Regional & International Economy

Saudi Arabia’s central bank foreign reserves fell in March at their fastest rate in at least 20 years and to their lowest since 2011, while the kingdom slipped into a $9 billion budget deficit in the first quarter as oil revenues collapsed.

The European tourism sector will need €375 billion to recover from the situation created by the coronavirus crisis, said the European Travel Commission (ETC), a European tourism organisation.

The White House is planning to shift President Donald Trump’s public focus to burgeoning efforts aimed at easing the economic devastation caused by coronavirus (COVID-19) pandemic.

Georgia, at the vanguard of states testing the safety of reopening the US economy in the midst of the coronavirus outbreak, permitted restaurant dining for the first time in a month on Monday while governors in regions with fewer cases also eased restrictions.

Another wave of states prepared to ease coronavirus restrictions on US commerce this week, despite health experts warning there is still too little diagnostic testing, while the White House forecast a staggering jump in the nation’s monthly jobless rate.

The Institute of Chartered Accountants of Bangladesh has asked its members to consider the potential impact of coronavirus pandemic on financial reporting and auditing in regard to displaying fair and real picture of companies’ business.

Continuation of the current economic stagnation during the government-declared shutdown to prevent the spread of coronavirus will result in a grim economic outlook for Bangladesh, economists warn.

US oil prices fell heavily Monday on renewed concerns over storage capacity as the coronavirus throttles demand, even as producers start slashing output to boost markets.

The finance minister of Saudi Arabia said the group is still working to bridge an estimated $8 billion funding gap

The government has launched an over Tk 11 billion scheme as an emergency response to the health threat posed by the COVID-19 pandemic.