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Archive

World

Thursday, January 28, 2021

Russia's unemployment rate at 5.9pc in 2020, says labour minister
Europe

Russia's unemployment rate at 5.9pc in 2020, says labour minister

  • Unemployment peaked in August, Kotyakov said, when Russia's economy was still reeling from an oil price crash and COVID-19 lockdown measures.
  • President Vladimir Putin has long promised to raise real disposable incomes, one of Russia's most socially sensitive issues.
Published 28 Jan, 2021 09:46pm
Rare Botticelli portrait sells for $92 million at NY auction
USA

Rare Botticelli portrait sells for $92 million at NY auction

  • The $92.18 million price at the auction, conducted by bidders on the phone and online, included a buyer's premium.
  • There are a number of artists that ... are Olympian really in their genius. And Botticelli is one of those,
Published 28 Jan, 2021 09:37pm
Brazil unemployment rate falls further to 14.1pc as job growth jumps
USA

Brazil unemployment rate falls further to 14.1pc as job growth jumps

  • The unemployment rate was down from 14.3% in the three months to October, statistics agency IBGE said, slipping further back from the record 14.6% in the three months to September.
  • The median forecast in a Reuters poll of economists was for an unemployment rate of 14.0%. It ended 2019 at 11.0%.
Published 28 Jan, 2021 08:52pm
Senegal confirms presence of UK coronavirus variant
Africa

Senegal confirms presence of UK coronavirus variant

  • British scientists say the UK variant, known as B.1.1.7, may be up to 70% more transmissible and also more lethal - with a mortality risk around 30% higher.
  • Due to the fact that these variants are transmitted more rapidly, which could explain the speed of spread of the disease in some countries.
Published 28 Jan, 2021 08:48pm
Kenya's economy shrinks in Q3 2020 as COVID hits tourism
Africa

Kenya's economy shrinks in Q3 2020 as COVID hits tourism

  • The sector includes tourism, which has been greatly affected by a drop in visitor arrivals due to COVID-19 restrictions.
  • In early December, the tourism ministry said the sector had lost 110 billion Kenyan shillings ($999.55 million) in revenue between January and October.
Published 28 Jan, 2021 07:21pm
British government COVID loan guarantees exceed 70bn pounds
Europe

British government COVID loan guarantees exceed 70bn pounds

  • Lending under the Bounce Back Loan Scheme for small businesses rose to 44.74 billion pounds as of Jan. 24 from 43.54 billion pounds in mid December.
  • Including a third scheme for large companies, total lending rose to 70.72 billion pounds from 68.15 billion pounds.
Published 28 Jan, 2021 07:09pm
UK sees sharp fall in spending, more furlough under new lockdown
Europe

UK sees sharp fall in spending, more furlough under new lockdown

  • For a second week running a new official data series showed spending on credit and debit cards was 35% below its level in February 2020, at the start of the pandemic.
  • Most economists think Britain's economy will shrink in the first quarter of this year due to the lockdown and disruption from new post-Brexit trading arrangements.
Published 28 Jan, 2021 06:58pm
German cartel office extends probe of ties between Facebook and Oculus
Europe

German cartel office extends probe of ties between Facebook and Oculus

  • An ecosystem which extends across various markets - an almost unchallengeable position of economic power - is particularly characteristic in this respect.
  • In view of Facebook's strong market presence with the eponymous social network, WhatsApp and Instagram such a position may be deemed to exist.
Published 28 Jan, 2021 06:56pm
EU snubs UK envoy amid spat over diplomatic status
Europe

EU snubs UK envoy amid spat over diplomatic status

  • The official, who declined to be named, said the postponement was due to a lack of clarity about the diplomatic status of EU representatives in Britain.
  • A British government source declined to comment on the postponement of Croisdale-Appleby's meeting and said the diplomatic status issue remained subject to negotiation.
Published 28 Jan, 2021 06:49pm
Philippines GDP shrinks 8.3pc y/y in Q4
South Asia

Philippines GDP shrinks 8.3pc y/y in Q4

  • The gross domestic product shrank 8.3% in the December quarter from a year earlier, the statistics agency said.
  • The economy to shrink 8.5% after a revised 11.4% fall year-on-year in the third quarter.
Published 28 Jan, 2021 06:39pm
Ukraine parliament votes to speed up vaccine registrations
Europe

Ukraine parliament votes to speed up vaccine registrations

  • The government has said it expects to receive 100,000 to 200,000 doses of vaccines from Pfizer.
  • Thursday's vote was on a first reading of the legislative amendments and a second reading will be required for them to take effect.
Published 28 Jan, 2021 06:23pm
Hungary extends lockdown measures until March 1
Europe

Hungary extends lockdown measures until March 1

  • Current lockdown measures, including a night-time curfew and the closure of shops and restaurants, had been due to expire on Feb. 1.
  • Gergely Gulyas also told a briefing that the government would ask parliament to extend emergency government powers by 90 days.
Published 28 Jan, 2021 06:21pm
UK credit and debit card spending 35pc below pre-COVID level
Europe

UK credit and debit card spending 35pc below pre-COVID level

  • The ONS released the data for the first time last week. The numbers are based on payment figures from the Bank of England and are not seasonally adjusted.
  • Separate ONS survey data showed that 17% of British workers were furloughed in the period Dec. 28 to Jan. 10, up from 14% in the previous two-week period.
Published 28 Jan, 2021 06:17pm
Britain wants the vaccines it has ordered, minister says
Europe

Britain wants the vaccines it has ordered, minister says

  • "I think we need to make sure that the vaccine supply that has been bought and paid for, procured for those in the UK, is delivered," Gove told LBC Radio.
  • "But of course, we're always going to work with our friends and neighbours, we have to make sure that we can do everything we can to help them."
Published 28 Jan, 2021 06:13pm
Turkish economy slowing after strong Q4
Europe

Turkish economy slowing after strong Q4

  • In the bank's quarterly inflation update, broadcast online, Agbal said the overall recovery in the second half of last year improved employment in the wake of the first coronavirus wave earlier in 2020.
  • Since November, the bank under new chief Agbal has hiked its key interest rate to 17% from 10.25%.
Published 28 Jan, 2021 06:11pm
Turkey to keep policy tight until 5pc inflation target hit
Europe

Turkey to keep policy tight until 5pc inflation target hit

  • Speaking at an online presentation of the bank's quarterly inflation report, Agbal also said it was too early to ease policy.
  • Annual inflation rose in December to 14.6%, but Agbal stood by the bank's forecast that it would fall to 9.4% this year.
Published 28 Jan, 2021 06:08pm
Spain's unemployment falls to 16.13pc in Q4
Europe

Spain's unemployment falls to 16.13pc in Q4

  • As the country's economic activity remained hindered by restrictions seeking to curb the coronavirus pandemic.
  • Economists polled by Reuters had forecast Spain's unemployment rate would reach 16.6%.
Published 28 Jan, 2021 06:04pm