Economy

The European Union urgently requires financial injections to stay afloat and survive the coronavirus epidemic currently ravaging the continent, the European commissioner for economy, Paolo Gentiloni, has warned. A whopping €1.5…

Britain has secured 25 million protective gowns from China and is working across the globe to secure more supplies of medical clothing after some hospitals warned they were running dangerously low, Culture Minister Oliver Dowden said on…

Europe will need at least another 500 billion euros from European Union institutions to finance its economic recovery after the coronavirus pandemic, on top of the agreed half-a-trillion package, the head of the euro zone bailout fund said.…

Italian health officials declared victory Friday over the coronavirus in the poorer southern regions, where hospitals had been stretched to breaking point under the strain of the pandemic. Prime Minister Giuseppe Conte had warned six…

World Bank President David Malpass said on Friday that countries need to allow more trade in order to recover from the economic downturn prompted by the coronavirus pandemic and said he was concerned about countries hoarding food supplies.…

Russian foreign minister Sergei Lavrov and U.S. Secretary of State Mike Pompeo agreed on a call on Friday to continue coordinating efforts to overcome the crisis in oil markets and the challenges posed by the new coronavirus, a statement…

Oil prices fell on Friday, giving up early gains as China’s worst economic contraction on record outweighed news of U.S. President Donald Trump’s plans to get the American economy moving again. “The market knows that U.S. crude stocks…

International Monetary Fund chief Kristalina Georgieva on Thursday urged governments and the private sector to do all they can to help emerging markets and developing countries weather the economic and health impacts of the coronavirus…

Oil prices ticked up on Thursday after sharp losses in the previous session, with investors hoping that a big build-up in U.S. inventories may mean producers have little option but to deepen output cuts as the coronavirus pandemic ravages…

Abu Dhabi’s Etihad Airways has the full support of its state shareholder as it plans a partial resumption of passenger flights from May 1, its chief executive Tony Douglas said on Thursday. “The cumulative gains achieve by our ongoing…