Economy

Friday, May 15th 2020 - 07:51 UTC
China's industrial output in April returned to growth but retail sales remained weak

China's industrial output returned to growth for the first time this year in April, official data showed on Friday, as the country continued its gradual recovery after the coronavirus brought activity to a near-halt.
Friday, May 15th 2020 - 07:40 UTC
WTO chief to step down in September: plenty of time to agree on a successor next year

The World Trade Organization chief announced on Thursday he will step down on August 31, a year before his term ends, despite the COVID-19 pandemic ravaging the global economy. Brazil's Roberto Azevedo said it had been a “personal decision” reached with his family, and stressed that he was not leaving to pursue “political opportunities”.
Thursday, May 14th 2020 - 08:59 UTC
Chile orders total quarantine for Santiago's population following a virus peak of infections

Chile ordered a mandatory total quarantine for the capital Santiago's seven million people on Wednesday, after authorities reported a 60% spike in coronavirus infections in 24 hours, dealing a stunning blow to hopes the economy would soon reopen.
Thursday, May 14th 2020 - 08:59 UTC
Brazil becomes Covid-19 sixth worst hit country and the economy is forecasted to contract 4,7% in 2020

Brazil registered a record number of new cases of COVID-19 on Wednesday surpassing France's tally to become the sixth-worst hit country, as the coronavirus sends the economy towards its worst year since at least 1900.
Thursday, May 14th 2020 - 08:50 UTC
Fewer remittances because of Covid-19 will hit hard Central and Latin America

Remittances—the money that immigrants working abroad send home to families on a regular basis—have become a major source of funding for developing countries. In 2019, total global remittances exceeded US$550 billion, putting them on a par with levels achieved by foreign direct investment.
Thursday, May 14th 2020 - 08:15 UTC
Chile requests IMF US$ 23,8 billion, under the Flexible Credit Line

The International Monetary Fund (IMF) Executive Board met on Wednesday in an informal session to discuss a request from the Chilean authorities for a two-year arrangement under the Flexible Credit Line (FCL) with the IMF in an amount equivalent to SDR 17.443 billion (about US$23.8 billion or 1,000 percent of quota).
Thursday, May 14th 2020 - 08:08 UTC
Britain's economy shrank 2% in the first quarter and 5.8% in March

Britain's economy shrank 2% in the first three months of the year, rocked by the fallout from the COVID-19 pandemic, official data showed on Wednesday, with analysts predicting even worse to come.
Thursday, May 14th 2020 - 08:00 UTC
US Senate votes financial support for local newspapers and broadcast outlets

Thousands of local US newspapers and broadcast outlets, grappling with a massive downturn in advertising because of the Covid-19 pandemic, would be eligible for financial help under legislation introduced in Congress on Wednesday.
Thursday, May 14th 2020 - 07:46 UTC
Record US port exports to China while US consumers face shortages

U.S. President Donald Trump ordered meat processing plants to stay open to protect the nation's food supply even as workers got sick and died. Yet the plants have increasingly been exporting to China while U.S. consumers face shortages, analysis of government data showed.
Thursday, May 14th 2020 - 07:20 UTC
France dismisses Beijing warnings about arms to Taiwan, suggests China focus on battling Covid-19 pandemic

France dismissed Chinese warnings on Wednesday about selling arms to self-ruled Taiwan, saying it was implementing existing deals and that Beijing should focus on battling the COVID-19 pandemic.