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A poll released on Thursday showed that the virus outbreaks heavily damaged Asian economies in April. The weak economic activity was brought by the implemented social-distancing measures and business shutdowns which damaged the region’s services sector.
The pandemic, which has resulted in 180,000 deaths and 2.5 million cases worldwide, has also brought disruptions to the production sector, shutting down factories and upending supply chains across Asia.
Other regions across the world may share the same economic struggle as surveys from major European economies, such as Britain and Germany, bear results similar to Asia’s purchasing manager’s indexes released on Thursday.
The inactivity of the said sector came to be an alarming concern for governments given the millions employed by banks, retailers, and businesses. This will also undermine social stability due to the economic threats posed by the growing number of unemployment.
June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from ...
Britain on Wednesday signed a supply deal for up to 60 million doses of a possible COVID-19 vaccine that is being developed by pharmaceutical companies GlaxoSmithKline (GSK) and Sanofi. The financial details of the agreement were not disclosed. However, ...
The self-driving car company Waymo LLC and Fiat Chrysler Automobiles NV (FCHA.MI) signed a partnership deal on Wednesday to fully develop self-driving cars, pickups, and SUVs. Waymo, an Alphabet Inc. (GOOGL.O) unit, and Fiat Chrysler said ...
Oil prices steadied on Tuesday, stuck in narrow ranges as investors pinned hopes on fuel demand recovery amid renewed lockdowns due to rising coronavirus cases. Prices were supported by positive news on vaccine development as medical institutions ...
Renault SA (RENA.PA) announced on Monday that its global car sales fell by 34.9% in the first half of the year due to the impact of the coronavirus pandemic. However, the company said that it had seen some signs of recovery in June. The French ...
KYC Policy