Venezuela, officially the Bolivarian Republic of Venezuela, has the largest proven oil reserves in the world. Nevertheless, the vast majority of the local population is struggling to meet ends meet. The country’s economy can be described as underperforming, to say the least, due to various factors. Recently, one of the main supporters of the local …
Russian Oil Giant Rosneft and the Economy of Venezuela Read More »
Wealthiest countries such as the United States, Japan, the United Kingdom, and others are ready to spend trillions of dollars. Moreover, the governments are willing to do whatever it takes to save the global economy from sinking into depression. It is important to mention that commitments from central banks and governments as of March are …
Singapore is a financial hub. However, due to the coronavirus pandemic, the local economy is expected to shrink in 2020. Based on the preliminary information provided by the local authorities, the economy of Singapore shrank by 2.2% in the first quarter of 2020 compared with the same period in 2019. On Thursday, the country’s Ministry …
On early Wednesday morning, the White House and Senate leaders reached a historic $2 trillion stimulus deal. This $2 trillion package comes at a time when the U.S. economy is struggling to deal with coronavirus pandemic. It is worth mentioning that, stimulus deal is one of the most expensive measures in the history of Congress. …
Economy: White House, Senate and $2 Trillion Stimulus Deal Read More »
The federal government of Mexico, as well as local authorities, face what can be described as one of the most serious challenges to the Mexican economy. The list of problems is quite impressive. Firstly, its economy is dealing with a neighbor on near-total lockdown. Moreover, the peso fell to the lowest point in five years, …
Coronavirus as a Major Threat to Mexican Economy Read More »
It is not a secret that the U.S. has the largest economy in the world. However, according to the report prepared by PwC, China will overtake the North American country in several decades. Also, new superpowers will join the list of top ten economies. Interestingly, the world economy is projected to keep growing at a …
On Thursday, Bank of America issued a warning, which may affect not only the U.S. economy but the global economy in general. Investment banks warned investors recession is no longer avoidable. Moreover, the economy is already in recession. Bank of America officially declared that the economy fell into a recession. According to the information provided …
People all over the world are aware of the coronavirus pandemic and how the governments are trying to stop this virus. Currently, the world’s some of the largest economies are struggling to cope with various issues. The U.S. government wants to help companies as well as individuals to deal with ongoing situations. The administration of …
European governments are ready to spend billions of euros to stabilize the situation. Some of the largest economies in the world are under pressure as the coronavirus created many problems for the countries. It is worth mentioning that governments of some European countries are ready to do whatever it takes to avoid the worst-case scenario. …
Countries Are Willing to Save their Economies at Any Cost Read More »
New Zealand is a developed country, a lot of people in the world have at least some knowledge about the country, especially rugby fans. As in the case of other countries, the ongoing coronavirus pandemic created additional pressure on the local economy. Country’s government announced a spending package equivalent to 4% of New Zealand’s gross …
The aviation industry is struggling to minimize the impact of coronavirus. However, it is a very serious task, even for the largest companies in the world. United Airlines it the third largest airline in the world when it comes to fleet size and route network. Moreover, United Airlines is a founding member of the Star …
Central banks from both sides of the Atlantic Ocean made the decision to reduce rates over the last week as ways to support their respective economies. Though the European Central Bank (ECB) decided to choose another option. On March 12, policymakers decided to keep the interest rate, despite market expectations. Nevertheless, the central bank announced …
U.S. government is trying to contain the economic damage from the coronavirus pandemic. Nevertheless, the traditional economic stimulus program may not be enough to save the economy from recession. For instance, a payroll tax cut envisioned by U.S. President Donald Trump won’t persuade millions of Americans to enter crowded shopping malls to take a flight. …
Tax Cuts May Prove Insufficient to Save the Economy Read More »
Coronavirus outbreak continues to dominate the headlines. Local, as well as international companies, are trying to modify their plans in accordance with the new reality. Moreover, a range of banks, as well as financial institutions, released their worst-case scenarios for 2020. It is worth mentioning that the global uptick in the gross domestic product (GDP) …
Banks, Financial Institutions and Virus Outbreak Read More »
China is the main industrial hub in the world. Moreover, it is one of the biggest oil consumers around the globe. However, the coronavirus outbreak is a severe challenge for the local as well as the global economy. The International Energy Agency released its March oil market report. According to this report, global oil demand …
International Energy Agency and the Global Economy Read More »
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