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BEIJING/NEW YORK: Global cases of the new coronavirus have shot past 1 million with more than 53,000 fatalities, a Reuters tally showed on Friday, as death tolls soared in the United States and western Europe while the world economy nosedived.
WASHINGTON: The coronavirus has already driven the global economy into recession and countries must respond with "very massive" spending to avoid a cascade of bankruptcies and emerging market debt defaults, the head of the International Monetary Fund warned on Friday.
Bloomberg: Only the old hands at the Coffeyville oil refinery could remember anything like the prices posted this month. The small Kansas plant in the heart of rural America was offering just US$1.75 a barrel for Wyoming sweet crude.
KUALA LUMPUR: Malaysia’s political upheaval risks derailing a deal involving the nation’s biggest mobile-phone carrier, according to sources.
KUALA LUMPUR: Malaysia’s political upheaval risks derailing a deal involving the nation’s biggest mobile-phone carrier, people with knowledge of the matter said.
PETALING JAYA: Moody’s Investors Service has revised downwards its gross domestic product (GDP) growth forecast for Malaysia to 3.0% in 2020, and 4.7% in 2021, in view of current risks.
KARACHI: Pakistan's central bank on Tuesday cut its key interest rate by 75 bps to 12.50%, the first reduction in four years, citing a global slowdown to ease inflationary pressure.
KUALA LUMPUR: Given the drop in global trade from the Covid-19 outbreak, coupled with a global tech downcycle and weaker commodity prices, the downside risks on Malaysia’s exports and imports are expected to remain in the near future.
NEW DELHI: Indian refiners of edible oils urged the government on Tuesday to stop issuing import licenses for palmolein to help avoid a crash in domestic prices of rapeseed.
KARACHI: A Middle East operation of Pakistan’s largest bank displayed “significant irregularities” in dealings with politically exposed clients and screening some transactions, according to an inspection by the South Asian nation’s central bank that took place more than a year after the lender was shut out of the US financial system.