Tag Archives: Economy

Coronavirus to leave a legacy of unprecedented global debt

Enormous doses of stimulus spending are offering relief from coronavirus damage but their lifelong legacy of debt could seed future crises by hobbling economic growth and worsening poverty, especially in developing countries. Central banks and governments worldwide have unleashed at least $15 trillion of stimulus via bond-buying and budget spending …

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Iran to launch 5 new free trade zones

The Iranian parliament has approved plans for launching five new free trade zones (FTZ) in north and east of the country. The parliament on Monday allowed the government to prepare the required conditions for developing two major FTZs in Sarakhs and Dogharoun, areas on the border with Afghanistan. Dogharoun, the …

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Eurozone economy shrinks at a record rate

The eurozone economy shrank at the sharpest pace on record in the first quarter as the Covid-19 pandemic forced countries into lockdown. The first estimate of GDP between January and March showed a contraction of 3.8%, worse than during the financial crisis. Separate figures revealed a steep fall in economic …

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Another 5.2 million Americans filed for unemployment benefits in the latest week

U.S. Jobless Claims Top 20 Million Since Start of Shutdowns The US Labor Department reported that 5.245 million more Americans filed first-time claims for unemployment last week. The new numbers include independent contractors and others who previously were not eligible for benefits. That brings the total rise in US unemployment …

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