The World Bank today approved $15.2 million to support Uganda’s efforts to prevent, detect and respond to COVID-19 and strengthen national systems for public health emergency preparedness under a new operation – the Uganda COVID19 Response and Emergency Preparedness Project. The project is financed by an IDA credit of $12.5 million and a grant of $2.7 […]
Asian markets were mixed Wednesday as optimism over a potential coronavirus vaccine earlier this week steadily begins to fade. The Nikkei index in Tokyo gained nearly 162 points to finish 0.7% higher, while Sydney’s S&P/ASX, the KOSPI in Seoul and Taiwan’s TSEC index had all earned 0.4% by late afternoon. Hong Kong and Shanghai were […]
Asian markets are on the rise Monday as more and more nations continue to slowly emerge from the lockdowns imposed to halt the coronavirus pandemic. Tokyo’s Nikkei index closed 0.4% higher, despite news earlier in the day that Japan had technically fallen into recession for the first time since 2010 after two straight quarters of […]
The coronavirus pandemic continues to take a toll on national economies, with Germany among its latest victims. The pandemic pushed the European economic powerhouse into a recession in the first quarter, as its economy shrank by 2.2 percent. Germany’s federal statistics agency said Friday the economy’s decline over the last quarter in 2019 was “the […]
Asian markets were all trading lower Thursday in reaction to a gloomy assessment about the struggles facing the global economy due to the coronavirus pandemic. Japan’s Nikkei index was down 1.5 percent in late afternoon trading, while Hong Kong had lost 1.3 percent. The indexes in Seoul, Shanghai, Sydney and Taipei were also posting significant […]
WASHINGTON – Germany passed an important milestone Tuesday: Its coronavirus reproduction rate fell below 1, it said. Public health officials said that as of Tuesday, 100 infected people could now infect 94 others within 24 hours. At Monday’s rate, 100 people could infect 107 others, and on Sunday, 100 people could infect 113. But Germany […]
European markets are beginning the week on a high note, with all three major indexes making gains in early trading Monday. The FTSE in London and the DAX in Frankfurt are both 0.4% higher, while the CAC-40 in Paris is down slightly at 0.2%. The trading day began with significant gains in Asia, led by […]
Global markets were mixed Thursday, with Asian indexes struggling despite good economic news from China. Japan’s Nikkei index closed 0.2 percent higher, while the TSEC 50 in Taipei finished 0.6 percent higher. The indexes in Hong Kong, Shanghai and Sydney were all in negative territory, with investors apparently unmoved by Beijing’s announcement that exports rose […]
Asian markets are trading higher Tuesday. Sydney’s S&P/ASX index was up 1.4% in midday trading, while the Hang Seng index in Hong Kong was 0.7% higher and Taiwan’s TSEC 50 was 0.5% higher. Seoul’s KOSPI index had lost 2.6%. The markets in Tokyo and Shanghai remained closed Tuesday. Tuesday’s modest gains in Asia are a […]
Economic lockdowns imposed due to the coronavirus pandemic may spark record cuts in global energy demand and carbon dioxide emissions, according to a new report by the International Energy Agency. The Paris-based IEA said in a report released Thursday that world energy demand could drop by 6% this year because of stay-at-home orders and other […]
The coronavirus is sending the U.S. economy into the biggest and fastest collapse since the Great Depression, with economic output reported shrinking at an alarming rate Wednesday and the number of Americans thrown out of work estimated at nearly 30 million. Scientists, meanwhile, announced that an experimental drug has proved effective against the virus that […]
WASHINGTON – Global stocks rallied on Monday, showing investors optimism about the gradual reopening of the global economy. But the oil market suffered further losses. Major U.S. market indexes ended in positive territory when trading closed. The Dow Jones Industrial Average was up 1.5%, or almost 359 points, to end at 24,133.78. The S&P 500 […]
ADDIS ABABA – As the coronavirus spreads across Africa, countries are taking stronger measures to curb its spread. The restrictions may contain the virus, but will likely have a deep impact on the continent’s economies. With several African governme…