Saudi Arabia and Russia signaled on Thursday they were ready to cooperate to help stabilize the oil market after calls with U.S. President Donald Trump to discuss the slump in prices triggered by the end of a deal to curb output and a collapse in demand.
The Iran-backed Hezbollah terrorist organization in Lebanon has been accused of helping to bring coronavirus to the nation. Opponents of the powerful group point out that Lebanon took three weeks to block flights from Iran, after a woman who had just returned from there tested coronavirus positive on February 20. Hezbollah is accused of causing the delay to ensure its supporters could return home. Denying the claims, Hezbollah is trying to show the Lebanon Shiite community that it is working to protect them from the outbreak.
The world’s largest investment bank and financial services company warns of a “deep global recession” due to the new coronavirus pandemic. New York-based Morgan Stanley says worldwide economic growth could slow by as much as 0.9 percent this year. “[The virus] COVID-19 is at once a human tragedy and unparalleled synchronous shock, affecting both the demand and supply sides of the global economy,” writes Morgan Stanley chief economist Chetan Ahya in a note.
President Trump warned that Iran and its allies are planning to attack American troops “and/or assets” in Iraq.
With roughly half the world in lockdown and many politicians weak or ill, the largest Dutch daily concludes in a headline: “World searching for LEADER.” De Telegraaf (The Telegraph) also expresses that “Nobody takes the lead in the fight against the coronavirus pandemic.” Its commentator, Frank van Vliet, complained: “While the world is on fire, international politicians are running in one direction to put out their fire. No leader has taken the lead, and solidarity is lacking. They did not read author Alexander Dumas’ Three Musketeers because “one for all and all for one” has been replaced by “own people first.”
The Trump administration on Monday renewed several waivers on U.S. sanctions against Iran, allowing Russian, European and Chinese companies to continue to work on Iran’s civilian nuclear facilities without drawing American penalties.
North Korea fired what appeared to be two short-range ballistic missiles into the ocean off its east coast on Sunday, the latest in an unprecedented flurry of launches that South Korea decried as ‘inappropriate’ amid the global coronavirus pandemic.
The U.S.-led coalition withdrew on Sunday from a military base in northern Iraq that nearly launched Washington into an open war with neighboring Iran.
Ex-British Prime Minister Gordon Brown is calling for a “temporary” one-world government as a supposed relief effort for economies hit by fear of spreading disease.
Iran’s theocratic regime could crumble under the pressure of the coronavirus outbreak that has spread through elite ranks and the broader population alike, according to the European Union’s top diplomat.
G20 nations pledged a ‘united front’ Thursday in the fight against coronavirus, saying they were injecting $5 trillion into the global economy to counter the pandemic amid forecasts of a deep recession.
National governments across the world are joining with telecom companies to collect private mobile phone user data and erode privacy standards, using the fear of a global pandemic as a justification for tracking citizens.
Finance ministers fell short of agreement Tuesday night on an EU-wide strategy to fight an economic slump caused by the coronavirus.
North Korea launched two short-range ballistic missiles towards the East Sea on Saturday, according to the South Korean military, in a move that highlights the country’s continuing military expansion amid a global health pandemic.
The ongoing spread of the coronavirus has spurred government agencies to warn its citizenry against the use of paper currency and coins. Meanwhile, Central Banks around the world are considering the use of cryptocurrency in the future.
Even the new coronavirus can’t stop President Vladimir Putin when his power is on the line. As rumors abound that Russia’s capital is about to be locked down to prevent an outbreak of COVID-19, Mr. Putin said this week that an April 22 nationwide vote on constitutional amendments that could keep him in power until 2036 will proceed as planned.
The European Central Bank (ECB) announced an economic stimulus program worth €750 billion Wednesday night.
From Jerusalem’s Western Wall to Saudi Arabia’s Mecca, the coronavirus is changing the Middle East and people in the region are adjusting to a new normal.
An ‘unprecedented’ locust swarm is forming in the Horn of Africa, according to the UN Food and Agriculture Organization, and is expected to cause major food shortages across Africa and the Middle East later this summer.
The European Union announced that member nations will close the EU’s external borders for the next 30 days to slow the spread of the coronavirus pandemic.