CNBC World News

China kept its benchmark lending rate steady for the third straight month on Monday, matching market expectations, amid signs that the world's second-largest economy is recovering from the shock coronavirus pandemic.

Piyush Gupta, CEO of Singaporean bank DBS, said many businesses may not survive when governments roll back measures that are currently keeping them afloat.

Housing sales in the country plummeted at the outset of the pandemic as China's economy shut down. But official data pointed to a recovery in transactions as the country reopened.

China is due to release its loan prime rate. A Reuters poll found that it is expected to keep its benchmark lending rate steady for the third straight month.

Yardeni Research's Edward Yardeni is getting cautious on stocks for the first time since the March 23 rebound.

Iranian President Hassan Rouhani said on Saturday that 25 million people may have been infected with the coronavirus in Iran.

Amusement parks, gyms and 10 other types of venues will remain closed for another seven days, while a requirement for restaurants to only provide takeaway after 6pm was extended.

Deutsche Bank estimates Kuwait's economy will contract by 7.8% this year, the biggest fall among Gulf states.

The real estate sector in Dubai has been sluggish for years, due to a chronic oversupply of homes coupled with weak economic growth, a problem now exacerbated by the coronavirus crisis.

"The coronavirus crisis has hit our economy hard, and it's hit our budget hard," Australia's Finance Minister Mathias Cormann told CNBC Sunday.

The World Bank and IMF have urged G20 leaders to extend an initiative allowing delayed debt repayments amid the pandemic.

Ross started working remotely as coronavirus began to spread in the United States. The former banker and private equity investor was working from his home in Florida in late March.

As of Saturday, the 7-day average has seen a 18.34% increase in new cases compared to one week ago.

Lewis, the son of Alabama sharecroppers, became a leader in the Freedom Riders fight against segregation and later a 17-term congressman from Georgia.

New York City has been cleared to enter the next phase of reopening on Monday, but indoor restaurants, bars, museums and malls will remain closed, Gov. Andrew Cuomo said Friday.

More than four months into the coronavirus pandemic, the financial damage wrought by the outbreak has yet to fully register.

The coronavirus has infected more than 13.83 million people around the world as of Thursday, killing at least 590,600 people.

Amazon posted its fifth straight day of losses Friday, making it the worst week for the stock since February and snapping its longest weekly winning streak in history.

San Francisco Mayor London Breed announced Friday that the city will pause its reopening plan "indefinitely" and will close indoor malls and non-essential offices as the coronavirus continues to spread throughout the state.

Sweden did not go into lockdown, instead issuing recommendations about social distancing and working from home while allowing many schools and businesses to stay open.