UK economy officially in recession after 20.4% Q2 slump
LONDON — The U.K. economy has officially fallen into a recession after official figures showed it contracting by a record 20.4% in the second quarter as a result of lockdown…
Rare recession success story: Shopback sees record 18M online purchases
MANILA, Philippines—An app that allows users to earn portion of what they spend on online purchases sees a record high of more than 18 million orders this year, one of…
Officially a recession: PH GDP shrank 16.5% in Q2
A general view of the skyline of the financial district of Makati. (AFP) MANILA, Philippines–The Philippine economy contracted by a record 16.5 percent during the second quarter — at the…
Dominguez: No new ‘sin’ taxes eyed despite recession
Despite rising budgetary needs for COVID-19 response and universal health care and a weak tax collection because of recession, the government is not resorting to higher excise on so-called sin…
Singapore enters technical recession as GDP plunges 12.6% in Q2
The GDP plunge was due to the circuit breaker measures that were implemented to slow the spread of Covid-19.ST PHOTO: Kelvin CChng via Asia News Network SINGAPORE — Singapore’s economy…
UK Treasury chief warns of depth of recession
Britain’s Chancellor of the Exchequer Rishi Sunak visits the Worcester Bosch factory to promote the initiative, Plan for Jobs, in Worcester, England, Thursday, July 9, 2020. (Phil Noble/Pool via AP)…
PEZA fears some companies might leave because of global recession
MANILA, Philippines — The Philippine Economic Zone Authority (PEZA) fears the global recession might prompt companies to cut down on costs, forcing them to pull out of the Philippines and…
PH slipped into economic recession in first half of 2020
MANILA, Philippines — The Philippines has slipped into a recession, as economic contraction likely deepened during the second quarter with the COVID-19 lockdown — at its peak in April and…
LT Group cautious amid looming economic recession
LUCIO Tan Tycoon Lucio Tan-led conglomerate LT Group Inc. (LTG) is bracing for a tougher period for its tobacco, liquor, property and banking businesses for the remainder of 2020, during…
IMF projects ‘deeper recession’ for world economy
The logo of the International Monetary Fund (IMF) is seen during a news conference in Santiago, Chile, July 23, 2019. Agencies via China Daily/Asia News Network WASHINGTON — The International…