Hong Kong (CNN Business)The economic fallout from the coronavirus pandemic could drive an additional 11 million people into poverty in East Asia and the Pacific unless "urgent action" is taken, the World Bank warned in a report released Monday.
HANOI, March 31 (Xinhua) -- Vietnam's GDP is expected to grow by 4.9 percent this year, about 1.6 percentage points lower than the previous projection, according to a latest World Bank report.
KUALA LUMPUR: The World Bank is projecting a negative economic growth for Malaysia this year amid the Covid-19 crisis, but said the country is likely to recover in the fourth quarter (4Q) of the year before bouncing back into smoother momentum in 2021.
“Increasing worries about the global economic tsunami are expected to dominate the sentiments in NR markets during April,” said RB Premadasa, secretary general, ANRPC,in his foreword to the March-2020 bulletin.
SYDNEY (Reuters) - Asian shares managed a tentative rally on Tuesday as factory data from China held out the hope of a rebound in activity even as other countries across the globe all but shut down.
BEIJING (Reuters) - Factory activity in China unexpectedly expanded in March after contracting sharply to a record low, but the rapid global spread of the coronavirus is expected to keep businesses and the overall economy under heavy pressure as foreign demand slumps.