United News of Bangladesh

The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Friday related to the global economy, the work place and the spread of the virus.

Friday saw Asian shares advancing while US benchmark crude plunged below $19 per barrel.

China’s economy suffered its biggest contraction since possibly the mid-1960s after it told millions of people to stay indoors as measure to fight the coronavirus pandemic.

The nation's biggest airlines have tentatively agreed to terms for $25 billion in government aid to pay workers and avoid massive layoffs in an industry that has been slammed by the coronavirus pandemic.

Shares were mostly lower Monday in Asia while crude prices lost earlier gains that had come after OPEC and other oil producing nations agreed to cut output to reflect the collapse of demand due to the pandemic.

Toyota Chief Executive Akio Toyoda promised Friday that the Japanese auto industry would seek to protect jobs worldwide as it endures the coronavirus pandemic.

A deal between OPEC and nations including Russia to boost oil prices involves a 10 million barrels per day cut until July, then an 8 million barrels per day cut through the end of the year, though the cartel said Friday its approval hinges on Mexico's agreement.

Shares were mostly higher in Asia on Thursday though Japan's benchmark fell as local leaders sparred with Prime Minister Shinzo Abe's government over measures to contain the coronavirus outbreak.

Just as the coronavirus outbreak has boxed in society, it's also squeezed high-flying tech companies reliant on people's freedom to move around and get together.

The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments on Monday related to the global economy, the work place and the spread of the virus.