Global Economy

US Trade Deficit Widens As Exports Hit 10-Year Low

Business | Reuters | Thursday June 4, 2020

The Commerce Department said on Thursday the trade deficit jumped 16.7 per cent to $49.4 billion

Lufthansa, German Government Agree On $9.8 Billion Rescue Package: Report

Business | Reuters | Monday May 25, 2020

The carrier said last week it was in advanced talks on a deal that would involve the government taking two seats on its supervisory board.

JPMorgan Hands Out $30 Billion In Loans To Small Businesses

Business | Reuters | Tuesday May 19, 2020

JPMorgan, the largest U.S bank, approved more than $45 billion in new credit for its clients impacted by the COVID-19 pandemic in March and April.

Full Global Economic Recovery Unlikely In 2021, Warns IMF Chief

World News | Reuters | Monday May 18, 2020

The global economy will take much longer to recover fully from the shock caused by the new coronavirus than initially expected, the head of the International Monetary Fund said, and she stressed the danger of protectionism.

Saudi Arabia Says It Will Cut June Oil Output By An Extra 1 Million Barrels A Day

Business | Reuters | Monday May 11, 2020

Global oil demand has slumped by about 30 percent as the coronavirus pandemic has curtailed movement across the world

Coronavirus Inflicts Huge Job Losses In US As Pandemic Breaches White House Walls

Business | Reuters | Sunday May 10, 2020

Labor Department reported the USunemployment rate rose to 14.7 percentlast month, up from 3.5 percentin February

Now Is The Time For Public Investment Projects, Says IMF

Business | Reuters | Wednesday May 6, 2020

Last month, the IMF forecast the global economy would shrink 3 percent during 2020

India's Services Activity Collapses As Coronavirus Paralyses Global Economy: Survey

Business | Reuters | Wednesday May 6, 2020

The steep downturn in activity underlined the widespread havoc wrought by the pandemic worldwide, with many fearing the worst global recession since the 1930s.

Twitter Swings to Loss Despite User Surge in Pandemic

Agence France-Presse | Thursday April 30, 2020

Last month, Twitter dialed back its financial guidance as a result of the COVID-19 outbreak, which has dealt a blow to the global economy and advertising, which makes up the bulk of its revenues.

Coronavirus Pandemic Could Fuel Demand For Diaspora Bonds: World Bank

Business | Reuters | Tuesday April 28, 2020

World Bank officials on Friday warned that developing economies could suffer close to a 3 per cent decline in economic output if consumption and investment do not rebound quickly after the coronavirus pandemic.

When Oil Became Waste: A Week Of Turmoil For Crude And More Pain To Come

Business | Reuters | Sunday April 26, 2020

In Russia, one of the world's top producers, the industry is considering resorting to burning its oil to take it off the market

6 IIT Students' Job Offers Revoked: How COVID-19 Is Impacting Placements

India News | Written by Maya Sharma, J Sam Daniel Stalin, Edited by Sumana Nandy | Thursday April 23, 2020

The highly contagious coronavirus pandemic, which has infected over 2.5 million people worldwide, has had a massive impact on the global economy.

Coronavirus: World Economy Bound To Suffer "Severe Recession", Says IMF

World News | Press Trust of India | Saturday April 18, 2020

The world economy, already "sluggish" before the coronavirus outbreak, is now bound to suffer a "severe recession" in 2020, IMF chief Kristalina Georgieva has warned and said the current crisis posed "daunting challenges" for policymakers in many emerging markets and developing economies.

COVID-19: Estimates Suggest Global Downturn Deeper Than Great Recession, Says World Bank

Business | Press Trust of India | Saturday April 18, 2020

The World Bank has so far financed COVID-19 programmes in 64 developing countries and will have 100 countries underway by the end of April.

OPEC Says Oil Market Undergoing 'Historic Shock'

Business | Edited by Abhik Deb (with inputs from agencies) | Thursday April 16, 2020

Meanwhile, oil prices rose on Thursday, with US crude rebounding from near-20-year lows in the previous session