Virus Drags Global Economy Into Recession IMF
The International Monetary Fund (IMF) has noted that the global economy is already in a recession propelled by COVID19 outbreak. The fund's Managing Director Kristalina Georgieva said that the depth [...]
Germany Gives $54 Billion to Small Businesses
Germany has given a $54 billion aid package to small businesses in the country, including the creative and cultural sectors. The move seeks to help them survive the global COVID-19 [...]
US-Africa Business Summit Postponed over COVID-19
The 13th US-Africa Business Summit, initially slated for 9th to 12th June 2020 in Morocco, has been postponed over concerns of the COVID-19 pandemic. The government of Morocco, in conjunction [...]Weekly Global Markets Wrap-Up
In the week, the US Senate approved a $2 trillion stimulus plan with the Congress unanimously passing the bill, which awaits President Trump's signature. Despite the renewed optimism, investors remain [...]US Jobless claims Hit Record High
United States stock market opened Thursday trading session on a positive note following the approval of a $2 trillion COVID-19 stimulus bill by the nation's Senate. The US Department of [...]World Bank and IMF Call On Suspension of Debt Payments from Poorest Countries
The World Bank Group (WBG) and the International Monetary Fund have issued a joint statement to bilateral creditors requesting debt relief for the poorest countries. The financial institutions called on [...]Facebook to Acquire Stake in Top Indian Telco
Social media giant, Facebook, is in talks with Reliance Jio, a top Indian telco to acquire 10 per cent stake in a multi billion dollar deal. Techcrunch says that the [...]Boeing to Resume 737 Max Production by May 2020
U.S. planemaker, Boeing, is set to resume production of 737 Max craft by May 2020, after halting the production in January this year. This was as a result of the [...]US Lawmakers Working on a $2 Trillion Stimulus Package
Reuters reports that senior Democrats and Republicans in the US senate on Tuesday said they were close to reaching a deal on the $2 trillion coronavirus economic stimulus package. The [...]Startups in France Get $4.3 Billion Cash Injection
The government of France has announced plans to release a $4.3 billion cash injection for its startups, a move that seeks to help them survive the COVID-19 pandemic. According to [...]Global Demand For Dollar Soars
The United States dollar has continued to hammer major currencies, rising to the highest level against the UK pound in more than 30 years this week. According to Bloomberg, the [...]BMW Temporarily Closes Plants in Europe and South Africa
German automaker, BMW, has announced plans to close its plants in Europe and South Africa for one month, until 19th April 2020. The move seeks to curb spread of the [...]
