British economy sees deepest quarterly contraction since 1955
“The British economy recession brought on by the coronavirus pandemic has led to the biggest fall in quarterly GDP on record,” said Jonathan Athow
Latest in Tag: recession Highlight
Latest in Tag: recession
Recession continues to dominate car market
Recent sales plunge forced companies to reduce traditional marketing campaigns in favour of online marketing campaigns, says Auto Group
EM may benefit from COVID-19 recession, risk for energy exporters: Renaissance Capital
No evidence yet that political leaders in DM or EM will see popularity suffer due to pandemic policies
Experts predict worldwide recession of 1.9% in 2020: German ifo Institute
Economic output in US is expected to fall 4.6%. GDP would decrease by 4.2% in Brazil, 3.4% in Russia and South Africa. Japan would experience 3.3% recession
Australia ties record of 26 years without recession
Australia’s economy recorded just enough growth last quarter to match the Netherlands’ record of 103 quarters without recession. But analysts warn of a slowdown as households struggle with low wages and high debt.Government data out on Wednesday showed gross domestic product (GDP) rose a modest 0.3 percent in the first quarter, a pullback from the …
Greek economy slides back into recession
A first-quarter estimate by statisticians has suggested the Greek economy has slipped backed into recession. The cash-strapped southern eurozone nation is facing fresh spending cuts – and more protests by workers.Greece’s national statistics office, Elstat, announced Monday its preliminary figures saw the euro area nation slither into recession again in the January to March period, …
Islamic banking sound option for enterprises facing economic slump
There are mounting concerns currently being voiced by prominent organisations, such as the International Monetary Fund (IMF) and the Bank of International Settlements, over the long-term impact of the slow growth rate reported across all major economic regions from the latter part of 2015 to early this year. Significant losses in the global financial and …
Canada officially falls into recession
Government data has confirmed that Canada officially fell into recession in the first half of this year. Prime Minister Stephen Harper is doing his best to avoid using the term ahead of a general election next month
Weakening outlook for global economy amid fears over China: Merrill Lynch Survey
Merill Lynch, the Bank of America’s (BofA) wealth management division, released on Tuesday the results of its Fund Manager Survey for August. It showed a weakening outlook for the global economy amid fears over China, recording low sentiment towards emerging markets and the energy sector. While the concern over a Chinese recession continues, global investors …
The curious case of Egypt’s economy
According to economists, any country that experiences a revolution should have an economic recession within six months. For anyone who has followed our news, this was not the case in Egypt, and curiously, still isn’t. One of the strangest economic facts that very few people cite about this country is that it hasn’t suffered a …
Nigerian finance resurges but investors still shy
The All-Share Index on west Africa’s leading bourse closed up nearly a third over the year, to 41,329.19 points.
Eurozone escapes recession: Eurostat
Analysts welcomed the figures, which reinforce other survey findings, but were also cautious as the debt crisis continues to sap the economy and unemployment runs at record highs.
Supply directorates provide goods to offset impact of political turmoil
A representatives from within the Al-Minya supply directorate, said the governorate’s bakeries possessed enough flour rations to last four days.
Three-year transition to inflict long-term damage to economy: experts
Regarding Egypt’s request for a $4.8b loan from the International Monetary Fund (IMF), Toulba said negotiations will definitely be put on hold given the current lack of clear political leadership.
NBE, Banque Misr dump foreign assets
Arab investors nevertheless label Egyptian banking sector ‘promising’
EgyptAir to auction seven of its aircraft
Planes include three Airbus 340 and four Boeing 777/200 models
Protests and strikes against recession in Palestine
PM promises to reduce prices by cutting salaries of ministers and officials
Catalonia seeks rescue as Spain recession deepens
As Spain seems closer to a sovereign bailout, Catalonia reach out for a $6.3b government rescue
Eurozone analysts see green shoots
Like the eurozone’s political leaders, analysts are also divided
‘Fiscal cliff’ plan will send US into recession: CBO
Washington (AFP) — The US Congress’s budget analysts said Wednesday that current plans designed to slash the budget deficit after January 1 will plunge the country into recession and push up joblessness. The Congressional Budget Office said the poison-pill political deal on the budget last year — sharp cuts to spending and tax increases that …
Once-resilient Germany catches Europe’s crisis fever
Frankfurt (AFP) — Germany long appeared immune to Europe’s debt crisis, as deep reforms undertaken years ago helped steel the economic powerhouse against the current financial storms lashing its neighbours. But a raft of new economic data suggest that Germany, too, is slowly succumbing to the crisis fevers and could even fall back into recession …
France heads back into recession
Paris (AFP) — France is headed back into recession for the second time in three years, its central bank warned Wednesday in a setback for the recovery prospects of the stricken eurozone. In a downbeat survey of the outlook for Europe’s second biggest economy, the Bank of France predicted a 0.1 percent contraction in gross …