Connect with us

World News

Japan Falls Into Recession Amid Coronavirus Pandemic

Published

on

Japan Falls Into Recession Amid Coronavirus Pandemic

Japan, the world’s third biggest economy, has fallen into recession for the first time in five years amid the coronavirus pandemic.

Despite not going into full national lockdown, japan issued a state of emergency in April which severely affected supply chains and businesses.

READ:  Iraqi Prime Minister Makes First Visit To Saudi Arabia

Consumers in japan have been hit by the dual impact of the coronavirus and a sales tax hike of two percent in October.

The country has lifted the state of emergency in 39 out of its 47 prefectures, but the economic outlook for this current quarter is still gloomy.

READ:  Russia Wants War - Poroshenko

The Japanese government has announced a record one trillion dollars stimulus package, and the bank of japan expanded its stimulus measures for the second straight month in April.

READ:  Duterte Extends Philippines's Coronavirus Lockdown To April 30

Prime minister Shinzo Abe has pledged a second budget to fund fresh spending measures to cushion the economic blow of the pandemic.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

World News

New Zealand Announces Return Of Coronavirus After 102 Days

Published

on

By

New Zealand Announces Return Of Coronavirus After 102 Days

New Zealand has on Tuesday announced its first locally transmitted coronavirus infections in 102 days, prompting the country’s prime minister Jacinda Ardern to issue a stay-at-home lockdown order for the country’s largest city.

Until today, the country had been enjoying a near-normal lifestyle with no social distancing and spectators allowed at sports and cultural events.

READ:  Iraqi Prime Minister Makes First Visit To Saudi Arabia

The prime minister said “after 102 days, we have our first cases of COVID-19 outside of managed isolation or quarantine facilities… While we have all worked incredibly hard to prevent this scenario, we have also planned and prepared for it”.

Speaking to the country in a televised address she said four cases had been detected in a single family in Auckland from an unknown source.

READ:  Mazda CEO Welcomes New U.S., Canada, Mexico Trade Pact

Earlier, the World Health Organization had hailed the country as an example to others for having “successfully eliminated community transmission”.

In a population of 22 million, the country reported just 22 deaths and had not recorded community transmission since May 1.

READ:  Asia Shares Hit 17-Month Low, China Lets Yuan Slip

Now some social distancing restrictions will be reintroduced in the rest of the country and Auckland will be locked down for at least three days beginning from Wednesday.

Continue Reading

World News

Beirut Explosion: City Holds Vigil To Mourn Blast Victims

Published

on

By

Beirut explosion -City holds vigil to mourn blast victims

After one week of the huge explosion that devastated the Lebanese capital, people in Beirut have on Tuesday attended a vigil where a moment of silence was held for some 200 persons killed in the explosion, which also wounded some 6,000 others and left 300,000 homeless.

Last Tuesday, a massive explosion caused by the ignition of some 2,750 tonnes of stored ammonium nitrate devastated Lebanon’s capital which has caused outrage that led the Lebanese government to succumbed to the weight of people’s anger against it over the explosion.

READ:  Iran Plane Crash: Tehran Won't Give Boeing Or US Black Boxes

Prime minister Hassan Diab on Monday, announced his government’s resignation, saying the huge explosion was the result of endemic corruption.

President Michel Aoun accepted the resignation of the prime minister’s government and asked it to stay on in a caretaker capacity until a new cabinet is formed.

READ:  Super Tuesday Voting Gets Underway In U.S.

Today, a crowd stood in silence near the ruins of the city’s port as a Muslim call to prayer was broadcast and church bells tolled at 18:09 (15:09 GMT).

READ:  Iraqi Prime Minister Makes First Visit To Saudi Arabia

Dozens have been questioned, including two former cabinet ministers and more than 20 persons have been detained over the explosion.

Continue Reading

World News

Russia Approves World’s First Coronavirus Vaccine 

Published

on

By

Russia Approves World’s First Coronavirus Vaccine 

Russian, president Vladimir Putin has announced on Tuesday that Russia has developed the first vaccine offering “sustainable immunity” against coronavirus.

The president said during a televised video conference call with government ministers that for the first time in the world, a vaccine against the new coronavirus was registered” in the country.

READ:  World's Largest Plane Makes First Flight Over Mojave Desert

Putin said the country’s health ministry has given regulatory approval for the vaccine, developed by Moscow’s Gamaleya Institute, after less than two months of human testing.

Three days ago, ANN reported that a senior health official at a Russian state laboratory’s vaccine for the novel coronavirus disclosed that it is undergoing its final testing phase and is expected to be registered soon.

READ:  Iraqi Prime Minister Makes First Visit To Saudi Arabia

Last week, Deputy Health Minister Oleg Grinev said in comments carried by the Russian news agency Interfax that “currently it is in the final testing phase, which is extremely important. We need to understand that the vaccine will be safe”.

READ:  Burundi To Boost Testing, President Labels Covid-19 'Worst Enemy'

According to Johns Hopkins University data, Russia has recorded more than 895,000 cases, the world’s fourth-largest Coronavirus caseload behind the United States, Brazil and India.

Continue Reading

Trending

Copyright © 2018 African News Network. All Rights Reserved.

%d bloggers like this: