Fri, 30 Oct 2020

WASHINGTON -- China's economy is expected to grow by 2.0 percent in 2020, up from the 1-percent growth projection released in June, the World Bank said on Monday.

The growth will be boosted by government spending, strong exports, and a low rate of new COVID-19 infections since March, but checked by slow domestic consumption, the World Bank said in the October 2020 Economic Update for East Asia and the Pacific. (US-World Bank-China's Economy)

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WASHINGTON -- Democrats from the U.S. House of Representatives unveiled on Monday a 2.2-trillion-U.S.-dollar COVID-19 relief package, attempting to pressure the White House and Republicans to reach a deal before the presidential election in November.

"This $2.2 trillion Heroes Act provides the absolutely needed resources to protect lives, livelihoods and the life of our democracy over the coming months," House Speaker Nancy Pelosi wrote Monday night in a letter to Democratic lawmakers. (US- COVID-19-Relief Package)

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QUITO -- Ecuador's export sector will take two to three years to recover from the novel coronavirus pandemic, Deputy Minister of Foreign Trade Daniel Legarda said on Monday.

"This pandemic's blow to the economy has been extremely strong, and more or less that is the time in which we expect to see a recovery," the official said in an interview with local media. (Ecuador-COVID-19-Economy Recovery)

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CANBERRA -- The Australian Government has announced a digital business plan to enable businesses to take advantage of digital technologies to grow their businesses and create jobs in the wake of the coronavirus crisis.

Prime Minister Scott Morrison and Treasurer Josh Frydenberg announced the almost 800 million Australian dollar (about 566 million U.S. dollar) scheme on Tuesday, saying it would facilitate doing more business online in a post-coronavirus world. (Australia-COVID-19-Digital Plan)

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