TOKYO: Japan was hit by its biggest economic slump on record in the second quarter as the coronavirus pandemic emptied shopping malls and crushed demand for cars and other exports, bolstering the case for bolder policy action to prevent a deeper recession.
The third straight quarter of decli
Japan was hit by its biggest economic contraction on record in the second quarter as the coronavirus pandemic crushed consumption and exports, keeping policymakers under pressure for bolder action to prevent a deeper recession.
The third straight quarter of declines knocked the size of real gross
WASHINGTON: The US and China have delayed a review of their Phase 1 trade deal initially slated for Saturday, sources familiar with the plans told Reuters, citing scheduling conflicts and the need to allow time for more Chinese purchases of US exports.
No new date for the initial six-month c
India’s prime minister said Saturday his country has done well in containing the coronavirus pandemic and announced $1.46 trillion infrastructure projects to boost the sagging economy.The key lesson India learnt from the pandemic is to become self-reliant in manufacturing and developing itse
China Pakistan Economic Corridor is a game-changer
Project will strengthen bond between two countries who share history of good strategic relations
Syed Hamzah Saleem Gilani
The China Pakistan Economic Corridor (CPEC), presently under construction at a cost of $46 billion, aims to improve
Wall Street indexes opened a touch higher on Monday after President Donald Trump signed executive orders over the weekend to support the country’s economy through the coronavirus crisis until more concrete stimulus could be passed.
The S&P 500 traded about a percent below a record high, w
The number of people in work in Britain fell by the most since 2009 in the three months through June as the coronavirus crisis took a heavy toll on the labor market, even with the government’s huge jobs protection scheme still in place.Led by a record plunge in self-employed workers, the
The spread of COVID-19 undoubtedly has had a catastrophic impact on the most vulnerable communities of the world. According to a recent World Bank report, the Middle East and North Africa (MENA) region is ranked as second-lowest among all regions in the overall Global Health Security Index, and it
Saudi Aramco, the world’s biggest oil company, reported a net income of $6.57bn for the second quarter of 2020, the period which witnessed the most volatile oil market conditions for many decades.
The result, announced to the Tadawul stock exchange in Riyadh where the shares are listed, compa
Giving a new life to plastic trash gets Carlos Bento out of bed every morning. But the coronavirus pandemic has seen revenues drop up to 40 percent at Micronipol, the large recycling facility he runs in central Portugal, and it faces an uncertain future.
Micronipol produces recycled polyethyl
On Thursday, two years after the historic currency crisis of August 2018, the Turkish lira hit a new record low against the US dollar and the euro despite the months-long failed interventions of state banks and Turkey’s Central Bank (CBRT) to prop up the currency and keep it pegged.
Hiring in the US slowed sharply in July as the country struggled to control the coronavirus pandemic.
Employers added 1.8 million jobs last month, down from a record 4.8 million in June.
The unemployment rate fell to 10.2%, continuing to improve from the high of 14.7% seen in April.
Lebanon could face a repair bill of up to $15 billion in the aftermath of a cataclysmic chemical blast at Beirut port, according to a top government adviser.
The explosion, which was felt as far away as Cyprus, killed at least 100 people, wounded thousands and left an additional 300,000 Beirut resi
Kuwaiti aircraft leasing company Alafco will buy fewer aircraft from Boeing after reaching an agreement to end its legal claim over a canceled 737 MAX order, it said on Tuesday.Alafco was suing the US planemaker for $336 million over accusations it wrongly refused to return advance payments on
Long associated with narrow, cobbled streets in Europe and congested Asian megacities, scooters are now becoming a common sight in car-loving America as commuters shun public transport because of the coronavirus pandemic.New Yorkers turned to the turquoise-blue rental mopeds of ride sharing company
More than half of the roughly 9 million British employees who were put on furlough during the coronavirus lockdown have already returned to work, the Resolution Foundation think tank estimated on Saturday.Britain’s finance ministry has said furlough payments totaling $42 billion so far have
Spain plunged into recession in the second quarter after its gross domestic product tumbled by 18.5 percent due to the coronavirus pandemic, official figures showed on Friday.In the first quarter, growth had fallen by 5.2 percent, the Institute of National Statistics said (INE). A recession is commo
Global airlines cut their coronavirus recovery forecast on Tuesday, saying it would take until 2024 — a year longer than previously expected — for passenger traffic to return to pre-crisis levels.
In an update on the pandemic’s crippling impact on air travel, the International A