Ship and containers are shown at the port of Los Angeles. Reuters / File
Japan’s government slashed its economic growth forecast for this year largely due to weaker exports, in a sign the protracted US-China trade war is taking a bigger toll on the world’s third-largest economy.
World stocks held near two-month lows on Tuesday as slightly more optimistic comments from US and Chinese officials on trade brought some comfort, a day after equities suffered their worst selloff so far this year.
Japan’s exports likely fell for an eighth straight month in July, a Reuters poll showed on Friday, as a protracted US-China trade war and weak global demand hurt shipments from the world’s third-largest economy.
Automobili Lamborghini is converting departments of its super sports car production plant in Italy’s Sant’Agata Bolognese in order to produce surgical masks and protective plexiglass shields.
Alphabet’s Google published reports for 131 countries showing whether visits to shops, parks and workplaces dropped in March, when many governments issued stay-at-home orders to rein in the spread of the novel coronavirus pandemic.
For the second week in a row the U.S has recorded high jobless claims, increasing the fears of economic damage. The fear has pushed investors towards Gold and the price has jumped over 1% on Thursday.
Dubai Economy issued fines to nine pharmacies and two pharmaceuticals suppliers for inflating the prices of face masks and trying to take undue advantage of the high demand for hygiene essentials following the nationwide alert against the Covid-19 pandemic.