United News of Bangladesh

Global stock markets and U.S. futures fell Monday after central bank moves to shore up economic growth failed to dispel investor's fears over anti-virus controls that are shutting down global business and travel.

In a surprise announcement, the U.S. Federal Reserve on Sunday cut its benchmark interest rate by a full percentage point to near zero and pledged to boost its bond holdings by at least 700 billion U.S. dollars amid mounting fears over the COVID-19 outbreak.

U.S. stock futures fell sharply after the Federal Reserve slashed interest rates and more companies and governments took action over the weekend to shut down European and American society in the face of the growing virus outbreak.

The central bank of the United Arab Emirates, home to the skyscraper-studded city of Dubai, on Sunday announced a $27 billion stimulus package to deal with the economic effects of the coronavirus pandemic.

Saudi Arabia's state-run oil giant Saudi Aramco said Tuesday it would increase its crude oil production to 12.3 million barrels a day in April, a record amount.

Saudi Arabia's state-run oil giant Saudi Aramco said Tuesday it would increase its crude oil production to 12.3 million barrels a day in April, a record amount.

British supermarket chain Tesco has agreed to a $10.6 billion deal to sell all its stores in Thailand and Malaysia to companies belonging to the CP Group, Thailand's biggest conglomerate.

Asian stock markets rebounded Tuesday from record-setting declines after U.S. futures rose following President Donald Trump's announcement he would ask Congress for a tax cut and other measures to ease the pain of the spreading coronavirus outbreak.

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Asian stock markets plunged Monday after global oil prices nosedived on worries a global economy weakened by a virus outbreak might be awash in too much crude.