Author Archives: dodasam

Eurozone economy barely grew in September, PMI data show

The economic recovery in the eurozone took a hit in September after a new rise in coronavirus cases, according to purchasing managers data released on Wednesday. The IHS Markit flash eurozone manufacturing purchasing managers index rose to 53.7 from 51.7, while the flash eurozone services PMI fell to 47.6 from 51.9. Taken together, the composite PMI just barely was above ...

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India’s economy set to lag rest of South Asia in race to recovery as Covid surges, report says

Mumbai: South Asia’s biggest economy has been ineffective in stamping out the coronavirus outbreak and it will show up in its economic performance: India is set to lag regional peers in the race to recovery. The relative success of Pakistan, Sri Lanka and Bangladesh in containing the virus will help their economies recover at a faster pace than India, Capital ...

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Manufacturing Keeps German Economy on a Recovery Path

German factories kept Europe’s biggest economy moving in the right direction this month as virus concerns took a toll on services. IHS Markit’s manufacturing Purchasing Managers Index jumped to 56.6 in September — the highest in more than two years — from 52.2 in August. In contrast, the services index fell to 49.1, knocking the combined composite gauge to a ...

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In political turmoil and economic collapse, Lebanon could now be overwhelmed by Covid-19

Coronavirus cases have skyrocketed in Lebanon where the crisis-ridden state is now considering new lockdown measures, raising the specter of a deepening financial crunch. A combination of high infection rates, a floundering economy and renewed political turmoil could signal a new phase in the country’s slew of crises which began after a popular uprising last October. In addition to a ...

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UN General Assembly: US-China tensions flare over coronavirus

Tensions between the US and China came to the fore of the annual UN General Assembly in New York, with US President Donald Trump blaming China for the spread of coronavirus. He called for China to be held «accountable» for the pandemic. In his speech, Chinese President Xi Jinping said his country had «no intention to enter a Cold War ...

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Morrison stresses Australia will live with coronavirus ictions for at least six months

Prime Minister Scott Morrison stressed the coronavirus pandemic measures will be in place for at least six months. «It could be longer,» he told A Current Affair during a live interview with Tracy Grimshaw. The prime minister said that the government›s framework of six months was based off modelling done early in the pandemic, and that he continued to use ...

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AstraZeneca COVID-19 vaccine: Huge setback for Australia’s hopes

The coronavirus vaccine Australia has invested in has been dealt a major setback after researchers uncovered a suspected serious adverse reaction in a trial participant. The vaccine, being developed by pharmaceutical giant AstraZeneca and the University of Oxford, is being tested at dozens of sites around the world. The stage 3 trial – the final stage before safety and efficacy ...

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Vegans rising: Australia second in the world for veganism as Gen Z snubs lab-grown meat

Veganism has soared in popularity around the world, and data shows that Australia is at the forefront of the shift towards plant-based eating. Interest in veganism around the world has doubled over the past five years, and shows no signs of slowing down, according to research by culinary website Chef’s Pencil. Australia is the second-most popular nation in the world ...

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NAB says conditions and confidence in Australian economy still negative

Business conditions have gone backwards for the month of August as ongoing lockdowns in Victoria smother the prospect of Australia’s economic snapback. Latest figures from National Australia Bank’s monthly business survey shows conditions in August had slipped, reversing the gains experienced in the previous month. Business conditions fell six points to an index position of negative six, which has been ...

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Melbourne tech leaders fear ‘tsunami of economic devastation’

Melbourne tech industry luminaries, including venture capitalist Paul Bassat, are fearful the Victorian government’s harsh lockdown restrictions will have a severe and lasting impact on the state’s economy and damage its emerging startup sector. Mr Bassat, who is also an AFL Commission board director, said there was a “certain irony” to weekly team meetings at his Square Peg Ventures investment ...

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