Economy – Page 92 – THE OVAL CIRCLE

Saudi Arabia books $29-BILLION deficit in Q2

Posted on July 31, 2020July 31, 2020By Editor

Saudi Arabia booked a deficit of $29 billion for the second quarter of the year because of the continued slump in oil prices and oil demand, which affected revenues. … Read More >Saudi Arabia books $29-BILLION deficit in Q2

Business

WORST DROP EVER for US economy as GDP crashes 33% due to Covid pandemic lockdowns

Posted on July 31, 2020July 31, 2020By Editor

The Bureau of Economic Analysis said on Thursday that the coronavirus pandemic triggered the sharpest contraction of the US economy ever in the second quarter this year, causing a historic plunge in consumer and business activity. … Read More >WORST DROP EVER for US economy as GDP crashes 33% due to Covid pandemic lockdowns

Russia

Taking from crooks to give to the old? Russian finance ministry to seize unexplained bank funds & transfer them to pension pot

Posted on July 29, 2020July 29, 2020By Editor

It’s not quite Robin Hood, but it’s close. Russia’s Ministry of Finance is planning to transfer the confiscated suspicious savings of Russian citizens to the country’s pension fund, according to newly proposed amendments. … Read More >Taking from crooks to give to the old? Russian finance ministry to seize unexplained bank funds & transfer them to pension pot

Business

UK economy won’t return to pre-Covid level until 2024

Posted on July 28, 2020July 28, 2020By Editor

Britain’s economic outlook for 2020 has been downgraded to an 11.5-percent contraction by leading economic forecaster EY ITEM Club. That’s worse than the eight-percent decline forecast by the EY in June. … Read More >UK economy won’t return to pre-Covid level until 2024

Business

Europe’s economy on path to outshine US after coronavirus crisis is over – report

Posted on July 27, 2020July 27, 2020By Editor

Europe is set to do better than the US not only in handling the Covid-19 outbreak, with a strikingly lower number of infections, but also when it comes to dealing with the economic fallout of the pandemic, bankers say. … Read More >Europe’s economy on path to outshine US after coronavirus crisis is over – report

Op-ed

US’ Cold War with China in a global economy puts allies in crossfire & will cause SEVERE damage

Posted on July 27, 2020July 27, 2020By Editor

US Secretary of State Mike Pompeo is calling for “an alliance of democracies” to confront China. It amounts to a new Cold War in which nations are being forced to side either with Washington or Beijing. … Read More >US’ Cold War with China in a global economy puts allies in crossfire & will cause SEVERE damage

Business

Russia has enough reserves to cope with Covid-19 crisis – PM Mishustin

Posted on July 24, 2020July 24, 2020By Editor

The Russian government’s revenues and vast reserves have enabled the country to remain stable and deal with the coronavirus pandemic, Prime Minister Mikhail Mishustin said on Wednesday … Read More >Russia has enough reserves to cope with Covid-19 crisis – PM Mishustin

Business

US should approve more stimulus quickly before economy comes ‘CRASHING DOWN,’ market analyst tells Boom Bust

Posted on July 22, 2020July 22, 2020By Editor

The European Union on Tuesday finally agreed the historic €750-billion Covid-19 aid package. Meanwhile, in the United States the same measures are set to expire and negotiations are underway on a new stimulus package. … Read More >US should approve more stimulus quickly before economy comes ‘CRASHING DOWN,’ market analyst tells Boom Bust

Business

UK jobs market faces ‘REAL BLOODBATH’ with most manufacturers planning to lay off workers

Posted on July 21, 2020July 21, 2020By Editor

A new survey by British manufacturers’ organization Make UK has shown that the number of companies planning to make redundancies in the next six months has risen to 53 percent. … Read More >UK jobs market faces ‘REAL BLOODBATH’ with most manufacturers planning to lay off workers

Business

Chinese consumer sector in ‘reasonably good shape’ despite disappointing retail data – JP Morgan

Posted on July 19, 2020July 19, 2020By Editor

Slowing retail sales does not mean lack of recovery for the Chinese economy, a JP Morgan strategist believes, adding that the consumer sector may bounce back in the coming months. … Read More >Chinese consumer sector in ‘reasonably good shape’ despite disappointing retail data – JP Morgan

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