Economy
World / Countries / MNCs
New York: At least two-thirds of households with children have lost income since the COVID-19 pandemic hit two years ago, according to a joint report published on Wednesday by the UN children’s agency (UNICEF) and World Bank. more
Rising caseloads, disrupted recovery, higher inflation: New IMF forecast

The institution now expects the global economy to expand from a 5.9 per cent increase in 2021 to 4.4 per cent this year. The number is half a percentage point lower than predicted in Octo ...

COVID-19 pandemic stalls global economic recovery: UN report

The UN’s key report on the global economy, released on Thursday, shows that the rapid spread of the Omicron COVID-19 variant has put the brakes on a rapid recovery, counteracting si ...

COVID-19, aging population disrupting China's attempt to stabilise market in 2022

Beijing: COVID-19 spike and fast aging population have emerged as the new threat for China to fight the task of stabilising employment next year, media reports said.

Coronavirus pandemic could cost global tourism $2 trillion this year

New York: The coronavirus pandemic will likely cost the global tourism sector $2 trillion in lost revenue in 2021, the UN's tourism body said Monday, calling the sector's recovery ...

Sri Lanka declares emergency over acute food shortages

Colombo: Sri Lanka has declared an emergency over food shortages due to a lack of foreign exchange to finance imports amid a hard-hitting economic crisis.

Food systems transformation a ‘silver lining’ in COVID crisis: UN deputy chief

New York: A sustainable and prosperous planet can only be achieved through working together and in solidarity, the UN Deputy Secretary-General said on Wednesday at the end of a major glob ...

Amid COVID job losses, ‘high food prices are hunger’s new best friend’, WFP warns

New York: Job losses caused by the COVID-19 pandemic combined with high food prices are making it hard for millions of families to get enough to eat, the World Food Programme (WFP) warned ...

US manufacturers face tough challenges from China's 1-cent masks

Washington: Cheap import of masks from China is blamed by US manufacturers of Premium-PPE as the reason behind the plunge of mask production.

COVID-19 impact on tourism could deal $4 trillion blow to global economy: UN report

New York: The impact of the COVID-19 pandemic on tourism could result in a more than $4 trillion loss to the global economy, UN trade and development body UNCTAD said on Wednesday in a re ...