The hit from the coronavirus pandemic has put the German economy – the largest in Europe, into a technical recession. In the first quarter of 2020, there was a contraction 2.2 per cent in the German economy which was the worst since the global financial crisis of 2007-08. Experts had expected a contraction to be…
Even after the current spate of the novel coronavirus pandemic is over, there can be “no going back to business as usual”, the World Health Organization warned world leaders on Wednesday. Many countries are hoping to kickstart their economies that have been ravaged by extended lockdowns and closure of businesses to fend of the spread…
A package worth almost $1 trillion is being committed by Japan to be used for supporting its economy from the hit of the coronavirus pandemic. A 108 trillion yen ($989 billion) relief package was announced by the Japanese Prime Minister Shinzo Abe on Monday. The amount is staggering and is equivalent to about 20 per…
The largest maker of respirator masks – 3M, is willing to comply with the order of the United States president Donald Trump of manufacturing and supplying of more needed N95 masks that are critically needed in the country, the company said on Sunday. However the company also sounded a caution about not being allowed to…
The dire need to provide debt relief to the poorer countries that have been hit by the coronavirus pandemic was reiterated by the chiefs of the World Bank and International Monetary Fund on Friday while also insisting that major role has to be played by official bilateral creditors. Emergency programs to offer grants and loans…
Japan and the International Olympic Committee have jointly decided to postpone the 2020 Tokyo Olympics by a year and said that the Games will be held in 2021. This decision was taken and multiple rounds of discussions between Japan’s Prime Minister Shinzo Abe and IOC president Thomas Bach. This is only the fourth time in…
Troops of the United States National Guard are to be deployed in the three states hardest hit by the coronavirus outbreak and the order was signed by the US President Donald Trump. Medical aid and setting up of medical stations will be the main mandate for the troops who will be deployed in New York,…
Tens of millions of American in the states of New York state, Illinois and Connecticut were directed to stay home on Friday – following a similar order by California as a part of the social distancing measures being implied in the United States to try and prevent the spread of the coronavirus pandemic through person…
According to the vision of the European Union about its future relationship with the United Kingdom, the bloc wants a guarantee from Britain of “uniform implementation” of Brussels’s state subsidy rules as well as the handing down of rulings of the European court of justice to British courts, claimed a report published by The Guardian…
Lebanon will be defaulting on its debt for the first time, confirmed the country’s Prime Minister Hassan Diab on Saturday. The country will not be able to serve a $1.2 billion or €1.35 billion Eurobond which is due to mature on Monday, said Diab during a televised address. This announcement was made after a high…
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