The International Monetary Fund (IMF) on Tuesday has dramatically downgraded its outlook on the global economic growth, projecting a sharp contraction for this year amid “exceptionally high” uncertainty. “The COVID-19 pandemic is inflicting high and rising human costs worldwide, and the necessary protection measures are severely impacting economic activity. As a result of the pandemic,...
The lower house of the Russian parliament, the State Duma, has approved the first reading of the bill, according to which foreigners no longer have to give up their existing citizenship when being granted the Russian one. Currently, when applying for Russian citizenship, foreigners must confirm that they had addressed their country's corresponding bodies in...
The economic damage from a protracted coronavirus pandemic shutdown will be “incredible,” according to veteran emerging-markets investor Mark Mobius, who says there's an urgent need to restart the global economy. “I think we have to open up again in some way, because otherwise the collateral damage is going to be incredible,” he warned, in an...
The finance leaders of the Group of Seven states agreed on Tuesday on the need to provide financial and technical assistance to emerging economies battling with the fallout from the coronavirus pandemic, according to Japanese Finance Minister Taro Aso. G7 finance leaders discussed the need for a coordinated response to deal with the damage the...
In the past, when a crisis hit the US, it caused a rally to the flag. Amid the Covid-19 pandemic, though, President Trump's ratings have remained comparatively level, as voters retreat to their hyper-partisan echo chambers. There has been a fair amount of analysis of President Trump's benefit from a ‘rally around the flag' boost...
Pakistani Prime Minister Imran Khan on Tuesday announced a two-week extension to the nationwide shutdown to curb the coronavirus spread, but said some industries would reopen in phases. “That lockdown, those restrictions on gatherings will continue for another two weeks,” Khan said. The first industry to reopen would be construction, the PM said in a...
Square joins PayPal and Intuit as Treasury Department approved participants of the U.S. Small Business Administration's Paycheck Protection Program.
