India and Pakistan brace for worst locust attack in 27 years

NEW DELHI — In the midst of the coronavirus pandemic, India and Pakistan are battling another crisis — their worst locust attack in nearly three decades.

The flying insects have crossed over to India in a wave of desert swarms from neighboring Pakistan, sweeping several parts of the country and threatening to damage crops.

Indian Prime Minister Narendra Modi noted in a Sunday radio address that many parts of the country have been affected by locust attacks, adding that efforts are on to help farmers and reduce crop losses by using modern techniques to tackle the crisis. “I am sure

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Markets brace for negative interest rates by the end of the year

Markets are now bracing for the Bank to enter the uncharted territory with investors pricing in rates to drop below zero by the end of this year. The Government issued debt with a negative yield for the first time ever on Wednesday amid the speculation. Investors were paying the state for the pleasure of lending it money.

Allan Monks, economist at JP Morgan, says Bailey’s comments “moved the dial” but adds it will take the Bank “a while before it feels comfortable in using the tool”.

He says: “The appeal is likely to rise now that rates have hit zero

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Japan’s retailers and manufacturers brace for longer shutdown

TOKYO — As Japan’s government looks set to extend its state of emergency for another month to combat the coronavirus outbreak, businesses including retailers and manufacturers are scrambling to adjust their plans for long-term closures.

“I believe it is impossible to return to normal life from May 7,” Abe told reporters Thursday, referring to the date the current declaration is set to expire. “We should expect a rather long battle.”

Japanese officials will discuss extending the state of emergency in an expert meeting Friday.

Local governments will ask businesses stay closed longer if an extension is announced. “We will await

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Spain, Italy and Greece brace for holiday season from hell

The International Monetary Fund has predicted that southern Europe will be among the hardest-hit economies in the world, particularly Greece, Italy, Portugal and Spain – all still picking themselves up after the last crisis.

Greece is expected to take the biggest hit with a 10pc plunge in GDP this year, despite the speedy response of its government in controlling the virus. Cases and deaths there are a fraction of those seen in Spain and Italy, but it is the most reliant on tourism revenue except for Cyprus. 

It will be a crushing blow to Kyriakos Mitsotakis’s new business-friendly government, which

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