Global Economy

The virus pandemic of which we are all now victims is having a hugely negative impact on the flow of people, goods and services internationally. But what about capital? Will capital keep flowing freely when little else is? There is a decent case to make that we might be approaching …

The nationwide shutdown in India because of coronavirus has left some of the world’s biggest outsourcing companies racing to maintain services for global clients. India’s IT companies provide back office operations for many of the world’s largest corporations, from banks to manufacturers and pharmaceuticals. The largest of them, Tata Consultancy …

Some day this crisis will end. When, and at what human and economic costs, remain big unknowns. But when markets return to something like normality, investors are likely to find a fundamentally altered political and economic landscape: one in which the role of monetary policy has shifted from primary to …

Emma Boyde 3/29/2020, 11:52:41 PM Global coronavirus cases exceed 700,000 Steve Bernard in London The total number of cases worldwide has surpassed 700,000 on Sunday as an additional 44,279 people were confirmed to have contracted coronavirus. The US has so far added 9,516 cases in the past day to about …

Several countries in or neighbouring the EU have rejected Chinese-made coronavirus testing kits and protective equipment as substandard, raising concerns about the quality of supplies. The Netherlands, Spain and Turkey have all claimed there have been problems with products including masks and tests, as rising confirmed cases of Covid-19 infection in …

The Spanish government vowed on Sunday it would not give in to pressure over its decision to put the country’s economy into “hibernation” to fight the spread of coronavirus, despite warnings from business that the move risked a profound social and economic crisis. Spain’s biggest employers federation has complained that …

Africa has reached a “break the glass moment”, an emergency in which international actors need to take drastic action if the world’s poorest continent is to avoid a human and economic catastrophe, Ken Ofori-Atta, Ghana’s finance minister, told the Financial Times. Mr Ofori-Atta, who is also chairman of the joint …

The fiscal and monetary stimulus announced by the world’s major economies over the past month is a global policy event without precedent in peacetime.  The increase in fiscal spending and loans in the US this year alone will reach more than 10 per cent of gross domestic product, larger than …

For years, Banjeet was among the millions of Asians working in the United Arab Emirates, supporting his immediate family in the oil-rich Gulf state and sending money back to relatives in his home country. But this month, as the UAE joined other countries across the globe in shutting down parts …

Rishi Sunak has added at least £60bn of extra public spending to fight the coronavirus pandemic in just over two weeks — a move that will send the UK’s public finances deeply into the red.  Having in effect delivered three Budgets in just 17 days, the chancellor has committed half …