Reports: World economy faces tough journey back from crisis
WASHINGTON — The world economy likely faces a long slog back from the coronavirus crisis. FILE – In this March 18, 2020, file photo, people are reflected on the electronic…
Japan’s Abe says world economy in ‘once-in-a-century crisis’
Men wearing a face mask to help curb the spread of the coronavirus take a rest in Tokyo Thursday, May 14, 2020. Japan is still under a coronavirus state of…
UN forecasts pandemic to shrink world economy by 3.2%
UNITED NATIONS — The United Nations forecast Wednesday that the COVID-19 pandemic will shrink the world economy by 3.2% this year, the sharpest contraction since the Great Depression in the…
Exxon profits drop as most of world stays home, forgoes fuel
AP NEW YORK — Profits fell at Exxon Mobil and Chevron warned of tough times ahead as the global pandemic began to erode oil demand. Exxon lost $610 million in…
World shares skid following grim news on US, EU economies
A man walks past an electronic stock board showing Japan’s Nikkei 225 index at a securities firm in Tokyo Friday, May 1, 2020. Shares have dropped in Asia after Wall…
World Trade Center converted into 500-bed COVID-19 facility
WTC is now a 500-bed COVID-19 facility The Ayala group of companies has completed the conversion of part of the World Trade Center (WTC) in Pasay City into a 500-bed…
Pandemic a ‘perfect storm’ for South Asia, World Bank says
People walk next to a graffiti drawn to bring awareness on social distancing at a temporary market set up at a bus stand during a government-imposed nationwide lockdown as a…
World Bank to roll out $160-billion emergency aid over 15 months
World Bank President David Malpass. AFP file photo UNITED States — The World Bank on Thursday approved the first steps in a plan to roll out $160 billion in emergency…
Amid COVID-19 pandemic, World Bank sees PH economy growing 3% at best, contracting 0.5% at worst in 2020
MANILA, Philippines — The COVID-19 pandemic will take its toll on economies across East Asia and the Pacific, and the Philippines was no exception given its reliance on tourism and…