The U.S. economy risks suffering "permanent damage" the longer the lockdown to contain the COVID-19 pandemic drags on, U.S. Treasury Secretary Steven Mnuchin said Tuesday.

Angola on Tuesday awarded the licence for its fourth telecoms network to Lebanese group Africell, as sub-Saharan Africa's second-biggest oil producer opens other economic sectors to foreign competition.

Automakers Renault, Nissan and Mitsubishi have hinted that they may unveil a strategic plan next week to repair their troubled alliance as the coronavirus pandemic lashes the industry.

Facebook on Tuesday reached out to businesses struggling to survive the pandemic with free tools for creating online "Shops" at the social network and Instagram.

Turkey was recovering from its first recession in a decade when the coronavirus hit. Now the economy is on the brink again, and President Recep Tayyip Erdogan is running out of options.

Hopes for a vaccine to treat coronavirus and a further easing of lockdown measures around the world spurred a rally on Asian markets Tuesday as investors tracked a surge across Europe and Wall Street.

The coronavirus pandemic could cut up to 9.7 percent off the global economy, the Asian Development Bank said Friday, doubling its previous estimate as the virus stifles trade and leaves millions jobless.

Restaurants and cafes began reopening in parts of Europe and Central Asia on Monday after weeks of closures, eager to again welcome hungry patrons albeit under strict regulations, as schools also reopened in some countries.

World stock markets rose Monday on a further easing of coronavirus lockdowns around the world, sending US oil prices back above $30 per barrel, but haven investment gold hit a 2012 pinnacle on festering economic fears, dealers said.

Restaurants and churches will reopen in Italy on Monday as part of a fresh wave of lockdown easing in Europe, but rising coronavirus death tolls in Brazil, South Africa and other parts of the world showed the worst is still to come in many countries.