Global economic recovery is going to be slow as long as the COVID-19 pandemic is not under control, International Monetary Fund (IMF) chief economist Gita Gopinath has said, calling for multilateral efforts to contain the virus.
Global finance leaders said the world economy had escaped a coronavirus-triggered collapse so far, but warned that failure to conquer the pandemic, maintain stimulus and tackle mounting debt among poor nations could crush a fragile recovery.
China's exports globally benefited both from its ability to reopen factories faster than other countries and its ability to provide massive amounts of the products needed to fight the novel coronavirus, reported The Wall Street Journal.
Achieving net zero emissions by mid-century would cost an estimated $1 trillion-$2 trillion a year of additional investments, or one percent to 1.5 percent of global gross domestic product, a report by the Energy Transitions Commission (ETC) said on Wednesday.
Global international travel demand is expected to drop 57 percent in 2020, dented by tighter border controls and quarantine measures imposed in an effort to stem the coronavirus outbreak, according to a British research firm.
Experts at the University of Helsinki, Finland, are describing how insect communities are transforming in the Arctic as a result of climate change. The researchers have investigated the presence of small yet important insect predators known as parasitoids.
Political polarization and online misinformation are threatening vaccination programs worldwide, with public trust volatile and varying widely between countries, according to a global vaccine confidence study.
A global analysis revealed for the first time that across almost all tree species, fast-growing trees have shorter lifespans. This international study further calls into question predictions that greater tree growth means greater carbon storage in forests in the long term.
Australia has fallen into recession for the first time in three decades and Brazil's economy shrank by almost 10 percent because of the coronavirus, leaving China as the only major nation still recording economic growth during the pandemic.
The United Nations World Tourism Organization (UNWTO) announced that the coronavirus pandemic and resulting lockdowns have battered the industry and cost a shocking $320 billion just from January to May, a signal of the devastating losses seen in the industry as much of the world remains at home as much as possible, forbes.com reported.
Global potential economic growth is set to drop in coming years due to fallout from the COVID-19 pandemic, amid a rise in unemployment and a cooling of investment by companies, according to Fitch Ratings Ltd.