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The Financial Express

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Rich nations must make pandemic recovery plans green: Global investors

Rich nations must make pandemic recovery plans green: Global investors

Reuters 2020-05-04 10:47:40

The world’s richest nations must ensure their COVID-19 recovery plans are sustainable and help meet the goals of the Paris climate accord, according to leading global investor groups that togeth...

IMF approves $643 million in pandemic aid for Ecuador: Ministry

IMF approves $643 million in pandemic aid for Ecuador: Ministry

-- 2020-05-02 12:40:26

The International Monetary Fund has approved a request from Ecuador for emergency financing to fight the coronavirus pandemic, granting a $643 million loan, the Andean country’s economy ministry...

Hit by lockdown, Nepal cuts growth forecast to lowest in four years

Hit by lockdown, Nepal cuts growth forecast to lowest in four years

REUTERS 2020-05-01 14:14:59

Nepal has cut its economic growth forecast for the fiscal year that ends in mid-July to the lowest in four years, saying on Thursday the country had taken a hit from a nationwide lockdown to control t...

GDP down 3.3pc in euro area, 2.7pc in EU in Q1

GDP down 3.3pc in euro area, 2.7pc in EU in Q1

-- 2020-04-30 15:55:46

Euro area economy contracted 3.3 per cent in the first quarter (Q1) year on year, while the broader European Union economy contracted 2.7 per cent year on year, the bloc's statistical office said on T...

Half of global workforce at risk of losing livelihoods: ILO

Half of global workforce at risk of losing livelihoods: ILO

FE Online Report 2020-04-29 18:24:20

Nearly half of global workforce is at risk of losing livelihoods due to growing number of job losses amid the Covid-19 pandemic. The continued sharp decline in working hours globally due to the COV...

Zoom selects Oracle as a cloud infrastructure provider

Zoom selects Oracle as a cloud infrastructure provider

FE Online Desk 2020-04-29 17:14:36

Oracle on Wednesday announced that Zoom Video Communications, Inc. is turning to Oracle Cloud Infrastructure to support its growth and evolving business needs as the enterprise video communications...

Federal Reserve’s four radical moves to save economy

Federal Reserve’s four radical moves to save economy

BBC 2020-04-29 16:34:29

As policymakers from America's central bank prepare to meet - virtually - this week, they will be looking to see if the extraordinary steps they have taken to confront the world's most severe economic...

Saudi foreign reserves fall at fastest in at least two decades

Saudi foreign reserves fall at fastest in at least two decades

Reuters 2020-04-29 14:51:03

Saudi Arabia’s central bank foreign reserves fell in March at their fastest rate in at least 20 years and to their lowest since 2011, while the kingdom slipped into a $9 billion budget deficit i...

Asia shares extend gains as economies slowly re-open

Asia shares extend gains as economies slowly re-open

Reuters 2020-04-29 11:29:56

Asian shares rose for a third session on the trot on Wednesday as investors took heart from easing coronavirus lockdowns in some parts of the world while oil prices jumped on hopes demand will pick up...

Boeing eyes major bond issue to raise funds 

Boeing eyes major bond issue to raise funds 

REUTERS 2020-04-29 10:58:15

Boeing is working with investment banks on a multibillion-dollar bond-fuelled financing package, aiming to shore up its balance sheet amid a sharp travel downturn from the pandemic, three people famil...

UN lays out roadmap to lift economies, save jobs after COVID-19

UN lays out roadmap to lift economies, save jobs after COVID-19

Xinhua 2020-04-28 18:43:15

In a new framework released Monday as a roadmap to support countries' path to social and economic recovery, the United Nations called for an extraordinary scale-up of international support and politic...

German economy to contract by 6.6pc in 2020

German economy to contract by 6.6pc in 2020

-- 2020-04-28 15:05:32

German economic institute Ifo has said it expected the economy to contract by 6.6 per cent in 2020 year-on-year due to the coronavirus pandemic. It said on Tuesday that the Europe’s largest eco...

White House shifting focus to economy

White House shifting focus to economy

AP 2020-04-27 11:56:54

The White House is planning to shift President Donald Trump's public focus to burgeoning efforts aimed at easing the economic devastation caused by coronavirus (COVID-19) pandemic. Days after he publ...

Job losses loom in US as states set to reopen

Job losses loom in US as states set to reopen

Reuters 2020-04-27 10:16:56

Another wave of states prepared to ease coronavirus restrictions on US commerce this week, despite health experts warning there is still too little diagnostic testing, while the White House forecast a...

Restarting Canadian economy doesn’t hinge on coronavirus 'immunity': Trudeau

Restarting Canadian economy doesn’t hinge on coronavirus 'immunity': Trudeau

REUTERS 2020-04-26 15:50:21

Plans underway to restart the economies of Canadian provinces do not depend on presuming people who become infected with coronavirus develop immunity to it, Canadian Prime Minister Justin Trudeau said...

India plans quick review of Chinese investment proposals

India plans quick review of Chinese investment proposals

-- 2020-04-25 22:06:59

India plans to fast track the review of some investment proposals from neighbouring countries, including China, following concerns new screening rules could hit plans of companies and investors, three...

Philippine economy to suffer record contraction

Philippine economy to suffer record contraction

-- 2020-04-25 14:37:21

The coronavirus (COVID-19) outbreak will likely send the Philippine economy into its first annual contraction in more than two decades this year, before it pulls back up for a U-shaped recovery in 202...

Developing nations’ debt burden may soar to $3.4 trillion, says UNCTAD

Developing nations’ debt burden may soar to $3.4 trillion, says UNCTAD

FE ONLINE REPORT 2020-04-24 15:34:28

Developing countries’ repayments on their public external debt alone may soar to between US$2.6 trillion and $3.4 trillion in the current and next year respectively. The United Nations Conferen...

IMF approves $28.9m assistance to Maldives

IMF approves $28.9m assistance to Maldives

-- 2020-04-24 11:51:35

The International Monetary Fund (IMF) has approved a disbursement of 28.9 million US dollars to the Maldives as the number of COVID-19 cases in the country continued to rise, local media reported. Th...

Asian shares fall on coronavirus drug, economic damage concerns

Asian shares fall on coronavirus drug, economic damage concerns

REUTERS 2020-04-24 09:50:04

Asian shares and US stock futures fell on Friday, spurred by doubts about progress in the development of drugs to treat COVID-19 and new evidence of US economic damage caused by the coronavirus pandem...

India pushes lending, asks banks for daily reports

India pushes lending, asks banks for daily reports

-- 2020-04-23 18:56:29

India's government has redoubled efforts to push state-run banks to boost lending and it has demanded that lenders submit a daily report detailing the volume and scale of loans sanctioned, according t...

Countries struggle to save lives and livelihoods as COVID-19 rages on

Countries struggle to save lives and livelihoods as COVID-19 rages on

Xinhua 2020-04-23 16:47:07

As the confirmed COVID-19 cases worldwide continue to rise, major countries and regions are struggling with a predicament to save lives and livelihoods. Meanwhile, international cooperation is highli...

US states, public divided over reopening economy

US states, public divided over reopening economy

-- 2020-04-23 12:02:13

US President Donald Trump is at odds with a number of states run by Democratic governors, in a push-and-shove match over reopening the country’s economy. Trump and some Republican governors are...

Pandemic throws Asia’s services firms, factories into deeper decline

Pandemic throws Asia’s services firms, factories into deeper decline

-- 2020-04-23 09:44:53

The coronavirus pandemic battered Asian economies in April with social-distancing policies and business closures taking a particularly heavy toll on the region’s service sector firms, surveys sh...

Facebook to buy 10pc stake in India's Reliance

Facebook to buy 10pc stake in India's Reliance

Reuters 2020-04-22 11:58:06

Facebook will buy a 10 per cent stake in the digital business of India’s Reliance Industries for $5.7 billion, as the social media firm looks to leverage its highly popular WhatsApp chat service...

Italy sees end-2020 debt-to-GDP ratio at 155pc-159pc

Italy sees end-2020 debt-to-GDP ratio at 155pc-159pc

-- 2020-04-22 10:23:44

The Rome government sees Italy’s debt-to-GDP ratio surging to between 155 per cent and 159 per cent of national output this year, sources close to the matter told Reuters, as it increases borrow...

Huawei announces Q1 2020 business results

Huawei announces Q1 2020 business results

FE Online Desk 2020-04-21 22:56:32

Huawei on Tuesday announced its business results for the first quarter of 2020. In Q1 of this year, Huawei generated USD 25.7 billion in revenue, an increase of 1.4% year-on-year. The company's net...

Crude costs money again after shock crash, stocks stay in doldrums

Crude costs money again after shock crash, stocks stay in doldrums

REUTERS 2020-04-21 13:26:15

US crude oil bounced back into positive territory on Tuesday, but a historic plunge below zero rattled investors and triggered the steepest drop in Asian stock markets in a month. Traders could not g...

India restarts factories, farming in rural areas even as coronavirus cases rise

India restarts factories, farming in rural areas even as coronavirus cases rise

REUTERS 2020-04-21 12:04:00

Some shops and businesses opened in rural India on Monday as part of a staggered exit from a weeks-long lockdown that has left millions out of work and short of food, while coronavirus infections rose...

Asia shares turn quietly cautious, US crude crushed

Asia shares turn quietly cautious, US crude crushed

REUTERS 2020-04-20 11:09:13

Caution gripped Asian share markets on Monday on expectations a busy week of corporate earnings reports and economic data will drive home the damage done by the global virus lockdown, while a glut of...