Tag: plunge
Written by Gabriel HerveyApril 9, 2020
COVID-19 crisis could plunge half a billion people into poverty, says charity Oxfam
News Business Article
LONDON: The fallout from the coronavirus spread that has killed more than 83,000 people and wreaked havoc on economies around the world could push around half a billion people into poverty, Oxfam said on Thursday (Apr 9). The report released by the Nairobi-based charity ahead of next week’s International Monetary Fund (IMF)/World Bank annual meeting calculated
Written by Gabriel HerveyApril 6, 2020
Italy’s virus deaths plunge to lowest since Mar 19
News Business Article
ROME: Italian officials said on Sunday (Apr 5) they may soon have to consider easing restrictions after seeing the daily coronavirus death toll plunge to its lowest in over two weeks. The 525 official COVID-19 fatalities reported by the civil protection service was the Mediterranean country’s lowest toll since 427 deaths were registered on Mar 19. Advertisement
Written by Gabriel HerveyMarch 12, 2020
Wall Street pauses trading after stocks plunge
News Business Article
NEW YORK: Trading on Wall Street was halted just moments into Thursday’s (Mar 12) session after US stocks plunged further on the deepening economic pain from the coronavirus. Trading was suspended after the S&P 500 dropped 7.0 per cent to 2,549.05, triggering an automatic 15-minute suspension. Advertisement Advertisement The Dow Jones Industrial Average plunged 7.2 per
Written by Gabriel HerveyMarch 12, 2020
Singapore stocks plunge amid global sell-off after COVID-19 pandemic declared
News Business Article
SINGAPORE: Singapore’s stock market plunged more than 4 per cent on Thursday (Mar 12) after the World Health Organization (WHO) declared the COVID-19 outbreak a pandemic and the United States announced a 30-day ban on travel from Europe over the coronavirus. The benchmark Straits Times Index fell as much as 4.2 per cent to 2,666.05
Written by Gabriel HerveyMarch 11, 2020
Cathay Pacific 2019 profits plunge, predicts virus losses
News Business Article
HONG KONG: Cathay Pacific on Wednesday (Mar 11) said profits plunged in 2019 as it reeled from political unrest in Hong Kong, while it warned financial losses lay ahead owing to the spread of the new coronavirus. The flagship carrier was battered throughout the second half of last year as violent protests raged for months in
Written by Gabriel HerveyMarch 9, 2020
China closes makeshift hospitals as COVID-19 cases plunge
News Business Article
BEIJING: China has closed most of the makeshift hospitals opened to receive COVID-19 patients in the epidemic’s epicentre as the number of new infections in the country hit a record low. There were 40 new cases nationwide, the National Health Commission said on Monday (Mar 9), the lowest number of fresh cases since it started
Written by Gabriel HerveyMarch 7, 2020
China exports plunge on COVID-19 epidemic
News Business Article
BEIJING: China’s exports plummeted in the first two months of this year on the back of a coronavirus epidemic that forced businesses to suspend operations, disrupting the world’s supply chains. Exports fell 17.2 per cent, the biggest drop since February 2019 during the trade war with the United States, and imports dropped 4 per cent, according
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