economy

With the disease showing little sign of being fully controlled until a vaccine is created, economic recoveries and a months-long global markets rally are sputtering.

It marked the second consecutive quarter of contraction, meaning the city state has entered a recession for the first time since 2009.

A worrying increase in new cases across the planet has forced governments to revert to measures aimed at preventing the disease's spread.

Finance minister Rishi Sunak is due to deliver his spending plans at 1130 GMT, having already flagged £3 billion of green investment.

Markets have surged about a fifth from their March lows, thanks to the easing of lockdowns.

Worries about second-wave states appear now to be last week's news.

Johnson's new package is intended to meet the unprecedented challenge the pandemic has posed to the economy, and restore the government's standing.

The British central bank has been at the forefront of economic fire-fighting over this year's deadly COVID-19 emergency.

Asian investors leary as signs of recovery offset by fears of second wave.

Beijing carried out mass testing after 36 of China's 57 new cases were linked to a wholesale food market.

Canada also reported a surprise increase in employment, confounding forecasts for a big drop.

Governments in Europe and Asia have become confident enough to lift containment measures.

Adding to the broadly positive outlook is optimism about progress on a vaccine.

Japan was struggling from the effects of natural disasters and a hike in consumption tax even before the pandemic crippled the global economy.

The World Bank warned the crisis could leave about 60 million in extreme poverty, adding that it saw the global economy contracting five percent this year.

The nation's second-quarter contraction is meanwhile expected to be far steeper than the first.

The easing of restrictions was providing a much-needed boost to oil markets.

Italy's economy -- the eurozone's third-largest last year -- is expected to shrink more than in any year since the global depression of the 1930s.

This year the date carries extra significance after the COVID-19 outbreak sent the global economy into a historic tailspin.

The effects of the current crisis might be much bigger than expected.

Depending on locations and levels of the virus there, people will be able eventually to attend public gatherings and conduct non-essential travel.

The OBR warned that the impact of the pandemic could initially be a bigger shock to the UK economy than the 2008 financial crisis and even the world wars.

Li Keqiang visited a bank in Chengdu a day before Tuesday's trilateral summit with the leaders of South Korea and Japan in the southwestern city.

IMF said it looks forward to work in tandem with the new Argentina government to stabilise the economy and promote sustainable growth.

Nobel Prize laureate Paul Krugman predicts a worldwide recession this year, or by 2020.

Part of the drop-off in optimism reflects growing worries about what Trump's get-tough approach on trade might do to U.S. growth prospects.

IMF Managing Director Christine Lagarde told reporters that "the near-term prospect for the global economy appears to be bright."

Supermarket shelves and fridges are empty, and the prices of the few goods that are available can change every day.

Latest survey by Halifax finds fresh signs of market weakness.

The 19-country eurozone economy closed out last year growing stronger than at any time in nearly seven years.