Remittances expected to plunge by about 20 percent globally this year, the biggest decline in recent history, as closures cause a global recession and job losses that prevent workers from sending money to their families back home, World Bank says.
The World Bank's report projects that growth in China and other East Asian-Pacific countries will slow to 2.1 precent this year from 5.8 percent in 2019 under a “baseline” forecast in which economic recovery takes hold this summer.
By lunchtime, the benchmark Shanghai Composite index sat 8 percent lower near an almost one-year trough and poised to post its worst day in more than four years.
As the death toll from the Chinese epidemic jumped to 80 with those affected worldwide approaching 3,000, analysts say there are growing fears the crisis could become as bad as the SARS outbreak that hammered Asian markets in 2003.
Online gaming is turning into a multi-billion dollar industry that has the potential to transform how we consume popular culture.
US President Donald Trump's aggressive approach towards NATO doesn't serve its own long-term interests.
The difficult relationship between two key US allies in Asia-Pacific has become a full-blown trade war, which is bound to have an impact on the global economy.
North Korea fired two "unidentified projectiles" into the sea off its eastern coast, South Korea's military says, the latest in a series of launches by Pyongyang.
China has already denounced the sale, one of the biggest yet by the United States to Taiwan, which Beijing considers a renegade province, warning of unspecified "countermeasures."
The test verified the combat effectiveness of the overall system, and North Korean leader Kim Jong-un predicted "it would be an inescapable distress to the forces becoming a fat target of the weapon", state news agency KCNA said.
Thursday's missile tests were the first since Kim and US President Donald Trump agreed to resume nuclear talks during an impromptu meeting last month in the demilitarised zone between North and South Korea.
John Bolton is meeting South Korea's chief of National Security Office, defence minister, and foreign minister in Seoul to discuss issues including denuclearisation of the Korean Peninsula and ways to strengthen the South Korea-US alliance.
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