The Philippine economy will expand about six percent under the worst scenario of the coronavirus pandemic, the central bank governor said, pledging to use all tools needed to address risks to growth and financial markets.
For years, Dionisio Romero has relied for his livelihood on a magenta-colored dragon fruit that is wildly popular in Asia, planting dozens of the spindly trees at his farm near Ecuador’s Pacific coast.
Australia’s economy will record its first recession since 1991 as the hit from China’s virus-induced slowdown is amplified by slumping confidence and domestic disruptions from the outbreak intensifying Down Under, according to Bloomberg Economics’s James McIntyre.
Japan's economy contracted at a dismal 7.1 percent annual rate during the October-December period, worse than the initial estimate, raising fears the world's third largest economy could be headed to a recession.
Saudi Arabia’s economy barely grew last year, increasing the need for the government to turn on the fiscal taps to deliver faster growth in 2020 in the face of disruptions from the coronavirus and the prospect of lower energy prices.
A sense of panic was palpable in all corners of the international financial system on Friday as coronavirus cases spread relentlessly across Europe, the Americas and reached sub-Saharan Africa for the first time.
Six days after the first patient showing symptoms of the coronavirus died in Italy, the number of victims and infected people from the novel virus in the country continues to the rise. Seventeen people have died so far while 650 have been infected, most of them in the north of the country. All victims were elderly or had preexisting conditions and some 45 have recovered.
Moroccan lawmakers will investigate the profitability of banks before switching focus to cement makers as the government seeks to rally companies behind its efforts to revamp the economy and spur growth.
A downward trend in the inflation rate in Iran and the improvement in the country’s non-oil economic growth will continue in the next Iranian year (to start March 20), a deputy governor of the Central Bank of Iran said.