CNBC Asia

Many governments have announced large amounts of stimulus to support their respective economies, with some taking up more debt to fund those expenditure.

The International Monetary Fund warned that the global economy is set to see its worst financial crisis since the Great Depression.

South Korea heads to the polls on Wednesday for legistlative elections against the backdrop of the global coronavirus pandemic that has taken thousands of lives worldwide.

The measures were introduced after global markets sold off as investors scrambled for safety from the economic threat of the global coronavirus pandemic.

"We have found a way to secure financing. It was costly," Carnival CEO Arnold Donald said Tuesday.

"We're controlling the spread," Cuomo said at a press conference in Albany. "The worst can be over, and is over, unless we do something reckless."

The number of deaths is staggering but nonetheless shows that shuttering nonessential businesses and keeping New Yorkers home is helping to curb the Covid-19 outbreak, Gov. Andrew Cuomo said.

Johnson & Johnson aims to produce 600 million to 900 million doses of its potential coronavirus vaccine by April 2021 if human trials set to begin in September go as planned, J&J executives said Tuesday.

"For the first time, we're going to have a truly reliable major supply of testing," NYC Mayor Bill de Blasio said at a news conference.

New York Gov. Andrew Cuomo is holding his daily press conference on the Covid-19 outbreak, which has infected more than 196,140 across the state as of Tuesday morning.

On Monday, de Blasio said the city was having a "very good day" as the rate of new coronavirus cases and hospitalizations continued to fall.

The U.K. looks set to extend its lockdown measures into early or perhaps even late May while Germany also remains cautious, reporting over 2,000 new cases.

Even as the spread of the virus appears to be slowing in several hard-hit countries, including Italy, Spain and the U.S., the WHO on Monday warned against lifting restrictions meant to curb the spread of the virus too early.

Hong Kong's education chief is weighing the pros and cons of reopening schools and universities after weeks of closure due to the coronavirus outbreak.

China's yuan-denominated exports declined 3.5% year-on-year in March, Reuters reported Tuesday citing customs data. For the first quarter, exports dropped 11.4% from a year ago.

The Indian economy has come under pressure from the coronavirus pandemic at a time when growth was already slowing, said Neeraj Seth, BlackRock's head of Asian credit.

Hong Kong is fighting a "twin battle" of the coronavirus pandemic as well as saving its battered economy, but its recovery will be determined by when the world gets back on its feet, says the city's commerce secretary.

The sinking of a Vietnamese fishing boat by a Chinese surveillance vessel earlier this month brought into the spotlight Beijing's multi-year assertions in the South China Sea, in which it claims nearly the entire waterway.

Covid-19 has infected more than 1,912,900 million people around the world as of Monday, killing at least 118,966 people.

"This is clear evidence that our aggressive strategy to combat the virus is working and that Americans are following the guidelines," President Donald Trump said.