This year, the global economy will decline by 4.6% and will return to the pre-virus level no earlier than mid-2022, follows from an updated forecast by the Fitch rating agency. The most pronounced decline will be observed the euro area - in Italy, Spain and France it will exceed 9%. Global GDP will decline this year by 4.6% (not by 3.9% as expected at the end of April). Next year, it will grow by...

Three years ago, three major global pharmaceutical companies did not support the EU proposal to develop high-speed vaccines for pathogens, in particular, such as coronaviruses, The Guardian reported on Monday. According to the newspaper, the plan included intensification of work on vaccines and their approval in the framework of the Innovative Medicines Initiative partnership. The Board of...

The Chinese authorities decided to finally fix the "Hong Kong problem": a draft resolution "On National Security" was introduced for the consideration of the session of the All-China Assembly of People's Representatives. The document provides for unprecedented restrictions on freedom in the “free city” and risks putting an end to the principle of “one country - two systems”. Moreover, Beijing...

The US Senate unanimously spoke out in favor of a bill, which would make it difficult for some Chinese companies to place shares on exchanges in the United States. According to the paper, foreign companies whose shares are traded in the United States will be required to inform if the governments of certain countries own shares in them. At the same time, the British authorities are preparing a...

Greece will allow direct flights to its main tourist destinations from other countries from July 1, announced Prime Minister Kyriakos Mitsotakis, reports AP. The tourist season in the country will begin on June 15: from this date seasonal hotels will open, Head of the Greek government noted. All arrivals in the country will be tested for coronavirus. They will also have to follow “basic security...

The Central Bank of Venezuela has filed a lawsuit in a London court against the Bank of England in order to secure the return of €930 million in gold bars stored in it. The authorities need the funds to fight the novel coronavirus, Reuters reports citing a document submitted to the court. In late January, the Bloomberg news agency, citing sources, reported that the Bank of England refused Caracas...

The European Central Bank (ECB) intends to force Germany to save the European economy by buying up government bonds of different countries of the eurozone, said ECB Head Christine Lagarde. According to her, the Bundesbank is obliged to participate in the general program of quantitative easing (QE) and cannot express objections in this regard, even despite the decisions of the German national...

On Monday, May 18, French and German leaders Emmanuel Macron and Angela Merkel announced creation of an interim fund for economic recovery in the EU with an initial capital of € 500 billion. It is expected that following discussions with other EU member states, this amount will be doubled. Coupled with measures already announced at the national and European levels, this will allow restarting the...

The Indian government will allow private companies to invest in all sectors of the economy, even those that were previously reserved only for state-owned companies, said Finance Minister Nirmala Sitharaman on Sunday. "The new Independent India program will rely on the new policy of public sector enterprises. In strategic sectors, at least one enterprise will remain under state control, but the...