NewsAFP NewsEuropean tourists evacuated from Bali after flights cancelled
Hundreds of European tourists stranded in Bali were evacuated from the Indonesian holiday island on Saturday after their flights were cancelled due to the coronavirus pandemic. British authorities booked seats on two commercial flights to London for hundreds of citizens, while Germany has chartered
NewsAFP NewsIMF chief: 'Clear we have entered recession'
The coronavirus pandemic has driven the global economy into a downturn that will require massive funding to help developing nations, IMF chief Kristalina Georgieva said Friday. "It is clear that we have entered a recession" that will be worse than in 2009 following the global financial crisis
- FinanceReuters
Apple's factories are running, but suppliers wary about iPhone demand
A senior official at one of Apple's major contract assemblers said Apple's orders for the quarter ending in March are likely to drop 18% compared with the previous year. The production ramp-up for new phones that work with next-generation 5G networks has been postponed, this person said, though
NewsAFP NewsEmergency flights for tens of thousands stranded by virus in S.Asia
Foreign governments on Friday stepped up operations to evacuate tens of thousands of tourists stranded by the coronavirus pandemic in remote locations across South Asia, from Everest base camp to beach hotels in Sri Lanka. A plane chartered by Berlin took 304 people out of Kathmandu in the first of
- NewsReuters
Bob Dylan drops 17-min song inspired by Kennedy assassination
Bob Dylan on Friday released a 17-minute song inspired by the assassination more than five decades ago of U.S. President John F. Kennedy - the influential singer's first original music since 2012. Dylan, 78, announced the release of "Murder Most Foul" on his website and on Twitter, saying
NewsAFP NewsStock markets retreat as nervous investors pocket week's gains
Stock markets on both sides of the Atlantic retreated Friday as investors banked profits from the week's rally sparked by massive government and central bank action to protect economies from the coronavirus. "Today's sell off is most probably a consequence of three days of strong gains
- NewsReuters
Dubai braces for financial hit as coronavirus batters vital tourism
The sundecks on Dubai's beaches lie empty, and red flags warn visitors away from the waterfront to protect the Middle East's tourism hub against coronavirus. The infection is starting to deliver a painful blow to Dubai, one of the most visited cities globally, with some hotels closed and occupancy
- NewsReuters
Condom shortage looms after coronavirus lockdown shuts world's top producer
A global shortage of condoms is looming, the world's biggest producer said, after a coronavirus lockdown forced it to shut down production. Malaysia's Karex Bhd makes one in every five condoms globally. It has not produced a single condom from its three Malaysian factories for more than a week
- NewsReuters
South Korea says currency swap accord with Japan desirable
SEOUL/TOKYO (Reuters) - South Korea's prime minister said on Friday said restoring a bilateral currency swap facility with Japan would be desirable as it would strengthen trade and financial stability, amid concerns over liquidity resulting from the coronavirus crisis. The comment from Prime Minister
NewsAFP NewsIndia's central bank slashes interest rates as virus spreads
India's central bank cut interest rates sharply Friday as the coronavirus outbreak deepens fears for Asia's third largest economy, which was already battling a prolonged slowdown. The move, which came ahead of the bank's scheduled meeting next month, followed similar measures around the
- NewsReuters
India cuts rates as distress mounts across South Asia over coronavirus
NEW DELHI/MUMBAI (Reuters) - The Reserve Bank of India slashed interest rates on Friday in an emergency move to counter the economic fallout from the coronavirus pandemic after the government locked down the country to slow the spread of infections. Prime Minister Narendra Modi has asked India's
NewsAFP NewsOil storage buckles as virus saps demand
Global oil storage capacity is under intense pressure because of booming output from Saudi Arabia and the United States while the coronavirus outbreak slams the world economy and crude demand. The Organization of the Petroleum Exporting Countries (OPEC) and Russia had cooperated closely since 2016 to
NewsAFP NewsDelays and shattered hopes: Uganda still waiting for oil riches
It was the promise of oil -- billions of barrels of black gold, discovered locked beneath Lake Albert -- and the riches to follow that brought electricity to Buliisa. Roads, piped water, and other unthinkable luxuries came next, as the poor farming village on the great lake's northern shores transformed
- NewsReuters
South Korea boy band BTS postpones U.S., Canada tour over coronavirus
South Korea's boy band BTS will postpone a North America tour that had been scheduled to kick off in April, due to concerns over the coronavirus pandemic, its management said on Friday. The seven-member K-pop hit group was due to begin its United States and Canada tour on April 25 in Santa Clara
NewsAFP News'It's tough': S.Africa struggles with virus lockdown
An early morning haze hung over the skyscrapers of the business district in Johannesburg, South Africa's economic hub, as the city woke up to day one of a national lockdown against coronavirus. Military soldiers were deployed overnight to help police forces man road blocks and enforce emergency
NewsAFP NewsChina cuts international flights, bars foreign residents
China will drastically cut its international flight routes and bar entry to returning foreigners based in the country to stem the spread of the coronavirus, authorities said Thursday. Foreigners living in China with valid visas and resident permits will be blocked from returning to the country after
NewsAFP NewsFitch maintains US AAA rating despite coronavirus
Fitch Ratings on Thursday reaffirmed the United States's AAA credit rating, even with the country facing rising unemployment and a looming recession as the coronavirus pandemic exacts its toll. "The US sovereign rating is supported by structural strengths that include the size of the economy
- NewsReuters
Gazprom: 20 workers isolated at gas field for Nord Stream over coronavirus
Russian gas giant Gazprom said on Thursday 20 workers have been quarantined at Bovanenkovo gas field, which feeds the Nord Stream pipeline, after contact with a person who has coronavirus, while shifts were suspended and local airport shut. Gas production at the field, also a key source of wider Russian
- EntertainmentReuters
Exclusive: Cirque du Soleil explores options including bankruptcy - sources
The famed Montreal-based circus company, largely known for its regular shows in Las Vegas venues, had to temporarily lay off most of its staff after social distancing measures put in place to prevent the spread of the virus nixed its performances. Cirque du Soleil is working with restructuring advisers
NewsAFP NewsSwitzerland virus cases top 10,000
Switzerland on Thursday joined the small group of countries to declare more than 10,000 officially-recorded cases of COVID-19, as it launched plans to start tracking crowd build-ups through mobile phone data. The health ministry said 10,661 people in the Alpine country have tested positive for the new
NewsAFP NewsRockets hit Iraq's Green Zone, US-led coalition leaves base
Two rockets slammed into the Iraqi capital's high-security Green Zone early Thursday, hours before US-led forces were set to pull out of a second base in the country. Some 7,500 foreign troops are in Iraq as part of the US-led coalition helping local troops fight jihadist remnants, but those numbers
NewsAFP NewsUS stimulus plan: what's in the deal
After days of negotiations, the Senate has passed a historic $2.2 trillion plan to stimulate the US economy as it faces soaring unemployment and recession caused by the coronavirus pandemic. Here's a rundown of who will get what in the bill, which must still be approved by the House of Representatives
- FinanceReuters
Malpass says World Bank finalising $160 billion coronavirus relief package
The World Bank's board is finalising a package of coronavirus relief valued at up to $160 billion over the next 15 months, the development lender's president, David Malpass said on Thursday. "The goals are to shorten the time to recovery, create conditions for growth, support small and
- NewsReuters
Britain orders ventilators from vacuum-maker Dyson as F1 teams stand ready
Britain has placed an emergency order of 10,000 ventilators designed at breakneck speed by bagless vacuum cleaner company Dyson, the first fruits of an industry-wide call to arms to prepare for the looming peak of the coronavirus outbreak. In another industry effort, a consortium of companies in the
- NewsReuters
China to significantly reduce international flights amid virus concerns
China's aviation regulator on Thursday asked domestic airlines to reduce their international routes to only one per country while capping the number of flights to no more than one flight per week. Foreign airlines are also asked to limit the number of flights to China to no more than one flight
