Economy

World / Countries / MNCs

COVID-19 to cause biggest economic contraction ever in Latin America & Caribbean

New York : The COVID-19 pandemic will herald the worst economic contraction in the history of Latin American and the Caribbean, with a projected -5.3 per cent drop in activity this year, according to a report by the UN office for the region, ECLAC, published on Tuesday. more

Tough times for tourism, but UN travel organization predicts holiday traffic will return

New York : Tourism may have been brought to a near-standstill by COVID-19, but the industry – which accounts for 10 per cent of global GDP – finds itself in a unique position ...

Japan's Foreign Minister says economy facing worst postwar crisis due to COVID-19 pandemic

Tokyo/Sputnik: Japan’s economy is facing the most serious crisis since World War II due to the coronavirus pandemic, Japanese Foreign Minister Toshimitsu Motegi said on Monday ...

Coronavirus economics: Debt-laden countries at risk, as financial markets screech to a halt

New York : Economists and finance experts are warning that countries with “high” or “distressed” public debt levels are at risk of severe economic shocks amid the ...

California's unemployment rate jumps to 5.3 percent in March amid COVID-19 outbreak

Washington/Xinhua: The unemployment rate in California rose to 5.3 percent in March, according to latest data released by the state's Employment Development Department (EDD) Saturday. ...

China's crude steel output down 1.7 pct in March

Beijing/Xinhua: China produced 78.98 million tonnes in March, down 1.7 percent year on year, as mills cut back production due to relatively high stockpiles and weak profits amid the novel ...

Global Economy to Shrink 2.8 percent in 2020 Due to Coronavirus Pandemic - Report

Brussels/Sputnik: The coronavirus pandemic looks set to shave off 2.8 percent from the global economic output this year, a UK-based forecasting firm has predicted in its monthly report.

Pakistan's economy may fall into recession due to COVID-19 break - World Bank

Islamabad/Xinhua: Pakistan may fall into an economic recession owing to the outbreak of COVID-19 in the country, a World Bank report said on Sunday.

US jobless claims again surpassed 6 mln last week as COVID-19 devastates economy

Washington/Xinhua: The number of initial jobless claims in the United States totaled 6.6 million last week amid mounting economic fallout from COVID-19, following a similar staggeri ...

Over 1Mln jobs lost in Canada in March amid COVID-19 pandemic: Labor Force Survey

Toronto/Sputnik/UNI: More than a million Canadians lost their jobs last month, pushing the unemployment rate up 2.2 percentage points to 7.8 percent amid the growing novel coronavirus (CO ...