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The 55-year-old leader's condition is "improving" and he is in "good spirits," officials assured the public.In New York, the epicenter of the US outbreak, the state's governor noted the new single-day high for viral deaths at 779, but offered an optimistic view for the weeks to come.
The head of the World Trade Organization, Roberto Azevedo, issued a dire warning, saying the economic fallout from the health emergency could be "the deepest economic recession or downturn of our lifetimes."Germany and France, the EU's two largest economies, are bracing for a painful hit.Gross domestic product in export powerhouse Germany is expected to shrink by nearly 10 percent in the second quarter, the country's leading research institutes said.
France is already in a technical recession, the Bank of France said. Its first-quarter performance was its worst since 1945.But officials at the US Federal Reserve said the wide-ranging closures of businesses should not have the lasting impact that was seen in the wake of the global financial crisis in 2008.
As some European countries weighed easing lockdown measures to allow economic activity to resume in earnest, the WHO urged against it.
"Now is not the time to relax measures," said WHO's Europe director Hans Kluge in a statement.Iranian Minister of Petroleum Bijan Namdar Zangeneh (C) attends the 6th Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC Ministerial Meeting in Vienna, Austria, July 2, 2019. Ten non-OPEC oil producing countries led by Russia endorsed on Tuesday the decision by the OPEC to extend production cuts until next March. (Photo: Xinhua)
Top oil producers met on Thursday to discuss a possible cut in output after a collapse in demand due to the coronavirus pandemic and a Saudi-Russian price war causing the market to crash.The teleconference took place at 1400 GMT between OPEC, its OPEC+ allies including Russia and other key non-members, seen as the best chance of providing support to prices which are wallowing at near two-decade lows.
Experts warn that without concerted action the commodity risks another steep sell-off.But investors seemed hopeful on Thursday, sending oil prices rising.