Tag: #Recession
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Mortage Rates Ticking Up in USA
Washington, March 19 (AFP/APP): Mortgage rates are finally ticking up in the United States, one year after the Federal Reserve cut its lending rate to boost the economy as the Covid-19 pandemic arrived, but that’s not expected to cool the hot housing market. While the wider US economy has struggled after states restricted business to stop…
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Economic Recovery in China
BEIJING, March 11 (Xinhua) : An expansion in employment as a result of steady economic recovery will further promote sound growth of China’s economy, Premier Li Keqiang said Thursday. Employment is the foundation of people’s well-being and development as well as a source of wealth, Li said at a press conference after the closing of the annual…
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Plunge in Boeing Sales!
New York, Jan 12 (AFP/APP): Boeing reported Tuesday a 59 percent plunge in commercial plane deliveries in 2020 as it contended with the grounding of the 737 MAX and a travel industry downturn amid Covid-19. The aerospace giant delivered just 157 planes last year, down from 380 in 2019. Boeing also suffered a net drop…
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Mass Unemployment in USA
Washington, Jan 8 (AFP/APP): The United States lost 140,000 jobs in December as the worsening coronavirus pandemic undermined the economy’s recovery and caused the first loss in employment since April. The downbeat report released by the Labor Department on Friday confirmed that months of steady gains in hiring were brought to a halt by the…
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Losses Caused by Natural Disasters Rose Sharply
Frankfurt Main, Jan 7 (AFP/APP): Financial losses worldwide caused by natural disasters rose sharply in 2020 compared, German reinsurance giant Munich Re said Thursday, urging action to prevent climate change from bringing about more such hazards. The global bill came to $210 billion (171 billion euros) in damage, due to a record hurricane season and…
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World Bank Says that Economics Situations will Worsen due to Covid-19
Washington, Jan 5 (AFP/APP): The World Bank on Tuesday downgraded its outlook for the global economy, and warned the situation could deteriorate if Covid-19 infections accelerate or the vaccine rollout is delayed. The coronavirus pandemic also has worsened the risks surrounding the rising debt load in developing nations, and it will take a global effort…
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State of the French Stock Exchange
PARIS, Dec 29 (XINHUA/APP): French shares edged up on Tuesday, with the benchmark Paris CAC 40 up 1.20 percent, or 66.37 points, to close at 5,588.38 points. Of the 40 selected large companies, 30 gained in the day. Multinational corporation Carrefour advanced 3.52 percent. French international luxury group Kering rose 3.38 percent. Capgemini, the French…
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Dubai’s Economic Recovery Plan
Dubai, Dec 27 (AFP/APP): Dubai said Sunday it expects to cut its budget to $15.5 billion in 2021 after its economy was impacted by a plunge in tourism and other sectors amid the novel coronavirus pandemic. The emirate, one of the seven that make up the United Arab Emirates, had posted a record $18.1 billion…
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US Retail Sales Fell Due to Covid
Washington, Dec 16 (AFP/APP): US retail sales fell sharply in November, according to government data released Wednesday, a further sign of economic trouble as Covid-19 cases climb and lawmakers remain deadlocked on approving economic stimulus. Sales fell 1.1 percent compared to October, seasonally adjusted a much sharper decline than expected, while October’s sales were revised…
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Asian Markets Fell Due to Strict Measures taken to Control the Spread of Covid
Hong Kong, Dec 15 (AFP/APP): Asian markets fell across the board Tuesday as surging virus infections force governments to impose tighter containment measures, trumping the rollout of vaccines, while the pound held gains on hopes for a post-Brexit trade deal. The downbeat mood also comes despite some optimism that US lawmakers are inching towards finally…