In a statement on Monday, the Asian Development Bank announced that it is tripling the size of its rescue package to developing countries in Asia to $20 billion in order to help them cope with the severe macro-economic and health… Read More ›
Economy & Finance
China buying U.S. agricultural products as per Phase 1 trade agreement, looks forward to coordinated response
On Sunday, China’s Global Times cited China’s ambassador to the U.S. as saying, China is in the midst of implementing the first phase of the U.S.-China trade pact and hoped that the two could work together to assess the changing… Read More ›
Coronavirus Pandemic Crisis Forces Airbus To Scuttle Plans For New A321 Plant
In what was the latest exemplification of the impact of the coronavirus pandemic ripping through the global airline industry, the plans of aircraft making giant Airbus to create a new assembly line for its A321 airliner has have been cancelled… Read More ›
Major Oil Producers Agree On A Possible Production Cut To Stabilize Price
There is good news for oil producers across the world. The price war that was raging between Russia and Saudi Arabia since the last one month has apparently come to an end as the two of the largest oil producing… Read More ›
China’s banking regulator intensifies effort to channel more funds and regulate finances of SMEs
On Friday, China’s banking regulator stated, it will start monitoring the quantum of support being provided by lenders to struggling smaller firms, in what is the latest push to channel more funds into the country’s most vulnerable business sector. For… Read More ›
China facing unprecedented economic challenges: China’s assistant commerce minister
On Friday, China’s assistant commerce minister Ren Hongbin told reporters, Beijing is facing unprecedented challenges because of the coronavirus pandemic that has spread across the globe to more than 200 countries. At a news briefing, Ren Hongbin said, following a… Read More ›
France earmarks $21.7 billion for corporate bailouts of public & private companies
On Friday, French Finance Minister Bruno Le Maire stated, the French government has allocated $21.7 billion (20 billion euros) for helping big companies shore up their capital reserves. “We’ve decided to put credit on the fund, to put 20 billion… Read More ›
Grim Forecast For US Auto Industry In Q2 Due To Coronavirus Pandemic
For the first time since World War II, the number of cars that will be manufactured in the United States this month will be the lowest as auto production has come to a near standstill because of the coronavirus pandemic…. Read More ›
Oxfam Warns Half A Billion People Could Be Pushed Into Poverty Due To Virus Pandemic
According to a warning issued by Oxfam, up to half a billion people all across the world could be pushed into the poverty because of the economic fallout from coronavirus pandemic that is raving the world. If the warning of… Read More ›
Nissan seeking $4.6 billion line of credit following coronavirus sales hit
On Thursday, Japan’s Nikkei business daily reported, Nissan Motor has requested a $4.6 billion (500 billion yen) line of credit from major lenders following a downward trend in sales due to the coronavirus outbreak. Nissan made the request to three… Read More ›
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