Daily Management Review
Economics

ECB expects 5-12% decline in Eurozone's GDP

On Thursday, the European Central Bank (ECB) announced the launch of an additional bank lending program to maintain liquidity. The institution is also ready to increase the repurchase of assets, if necessary. Meanwhile, ECB head Christine Lagarde expects a 5-12% drop in euro area GDP this year, and...

US GDP collapses in Q1 for the first time in six years

The US economy in the first quarter fell by 4.8% in terms of annual rates, according to a preliminary report by the US Department of Commerce. The decline took place for the first time from January-March 2014, when GDP fell by 1.1%. At the same time, it became the highest since the fourth quarter...

IMF approves $3.4B tranche to Nigeria to fight COVID-19

The International Monetary Fund has approved a tranche of $ 3.4 billion to Nigeria to fight coronavirus, the fund said in a statement. "The IMF has approved the provision of emergency financial assistance in the amount of $ 3.4 billion as part of the quick financing mechanism to support the...

OPEC expects oil to return to $ 40 per barrel later in 2020

OPEC believes that oil quotes in the second half of 2020 will fluctuate around $ 40 per barrel, said the Minister of Energy of Algeria, Mohamed Arkab, said on Algerian television. He is president of the OPEC conference until December 2020. According to him, “markets began to give positive signals”...

Bank of Japan keeps negative rate unchanged

The Bank of Japan kept the interest rate at a negative level, minus 0.1%, the financial regulator said in an April meeting. Eight members of the regulator were in favor of maintaining a negative interest rate, one was against. The Japanese Central Bank introduced a negative interest rate of minus...

WHO Regrets As Trump Pulls Out Traditional Fund Flow

WHO seems to be needed more than ever given the present global pandemic crisis, while the U.S. president decides to not pay the agency its assessed “voluntary funding” amount. The Head of WHO, the “World Health Organization”, had expressed his regrets about President Trump’s decision of pulling out...

Following FDI Policy Change, India To Fast Track Chinese Investment In The Country: Reuters

New screening rules issued by the Indian government over Foreign Direct Investment (FDI) particularly from neighbouring countries including China have raised concerns among companies about their plans being jeopardized. The Indian government now plans to fast track the review process of some FDI...

German Business Morale Pushed To Record Low Due To Economic Hit Of Covid-19

The most dramatic fall on record for German business morale was recorded by the German economy in April as the largest European economy touched its lowest reading since reunification because of the severe economic impact of the novel coronavirus pandemic on the country’s economy.   According...

Swiss Central Bank shows record loss in Q1

The Swiss Central Bank (SNB) recorded the maximum quarterly loss since its foundation in 1907 amid the collapse of global financial markets in connection with the pandemic of the coronavirus infection COVID-19. The value of the SNB portfolio last quarter fell by 38.2 billion Swiss francs ($ 39...

UK Economy Under Severe Pressure From The Coronavirus Pandemic

The strain from the coronavirus lockdown is putting immense pressure on the economy of the United Kingdom, so much so that it is at the point of crumbling. Borrowings by the government has reached levels that were never before seen in peacetime history which has increased pressure on the government...
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