Tag Archives: economy

Washington, US | XINHUA | The U.S. economy saw the sharpest contraction in decades between April and June as the country grappled with the fallout of COVID-19 lockdowns, indicating the depth and severity of the pandemic-induced recession. The U.S. economy contracted at an annual rate of 32.9 percent in the …

Washington, US | XINHUA | U.S. President Donald Trump said on Thursday that he doesn’t want to delay the November election hours after raising the possibility on Twitter. “Do I want to see a date change? No,” Trump said during a press conference at the White House. “I don’t want …

Washington, US | XINHUA | U.S. President Donald Trump raised the possibility on Thursday of delaying the country’s presidential election in November, alleging that “universal mail-in voting” will make the 2020 election “the most inaccurate and fraudulent” in history. “It will be a great embarrassment to the USA,” he continued. …

Beijing, China | XINHUA | China’s recent acceleration in business reforms has helped the country become the top reformer among large economies, according to a report issued by the World Bank. Figures presented in the Doing Business 2020 report, the latest in a series of annual reports by the World …

Kampala, Uganda | THE INDEPENDENT | Uganda has received a USD 31.6m (116.7 billion shillings) loan from the African Development Fund (ADF) to help in the response to the coronavirus (COVID-19) pandemic. In a statement sent out on Sunday afternoon, the ADF, which is a concessional funding arm of the …

Washington, US | XINHUA | U.S. President Donald Trump resumed his press briefing on the coronavirus pandemic on Tuesday, admitting that the situation in the country will “get worse.” “It will probably, unfortunately, get worse before it gets better — something I don’t like saying about things, but that’s the …

Washington, US | XINHUA | The resurgence of COVID-19 cases across the United States is raising the risk of a double-dip recession if the country is unable to reign in the pandemic, economists have warned. A total of 34 U.S. states have seen increasing rates of COVID-19 infection since the Memorial …

New York, US | XINHUA | Wall Street’s major averages posted mixed results during the past week as investors digested a slew of earnings reports while weighing the impact of surging coronavirus infections. For the week ending Friday, the Dow gained 2.3 percent, the S&P 500 rose 1.3 percent, and …

Washington, US | XINHUA | As many countries gradually reopen their economies, the International Monetary Fund (IMF) Managing Director Kristalina Georgieva has called for further action to support a resilient recovery. “Many countries are gradually reopening, even as the (COVID-19) pandemic remains with us,” Georgieva wrote in a blog published …

Kampala, Uganda | THE INDEPENDENT | In the wake of the unprecedented COVID-19 crisis, tax systems should be reformed and tax avoidance and evasion reduced to ensure an economic recovery in which everyone pays their share, the International Monetary Fund (IMF) has said. Taxes pay for many of the things …