Tag: #Recession
-
Indonesia tumbles into first recession for two decades
Jakarta, Nov 5 (AFP/APP):Indonesia’s virus-hit economy contracted in the third quarter, plunging it into its first recession since the archipelago was mired in the Asian financial crisis more than 20 years ago. Activity in Southeast Asia’s biggest economy slumped 3.49 percent on-year in July-September, the statistics agency said Thursday, with tourism, construction and trade among…
-
US Economy Surges 33.1% in Q3; Biggest Gain on Record: Government
In its biggest gain on record, the US economy has surged by 33.1%, says the government.
-
German Economy to Shrink 5.4% in 2020: Think-Tanks
According to think-tanks, the German economy is expected to shrink by 5.4%.
-
World’s Finance Ministers Plan for Recovery from COVID19
As the world’s finance ministers plan for recovery from COVID19, Pakistan highlights the importance of debt relief.
-
UK economy plunges into largest recession on record
London, 12th August: The UK economy is officially in the largest recession on record during the coronavirus pandemic. According to the official figures the economy of the United Kingdom has plunged into the largest recession on record since the pandemic crisis. The UK has been tipped into the "largest recession on record", according to official…
-
Corona slows industrial growth by 22%: State Bank of Pakistan
Baaghi TV: Due to the corona virus, the government’s fiscal deficit will remain high in the short term with a package of Rs 1.24 trillion at the end of the third quarter. According to the SBP’s third quarterly report, the economy was improving due to stability from July 2019 to February 2020, while fiscal and…
-
Asia will face acute recession ahead: Lucman
Lahore, 6th April: Mubasher Lucman, a renowned journalist and a senior anchor of Pakistan has been rendering the task of giving regular follow up on the situation around the world faced by the pandemic. He is a true journalist at heart who tries to pass on the relevant and authentic information through his videos on…
-
Virus threatens fragile Turkish economy
Ankara, March 31 (AFP/APP): The Turkish economy was healing after a recession when the new coronavirus struck, leaving Ankara scrambling to contain the damage with stimulus measures worth billions and facing demands to do much more. The death toll in Turkey is 168 with 10,827 recorded cases of the virus but the fear is that…
-
Oil prices at 17-year lows as virus ravages world
Singapore, March 30 (AFP/APP): Oil prices extended losses in Asian trade Monday and languished at 17-year lows, with the coronavirus crisis escalating around the world and no end in sight to a vicious price war. US benchmark West Texas Intermediate fell 5.3 percent to trade at $20 a barrel, while international benchmark Brent crude was…
-
IMF chief: ‘Clear we have entered recession’
Washington, March 28 (AFP/APP): The coronavirus pandemic has driven the global economy into a downturn that will require massive funding to help developing nations, IMF chief Kristalina Georgieva said Friday. “It is clear that we have entered a recession” that will be worse than in 2009 following the global financial crisis, she said in an…