Economy
Italy slips into great recession since World War II
Business confidence in the eurozone's third largest economy in May plummeted to its lowest level
Singapore cuts GDP outlook again as virus batters economy
Singapore’s economy shrank 0.7% year-on-year in the first quarter and 4.7% on a quarter-on-quarter
RBI cuts repo rate, extends loan moratorium, projects negative GDP growth
RBI Governor Shaktikanta Das extended the moratorium period by another three months from June 1 to August 31 due to lockdown extension
World Bank estimates 60 million people may fall into extreme poverty due to covid19
The World Bank announced emergency operations worth USD 160 billion in 100 developing countries to fight the deadly virus
Foreign investors pull out $26 billion from Asian economies, $16 billion from India
The small decline in orders in March is likely to give way to a collapse in investment across this quarter
Stimulus package fails to involve banks as frontline warriors, says RBI board member
He said the three-month moratorium offered for loan repayments announced by Reserve Bank of India is "not enough"
Japan slips into recession, slump set to worsen as pandemic wreaks havoc
The world’s third-largest economy shrank for second consecutive quarter in three months to March, intensifying challenge for policymakers
135 million Indians may lose job due to coronavirus impact
The worst impact will be felt by India's most vulnerable in terms of job loss, poverty increase and reduced per-capita income
Borrowing limit of states increased to tackle economic fallout of covid19
The decision comes after requests posed by various state governments
FM Nirmala announces additional 40k crore under MGNREGS to boost employment
Top-100 universities will be permitted to automatically start online courses by May 30, 2020