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Reserve Bank of India cuts rate by 75bps as distress mounts over S.Asia amid lockdown

30-03-2020

On Friday, the 27th of March 2020, in an emergency move to curb out the impacts of a global-scale recession the Reserve Bank of India (India’s Central Bank) had slashed its benchmark interest rate by 75 bps

JPMorgan lowers US growth forecast further for Q1, Q2 to -10%, -25% respectively

29-03-2020

Later this week, the NY-based United States’ largest lender, JPMorgan Chase & Co., had lowered US GDP forecast further for the first and second quarter of 2020

Historic $2.2 trillion aid package becomes law as US House approves bill

28-03-2020

On Friday, the 27th of March 2020, in a breakthrough move to back the United States’ coronavirus-hit economy, the Democratic controlled US House of Representatives had approved a record $2.2 trillion in fiscal aid package

Washington says US Consumer Spending tepid; U. Michigan Sentiment drools 3-1/2 yr low

28-03-2020

On Friday, data released from the US Commerce Department had vindicated a vivid demonstration of a new reality in which the US economy appeared to be erasing every kind of sugar-coating and rolling down deeper in to an abruptly strengthening recession

G20 leaders to inject $5 trillion into global economy in battle against Covid-19

27-03-2020

Late on Thursday, leaders of the G20 nations had committed $5 trillion in a video conference summit to battle past the clattering wave of coronavirus pandemic, which has been wreaking havocs in the Central Europe, the virus outbreak’s present epicentre

US weekly jobless claims surge to record 3.28 million as Covid-19 lockdown weighs on

27-03-2020

On Thursday, US unemployment data had stunned the a gauge of global Labour organizations including the ILO, as the number of American citizens filing for unemployment benefits for the first time in their lives had surged to a record 3.28 million last week

Canadian oil & gas companies strive for Ottawa aid amid twin shock

26-03-2020

On Wednesday, the 25th of March 2020, an energy industry body representing Canadian oil drilling and natgas mining operations had urged Ottawa to proffer credit and cash to help them survive

Coronavirus’ financial fallout will be worse than 2008, says WTO Chief Azevedo

26-03-2020

On Wednesday, the 25th of March 2020, Roberto Azevedo, the WTO Chief, had raised an alarming bell over an accelerating financial rout on a gauge of global economic majors, in particular over the G7 nations

Washington kickstarts new drilling lease sales despite oil market slump

24-03-2020

Despite a flurry of fierce criticism from American taxpayers who suggested against new drilling lease amid a multi-year low oil price, the Trump administration had decided to move ahead with new drilling leases in four western states

US Treasury’s Mnuchin urges Washington to pass $2 trillion economic relief bill

23-03-2020

On Monday, the 23rd of March, the US Treasury Secretary Steven Mnuchin had urged a divided US Congress to quickly pass a monstrous $2 trillion economic aid bill to limit the financial casualties of a gruelling coronavirus outbreak in the United States

Russia blames Gulf for steep decline in oil prices, likely Texas Shales' bankruptcies

23-03-2020

On Saturday, a senior Russian official said that Kremlin was neither seeking a sharp plunge in crude oil prices nor an end to a three-year-long pact of OPEC members alongside Russia-led other petroleum exporting countries

Australia's Morrison hikes Covid-19 stimulus to 10% of GDP, orders partial lockdown

23-03-2020

Earlier on Sunday, the 22nd of March 2020, the Australian Prime Minister Scott Morison had pledged an additional $38.50 billion or A$66.40 billion in aid to battle past the consequential repercussions of coronavirus pandemic

Oil posts 4th straight weekly decline; US crude in steepest weekly plunge since ‘91

21-03-2020

On Friday, the 20th of March 2020, the US West Texas Intermediate crude futures’ prices had witnessed a wobbling trickle of as much as 10.7 per cent and reported its steepest weekly decline since the ages of Gulf war in 1991

What’s inside UK Finance Minister Sunak’s blank check to counter coronavirus

21-03-2020

On Friday, the 20th of March 2020, UK’s Finance Minister Rishi Sunak had unveiled a monstrous stimulus package to stabilize the coronavirus-struck economy of United Kingdom

Coronavirus presses Trump to take Govt. stake in certain companies

21-03-2020

On Thursday, the 19th of March 2020, S President Donald Trump had indicated a radical transformation of US Government’s relationship to the US-based private enterprises

Rich West injects magnanimous war chest as coronavirus death in Italy overtakes China

20-03-2020

On Thursday, the 19th of March 2020, the richest nations of the world had again pledged to pour heavy money to aid the ailing global economy which has been trembling over coronavirus’ financial fallouts

ECB’s Lagarde launches €750 billion in emergency bond purchase scheme

20-03-2020

On Wednesday, the 18th of March 2020, the European Central Bank (ECB) had initiated a €750 billion ($818 billion) bond purchase program in a coronavirus-led emergency measure

US crude plunged to 18-year low as border lockdowns trigger swamped sell-offs

19-03-2020

On Wednesday, the 18th of March 2020, both US and UK crude futures’ prices had plunged in to their multi-year lows, while the US crude oil pummelled nearly 24.4 per cent to hit its 18-year low figure

Downing Street unfurls $420 billion bailout for UK firms hit by coronavirus

19-03-2020

Late on Tuesday, the 17th of March 2020, the British Government of PM Boris Johnson said that it would create a $420 billion (£330 billion) bailout package in form of low-cost debts to help businesses see through these times of national health emergency

Brent crude ends below $30/barrel, US crude hit 18-year lows

18-03-2020

On Tuesday, the 17th of March 2020, both US and UK crude had extended their losing run, while the UK crude had wrapped up the day below $30/barrel for the first time in three years and the US crude futures' had hit an 18-year lows

Minister says Berlin might take new debts to battle Covid-19, may alter budget policy

18-03-2020

Late on Monday, the 16th of March 2020, the German Economy Minister Peter Altmaier said that the bloc’s largest economy, Germany, had been prepared to take on new debts if necessary

Paris imposes nationwide lockdown as carmaker Renault halts French production line

17-03-2020

On Monday, the 16th of March 2020, the Centre-left French President Emmanuel Macron had ordered stiffer restrictions on people’s movement aimed at slowing down the spread of Covid-19

Zambia’s Zesco says electricity deficit growing after S. Africa’s Eskom deal expired

17-03-2020

Zambia's state-backed utility firm Zesco said in a statement late on Friday that its power deficit grew by nearly 20 per cent over the course of past six months after expiration of a power import deal with S. African utility firm Eskom

US crude jolted below $30/barrel as coronavirus spread, OPEC rancour elevate

17-03-2020

On Monday, the 16th of March 2020, both US and UK crude futures’ prices had pummelled over accelerating worries of coronavirus-driven financial fallouts

Goldman Sachs downgrades US growth forecast for Q1 & Q2 due to coronavirus

17-03-2020

On Sunday, the 15th of March 2020, the NY-based leading US lender and financial services provider, Goldman Sachs, the world’s No. 1 dealmaker, had slashed economic growth projection of the United States for Q1 and Q2

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