Coronavirus

Payments, global trade head for digital ‘tipping point’ as coronavirus pandemic forces shift in business environment

Digitisation in payments and global trade has reached a “tipping point” as a result of the challenges created by the coronavirus pandemic, creating a new level of comfort and trust in digitally driven transactions, according to a panel of fintech experts.” data-reactid=”28″Digitisation in payments and global trade has reached a “tipping point” as a result of the challenges created by the coronavirus pandemic, creating a new level of comfort and trust in digitally driven transactions, according to a panel of fintech experts.

Global trade has entered a new era where the digital economy is going to be the centre of the world’s economic structure, according to Jack Zhang, chief executive and co-founder of Tencent Holdings-backed payments operator Airwallex.

Airwallex saw usage by its customers jump by 53 per cent in the second quarter from the first, with some of its e-commerce customers experiencing 200 per cent growth

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Coronavirus surge, renewed lockdowns fan fresh worries about global fuel demand

By Ahmad Ghaddar, Stephanie Kelly and Laura Sanicola

LONDON/NEW YORK (Reuters) – Surges in coronavirus infections are slowing a recovery in fuel use from the doldrums of lockdowns in the United States and other countries, raising concern it could be years before consumption rebounds from the impact of the pandemic.

Global fuel demand fell by around a quarter at the peak of the lockdowns, when over 4 billion people worldwide were asked to stay at home. The unprecedented decline in demand forced producers to make record output cuts and pump hundreds of millions of barrels of oil into storage.

Fuel consumption and oil prices had recovered some ground as governments relaxed restrictions on population movements and the output cuts stemmed the glut.

That recovery is stalling, however, as infections swing upward in top fuel consumer the United States, as well as in other major economies such as Brazil and India.

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Top-Performing Technological ETFs Amid Coronavirus Crisis

The technological sector has kept its promise of strong returns so far this year, combatting the economic slowdown induced by the coronavirus pandemic. The S&P 500 Information Technology Sector Index has gained around 18% so far in 2020 as against the broader S&P 500 index’s loss of 2.4%. Going on, it is being widely believed that the major technology companies’ resilience to the coronavirus crisis have been supporting the Nasdaq Composite index. Major technology stocks like Facebook (FB), Microsoft (MSFT), Apple (AAPL), Netflix (NFLX) and Alphabet (GOOGL) are all positive in 2020 so far. Moreover, Amazon (AMZN) has supported the Nasdaq by gaining more than 45% in the year.

On major support from Amazon and Microsoft, the tech-heavy Nasdaq Composite index gained 0.5% on Jul 9 in spite of its major market peers declining by more than 0.5%, largely due to rising coronavirus cases.

The second half of 2020 is

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