There is a great global misalignment: at the very moment cooperation is more vital than ever to address urgent challenges, it is in decline. In late June, referencing the fractured response to the COVID-19 crisis, United Nations (UN) Secretary-General Antonio Guterres warned “there is total lack of coordination among countries.” Some have gone further, drawing on examples from history and comparing the global quest for a COVID-19 vaccine to the space race between the United

Indonesia's central bank on Thursday cut interest rates for the fourth time this year, with Southeast Asia's biggest economy battered by the coronavirus pandemic.Policymakers at Bank Indonesia reduced the key lending rate by 25 basis points to 4.00 percent, days after the government warned of a looming recession.Central bank governor Perry Warjiyo said the latest rate cut was a "further step" to boost the struggling economy, adding that there were signs of a recovery as a

Singapore's economy shrank more than 40 percent in the second quarter as the coronavirus plunged the Southeast Asian financial hub into recession for the first time in more than a decade, official data showed Tuesday.The 41.2 percent quarter-on-quarter drop was the worst ever recorded in the city-state, which is considered a barometer for the health of global trade. On-year, the economy contracted 12.6 percent in April-June, according to preliminary data released by the trade mi

ASEAN member state Indonesia, the fourth most populous nation in the world – confirmed its first COVID-19 cases in early March. Since then, the number of infections in the archipelago have soared. The largest increase of new cases in a single day was on 9 July with 2,657 cases reported. To date, over 76,000 coronavirus cases have been recorded in Indonesia – the highest in Southeast Asia.

The COVID-19 pandemic is entering its second phase as countries gradually reopen their economies and loosen or even revoke strict social-distancing measures. Yet, barring the arrival of an effective, universally available therapy or vaccine, the transition back to “normal” will be more aspirational than real.

It is no secret that the COVID-19 pandemic has severely affected livelihoods, local industries and the economy in general. As we enter nearly the seventh month of the outbreak – many have lost their jobs across Southeast Asia. According to the Asian Development Bank (ADB), the pandemic will threaten the employment of 68 million workers across Asia if the outbreak goes on until September.

The coronavirus crisis has taken a much heavier toll on jobs than previously feared, the United Nations (UN) said Tuesday, warning that the situation in the Americas was particularly dire.In a fresh study, the International Labour Organization (ILO) estimated that by the mid-year point, global working hours were down 14 percent compared to last December - equivalent to some 400 million full-time jobs.That is more than double the number forecast by the UN organisation back in April, when it ex

The deadly COVID-19 virus has been looming over nations around the world, preying on victims since it first appeared last December in Wuhan, China. To date, more than eight million people have been infected globally and fatalities are inching towards the half million mark. Other than threatening our health, the coronavirus has also severely affected livelihoods, major industries and the economy in general.

According to the International Labour Organisation (ILO), about 122 million children aged between five- and 14-years old work for their survival in Asia. Some surveys estimate that there are around 152 to 168 million child labourers across the world. The actual figure is unclear given the variations in the definition of child labour in different countries including variations in age of employability and nature of employment.

The coronavirus crisis has severely affected numerous sectors, from aviation, and tourism, to oil and gas even property. The World Bank noted in its recent ‘Global Economic Prospects’ report that the pandemic has caused the broadest collapse of the global economy since 1870.