Singapore’s gross domestic product in the second quarter of 2020 fell by 41.2% compared to the previous quarter. This is evidenced by preliminary national statistics published on Tuesday, July 14.
The volume of industrial production decreased by 23.1%, while construction fell by 95.6%, and the decline in services amounted to 37.7%.
The results were a record drop. At the same time, compared to the second quarter of 2019, Singapore economy reduced by 12.6%, which was also a record reflecting the negative effects of the coronavirus epidemic.
Thus, for the first time since 2009, Singapore economy plunged into a technical recession, which was fixed by the reduction of GDP in quarterly terms for two consecutive quarters. GDP in the first quarter decreased by 0.3% compared to the same period a year earlier.
The American oil and gas giant Exxon Mobil had one of the worst years in its history. Exxon shares have fallen by 45.36% since the beginning of 2020. The company has lost money for three quarters in a row, and in August they were excluded from the benchmark index of “blue chips” Dow Jones Industrial […]
World debt will reach $ 200 trillion, which is 265% of world product, but the debt crisis is not yet expected. This was reported by Reuters, citing the forecast of analysts of the international rating agency S&P Global. It is claimed that this year the debt-to-world debt ratio has risen by 14% as a result […]
Latvian airline AirBaltic will resume flights to Ukraine on December 1 and will start a new flight Vilnius-Kiev to Boryspil airport. The schedule includes departures twice a week on Tuesdays and Saturdays on Airbus A220-300. Flights from Vilnius will depart at 09:00, from Kiev – at 11:15. “Vilnius Airport can be used for transit to […]
Last week, from November 16 to 22, more than 4 million people in the world became infected with the new type of coronavirus, which is a record number since the beginning of the pandemic. This was announced on Tuesday, November 24, the press service of the World Health Organization. According to the WHO, in these […]
If re-rigid quarantine is introduced, the Ukrainian economy will lose three times less than during the spring lockdown. This was stated on ICTV by the adviser to the head of the President’s Office Tymofiy Milovanov. According to him, the second lockdown will be easier, because during this time the economy has adapted to the conditions […]
The fall of the hryvnia will not happen again in the event of a full lockdown, as in March, assured the director of the open markets department of the National Bank Oleksiy Lupin. “We do not expect a repeat of the March events in the foreign exchange market, because in March it was something new, […]
If coronavirus vaccines become widely available and help restore international trade and economic growth, the dollar is likely to fall by 20% in 2021. Bloomberg reports that this forecast was made by Citigroup Bank. If the forecast comes true, it will be a record drop since 1985, when the DXY index fell by 18.5% over […]
During the first weekend of weekend quarantine, catering establishments lost 27% of turnover. This is as of Monday, November 16, according to the platform Opendatabot, citing data from Poster, a restaurant automation company. It is noted that during the week the turnover of cafes and restaurants fell by 10% compared to the previous week. In […]
German Finance Minister Olaf Scholz said that eurozone finance ministers had agreed on a package of measures to reform the European Stabilization Fund (ESM). “The ESM reform strengthens the euro and the entire European banking sector,” said Scholz, whose country currently holds the EU presidency. According to the agreements, a new “safety cushion” for European […]Next
Production and supplies of the American manufacturer of the electric vehicles Tesla grew in the third quarter of 2020 by almost 1.5 times a year, the company said in the release. Therefore, Tesla’s deliveries in the third quarter amounted to 139.3 thousand against 97 thousand in 2019, and the production – 145.036 thousand compared with […]Next
Apple has given to CEO Tim Cook two options which can be converted into approximately 1 million shares of the company under certain conditions. This follows from the documents submitted by the corporation in the Securities and Exchange Commission (SEC) of the USA. The first option is 333,987 shares with the restrictions, which the head […]Next
Startups European market by the number of attracted investments only gives place to America and China markets. According to the analysis, which is carried out the investment bank of France Clipperton and resource Who Got Funded, it increased the number of transactions up to $ 30 million last year, which graded decline in the proportion […]Next
The American company Rivian Automotive purchased the plant, formerly owned by the Japanese carmaker, and intends to use it for the production of electric cars. The reason for the suspension of production by the former owner at the Illinois plant was the fact that the model, which was produced there (light SUV Outlander Sport / […]Next
Court of the United States in late Sunday night temporarily blocked ban by the administration of President Donald Trump on downloading the TikTok program. This was reported by Reuters on Monday, September 28. Considered, that that the ban was to take effect on Sunday at 23:59 local time (Monday at 6:59 Kyiv time). However, the […]Next
The decision of the Constitutional Court violates Ukraine’s obligations to Western creditors. This was reported by the Ministry of Finance with reference to the statement of the head of the department Serhiy Marchenko. He addressed to the assessments of the World Bank management regarding the decision of the Constitutional Court on the officials’ e-declarations. “They […]Next
JP Morgan Chase will pay $ 307 million as a fine to regulatory authorities. The reason of such decision of the regulators is that the bank did not disclose the information about conflicts of interests to investors in the implementation of its own advertising investment products to clients. Based on the date of the Securities […]Next
Economic Court of Odessa region has introduced the procedure of readjustment PJSC “Odessa Oil and Fat Plant”, 29 July 2016. This is stated in the relevant court judgment in the case №916/4932/15. The case of bankruptcy of PJSC “Odessa Oil and Fat Plant” Court of Odessa region was initiated December 28, 2015. Manager of readjustment has […]Next
Today 11 July Ukraine and Canada signed an agreement about establishment a free zone. During the signing were attended the President of Ukraine Petro Poroshenko and Prime Minister of Canada Justin Tryudou. Ukrainian MP Stepan Kubiv wrote on his page on facebook, it is a very important document for Ukraine. He will bring the relations […]Next
The Council of the European Union approved funding in the amount of 87.4 billion euro for the Member States in the form of the loans under the SURE – temporary EU instruments to reduce the risk of unemployment during the pandemic coronavirus COVID-19. This support should help for the Member States to finance sharp increase […]Next
Ukraine will allocate 2.6 billion hryvnias for the purchase of a coronavirus vaccine. This was stated by Finance Minister Serhiy Marchenko at the press conference on Monday, September 14. “By 2023, we have a real opportunity to ensure health care spending at 5%. There is an increase in 2021 to 4.2% of GDP for health […]Next
The State Property Fund of Ukraine sold the Sukhodol distillery in the Lviv region to a private investor for UAH 60.3 million. This was reported by the state concern Ukrspirt, which included the company. The starting price at the auction increased 2.8 times, starting from UAH 21.7 million, Ukrspirt said. Sukhodolsk distillery became the sixth […]Next
According to the Wall street journal, the French regulatory authority has fined 20 firms engaged in the delivery for 672 million euro. The reason for this decision of regulators is financial fraud of companies, that administered prices through collusion for six years. The companies violated the law in the financial sector and in the field […]Next
In September 2015 it became known that diesel engines VW and Audi brands have been equipped with special incorrect installation that could not detect the level of emissions when they were being tested. So because of this program, the emission of harmful substances into the atmosphere while driving on such cars exceeded all established norms, […]Next
German-Ukrainian Fund signed a memorandum of cooperation with the Ukrainian lender Oschadbank. On the eve of this information was posted on the NBU website, which also contains excerpts from the press release of the fund. According to the original source, the collaboration of investors will focus on the maintenance of small and medium-sized businesses. The […]Next