trillion-dollar asset management market to overseas institutions in April, a gesture that signals the country's determination to open up despite the coronav...

Huawei releases 2019 Annual Report

FE Online Desk April 01, 2020 16:56:31

Huawei released its 2019 Annual Report on Tuesday in Shenzhen, China, detailing a solid business performance. The company's global sales revenue in 2019 rounded off at CNY858.8 billion (USD 123 billi...

Asian shares hold on to gains but virus keeps markets on edge

REUTERS April 01, 2020 12:45:38

Asian stocks clung to gains on Wednesday, helped by a bounce in Australian shares, but risks for equities remain large as the coronavirus pandemic rattles the underpinnings of the global economy. E-M...

Asia's factory activity plunges as virus shock deepens

Reuters April 01, 2020 11:54:20

Factory activity contracted sharply across most of Asia in March as the coronavirus pandemic paralysed economic activity across the globe, with sharp falls in export power-houses Japan and South Korea...

UNCTAD seeks $2.5 trillion virus package for developing countries

FE Online Report March 31, 2020 16:14:25

In the face of a looming financial tsunami this year, due to spread of deadly coronavirus, an agency of the United Nations called for $2.50 trillion crisis package for developing countries including B...

Japan factory output growth slows in Feb

-- March 31, 2020 14:17:51

Japan’s industrial output rose in February at a slower pace than the previous month and factories expect production to plunge in March, adding to growing signs the coronavirus pandemic is taki...

Pandemic to hit growth in Asia, China: World Bank

Reuters March 31, 2020 10:21:37

The coronavirus pandemic is expected to sharply slow growth in developing economies in East Asia and the Pacific as well as China, the World Bank said in an economic update on Monday. The bank said p...

Australia to spend $80b subsidy to protect jobs

-- March 30, 2020 16:13:13

Australia will spend A$130 billion (64.5 billion pounds) to subsidise the wages of an estimated 6 million people, marking a third tranche of stimulus designed to limit the fallout of the coronavirus p...

China unexpectedly cuts reverse repo rate by most in five years

REUTERS March 30, 2020 15:41:27

China's central bank unexpectedly cut the rate on reverse repurchase agreements by 20 basis points on Monday, the largest in nearly five years, as authorities stepped up measures to relieve pressure o...

Coronavirus: Greece pumps more financial aid in economy

-- March 30, 2020 15:40:40

Greece announced new tax breaks and economic assistance to thousands of businesses and workers on Monday to buffer its economy from a national lockdown triggered by the coronavirus pandemic. Greece&r...

US markets not out of woods despite big rally, investors fear

REUTERS March 29, 2020 14:34:39

After a brutal meltdown, some investors have been wading back into US stocks. But others are wary of another leg down as the coronavirus spreads and its economic impact is difficult to predict. High-...

World has entered recession: IMF

-- March 28, 2020 01:05:34

International Monetary Fund Managing Director Kristalina Georgieva in Washington, DC on Friday said "it is clear" that world has "entered a recession as bad or worse" than the global financial cr...

India cuts repo rate to decade-low 4.4pc

-- March 27, 2020 17:58:03

India’s central bank has slashed its key interest rate by a sizable 75 basis points to 4.4 per cent from 5.15 per cent to ease financing troubles caused by the coronavirus outbreak and help revi...