Energy giant Saudi Aramco on Tuesday reported a 25 percent slump in first-quarter net profits due to low oil prices, and said the coronavirus crisis will dampen demand and earnings in the year ahead.

The world's largest listed firm said it posted a net profit of 62.5 billion riyals ($16.66 billion) in the first three months of the year, compared to $22.2 billion a year earlier.

French economic activity plunged 27 percent in April compared with its expected trajectory before the coronavirus pandemic, the Bank of France said Tuesday.

Switzerland's central bank chief said in an interview published by Swiss media Sunday that the coronavirus crisis was costing the Swiss economy up to $17 billion each month.

The United States recorded its steepest job losses in history over the coronavirus pandemic as Europe moved to keep its borders shut for another month.

The head of the International Monetary Fund (IMF) said Friday that previous estimates for the world economy to contract by three percent this year were too optimistic. 

Oil prices rose in Asian trade Friday and were set to end the week with strong gains on signs demand is returning as some governments ease tough coronavirus lockdowns.

Chinese and US trade representatives agreed Friday to "create favourable conditions" for the phase one trade deal signed in January, officials said, despite recent tensions over the coronavirus pandemic.

Britain's economic output is set to crash by 14 percent this year owing to the coronavirus, the Bank of England said Thursday as it left its interest rate at 0.1 percent.

Industrial production in Germany fell by 9.2 percent month-on-month in March, official data showed Thursday, as Europe's top economy began to feel the effects of the coronavirus crisis.

Bitcoin miners, whose computer processors enable the running of the world's most popular virtual currency, will soon face an event that takes place every four years and alters the profitability of the hi-tech industry.