03 Apr 2020

Bank says virus could cost world $4.1 trillion

The Asian Development Bank has predicted that the COVID-29 international pandemic will end up costing the world economy as much as $4.1 trillion as countries struggle to combat the outbreak of the virus as well as shortages in medical equipment. The Asian Development Bank, headquartered in Manila, Phillippines, has stated

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26 Mar 2020

The Latest: 3.3M US jobless claims tops record set in 1982

Last week, 3.3 million Americans applied for unemployment benefits as a result of their place of employment closing amid the pandemic, which is more than quadruple the previous record set in 1982. China has also expressed discontent with the “Wuhan virus” name for the COVID-19 virus, and the Health Minister

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19 Mar 2020

Europe sets up emergency lifeline worth billions

In an attempt to soothe the economic impact of the ongoing pandemic, the European Central Bank (ECB) has started an emergency $820 billion package that will buy government and company dept across the EU, particularly in Greece and Italy. ECB’s CEO Christine Lagarde stated that they are incredibly committed to

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17 Mar 2020

Coronavirus: Stock markets continue to slide

The coronavirus has been wreaking havoc on the stock market, and European shares have fallen even further. London’s FTSE 100 opened higher on Tuesday, however, it eventually suffered an index fall of 1%, while other major European markets reported the same. UK’s Chancellor is expected to announce its plan to

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10 Mar 2020

Global shares plunge in worst day since financial crisis

On March 9, 2020, the United States experienced a 7.8% drop in stock indexes, the largest since the financial crisis. Numbers of other regions across Europe and Asia are also suffering similar to that of the United States’ Dow Jones average drop of over 2,000 points. In both the US

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04 Mar 2020

Coronavirus: World Bank pledges $12bn in emergency aid

The World Bank has reportedly committed $12 billion in aid for developing countries that are facing the coronavirus outbreak and how to combat it financially and medically. The WB aid includes low-cost loans, grants and technical assistance to aid these countries in preventing the outbreak and managing the coronavirus if

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21 Nov 2019

China says it will strive to reach ‘phase one’ trade deal with U.S

The Chinese commerce ministry stated on Tuesday that they would strive to reach an initial trade agreement with the United States. Gao Feng, spokesman for the ministry, told reporters that China is willing to work with the US to resolve concerns on mutual respect and equality. Gao believes that a

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15 Jun 2011

Greek government realigned amidst protests

“After violent protests against austerity measures Wednesday, Greek Prime Minister George Papandreou announced a government reshuffle in a bid to solve his nation’s debt woes. Papandreou said in a brief televised statement that he will seek a vote of confidence in the new government Thursday. He did not offer any

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