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TOKYO, Japan (AFP) — Confidence among Japan’s biggest manufacturers plunged to the worst level since 2009, a key survey showed Wednesday as the coronavirus pandemic hits global demand and disrupts production. The Bank of Japan’s June Tankan business survey — a quarterly poll of about 10,000 companies — showed a reading of minus 34 among major manufacturers, the lowest level since June 2009 when the global financial crisis hit the world’s third-largest economy. The shock […]
TOKYO, Japan (AFP) — Japan’s unemployment rate rose to 2.9 percent in May, official data showed Tuesday, the third consecutive monthly rise as the coronavirus pandemic takes its toll on the world’s number-three economy. The 0.3-percentage-point rise from April suggests Japan’s first recession since 2015 is beginning to have an impact on the labour market. Another closely watched indicator showed there were 120 jobs available for every 100 jobseekers, compared to 132 jobs in April […]
CARACAS, Venezuela (AFP) — Venezuela President Nicolas Maduro on Monday gave the head of the European Union mission in Caracas, Isabel Brilhante Pedrosa, 72 hours to leave the country after the bloc announced sanctions against 11 Venezuelan officials. “Who are they to try to impose themselves with threats?” said Maduro. “We will sort it out in 72 hours… she will be given a plane to leave, but we will arrange our things with the European […]
WASHINGTON, United States (AFP) — Another 1.48 million Americans filed new claims for unemployment benefits last week, the Labor Department said Thursday, a worse-than-expected figure that showed the continuing potency of the coronavirus pandemic. The new claims were a decrease of only 60,000 from the week prior and brought the total since the business shutdowns began in mid-March to more than 47.2 million. Adding to the toll was the 728,120 people applying for benefits last […]
HARARE, Zimbabwe (AFP) — Zimbabwe on Wednesday announced a 150 percent rise in the price of fuel following the launch of a forex auction system which eroded the value of the local currency. The price of a litre of diesel jumped 152 percent to ZW$62.77 ($1.12) from ZW$24.93 while petrol shot up 147 percent to ZW$71.62, the country’s Energy Regulatory Authority said in a notice. The central bank re-introduced forex auctioning on Tuesday, the first […]
WASHINGTON, United States (AFP) — US President Donald Trump will prolong a ban on US employment permits to year-end and broaden it to include H-1B visas used widely in the tech industry, the White House said Monday. A senior administration official told journalists that the move would free up 525,000 jobs, making a dent in the high unemployment rate caused by the coronavirus pandemic. “President Trump is focused on getting Americans back to work as […]
PARIS, France (AFP) — Nokia plans to eliminate 1,233 jobs at its Alcatel-Lucent subsidiary in France, slashing its workforce in the country by a third as it grapples with intense competition in the telecoms equipment market amid the launch of 5G networks, the company and unions said Monday. It is the fourth round of layoffs at hardware manufacturer Alcatel-Lucent in the four years since it was bought by Nokia in 2016, and the biggest by […]
by Sarah Stewart and Omar Hasan DUBAI, United Arab Emirates (AFP) — The giant Dubai-based ports operator DP World is “preparing for the worst” in the months ahead, as coronavirus inflicts the heaviest blow on global trade since World War II. However, the firm which runs port and logistics operations in 54 countries is still hungry for revenue-generating acquisitions, its chairman Sultan Ahmed bin Sulayem told AFP in an interview. Already one of the most […]
WASHINGTON, United States (AFP) — Global economic growth could rebound next year — but the number of people living in extreme poverty is expected to remain unchanged after a huge surge this year due to the coronavirus pandemic, the World Bank warned Tuesday. The projection came after the Washington-based development lender said Monday the pandemic could drive between 70 and 100 million people into extreme poverty in 2020 as the global economy faces its worst […]
TOKYO, Japan (AFP) — Japanese growth figures were better than initially feared in the first quarter, according to official data published on Monday, but the world’s third-top economy was still mired deep in recession. Gross domestic product contracted by 0.6 percent in the January-March period compared to the previous quarter. Authorities had initially reported a 0.9-percent contraction. Economists had expected the revision, with the market forecasting a 0.5-percent contraction. The figures confirmed that Japan was […]
by Dmitry ZAKS Agence France Presse LONDON, United Kingdom (AFP) — The UK government said Sunday it will reopen places of worship for individual prayer on June 15 as it reportedly looks to speed up easing measures in order to save jobs. Prime Minister Boris Johnson’s office said services and worship groups will still be banned for the time being due to concern that the new coronavirus spreads more quickly in enclosed spaces. “People […]
MOSCOW, Russia (AFP) — Russia plans to spend about $72 billion (65 billion euro) on a plan to restore the economy following the coronavirus shutdown, Prime Minister Mikhail Mishustin said Tuesday. The program to boost employment, incomes and economic growth “contains over 500 measures, its cost over two years will be about five trillion rubles,” Mishustin told President Vladimir Putin in a televised meeting. Putin described the plan as a “foundation” for repairing the economy […]
