Francis Bacon painting sells for record $142.4 million in New York

Chengdu, Jul 24: China on Friday asked the US to close down its Consulate in Chengdu in retaliation to Washington's decision to shut the Chinese Consulate in Houston.

A statement by the Chinese Foreign Ministry said China has informed the US Embassy of its decision to withdraw its consent for the establishment and operation of the US Consulate General in Chengdu.

This was in response to "unilateral" decision by the US to shut the Houston Consulate. China's decision is legitimate and necessary response to the unreasonable actions of the US, it said.

The US on Wednesday ordered the closure of the Chinese consulate in Houston, a move it said was aimed "to protect American intellectual property and private information."

Reacting strongly to the US move, Chinese Foreign Ministry spokesman Wang Wenbin termed it as an "unprecedented escalation and warned retaliatory measures.

China on Thursday said that "malicious slander" is behind an order by the US government to close its consulate in Houston, Texas, and maintained that its officials have never operated outside ordinary diplomatic norms.

Wang said the order to close the consulate violates international law and basic norms governing international relations, and seriously undermines China-US relations.

This is breaking down the bridge of friendship between the Chinese and American people, Wang said.

Washington, Apr 17: The confirmed coronavirus death toll in the United States reached 32,917 on Thursday, according to a tally by Johns Hopkins University.

The toll as of 8:30 pm (0030 GMT Friday) marked an increase of 4,491 deaths in the past 24 hours, by far the highest daily toll in the pandemic so far.

But the figure likely includes "probable" deaths related to COVID-19, which were not previously included. This week, New York City announced it would add 3,778 "probable" coronavirus deaths to its toll.

As of Thursday night, the US Centers for Disease Control and Prevention had recorded 31,071 coronavirus deaths, including 4,141 "probable" virus deaths.

The US has the highest death toll in the world, followed by Italy with 22,170 dead although its population is just a fifth of that of the US.

Spain has recorded 19,130 deaths, followed by France with 17,920.

More than 667,800 coronavirus cases have been recorded in the United States, which has seen a record number of deaths over the past two days.

Meanwhile, President Donald Trump unveiled plans Thursday evening to reopen the US economy, allowing each state's governor "to take a phased deliberate approach to reopening their individual states".

Manila, Apr 13: The Asian Development Bank (ADB) on Monday tripled the size of its response to novel coronavirus disease (COVID-19) pandemic to 20 billion dollars and approved measures to streamline its operations for quicker and more flexible delivery of assistance.

The package expands ADB's 6.5 billion dollars initial response announced on March 18, adding 13.5 billion dollars in resources to help ADB's developing member countries counter the severe macroeconomic and health impacts caused by COVID-19.

The 20 billion dollar package includes about 2.5 billion dollars in concessional and grant resources.

"This pandemic threatens to severely set back economic, social, and development gains in Asia and the Pacific, reverse progress on poverty reduction and throw economies into recession," said ADB President Masatsugu Asakawa.

"Our expanded and comprehensive package of assistance, made possible with the strong support of our board, will be delivered more quickly, flexibly and forcefully to the governments and the private sector in our developing member countries to help them address the urgent challenges in tackling the pandemic and economic downturn," he said in a statement.

ADB's most recent assessment released on April 3 estimates the global impact of the pandemic at between 2.3 and 4.8 per cent of gross domestic product. Regional growth is forecast to decline from 5.2 per cent last year to 2.2 per cent in 2020.

The new package includes the establishment of a COVID-19 pandemic response option under ADB's countercyclical support facility.

Up to 13 billion dollars will be provided through this new option to help governments of developing member countries implement effective countercyclical expenditure programs to mitigate impacts of the COVID-19 pandemic, with a particular focus on the poor and the vulnerable.

Grant resources will continue to be deployed quickly for providing medical and personal protective equipment and supplies from expanded procurement sources.

Some 2 billion dollars from the 20 billion dollar package will be made available for the private sector. Loans and guarantees will be provided to financial institutions to rejuvenate trade and supply chains.

Enhanced microfinance loan and guarantee support and a facility to help liquidity-starved small and medium-sized enterprises, including those run by female entrepreneurs, will be implemented alongside direct financing of companies responding to or impacted by COVID-19.

The response package includes a number of adjustments to policies and business processes that will allow ADB to respond more rapidly and flexibly to the crisis. These include measures to streamline internal business processes, widen the eligibility and scope of various support facilities and make the terms and conditions of lending more tailored.

All support under the expanded package will be provided in close collaboration with international organisations, including the International Monetary Fund, World Bank Group, World Health Organisation, UNICEF, other UN agencies and the broader global community.