Global Economy Shrinking at Alarming Rate, IMF Warns
All signs are pointing to a global economic crisis of proportions not seen in decades in the face of the coronavirus pandemic crisis.
All signs are pointing to a global economic crisis of proportions not seen in decades in the face of the coronavirus pandemic crisis.
China reported that its first-quarter GDP contracted by 6.8% in 2020 from a year ago as the world’s second-largest economy took a huge hit from the coronavirus outbreak, data from the National Bureau of Statistics of China showed.
Hungary has condemned global media watchdog Reporters Without Borders (RSF) for saying that an ‘Orwellian law’ has imposed an ‘information police state’ in the country. RSF urged two United Nations rapporteurs to condemn the governments of Hungary and dozens of other nations for ‘violating the right to information’ about the coronavirus pandemic.
The US 5th Fleet confirmed that on Wednesday a group of US Navy and Coastal Guard ships were subjected to about an hour of ‘dangerous and provocative’ harassment from eleven Iranian Islamic Revolutionary Guard Corps Navy (IRGCN) vessels. The US ships were conducting joint integration operations with US Army helicopters in the international waters of the North Arabian Gulf when they were approached by the Iranian vessels.
The International Monetary Fund (IMF) warns of global social unrest if government measures to halt the coronavirus pandemic are seen as unfairly favoring the rich.
Authorities in Germany say they have detained four suspected Islamic militants for plotting to attack American military facilities in the country. The four men, originally from Tajikistan — along with a fifth individual arrested last year — targeted several U.S. airforce bases on behalf of the Islamic State group, prosecutors said.
Confirmed cases of the new coronavirus reached two million worldwide late Tuesday, prompting several countries to extend lockdowns aimed at stopping the spread of the virus, COVID-19. The lockdowns came amid warnings that the pandemic could lead to the deepest global recession in a lifetime.
U.S. President Donald Trump said Tuesday he is halting payments to the World Health Organization (WHO) over its role in the coronavirus pandemic. “The WHO pushed China’s misinformation about the virus,” he told reporters at the White House.
The Chinese government has ordered new restrictions on studies regarding the origin of the coronavirus outbreak, in a further sign Beijing is hiding details behind the cause of the global pandemic.
A major World Health Organization (WHO) figure is recommending invasive measures against private homes as a means of disease containment.
The coronavirus pandemic that has crippled big-box retailers and mom and pop shops worldwide may be making a dent in illicit business, too.
The chief of the European Union’s executive has warned the block’s elderly that they may have to stay in lockdown till 2021 due to the new coronavirus pandemic. European Commission President Ursula von der Leyen made the comments in a German newspaper. Her remarks further overshadowed Easter and Passover celebrations in Europe. Von der Leyen told Germany’s daily Bild that older people might have to be kept isolated until the end of the year.
A second wave of desert locusts, projected to be 20 times the size of earlier swarms that the UN has called “unprecedented,” is expected to arrive in Africa and the Middle East over the summer.
Britain has pledged 200 million pounds ($248 million) to charities and the World Health Organization (WHO), which has come under U.S. pressure over its handling of the new coronavirus pandemic. Its Easter present came while British Prime Minister Boris Johnson, who has been suffering from the virus COVID-19, said he “owed” his life to British medics.
OPEC and its oil producing allies on Sunday finalized a historic agreement to cut production by 9.7 million barrels per day, following multiple days of discussions and back-and-forth between the world’s largest energy producers. The cut is the single largest output cut in history.
U.S. tech giants Apple and Google have unveiled a plan to track down people who may have been infected by the new coronavirus, despite concerns among rights activists. Their software allows governments to roll out apps for “contact tracing” that will run on smartphones such as iPhones and Android.
France’s competition regulator has ordered online search giant Google to pay French publishing companies and news agencies for re-using their content under Europe’s new digital copyright legislation.
The US State Department announced Monday that it is classifying a Russian white supremacist group as a terrorist organization. This is the first time an American government has categorized white supremacists as terrorists – the classification is normally assigned to Islamic extremist groups.
Islamic State–Khorasan (ISIS-K) claims it carried out Thursday’s rocket attack on Bagram airfield, the largest US base in Afghanistan. There were no casualties or injuries. Bagram’s NATO-led US military mission, Operation Resolute Support, confirmed in a tweet that five rockets were fired at the base early in the morning on Thursday.
American and British cybersecurity officials are warning that state-backed hackers and online criminals are taking advantage of the coronavirus outbreak to further their operations, echoing concerns from digital safety experts.