News Articles on {?keyword?} | ABS-CBN News

Tech demand drives Asia's factory revival, China's slowdown puts dampener

Leika Kihara, Reuters
Posted at Mar 01 02:03 PM

Solid demand for technology goods drove extended growth in Asia's factories in February, but a slowdown in China underscored the challenges facing the region as it seeks a sustainable recovery from the shattering COVID-19 pandemic blow.   Read more »

Biden to put focus on China, pandemic and economic recovery at G7 talks

Catherine Wong, South China Morning Post
Posted at Feb 16 01:04 PM

Dealing with the China challenge will be among the key issues for discussion when Joe Biden joins leaders of the Group of Seven nations for virtual talks on Friday, his first multilateral summit as US president.   Read more »

UK's Johnson to host virtual G7 meeting to push for global vaccine roll-out

Reuters
Posted at Feb 14 08:42 AM

British Prime Minister Boris Johnson will host a virtual meeting of G7 leaders next week to call for action to ensure equal global distribution of COVID-19 vaccines, and to prevent future pandemics, his office said on Saturday. Read more »

IMF lifts global growth forecast for 2021, still sees 'exceptional uncertainty'

Andrea Shalal, Reuters
Posted at Jan 27 06:52 AM

The International Monetary Fund on Tuesday raised its forecast for global economic growth in 2021 and said the coronavirus-triggered downturn last year - the biggest peacetime contraction since the Great Depression - would be nearly a full percentage point less severe than expected.   Read more »

China-EU investment deal allows for arbitration to settle disputes, documents show

Frank Tang in Beijing, South China Morning Post
Posted at Jan 24 07:39 AM

The Comprehensive Agreement on Investment has been hailed as a breakthrough in the China-EU relationship, which has been fraught with trade disputes. The full text of the deal also shows introduction of stricter clauses on market access and technology transfers. Read more »

IMF chief sees 'high degree of uncertainty' in global outlook

Andrea Shalal, Reuters
Posted at Jan 19 11:08 AM

The head of the International Monetary Fund on Monday said the global lender needed more resources to help heavily indebted countries, citing a highly uncertain global economic outlook and a growing divergence between rich and poor countries. Read more »

World Bank sees more countries in 'deep debt distress' this year

Reuters
Updated as of Jan 06 10:57 AM

Chad and several other countries are already in deep debt distress and more will join their ranks this year, given the severity of the global recession triggered by the COVID-19 pandemic, World Bank Group President David Malpass said. Read more »

World Bank warns global recovery could erode if virus worsens

Heather Scott, Agence France-Presse
Updated as of Jan 06 02:50 AM

WASHINGTON - The World Bank on Tuesday downgraded its outlook for the global economy, and warned the situation could deteriorate if COVID-19 infections accelerate or the vaccine rollout is delayed. Read more »

Factories bounce back from COVID-19 hit, tighter controls cloud outlook

Jonathan Cable and Leika Kihara, Reuters
Posted at Jan 04 07:17 PM

Manufacturers across Europe ended 2020 on a high while Asian factory activity expanded moderately thanks to robust demand in regional giant China, surveys showed, but the prospect of tougher coronavirus curbs clouded the outlook for the recovery.   Read more »

New Zealand rebounds from recession with record GDP growth

Kyodo News
Posted at Dec 17 04:44 PM

New Zealand's economy grew a record 14.0 percent in the July-September quarter from the previous quarter, bringing the country out of its first recession in almost 10 years, official data showed Thursday. Read more »

A year into COVID-19, UN declares a day of 'epidemic preparedness'

Reuters
Posted at Dec 08 05:55 AM

NEW YORK - A year into a global battle against the coronavirus, the United Nations General Assembly on Monday declared Dec. 27 will be the "International Day of Epidemic Preparedness" in a bid to ensure lessons are learned for any future health crises. Read more »

For the world economy, a grim slog tempered by new hopes

Peter S. Goodman, The New York Times
Posted at Nov 29 10:44 AM

Nearly a year into a pandemic that has ravaged the global economy like no time since the Great Depression, the only clear pathway toward improved fortunes is containing the virus itself.   Read more »

Global economic rebound at risk from rising coronavirus cases

Shrutee Sarkar, Reuters
Posted at Oct 29 08:48 AM

There is a high risk the resurgence in coronavirus cases halts the global economic recovery by year-end, according to Reuters polls of around 500 economists, a majority of whom expected the rebound next year to be weaker than previously thought.   Read more »

Global economy's recovery hinges on stimulus, virus battle, officials say

David Lawder and Jan Strupczewski, Reuters
Posted at Oct 14 02:20 PM

Global finance leaders on Tuesday said the world economy had escaped a coronavirus-triggered collapse so far, but warned that failure to conquer the pandemic, maintain stimulus and tackle mounting debt among poor nations could crush a fragile recovery.   Read more »

World GDP to drop 4.4% in 2020, rise 5.2% 2021: IMF

Agence France-Presse
Posted at Oct 13 09:10 PM

Global growth will collapse 4.4 percent this year, less than previously expected, the IMF said Tuesday, though the outlook is beset by uncertainty amid the ongoing pandemic. Read more »

Survey finds negative views of China soar among advanced economies

Reuters
Posted at Oct 07 08:21 AM

Unfavorable views toward China have soared in the past year in the United States and many other advanced economies, a survey of 14 countries conducted by the US-based Pew Research Center showed on Tuesday. Read more »

Debt cancellation needed to help poorest countries: World Bank president

Michael Nienaber, Reuters
Posted at Oct 05 08:47 AM

The COVID-19 pandemic could trigger a debt crisis in some countries, so investors must be ready for granting some form of relief that could also include debt cancellation, World Bank President David Malpass was quoted as saying on Sunday. Read more »

IMF chief warns global economic crisis 'far from over'

Agence France-Presse
Posted at Sep 10 12:22 AM

WASHINGTON - The global economy is showing signs of bouncing back from the severe downturn caused by the global coronavirus pandemic, but a full recovery is "unlikely" without a vaccine, IMF chief Kristalina Georgieva said Wednesday. Read more »

UN trade meet is chance to reset world economy: host

Agence France-Presse
Updated as of Aug 06 08:08 AM

The postponed ministerial gathering of the UN Conference on Trade and Development will take place in Barbados in April 2021, organizers said Wednesday, tasked with rebuilding economies battered by the coronavirus crisis. Read more »

Jobless and desperate: the post-lockdown reality for many

Agence France-Presse
Posted at Jul 23 01:28 PM

Many workers' lives have been abruptly upended by the coronavirus pandemic, as job losses in tourism, air travel, food and drink or other industries hit those both on fixed contracts and in the informal sector.   Read more »