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Coronavirus

Zimbabwe economy to shrink by 4.5pc this year on COVID-19, drought
Markets

Zimbabwe economy to shrink by 4.5pc this year on COVID-19, drought

  • Ncube added that inflation was expected to gradually decline to 300% by December, compared with 737.36% currently.
  • Exports, however, seemed to remain resilient, despite the COVID-19 shock, declining only slightly to $1.53 billion in first five months of this year against $1.56 billion in the same period of last year.
Published 16 Jul, 2020 08:15pm
Russia trying to hack and steal COVID-19 vaccine data, says Britain
World

Russia trying to hack and steal COVID-19 vaccine data, says Britain

  • We condemn these despicable attacks against those doing vital work to combat the coronavirus pandemic.
  • While others pursue their selfish interests with reckless behaviour, the UK and its allies are getting on with the hard work of finding a vaccine and protecting global health.
Published 16 Jul, 2020 06:41pm
Demand for COVID-19 tests powers Abbott's forecast above estimate
Business & Finance

Demand for COVID-19 tests powers Abbott's forecast above estimate

  • The company forecast adjusted earnings of at least $3.25 per share for the year after suspending its outlook in April due to uncertainties over the outbreak.
  • Peer Quest Diagnostics Inc said earlier this week its second-quarter revenue would top analysts' estimates, largely due to growing demand for its COVID-19 tests.
Published 16 Jul, 2020 06:36pm
Morgan Stanley profit jumps 45pc on trading boom
Business & Finance

Morgan Stanley profit jumps 45pc on trading boom

  • The bank's trading unit recorded a 68% jump in revenue, led by a nearly 168% surge in bond trading. Equities trading revenue rose 23%.
  • Morgan Stanley set aside $239 million as provisions for credit losses, down from $407 million in the previous quarter.
Published 16 Jul, 2020 05:10pm
Coronavirus toll at 1900 GMT Wednesday

Coronavirus toll at 1900 GMT Wednesday

  • At least 13,407,780 cases of coronavirus have been registered in 196 countries and territories. Of these, at least 7,264,600 are now considered recovered.
Published 16 Jul, 2020 02:44am
Yield rise as COVID vaccine hopes boost risk appetite
Markets

Yield rise as COVID vaccine hopes boost risk appetite

  • The market is trading fairly 'risk on' on vaccine hopes," said Gennadiy Goldberg, an interest rate strategist at TD Securities in New York. "It's largely COVID news driving the price action recently.
  • Benchmark 10-year notes rose three basis points to 0.648%. They have held in a tight range from 0.569% to 0.784% since mid-June.
Published 15 Jul, 2020 08:33pm