UK economy, gearing up for recovery, grows more than expected in March

London: Britain’s pandemic-battered economy grew more strongly than expected in March as it gathered speed for a bounce-back from its coronavirus slump of 2020, official data showed on Wednesday. The 2.1% growth from February was led by the reopening of schools which, alongside COVID-19 testing and vaccinations, pushed up activity in the public sector and […]

Sudan: IMF announces financing plan aimed at debt relief

Washington: The IMF executive board on Monday approved a financing plan “to cover its share of debt relief to Sudan,” Managing Director Kristalina Georgieva announced. “This marks a critical step in helping Sudan advance the process of normalizing relations with the international community,” Georgieva said, adding that the “plan relies on a broad effort of […]

UN raises global economic forecast to 5.4% growth in 2021

New York: The United Nations on Tuesday responded to the rebounding Chinese and U.S. economies by revising its global economic forecast upward to 5.4% growth for 2021, but it warned that surging COVID-19 cases and inadequate availability of vaccines in many countries threaten a broad-based recovery. In raising its projection from January of 4.7% growth, […]

COVID-19 impact: Businesses suspend operations, help staff as virus ravages India

Mumbai: Some companies in India are temporarily halting business or offering unusual assistance to employees as a devastating wave of the coronavirus sickens and kills hundreds of thousands. Feng Tay will suspend its Indian factories for 10 working days to keep its employees safe, the Nike-supplier told the Taiwan stock exchange Wednesday. It follows firms […]