IMF: global economy to recover faster than expected

Oct 14, 2020 05:23 am UTC| Economy

The International Monetary Fund (IMF) gave a better forecast for the global gross domestic product, expecting it to contract by 4.4 percent this year instead of a 5.2 percent it projected in June. The IMF also sees a...

India to implement tax plans on digital giants like Google, Facebook

Oct 14, 2020 01:35 am UTC| Economy

India is expected to implement its digital tax plans rather than wait for Organisation for Economic Cooperation and Developments (OECD) framework on how to tax digital giants like Google, Amazon, Facebook, and...

Banks reduce growth forecasts for S. Korea due to social distancing

Oct 13, 2020 00:00 am UTC| Economy

Major foreign investment banks have slashed their economic growth forecasts for South Korea from an earlier contraction average of 0.9 percent to 1.4 percent as of end-September. The banks, which include Barclays,...

New global digital tax rules target big US tech firms

Oct 12, 2020 23:57 pm UTC| Economy

The Paris-based Organization for Economic Cooperation and Development (OECD) is hoping to help countries raise an extra $100 billion annually in digital taxes from big tech companies by overhauling international tax...

Foreign worker shortage hurting Maryland's crab industry

Oct 12, 2020 23:52 pm UTC| Economy

A shortage of visas for foreign workers and pandemic-caused disruptions hobbled Marylands crab industry, forcing two-thirds of the major seafood processors to rely on a few employees or close business. New visas issued...

Number of unemployed, underemployed South Koreans rise 20%

Oct 11, 2020 23:25 pm UTC| Economy

South Korea had 3.97 million unemployed and underemployed out of an economically active population of 29.9 million as of August, increasing by over 20 percent, or 692,300 people, from last year. In August 2019, the...

US aviation contractors cut thousands of jobs due to delayed govt aid

Oct 10, 2020 00:04 am UTC| Economy

More than 16,500 workers from 15 US aviation firms were laid off due to months of delay in payroll aid from the US Treasury According to an investigation by a US House of Representatives subcommittee, had the US...