News Archives for World - 2020-07-10

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World

Canada unemployment drops in June, nearly 1mn jobs created

The economic reboot generated 953,000 jobs last month, nearly double the estimates by analysts, who had expected on average about 550,000 new jobs.

Published 10 Jul, 2020 11:59pm

World

Coronavirus can still be brought under control: WHO

"There are many, many examples from around the world," said Tedros, that even if the COVID-19 outbreak is "very intense, it can still be brought back under control".

Published 10 Jul, 2020 11:50pm

Europe

Turkey's Erdogan says Hagia Sophia becomes mosque after court ruling

Sixth-century building was church for 900 years, mosque for 500.
Secular state under Ataturk ordered 1934 conversion to museum.
Supporters of conversion underline Turkey's Muslim identity.

Published 10 Jul, 2020 09:00pm

Middle East

Lebanon holds meeting with IMF, more talks next week

The talks have been bogged down by a row over the scale of financial losses that has embroiled the government.
Finance Minister Ghazi Wazni said last week the talks were on hold pending the start of economic reforms and agreement on the losses.

Published 10 Jul, 2020 08:50pm

Middle East

Hundreds gather for funeral of Palestinian shot by Israeli troops

Palestinian officials dismissed the report and said the man had been walking with friends when he was shot dead.
Tensions have been high in the West Bank in recent weeks as Israel weighs a plan to annex part of the territory that Palestinians seek for a future state.

Published 10 Jul, 2020 08:23pm

Europe

UK economy to slump over 10pc, debts to surge: Moody's

Moody's said the UK government's latest 30 billion pound ($37.9 billion) stimulus package, announced this week.
"The UK's public debt ratio will likely rise by 24 percentage points of GDP or more relative to 2019 levels,"

Published 10 Jul, 2020 08:07pm

USA

Brazil says June inflation up 0.26pc from previous month

In the 12 months to June, Brazil recorded 2.13% inflation, roughly in line with a Reuters poll of economists which had predicted prices would increase by 2.16%.
Annual inflation is well below the central bank's official 2020 target of 4.0%, even allowing for the margin of 1.5 percentage point allowed on either side of that figure.

Published 10 Jul, 2020 07:47pm

USA

Canada adds 952,900 jobs in June on COVID-19 reopenings

"It's a pleasant high-side surprise," Doug Porter, chief economist at BMO Capital Markets. "It's a big step in the right direction."
Employment in the goods producing sector rose by 158,600, while the services sector gained a record 794,400 positions.

Published 10 Jul, 2020 07:36pm

Africa

Nigeria suspends anti-graft chief during investigation into agency

President Muhammadu Buhari has approved the immediate suspension of Ibrahim Magu as Acting Chairman of the Economic and Financial Crimes Commission.
EFCC operations director Mohammed Umar would be placed in charge pending the outcome of Magu's case.

Published 10 Jul, 2020 06:53pm

South Asia

China rejects new US invite to join nuclear talks

President Donald Trump's administration has demanded that China take part in talks on a successor to the New START treaty.
Beijing said in response that it would only join the talks if the US reduced its arsenal to match China's much smaller nuclear deterrent,

Published 10 Jul, 2020 06:51pm

World

IMF warns cutting spending too soon could derail recovery

Government spending "will need to remain supportive and flexible until a safe and durable exit from the crisis is secured.
The health crisis and the business shutdowns to contain the spread of COVID-19 demanded "a massive fiscal response" of close to $11 trillion to help support households and prevent bankruptcies."

Published 10 Jul, 2020 06:40pm

World

Netherlands takes Russia to European rights court over MH17 downing

Achieving justice for the 298 victims of the downing of flight MH17 is and will remain the government's highest priority.
Prosecutors have charged four people -- Russians Igor Girkin, Sergei Dubinskiy and Oleg Pulatov, and Ukrainian Leonid Kharchenko -- with murder.

Published 10 Jul, 2020 06:08pm

Europe

EU's Michel seeks please-all recovery plan ahead of tense summit

Michel lowers overall budget to placate thrifty northerners.
COVID-19 pandemic latest challenge for EU, some say existential.

Published 10 Jul, 2020 05:13pm

World

Long lines as Singaporeans in masks vote during pandemic

The ruling People’s Action Party is expected to carry Prime Minister Lee Hsien Loong to another comfortable victory.

Published 10 Jul, 2020 10:32am

World

Ireland's Paschal Donohoe voted new head of the Eurogroup

BRUSSELS: Irish finance minister Paschal Donohoe was picked as the new president of the Eurogroup on Thursday, which...