The International Monetary Fund (IMF) believes Asia’s fast-growing economies will “come to a standstill” due to the coronavirus pandemic, faring worse than during the 2008-9 global financial crisis or the 1997-98 Asian crash. The region will experience zero growth for the first time since the 1960s, said Chang Yong Rhee, director of the IMF’s Asia and Pacific Department, who forecast that […]
US President Donald Trump announced he was halting funding to the World Health Organization (WHO) on Tuesday, and accused the world body of failing in its response to the coronavirus pandemic. He said US taxpayers provide between 400 and 500 million dollars a year to the organization. However, it is unclear how Trump plans to halt the […]
German carmakers BMW and Porsche joined a growing list of carmakers on Wednesday to announce a halt in production due to the coronavirus pandemic, as it impacts demand, disrupts supply chains and threatens workers’ health on factory floors. “Starting today, we will power down our European car factories and the Rosslyn plant in South Africa. […]