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13 June 2020; MEMO: Iran called on Friday for South Korea to release billions of dollars in funds frozen because of US sanctions, Reuters reports.

“South Korea’s ban on Iran’s use of its central bank resources to buy basic goods, medicine and humanitarian items is in no way acceptable, and we expect the South Korean government to lift this restriction as soon as possible,” President Hassan Rouhani said, in remarks carried by state news agency IRNA.

New Delhi, Jun 13 (PTI) Petrol price on Saturday was hiked by 59 paise per litre and diesel by 58 paise as oil companies for the seventh day in a row adjusted retail rates in line with costs since ending an 82-day hiatus in rate revision.

Petrol price in Delhi was hiked to Rs 75.16 per litre from Rs 74.57, while diesel rates were increased to Rs 73.39 a litre from Rs 72.81, according to a price notification of state oil marketing companies.

12 June 2020; MEMO: Lebanon’s Prime Minister Hassan Diab called an emergency cabinet session this morning after a night of escalating protests over the dire economic situation and currency collapse. According to Naharnet, Diab cancelled all appointments to hold the meeting to discuss the financial crisis.

New Delhi, Jun 12 (PTI) The Supreme Court on Friday directed the Centre and states not to take any coercive action till July end against private companies, which have failed to pay full wages to their employees during the coronavirus-induced lockdown period.

A bench of Justices Ashok Bhushan, Sanjay Kishan Kaul and M R Shah said industries and employees need each other and they should sit together to arrive at a settlement on the issue of payment of wages.

London, Jun 12 (AP/PTI) Official figures show that the British economy shrank by a colossal 20.4% in April, the first full month that the country was in its coronavirus lockdown.

The Office for National Statistics said Friday that all areas of the economy were hit, in particular pubs, education, health and car sales.

Jonathan Athow, deputy national statistician for economic statistics, said April's fall is the biggest the U.K. has ever seen, and almost 10 times larger than the steepest pre-COVID-19 fall. April's decline follows a 5.8% contraction in March.

Mumbai, Jun 12 (PTI) The rupee depreciated 31 paise to 76.10 against the US dollar in opening trade on Friday as strengthening US dollar, weak domestic equities and sustained foreign fund outflows weighed on investor sentiment.

Forex traders said risk appetite has waned and there is growing concern about a resurgence of COVID-19 infections.

The rupee opened weak at 76.10 at the interbank forex market, down 31 paise over its last close.

It had settled at 75.79 against the US dollar on Thursday.

Washington, Jun 12 (PTI) US President Donald Trump is considering suspending a number of employment visas including the H-1B, most sought-after among Indian IT professionals, in view of the massive unemployment in America due to the coronavirus pandemic, according to a media report.

The proposed suspension could extend into the government's new fiscal year beginning October 1, when many new visas are issued, The Wall Street Journal reported on Thursday, quoting unnamed administration officials.

LONDON, June 12 (NNN-AGENCIES) — British Airways is selling some of its multi-million-pound art collection to raise cash to help it through the coronavirus pandemic.

The collection includes art by Damien Hirst, Bridget Riley and Peter Doig, with one work believed to have been valued at more than £1m.

It is understood at least 10 pieces have been identified for sale, although exactly which ones is unclear.

BA has seen a collapse in air travel and is set to cut thousands of jobs.

BEIJING, June 12 (NNN-AGENCIES) — China and the United States should resume timely communication on trade and other issues, an adviser to the Chinese cabinet said, stressing that the world’s two biggest economies are too intertwined to be decoupled.

The coronavirus pandemic has worsened already poor relations between Beijing and Washington, with accusations from the Trump administration of a Chinese cover-up and delayed release of information about the outbreak.

CAIRO, June 12 (NNN-AGENCIES) — Egypt will allow scheduled international flights and foreign tourists to resorts that have been least affected by the coronavirus starting from July 1, the cabinet said.

Egypt suspended regular international flights in March and shut down restaurants, hotels, and cafes.

Airports remain closed to all but domestic and repatriation flights, but hotels were last month allowed to reopen for domestic tourists at reduced capacity if they met strict health protocols.