The Chinese economy is likely to return to recovery and record modest growth in Q2 after the contraction with the end of lockdown and the announcement of more stimulus, according to a Reuters poll. China is expected to post 2.5% growth in April-June compared to last year, posting a 6.8% …
Read More »British GDP Less Than Expected
UK GDP in May posted less than analysts’ expectations as data released by the Office for National Statistics on Tuesday showed that British gross domestic product rose1.8% in May, compared to a contraction of 20.3% in April. Analysts had expected the UK economy to grow by 5.5% in May. The …
Read More »WHO Warns COVID-19 Could Get Worse and Worse
The World Health Organization (WHO) has warned on Monday that the new coronavirus (COVID-19) pandemic may be getting worse around the world, with many countries failing to correctly respond to the situation and take the necessary preventive precautions. “Let me be blunt, too many countries are headed in the wrong …
Read More »China’s Premier Li: Economy is Recovering
The Chinese economy is showing a steady recovery, but a difficult battle is still waiting, as the situation remains critical at home and abroad. China’s Premier Li Keqiang told the state media on Monday, as reported by Reuters. Quotes “We should strengthen our confidence in development, but the situation at …
Read More »IMF Revised its Forecasts for Asia and Middle East
The International Monetary Fund (IMF) revised its growth forecasts for the Middle East and Central Asia as economies were affected by worse than expected oil crisis and Covid-19 pandemic, according to Reuters. The region, which includes about 30 countries from Mauritania to Kazakhstan, will see real GDP drop by 4.7% …
Read More »China Warns Travelers to Australia
In a statement issued by the Chinese Foreign Ministry, published on its official Wechat account, it advised citizens to reconsider their travel plans to Australia amid anti-China sentiments and racist practices. The South China Morning Post (SCMP) reported that the souring diplomatic relations between Australia and China were not expected to impede …
Read More »Covid-19 Cases Exceed 13M
Covid-19 cases continue to rise during Monday, bringing the numbers to 13 million cases globally, as it rose in the morning by 20,924 new cases to reach the total of 13,049,106 with the death toll reaching 571,807. Cases that fully recovered to 7,591,913. The United States tops the number of …
Read More »Baker Hughes: US Oil Rigs Down in Week
The number of active US oil rigs decreased by four to 181 this week, according to data by Baker Hughes. It worth mentioning that the number of rigs drilling for crude oil in the US did not a single increased since mid-March.
Read More »Remdesivir Has Shown Good Results
Gilead Sciences Inc said that its antiviral drug has shown good results. Remdesivir greatly improves the clinical recovery of COVID-19 patients, which reduces the risk of death. The company stated that these results will need to be confirmed in upcoming clinical trials. Gilead Sciences Inc said that the data of 312 …
Read More »Canadian Unemployment Rate Falls to 12.3% in June
Net change in employment in Canada increased more than expected as Statistics Canada reported on Friday that net change in employment in Canada rose by 953,000 in June, bringing the unemployment rate down to 12.3% from 13.7% recorded in May. However, the unemployment rate came out worse than the market’s …
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