An updated Asian Development Bank (ADB) report released recently showed that there will be almost no growth in the developing economies of Asia for 2020 because of hit to the economies because of the lockdowns and stay at home orders to prevent the spread of the novel coronavirus pandemic. The...

A recent survey by the International Trade Centre (ITC) released this week has warned that the lockdowns and restrictions on businesses imposed by various governments all across the world in order to prevent the spread of the novel coronavirus pandemic has hit the small and mid-sized businesses all...

Developing countries, where the growth in the number of cases began later than in Europe and the USA, and is currently at its peak, are forced to take new measures to combat the crisis. In addition to increasing government spending, their central banks, which were previously more restrained in...

German carmaker Bayerische Motoren Werke AG (BMW) announced its intention to cut 6,000 jobs due to the negative consequences of the COVID-19 coronavirus pandemic. Under the plan, the company, in addition to dismissals, will offer employees an opportunity of earlier retirement, and will also not...

By the end of June, American shale companies will return to the market about 500 thousand barrels of oil per day, which is about a quarter of the volume of US production that fell due to a pandemic, Reuters reports citing sources. "It is expected that US shale companies will restore production of...

According to the most recent assessment of the Paris based think tank Organisation for Economic Cooperation and Development (OECD), the biggest peace-time downturn in a century will hit the global economy because of the ongoing novel coronavirus pandemic before it is able to recover in the next...

Lending patterns saw a massive jumps, while lenders set aside amounts to battle with future loss. The U.S. bank saw the profits drop by “69.6% to $18.5 billion” in 2020 Q1 in comparison to the previous year. This drop has been due to the economic impact of COVID-19 pandemic, revealed banking...

By the end of the year, the number of poor people in Italy may increase by a million people due to the coronavirus pandemic, the Coldiretti Association of Agricultural Producers reports. The association analyzed growth of requests for food assistance from the European Union, which is distributed by...

Millions of losses and complete uncertainty about tomorrow - this is how Indian businessmen describe the result of a three-month isolation regime in the country introduced in connection with the nocel coronavirus pandemic. An isolation regime was introduced in India in late March, when there were...