WASHINGTON • The coronavirus pandemic will cause a global recession this year that could be worse than the one triggered by the global financial crisis of 2008 to 2009, but world economic output should recover next year, the International Monetary Fund (IMF) has said.
SINGAPORE (Reuters) - Oil prices extended gains for a third session on Wednesday, rising alongside broader financial markets on hopes Washington will soon approve a massive aid package to stem the economic impact of the coronavirus pandemic.
(Reuters) - Investors across a broad range of asset markets breathed a sigh of relief Tuesday, a day after the Federal Reserve rolled out unprecedented measures aimed at boosting liquidity and bolstering investor confidence in the face of a spreading coronavirus pandemic.
TOKYO (Reuters) - Asian shares extended their rally on Wednesday in the wake of Wall Street’s big gains as U.S. Congress appeared closer to passing a $2 trillion stimulus package to curb the coronavirus pandemic’s economic toll.
The government will conduct checks at estates and facilities run by oil palm and rubber companies to ensure they comply with federal orders to curb the spread of Covid-19 as operations continue.
Barclays slashed its oil price estimates for this year for the second time in two weeks, expecting WTI Crude to average $28 a barrel in 2020 due to the demand shock from the coronavirus and the supply shock from the Saudi-Russian oil price war.