IOC chief thanks PM Modi for his support to Tokyo Games

In a letter to Modi, dated April 1, Bach said he was “grateful” to the Indian Prime Minister for his support to the Tokyo Games during the recent G20 Leaders’ Summit which was held via video conference in the wake of the pandemic, which has left the world in disarray.

Foreign secretary Shringla holds telephonic talks with top EU official on coronavirus pandemic

New Delhi: Foreign Secretary Harsh Vardhan Shringla on Friday held a telephonic conversation with European Union’s top official on external relations Helga M Schmid with a focus on ways to coordinate efforts to deal with the challenge of coronavirus pandemic. Official sources said Shringla and Schimid, Secretary General of the European External Action Service, exchanged […]

IMF, WHO urge leaders to focus on health spending to get virus under control

In India, where healthcare has long been weak and millions live in crowded, unsanitary conditions, critics say a government shutdown was poorly planned and authorities are now scrambling to contain its fallout instead of focusing on COVID-19, the disease caused by the new coronavirus.

A Joint open letter from World Political Parties concerning closer international cooperation against COVID-19

As major political parties from countries of the world, we undertake to maintain close communication under the unusual circumstances, and ensure better performance of the due role of political guidance for the purpose of injecting political energy into the global fight against COVID-19. We firmly believe that our current difficulties are only temporary, just as […]

AIIB Pledges $5bn For Crisis Recovery Facility to To Fight, Tackle Economic Shock Of COVID-19 Crisis

The AIIB would “do its part” to respond quickly to the financing needs of member-states and clients “in close partnership with other international development institutions”, President Jin said, adding that the new facility would help clients “overcome immediate financial pressures and maintain critical long-term investments that otherwise may not be possible”.

Global finance watchdog seeks to ease some coronavirus curbs; no Libor delay

The Financial Stability Board (FSB) also said an end-of-2021 deadline for stopping the use of Libor benchmarks in financial contracts remained a priority. There has been speculation that the deadline might be put back in response to COVID-19.

FM Nirmala Sitharaman seeks to enhance IMF toolkit, expand liquidity swap network

New Delhi: India has asked the International Monetary Fund to use its existing resources to create a non-stigmatised short term liquidity swap facility, which could be rapidly deployed as and when needed by the countries. New Delhi has also backed the proposed G-20 action plan being formulated to counter the impact of Covid-19. Finance minister […]

Russia, US move past Cold War to unpredictable conflict

Regardless of who inhabits the White House next, Putin isn’t likely to alter his course. Aligning Russia with Syria, countering the US at the UN Security Council and pushing back against NATO by flying bombers along the western Atlantic coast in September, among other moves, serve the Russian leader at home.

Deep oil output cuts won’t offset unprecedented demand loss: IEA

“Saudi Arabia, which has been a stabiliser of oil markets for many years can once again play a constructive role and as chair of the G20 can bring all key economies of the world, producers and consumers together, to have a dialogue to take measures to try to stabilize the oil markets.”

Global funds still recommend bonds over stocks: Reuters poll

“We are experiencing an extremely rapid economic contraction which very likely will have dragged Q1 GDP into negative territory but of course the majority of the hit to GDP will come in Q2,” said Benjamin Suess, director at UBS Asset Management.