Workers, wearing face masks, rope a container ship at the port in Qingdao, Shandong province. Reuters
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.
China’s factory gate prices shrank for the first time in three years in July, stoking deflation worries and adding pressure on Beijing to deliver more stimulus as the economy sputters amid an intensifying trade war with the United States.
Some 898,822 workers lost their jobs since March 12 in Spain, social security data showed on Thursday, more than half of which are temporary workers. The number of people officially registered as unemployed in the country rose to 3.5 million in March, the highest level since April 2017.
The British flag carrier has massively reduced flights and warned it will need to cut jobs to survive the emergency as the battered aviation sector frantically seeks to take out costs.
US stocks joined a worldwide downdraft on Wednesday as more signs piled up of the economic and physical pain being caused by the coronavirus outbreak.
The Sharjah Economic Development Department, SEDD, lauded the package of incentives and decisions approved by the Government of Sharjah to support the government and private entities, as well as business sectors and individuals.