Business

03 April 2020; MEMO: Saudi Arabia yesterday called for an urgent meeting of the OPEC+ oil producers with the “aim of seeking a fair agreement that will restore the desired balance to the oil markets”, state-run Saudi Press Agency reported.

The agency said the Saudi invitation came after a phone call between US President Donald Trump and Crown Prince Mohammed Bin Salman.

03 April 2020; MEMO: American shale oil companies are calling for a number of measure to reprimand Saudi Arabia including denying the kingdom access to its oil refinery in the US, as part of an aggressive lobbying campaign against Riyadh.

Mumbai, Apr 3 (PTI) The rupee settled 53 paise lower at 76.13 (provisional) against the US dollar on Friday amid a significant rise in coronavirus cases in the country and weak domestic equities.

Forex traders said heavy selling in domestic equities dragged the local unit amid mounting fears of a coronavirus-led economic slowdown.

Ahmedabad, Apr 2 (PTI) The Gujarat government on Thursday warned the factory owners and other employers in the state that they will have to face a jail term of one year if they lay off any of their workers or staffers during the lockdown period, officials said.

A notification to this effect was issued on Thursday to safeguard 18 lakh factory workers, 25 lakh workers of registered contractors and over 12 lakh persons working in shops and other commercial establishments, Secretary in the Chief Minister's Office (CMO), Ashwani Kumar, said.

LONDON, April 3 (NNN-AGENCIES) — The British Government is warning of delays to the EU settlement scheme because of the coronavirus outbreak.

More than 3 million people have already been granted the right to live and work in the UK after June 2021, but an estimated 600,000 have not yet registered.

In a blog posted on its website, the Home Office says new applications will “take longer than usual” to process during what it describes as a “challenging time”.

02 April 2020; MEMO: Israel’s shattered economy is showing further signs of slowing down with unemployment rate hitting 25 per cent due to the coronavirus outbreak. The new figure marks a near eight per cent increase in under a week, taking the number of jobless Israelis to over a million for the first time in the country’s history.

Washington, Apr 2 (PTI) US President Donald Trump has proposed a massive USD 2 trillion infrastructure plan, along with several other measures like corporate deductibility for restaurants and entertainment facilities to stimulate the American economy ravaged by the coronavirus pandemic.

Trump's proposal comes days after he passed a USD 2.2 trillion stimulus package that gives USD 3,200 on an average to an American family of four and massive financial assistance to small and medium enterprises, big corporations and the country's travel and tourism industry.

United Nations, Apr 2 (PTI) The global economy could shrink by up to one per cent in 2020 due to the coronavirus pandemic, a reversal from the previous forecast of 2.5 per cent growth, the UN has said, warning that it may contract even further if restrictions on the economic activities are extended without adequate fiscal responses.

KUALA LUMPUR, April 2 (NNN-BERNAMA) —  A special cabinet committee has been established to develop strategic measures to safeguard Malaysia’s economy and labour market impacted by COVID-19 with the aim of striking a balance between the nation’s economic priorities and the effective enforcement of the Movement Control Order (MCO).

KANPUR: Though the vegetables' prices have been fixed, the vendors are making hay of the scary situation. 

As the residents are fearing to go out in pursuance of the lockdown norm, one or two or three sabziwallahs are entering into the premises of the building in Jajmau on Thursday. So, they easily buy vegetables just within their premises.