Crude oil prices remained low on Wednesday despite Saudi Arabia’s plan to make deeper cuts against low global oil demand caused by the novel coronavirus (COVID-19). International benchmark Brent crude was trading at $29.59 per barrel at 06:39 GMT for a 1.3% decline after closing Tuesday at $29.98 a barrel. Am…

The global coronavirus recoveries exceeded the 1.5 million mark on Wednesday, according to a running tally by the US-based Johns Hopkins University. The university’s data showed a total of 1,502,620 people won their battle against the pandemic. The number of cases reached 4,278,180 while 292,316 deaths were rec…

Over 300 lawmakers from around the world on Wednesday urged the International Monetary Fund and World Bank to cancel the debt of the poorest countries in response to the coronavirus pandemic, and to boost funding to avert a global economic meltdown. The initiative, led by former U.S. presidential candidate Sen…

International Monetary Fund Managing Director Kristalina Georgieva said on Tuesday that it was “very likely” that the Fund will cut global growth forecasts further as the coronavirus is hitting many economies harder than previously projected. “Incoming data from many countries is worse than our already pessimist…