United News of Bangladesh

Wall Street's major averages tumbled on Wednesday amid deepening concerns over the rapid spread of COVID-19 in the country.

A Canadian company said Tuesday it plans to start construction of the disputed Keystone XL oil sands pipeline through the U.S. Midwest in April, after lining up customers and money for a proposal that is bitterly opposed by environmentalists and some American Indian tribes.

Inflation in the 19 countries that use the euro currency sagged to 0.7% in March from 1.2% February as the virus outbreak and an oil price war between Saudi Arabia and Russia rippled through the economy.

Global shares were mostly higher after China reported strong manufacturing data, extending an overnight rally on Wall Street.

Chinese tech giant Huawei said Tuesday its sales of smartphones and other products grew by double digits last year despite U.S. sanctions but warned it now faces a "more complicated" global environment.

Asian markets started the week with fresh losses as countries reported surging numbers of infections from the coronavirus that has prompted shutdowns of travel and business in many parts of the world.

India's central bank on Friday cut its key interest rate by a sizable 75 basis points to 4.4% from 5.15% to ease financing troubles caused by the coronavirus outbreak and help revive the economy.

The rapid spread of the coronavirus since it was first reported in China has dealt an unprecedented shock to the global economy. Here's a look at developments Tuesday as central banks, businesses and workers attempt to navigate a global outbreak that has brought economic activity to a standstill.

Shares opened sharply higher in Asia on Wednesday after the Dow Jones Industrial Average surged to its best day since 1933 with Congress and the White House nearing a deal on injecting nearly $2 trillion of aid into an economy ravaged by the coronavirus.

Global stock markets and U.S. futures surged Tuesday after the Federal Reserve promised support to the struggling economy as Congress delayed action on a $2 trillion coronavirus aid package.