Day: May 15, 2020

Oil Set for Third Weekly Gain on Supply Cuts and Demand Recovery

(Bloomberg) — Oil is heading for a third weekly gain on signs the market is slowly rebalancing as major producers cut supply and consumption recovers after a historic collapse in demand due to the coronavirus.Futures in New York are up about 14% this week after closing above $27 a barrel on Thursday for the first time in over a month. China’s industrial output increased in April for the first time since the outbreak, signaling economic recovery aided by government stimulus efforts. Meanwhile, Saudi Arabia has slashed supply to its customers in the U.S., Europe and Asia as OPEC and its …

COVID-19 impact: Global economy could witness losses worth up to $8.8 trillion, says ADB

ADB said that policy makers should work together to quickly limit the pandemic – the longer the containment period, the more difficult and prolonged the recovery will be.

The global economy is expected to suffer USD 5.8-8.8 trillion in losses due to the coronavirus pandemic, Asian Development Bank (ADB) said on Friday.

Of this, the impact on south Asian gross domestic product (GDP) will be to the tune of USD 142-218 billion.”The global economy could suffer between USD 5.8 trillion and USD 8.8 trillion in losses – equivalent to 6.4 per cent to 9.7 per cent of the global GDP

Gamers can’t keep calm! GTA V is now free to play on Epic Games Store; details inside

Epic Games Store has put the entire premium edition of GTA V for free.

Grand Theft Auto V is completely free to play on the Epic Games Store starting today. Yes, you heard that right! While murmurs about GTA V, Rockstar’s smashing thriller of a game, going free for PC on the Epic Games Store have been going around for some time now, you can’t actually believe these things unless you can, well, experience these things for real. You can do that now, all the way through May 21. And it’s safe to say that gamers around the world have