Economy

The UK has officially entered a recession as the economy shrunk by a record 20.4% between April and June, when the Covid-19 lockdown measures were tightest.

Saudi Arabia's foreign reserves fell again in April, as the kingdom's sovereign wealth fund spent overseas.

The European Union will see its economy contract by -7.4% this year, entering its deepest recession, the European Commission said Wednesday (May 6). Inflation is forecast at 0.6% while the unemployment rate is forecast to rise to 9%. 

Stocks have plummeted around the world  in response to the global coronavirus crisis, as the pneumonia-like disease spread across more than 100 countries and infected well over 100,000 individuals. The S&P 500 closed in a bear market last week, thus ending the longest

Vietnam gained a trade surplus of $11.12 billion in 2019, according to the latest statistics from the General Department of Customs.

The Eurozone recorded a €28 bn surplus in trade in goods with the rest of the world in October 2019, compared with +€13.2 bn in October 2018, Eurostat reported on Tuesday (Dec. 17). The figure is above expectations.

The US economy grew faster than initially expected in the third quarter of 2019, according to the "second" estimate released by the Bureau of Economic Analysis (BEA) on Wednesday (Nov. 27).  Gross domestic product (GDP) increased at a 2.1% annualised rate.

The Asian Development Bank (ADB) said on Tuesday (Nov. 19) that it will raise its lending rates for wealthier member countries.

The ongoing US-China trade war has been a “lose-lose” situation for both countries and the wider world and it is likely to deteriorate unless a deal is reached, UN economists warned in a new paper published on Tuesday (Nov.

Federal Reserve officials cut interest rates by 25 basis points for the third time this year 
in an effort to boost the economy but hinted they may hit pause on monetary policy easing for now.