IMF downgrades outlook for global economy in face of virus
The IMF predicts that the global economy will shrink 4.9% this year, significantly worse than the 3% drop it had estimated in its previous report in April.
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News Wrap: Coronavirus cases continue to surge in Brazil, India
In our news wrap Thursday, the pandemic continues to surge in other parts of the world. Brazil and India have reported major infection increases, and the World Health Organization reiterated that “the threat of a resurgence remains very real.” Also,…
Dubai airport CEO: Global travel still up in air over virus
The CEO of the world's busiest airport for international travel wants to get the globe flying again, but even he acknowledges everything remains up in the air during the coronavirus pandemic.
U.N. forecasts pandemic to shrink world economy by 3.2%
The United Nations is forecasting that the coronavirus pandemic will shrink the world economy by 3.2% this year, the sharpest contraction since the Great Depression in the 1930s.
The global pandemic has drawn attention to just how vital foreigners are to the Arab Gulf countries where they work, particularly as countries like Saudi Arabia, Kuwait and Oman expel foreigners from certain sectors to create jobs for their own…
Government programs are keeping hard-hit businesses across Europe afloat, preventing millions of workers from losing their jobs and income for now, and thousands of bosses from seeing their trained staff scatter.
The ranks of Americans thrown out of work by the coronavirus ballooned Thursday to more than 20 million in just four weeks, an unprecedented collapse fueling widening protests and propelling President Donald Trump's push to relax the nation's social distancing…
Beaten down by the coronavirus outbreak, the world economy in 2020 will suffer its worst year since the Great Depression of the 1930s, the International Monetary Fund says in its latest forecast.
The hunt for masks, ventilators and other medical supplies consumed the U.S. and Europe, as more than 1.5 billion people — one-fifth of the world's population — were asked or ordered to stay home on Monday to try to blunt…
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