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WASHINGTON, United States (AFP) — 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, she said in an online press briefing. With the worldwide economic “sudden stop,” Georgieva said the fund’s estimate “for the overall financial needs […]
PARIS, France (AFP) — Here are the latest developments in the coronavirus crisis: More than 4,500 deaths Since the novel coronavirus first emerged in late December 2019, more than 124,101 cases have been recorded in 113 countries and territories, killing 4,566 people, according to an AFP tally compiled at around 1700 GMT on Wednesday based on official sources. The number of cases in Europe passes 22,000, with 930 deaths. Mainland China has 80,778 cases, with […]
PARIS, France (AFP) — A growing number of countries affected; a black week for the world’s stock exchanges; numerous events cancelled. Here are the latest developments in the coronavirus crisis, whose risk assessment was on Friday classed by the World Health Organization (WHO) at the highest level. – First in sub-Saharan Africa – The new coronavirus has infected 84,117 people and killed 2,870 around the world, according to an AFP toll based on official sources […]
HONG KONG, China (AFP) — Asian markets rebounded Wednesday as hopes the deadly new coronavirus will have only a short-term impact on corporate earnings and economic growth prevailed. Falls on US and European markets — after Apple’s warning that it would miss its quarterly revenue forecast due to the epidemic — did not carry over to Asia. The illness, which has killed more than 2,000 people and infected over 74,000, has disputed supply chains and […]
NEW YORK, United States (AFP) — European and US stock indices mostly advanced Wednesday, as positive earnings from Apple and some other companies, offset concerns over the spreading coronavirus that has led more airlines to suspend flights to China. Hong Kong’s main stocks index slumped 2.8 percent by the close as traders returning from the Lunar New Year break played catch-up with the global selloff triggered by the epidemic. But the Dow eked out a […]
NEW YORK, United States (AFP) — Global stocks were range-bound on Tuesday while the yuan advanced against the dollar after Washington said it no longer considered China a currency manipulator and tensions eased between the economic titans. New York was also rattled by news reports on Tuesday that US President Donald Trump intended to keep most punitive US tariffs on Chinese imports until after the 2020 presidential election. US stocks finished lower, pulling back from […]
by Richard CARTER Agence France Presse HONG KONG, China (AFP) — The price of oil spiked Wednesday after Iran launched revenge attacks on US forces in Iraq, making good on its pledge to hit back over the killing of its top general. The main US contract rocketed by more than 4.5 percent as fears over supplies in the tinderbox Middle East sent prices soaring. The Pentagon said it was still “working on initial battle […]
HONG KONG, China (AFP) — Asian markets were mixed Wednesday as investors grow nervous at the lack of news on China-US trade talks, with Washington yet to cancel tariffs on a swathe of Chinese goods planned for the weekend. With negotiators still trying to hammer out a mini agreement, the mood on trading floors remains upbeat. Most observers have been confident the two sides will eventually reach a deal, feeding a global equities rally for […]
HONG KONG, China (AFP) — Asian markets tumbled on Tuesday as global trade uncertainty returned to the fore after the United States reimposed tariffs on Argentina and Brazil, threatened steep levies against France and warned China of new measures if ongoing talks are not successful. Optimism that Beijing and Washington will eventually hammer out a partial agreement as part of a wider deal has provided support to equities for weeks, helping Wall Street to numerous […]
by Stuart WILLIAMS PARIS, France (AFP) — Dozens of world leaders, including Russian President Vladimir Putin, were expected in Paris on Monday to pay their final respects to France’s late president Jacques Chirac as the country holds a national day of mourning for its charismatic former head of state. Putin and other world leaders were to join President Emmanuel Macron for a church service in the French capital, a day after thousands of people queued […]
HONG KONG, China (AFP) — Oil prices rallied Monday after Iran warned the presence of US forces in the Gulf was causing instability in the region, while equities were mostly down as Donald Trump said he did not want a partial trade deal with China. While a loosening of monetary policy by central banks is providing support to investors, they remain on edge following last week’s attack on Saudi oil facilities that was claimed by […]
LONDON, United Kingdom (AFP) — Oil prices fell Tuesday but held most of the previous day’s record gains that were fuelled by an attack on Saudi facilities that wiped out half the country’s crude output. Traders were nervously awaiting further US response after it said Iran was likely to blame. The crisis revived fears of a conflict in the tinderbox Gulf region and raised questions about the security of crude fields in the world’s […]
