India's prime minister announces coronavirus economic relief package he says is worth nearly 10% of nation's GDP

NEW DELHI (AP) — India's prime minister announces coronavirus economic relief package he says is worth nearly 10% of nation's GDP.

Concern mounts that border measures threaten EU free travel

BRUSSELS (AP) — The future of ID-check free travel across 26 European countries is at risk if governments do not ease soon the emergency border restrictions they introduced to halt the spread of the c...

Back in recession, Greece puts faith in digital overhaul

ATHENS, Greece (AP) — Greece plans to rapidly expand government digital services in 2020 to try and slim down its notoriously slow-moving bureaucracy and help the country exit its pandemic recession m...

Australia faces "sobering" future economy due to coronavirus

CANBERRA, Australia (AP) — Australia's treasurer said Tuesday the country faces a “sobering” economic outlook due to the effects of the coronavirus and will have its largest-ever deficit when a revise...

UN says 7 or 8 `top' candidates for a COVID-19 vaccine exist

UNITED NATIONS (AP) — The World Health Organization chief said Monday there are around seven or eight “top” candidates for a vaccine to combat the novel coronavirus and work on them is being accelerat...

IMF approves $2.77 billion to help Egypt with virus fallout

CAIRO (AP) — The International Monetary Fund has agreed to lend Egypt $2.77 billion in emergency assistance to deal with the economic fallout caused by the coronavirus pandemic, its executive board sa...

Pandemic shows contrasts between US, European safety nets

The coronavirus pandemic is straining social safety nets across the globe — and underlining sharp differences in approach between wealthy societies such as the United States and Europe. ...

Bank of England: UK economy could shrink 30% in H1

LONDON (AP) — The Bank of England has warned that the British economy could shrink by 30% in the first half of the year as a result of the coronavirus pandemic. The scale of the decl...

Taiwan fares best among Four Asian Tigers with 1.54% economic growth in 1st quarter

TAIPEI (Taiwan News) — Minister Without Portfolio Kung Ming-hsin (龔明鑫) said in a press conference on Wednesday that Taiwan’s economic growth in the first quarter was 1.54 percent, which wa...

As US piles up debt to aid economy, even usual critics cheer

WASHINGTON (AP) — The U.S. government has opened the spigots and let loose nearly $3 trillion to try to rescue the economy from the coronavirus outbreak — a river of debt that would have been unthinka...

Investment from returning Taiwanese amid trade war to reach NT$1 trillion by May 20

TAIPEI (Taiwan News) — The total value of investments in Taiwan by Taiwanese businesses returning from overseas was likely to reach NT$1 trillion (US$33.55 billion) by May 20, government officia...

Lebanon restaurants partially reopen, face faltering economy

BEIRUT (AP) — It's not just a lifestyle, it's a livelihood. That was the motto used by some of Lebanon's best-known nightclubs to raise money for thousands of bartenders, waiters and support staff who...

Cycle power: Bikes emerge as a post-lockdown commuter option

MADRID (AP) — Halfway through his 30-minute bike ride to work, police ordered Juan Pasamar to dismount, accusing him of breaking Spain’s coronavirus lockdown rules by exercising in public. The officer...

Taiwan beacon of light during time of darkness

TAIPEI (Taiwan News) — In a world where the effects of COVID-19 are eroding freedom in an increasing number of democracies and creating more repressive autocracies, Taiwan is a beacon of light, ...

US consumer spending plunges 7.5% in March, reflecting virus

WASHINGTON (AP) — U.S. consumer spending plunged 7.5% in March, reflecting the growing impact of the coronavirus pandemic as Americans complied with stay-at-home orders. The Commerce...