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As US economy falters, state governors mull May 1 reopening A desolate Staten Island Ferry Terminal on April 15, 2020, in the Staten Island borough of New York City. (AFP photo)
Governors of about 20 US states spared the worst of the coronavirus pandemic may start reopening their economies by President Donald Trumps May 1 target date, a top US health official... |
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Asias 2020 growth to halt for 1st time in 60 years amid coronavirus pandemic: IMF The skyline of the Beijings Central Business District rises behind people crossing a street during evening rush hour as the spread of coronavirus disease (COVID-19) continues in China, April 15, 2020. (Reuters photo)
The International Monetary Fund says Asias economic growth will come to a halt in... |
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IMF: Global economy will suffer worst year since Great Depression The International Monetary Fund headquarters building is seen ahead of the IMF-World Bank spring meetings in Washington, the United States, on April 8. (Photo by Reuters)
Beaten down by the coronavirus outbreak, the world economy in 2020 will suffer its worst year since the Great Depression of the 1930s,... |
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US deficit to soar to record $3.8 trillion in 2020, budget watchdog group says A steep economic downturn and massive coronavirus rescue spending will nearly quadruple the fiscal 2020 US budget deficit to a record $3.8 trillion, a staggering 18.7% of US economic output, a Washington-based watchdog group said on Monday.
Releasing new budget estimates based on spending mandated by... |
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Saudi Arabia submits to oil output cut after US threat A handout photo released by the Saudi Press Agency (SPA) on April 9, 2020 in Riyadh shows Saudi Energy Minister Prince Abdulaziz bin Salman al-Saud (R), chairing the virtual extraordinary meeting of Organisation of the Petroleum Exporting Countries (OPEC) and non-OPEC countries, amid the novel coronavirus... |
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Feds Kashkari says US economy faces long, hard road to recover from coronavirus An empty New York Subway car is seen on March 23, 2020 in New York City. (AFP photo)
The US economic recovery from the disruptions caused by the novel coronavirus outbreak will likely be a "long, hard road" in which some parts of the economy will periodically shut down and restart, Minneapolis Federal... |
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Coronavirus: EU finance ministers agree on 500 billion emergency fund EU Finance ministers agreed on Thursday to a common emergency plan to limit the impact of the coronavirus pandemic on the European economy.
EU member states have agreed to an emergency response plan of €500 billion.
"This proposal contains bold and ambitious proposals that would have been unthinkable... |
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US weekly jobless claims hit 15mn as corona crisis deepens US visitors to the New York State Department of Labor offices are turned away at the door by personnel. AP/John Minchillo
The number of Americans seeking unemployment benefits has hit a staggering 15 million as the coronavirus pandemic has brought the United States to a halt.
The country recorded 5.250... |
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Global stocks gain on hopes pandemic is reaching peak The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, April 8, 2020. (Reuters photo)
Global shares rose on Thursday on hopes the COVID-19 pandemic was nearing a peak and that governments would roll out more stimulus to support their economies, while expectations... |
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Oil prices climb on optimism OPEC+ meeting will result in supply cut Oil pumping jacks, also known as "nodding donkeys", operate in an oilfield near Almetyevsk, Tatarstan, Russia, on Wednesday, March 11, 2020. (Photo by Getty Images)
Oil prices rose Thursday as the worlds largest oil producers are expected to agree to slash output as part of an effort to shore up coronavirus-hit... |
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US economy to suffer devastating hit: Former Federal Reserve Chair Janet Yellen Federal Reserve Board Chair Janet Yellen speaks during a briefing at the US Federal Reserve December 13, 2017 in Washington, DC. (AFP photo)
Former Federal Reserve Chair Janet Yellen has expressed strong concerns that the worlds biggest economy is in the throes of a "devastating hit".
The novel coronavirus-induced... |
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Low oil prices exacerbating coronavirus outbreak in Venezuela Oil pump jacks are seen in Lagunillas, Venezuela May 24, 2018. (Photo by Reuters)
Venezuelas economy is facing new challenges, as the oil prices have hit record lows in the past days, dropping to as low as 18 dollars per barrel.
The oil price war between Saudi Arabia and Russia is starting to impact... |
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Altered Finance Ministry Opens Doors for Corruption: Watchdog Integrity Watch Afghanistan (IWA) on Saturday strongly criticized a decision by Afghanistan’s Ashraf Ghani to split up the Afghan Ministry of Finance into three separate entities including the office of revenues and customs, the office of the treasury, and the finance administration.
Based on... |
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Blame game between Saudi, Russia to cause delay to OPEC+ meeting: Report A report shows there is no immediate deal in sight for new OPEC+ cuts because of the Saudi-Russia rift.
A new report suggests that Saudi Arabia and Russia are still far from reaching a quick agreement on cuts to oil supply as rifts between the two rival producers deepen over who is to blame for a recent... |
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World Bank Approves $100M in Aid for Afghanistan The World Bank has approved a $100.4 million grant for the fight against COVID-19 in Afghanistan, according to a statement by the organization.
The fund is part of the Emergency Response and Health Systems Preparedness Project of the World Bank to help Afghanistan take effective action to respond... |
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Blast near joint border halts Irans gas exports to Turkey Iran exports gas to Turkey via a 2,577 km (1,601 miles) pipeline running from Tabriz to Ankara.
Irans natural gas exports to Turkey have stopped following an explosion on a pipeline near their joint border, an official at the National Iranian Gas Company (NIGC) said on Tuesday.
"The explosion occurred... |
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Wuhan, Chinas COVID-19 ground zero, re-opens for business A store worker in protective suit waits for customers at a re-opened retail street in Wuhan in central Chinas Hubei province on Monday, March 30, 2020. - Copyright Olivia Zhang/Copyright 2020 The Associated Press. All rights reserved.
Shopkeepers in the city at the centre of the virus outbreak... |
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EasyJet grounds entire fleet due to coronavirus pandemic file photo taken on December 29, 2019, an aircraft operated by British low cost airline Easyjet prepares for take off - Copyright JOHN MACDOUGALL/AFP
The budget airline EasyJet says it is grounding its entire fleet of aircraft because of "unprecedented travel restrictions imposed by governments"... |
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UK government promises freelancers payouts during coronavirus pandemic A member of the DLR (Docklands Light Railway) staff puts up an information poster asking people not to travel, at Prince Regent station close to the ExCeL London exhibition centre in London on March 27, 2020.
After receiving a slew of demands from dozens of companies and economists, the British government... |
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IMF chief says world is in recession, containment will dictate strength of recovery An exterior view of the building of the International Monetary Fund (IMF) is seen on March 27, 2020 in Washington, DC. (AFP photo)
International Monetary Fund chief Kristalina Georgieva said Friday that the global economy is now in a recession thanks to COVID-19, but that shes heartened to see world... |
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Virus triggers unprecedented collapse in EU, US economies Trading on Wall Street was temporarily halted on March 9, 2020, as US stocks joined a global rout. (Photo by AFP)
Indicators released on Tuesday showed "an unprecedented collapse" in business from Australia and Japan to Western Europe and the United States.
"The coronavirus outbreak represents a major... |
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Four US banks worlds largest fossil fuel financiers: Study Citibank headquarters in Manhattan, New York, July 14, 2014 (AFP photo)
Four US banks are the worlds largest fossil fuel financiers, funneling more than $2.6 trillion into the industry since the Paris climate agreement was signed four years ago, according to a new analysis from a coalition of environmental... |
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Iranians sue UK bank for blocking accounts, seek 1.5mn in damages People walk past a Metro Bank in London, Britain, May 22, 2019. (Photo by Reuters)
A group of Iranians is suing troubled British lender Metro Bank for suspending their accounts without notice or explanation.
The group of 17 claimants is seeking at least 1.5 million pounds in damages for being denied... |
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US airlines seek $50 billion coronavirus aid package to avoid collapse American Airlines aircraft are shown parked at their gates at Miami International Airport in Miami, April 24, 2019. (AP Photo/Wilfredo Lee, File)
Major US airlines have sought a government bailout of more than $50 billion as the White House is urgently drafting a financial assistance package in the... |
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US Fed slashes key interest rate to 0-0.25% amid pandemic Faced with a growing economic shutdown from the global new coronavirus pandemic, the US Federal Reserve on Sunday announced drastic emergency measures to shore up confidence and keep the financial sector running, including slashing the key interest rate to virtually zero.
The Fed made its second emergency... |
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Coronavirus pandemic hits businesses, disrupts transportation worldwide This file photo taken on June 27, 2019 shows Air France and Joon (Air-France low-cost company)s Airbus and Boeing planes parked on the tarmac of Roissy-Charles de Gaulle Airport, north of Paris. (Photo by AFP)
The new coronavirus pandemic is rapidly spreading across the globe, dealing hard blows to... |
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Oil prices fall further as Trump EU travel ban fans recession fears West Texas Intermediate slipped 6.2 per cent to USD 31 a barrel while Brent crude was off 5.8 per cent at under USD 34 a barrel. (Photo Credit: Twitter)
Oil prices have plunged a further six percent Thursday after US President Donald Trump announced travel restrictions on Europe to combat the spread... |
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Dollar slides after Trump bans travel from Europe to fight virus US President Donald Trump addresses the Nation from the Oval Office about the widening novel Coronavirus (covid-19) crisis in Washington, DC on March 11, 2020. (AFP photo)
The dollar careened against the euro and yen on Thursday after US President Donald Trump rattled markets with a month-long ban on... |
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Trump under pressure as recession fears mount over coronavirus Photo: Timothy A. Clary/AFP via Getty Images
US President Donald Trumps administration is under pressure amid coronavirus-driven recession fears as stock markets rattled and health officials issued more warnings.
Wall Street on Monday suffered its biggest one-day loss since the 2008 financial crisis,... |
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Global equity markets crash on virus fears, plunge in oil prices A woman wearing a mask walks past a stocks board displaying the Hang Sang Index closing price in Hong Kong on January 30, 2020. (Photo by AFP)
Equity markets collapsed Monday as the rapidly spreading coronavirus fans fears for the global economy, while a crash in oil prices added to the panic with energy... |
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