Economy – Page 90 – THE OVAL CIRCLE

‘Deepest recession of our lifetime’: Coronavirus brings Australia’s record economic growth to an end

Posted on September 3, 2020September 3, 2020By Editor

Australia has become the latest country to officially enter recession – its first in almost 30 years – as the coronavirus crisis continues to wreak havoc around the globe. … Read More >‘Deepest recession of our lifetime’: Coronavirus brings Australia’s record economic growth to an end

Business

Rising export sales push China’s manufacturing activity to near 10-year highs

Posted on September 2, 2020September 2, 2020By Editor

China’s manufacturing sector expanded again last month at the fastest pace since 2011 thanks to sharp increases in both output and new orders, and a boost in export sales, unseen since last year. … Read More >Rising export sales push China’s manufacturing activity to near 10-year highs

Business

Worst of coronavirus impact on Russia’s economy over – Putin

Posted on August 28, 2020August 28, 2020By Editor

Russian President Vladimir Putin says the country has already passed the peak of the economic problems caused by the Covid-19 pandemic, paving the way for economic recovery next year. … Read More >Worst of coronavirus impact on Russia’s economy over – Putin

Germany’s economy hit by steepest decline on record

Posted on August 26, 2020August 26, 2020By Editor

The Covid-19 outbreak has led to a record contraction for Europe’s largest economy. Germany’s gross domestic product (GDP) shrank by 11.3 percent in the second quarter compared to the same period last year. … Read More >Germany’s economy hit by steepest decline on record

80 percent of low-income UK families worse off amid lockdown-induced economic nosedive – survey

Posted on August 26, 2020August 26, 2020By Editor

The economic paralysis caused by the UK’s coronavirus lockdown has squeezed hard-up households, a new survey found, with most respondents saying that it’s become more difficult to put food on the table. … Read More >80 percent of low-income UK families worse off amid lockdown-induced economic nosedive – survey

Business

Kuwait is running out of money to pay public salaries

Posted on August 24, 2020August 24, 2020By Editor

Kuwait is running out of money for the salaries of public servants and will have no money to cover these after November, the country’s finance minister told parliament. … Read More >Kuwait is running out of money to pay public salaries

Business

‘Eurozone at crossroads’ as economic recovery stalls on Covid-19 growth

Posted on August 22, 2020August 22, 2020By Editor

A new survey by the research firm IHS Markit showed that the European economy’s recovery from the coronavirus recession stalled this month, as some earlier pandemic-related restrictions have been reinstated. … Read More >‘Eurozone at crossroads’ as economic recovery stalls on Covid-19 growth

World

Abandoning Union State agreement with Russia would cost Belarus 25% of GDP, Lukashenko’s financial advisor warns opposition

Posted on August 20, 2020August 20, 2020By Editor

A key aide to Belarus’s embattled President Lukashenko has warned opposition members to think again about any idea of withdrawing from the ‘Union State’ treaty with Moscow. Valery Belsky says it would collapse living standards. … Read More >Abandoning Union State agreement with Russia would cost Belarus 25% of GDP, Lukashenko’s financial advisor warns opposition

Russia

As Covid-19 economic pain bites, Russia loses coveted status of having more cash on hand than it owes in liabilities

Posted on August 15, 2020August 15, 2020By Editor

If you think Covid-19 has only affected the pocket of Joe Public, think again. With high spending and dwindling national assets, the Russian government now owes more money than the sum total of reserves in the country’s coffers. … Read More >As Covid-19 economic pain bites, Russia loses coveted status of having more cash on hand than it owes in liabilities

Business

US weekly jobless claims fall below 1 million for first time since mid-March

Posted on August 15, 2020August 15, 2020By Editor

The US Labor Department said on Thursday that another 963,000 Americans filed for first-time unemployment benefits last week on a seasonally adjusted basis. It’s the first time in five months that the number is below a million. … Read More >US weekly jobless claims fall below 1 million for first time since mid-March