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How COVID-19 will increase inequality in emerging markets and developing economies

How COVID-19 will increase inequality in emerging markets and developing economies

blogs.imf.org 2020-10-30 21:15:03

Emerging markets and developing economies grew consistently in the two decades before the COVID-19 pandemic hit, allowing for much-needed gains in poverty reduction and life expectancy. The crisis now...

US supports one million American jobs in Indo Pacific in two years

US supports one million American jobs in Indo Pacific in two years

-- 2020-10-30 20:03:07

The United States has supported nearly one million American jobs and assisted over 12,000 US companies active in Indo pacific region that includes Bangladesh since July 2018. The information was reve...

German economy sees record growth in third quarter

German economy sees record growth in third quarter

REUTERS 2020-10-30 16:05:22

The German economy grew by a record 8.2 per cent in the third quarter as Europe’s largest economy partly recovered from its worst-ever recession caused by the Covid-19 pandemic, data from the Fe...

Vietnam's export turnovers rise 4.7pc in 10 months

Vietnam's export turnovers rise 4.7pc in 10 months

-- 2020-10-30 12:22:05

Vietnam's export and import turnovers in the first 10 months of 2020 increased by 4.7 per cent and 0.4 per cent year-on-year respectively, according to the country's General Statistics Office on Frida...

As Covid-19 lingers, US polls near, China growth gives Asia a boost

As Covid-19 lingers, US polls near, China growth gives Asia a boost

REUTERS 2020-10-29 12:30:23

Asia is starting to see signs of economic recovery as it rides on the back of an upturn in China, which is entering a new expansion phase less than a year after it recorded the world's first cases of...

USAID announces $28m assistance to advance South Asian regional energy market

USAID announces $28m assistance to advance South Asian regional energy market

FE Online Report 2020-10-29 10:42:49

USAID has launched more than $28 million in activities to advance regional energy markets in South Asia to strengthen energy security and expand access to energy across the Indo-Pacific region. US Ag...

Tourist arrivals fall 70pc worldwide: UNWTO

Tourist arrivals fall 70pc worldwide: UNWTO

FE Online Desk 2020-10-28 15:39:59

Global tourism has witnessed a fall by 70 per cent in international tourist arrivals as the restrictions on travel introduced in response to the Covid-19 pandemic have continued to hit the sector hard...

HSBC to overhaul business model

HSBC to overhaul business model

Reuters 2020-10-27 15:37:05

HSBC Holdings on Tuesday signalled it would embark on a pandemic-induced overhaul of its business model, seeking to flip its main source of income from interest rates to fee-based businesses. Reporti...

Global FDI drops 49 pc in H1, Bangladesh also sees decline

Global FDI drops 49 pc in H1, Bangladesh also sees decline

FE Online Report 2020-10-27 13:26:07

Inflows of global foreign direct investment (FDI) fell 49.0 per cent in the first half (H1) of the current year ‘due to the economic fallout from Covid-19’. The latest Global Investment T...

Surging coronavirus cases subdue Asian shares

Surging coronavirus cases subdue Asian shares

-- 2020-10-26 13:52:23

Asian shares got the week off to a hesitant start on Monday as surging coronavirus (Covid-19) cases in Europe and the United States undermined the global outlook, while China’s leaders meet to p...

GYV Victor named first chairman of newly formed Bangladesh India Mediators Forum

GYV Victor named first chairman of newly formed Bangladesh India Mediators Forum

-- 2020-10-25 16:58:33

The Bangladesh India Mediators Forum (BIMF) was set up on October 22 with India’s GYV Victor as its first chairman and a member of the Board. BIMF seeks to promote bilateral working environment...

Ant may raise up to $17b in Shanghai IPO leg

Ant may raise up to $17b in Shanghai IPO leg

Reuters 2020-10-25 13:03:15

China’s Ant Group could raise up to $17.3 billion in the Shanghai leg of the likely $35 billion dual listing, the world’s largest ever, after some large investors submitted bids in the ran...

WTO holds back on LDCs’ request to extend TRIPS waiver

WTO holds back on LDCs’ request to extend TRIPS waiver

FE Online Report 2020-10-24 12:57:00

The Least Developed Countries’ (LDCs) request to extend the transition period of Trade-Related Aspects of Intellectual Property Rights (TRIPS) didn't get full support from the members of the Wor...

Vietnam's economy to grow by 3pc in 2020: Standard Chartered

Vietnam's economy to grow by 3pc in 2020: Standard Chartered

-- 2020-10-23 15:48:16

Vietnam's economy is expected to grow by 3.0 per cent in 2020, with rising consumption on improving sentiments and faster manufacturing driving the growth in the last quarter of this year, Vietnam New...

Britain seals first major post-Brexit trade deal with Japan

Britain seals first major post-Brexit trade deal with Japan

Reuters 2020-10-23 13:53:32

Britain and Japan formally signed a trade agreement on Friday, marking Britain’s first big post-Brexit deal on trade, as it continues to struggle to agree on a deal with its closest trading part...

Indian economy set for deepest contraction this fiscal year: Poll

Indian economy set for deepest contraction this fiscal year: Poll

-- 2020-10-22 13:53:01

The Indian economy will suffer its deepest contraction on record this fiscal year and recent government stimulus does not go far enough to significantly boost activity depressed by the coronavirus pan...

Virtual Indo-Pacific Business Forum registration opens

Virtual Indo-Pacific Business Forum registration opens

FE ONLINE REPORT 2020-10-22 11:25:14

Registration for the October 28 and 29, 2020 virtual Indo-Pacific Business Forum (IPBF) is open, according to a US Embassy Dhaka statement issued on Wednesday. Senior US and international government...

More than half of Europe’s small businesses fear for survival: Survey

More than half of Europe’s small businesses fear for survival: Survey

-- 2020-10-22 10:55:28

Over half the small and medium-sized companies which together provide jobs for two-thirds of European workers fear for their survival in the coming 12 months, according to a survey released by managem...

Kuwait passes law to cut expat numbers

Kuwait passes law to cut expat numbers

-- 2020-10-21 21:18:37

Kuwait’s parliament has approved a law to reduce the number of foreign workers in the country by one year, as part of efforts to ‘rebalance’ its population. The new legislation, whi...

IMF cuts Asia's growth forecast

IMF cuts Asia's growth forecast

-- 2020-10-21 19:31:11

The International Monetary Fund slashed this year’s economic forecast for Asia, reflecting a sharper-than-expected contraction in countries like India, a sign the coronavirus pandemic continues...

World trade rebounding slowly, outlook uncertain: UN report

World trade rebounding slowly, outlook uncertain: UN report

Reuters 2020-10-21 16:40:05

The value of global trade is set to fall by 7.0 per cent to 9.0 per cent in 2020 from the previous year, despite signs of a fragile rebound led by China in the third quarter, a United Nations report s...

Value of global trade set to fall by 7-9pc in 2020: UNCTAD

Value of global trade set to fall by 7-9pc in 2020: UNCTAD

Reuters 2020-10-21 13:25:43

The value of global trade is set to fall by 7 per cent to 9 per cent in 2020 from the previous year, despite signs of a fragile rebound led by China in the third quarter, a United Nations report said...

IMF officials call for strengthening cooperation to enhance cross-border payments

IMF officials call for strengthening cooperation to enhance cross-border payments

-- 2020-10-20 16:02:23

Senior officials at the International Monetary Fund (IMF) have called for strengthening international cooperation to improve cross-border payments as many central banks are exploring the issuance of d...

China’s economy sees quick recovery as consumption returns

China’s economy sees quick recovery as consumption returns

REUTERS 2020-10-19 16:14:26

China’s economic recovery accelerated in the third quarter as consumers shook off their coronavirus caution, although the weaker-than-expected headline growth suggested persistent risks for one...

Italy unveils new stimulus package to help virus-hit economy

Italy unveils new stimulus package to help virus-hit economy

Reuters 2020-10-18 16:08:03

Italy has approved a new stimulus package in its 2021 budget to foster an economic rebound from the recession caused by the coronavirus crisis, a government statement said on Sunday after a late-night...

Sri Lanka's central bank approves $966m business relief loans

Sri Lanka's central bank approves $966m business relief loans

-- 2020-10-18 12:40:23

The Central Bank of Sri Lanka (CBSL) has approved 966 million US dollars worth of loans under a relief programme for coronavirus (Covid-19) affected businesses, local media reported on Sunday. A tota...

83pc women farmers of Africa, Asia lost livelihood amid pandemic

83pc women farmers of Africa, Asia lost livelihood amid pandemic

FE ONLINE REPORT 2020-10-16 19:32:44

Some 83 per cent women farmers of 14 countries in Africa and Asia including Bangladesh reported a loss of livelihoods during the pandemic, with 65 per cent saying they are experiencing food shortages,...

IMF lifts China’s GDP forecast to 1.9pc in 2020

IMF lifts China’s GDP forecast to 1.9pc in 2020

Global Times 2020-10-16 17:07:34

The IMF projects that China's GDP will grow by 1.9 per cent in 2020, up from 1.0 per cent in its last projection in June, citing a faster-than-expected recovery in China. China will be the only major...

European shares bounce back from two-week lows

European shares bounce back from two-week lows

-- 2020-10-16 14:20:55

European shares bounced from two-week lows on Friday but were still set for weekly losses after a sell-off that was marked by fears of a second wave of COVID-19 infections, Brexit-related uncertainty...

UN chief calls for investment in rural women to help build resilience to crises

UN chief calls for investment in rural women to help build resilience to crises

-- 2020-10-16 11:48:33

United Nations Secretary-General Antonio Guterres has called for efforts to invest in rural women and help them build resilience to future crises. "Together, we must invest in rural women so that the...