The novel coronavirus pandemic’s hit to the global economy is resulting a much steeper recession and a much slower recovery than was initially expected by the International Monetary Fund. This forced the IMF to slash its global economic forecasts for 2020 further on Wednesday.   The IMF...

US oil production for the week ending June 19 rose by 0.5 million to 11 million barrels per day, according to a weekly review of the energy information department of the country's energy department. The weekly production rate rose for the first time in 11 weeks. Until then, it has been continuously...

The economic impact of the novel coronavirus pandemic and the current tensions between with China is forcing startups in India to try and woo Japan Inc. for investment.   While a large part of India still under the pandemic related restrictions thereby suppressing economic activities, a...

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...