Business

KUWAIT, June 2 (NNN-KUNA) – The Kuwaiti government announced that, businesses, including banks, can start their activities as part of the country’s phased plan to reopen the economy.

The government assigned the Central Agency for Information Technology to establish a platform where citizens and residents can make appointment, before going to any government institutions, in order to facilitate social distancing and curb the spread of the virus, said Tareq Al-Mezrem, the government spokesman.

RIYADH, June 2 (NNN-SPA) – Saudi Arabia announced, on Monday, the pumping of 50 billion riyals (13.3 billion U.S. dollars) into the banking system, the Arabiya TV reported.

The Saudi Arabian Monetary Authority’s (SAMA’s) decision, comes, to manage the fallout from the coronavirus and the drop in oil prices.

The amount will boost credit facilities to the private sector, help banks amend restructure loans, without additional fees, and support private sector employment.

RAMALLAH, June 2 (NNN-WAFA) – Palestine accused Israel of attempting to take over the only industrial zone for Palestinians in East Jerusalem, after Israeli authorities ordered the demolition and eviction of nearly 200 private establishments in the area.

The Israeli authorities’ demolition orders in Wadi al-Joz neighbourhood of East Jerusalem will paralyse the only area where Palestinians own car repair workshops and commercial enterprises, said the Palestinian Ministry of Foreign Affairs, in a statement.

WASHINGTON, June 1 (Xinhua) -- The extraordinarily high unemployment rate in the United States is in large part due to the poor management of the COVID-19 pandemic by the federal government, a senior U.S. economist said on Monday.

"It was late to acknowledge the threat posed by the virus, and then ultimately ceded the bulk of the crisis management to state governments, which led to a patchwork response that was slow to get going," Mark Zandi, chief economist of Moody's Analytics, said in an analysis.

New Delhi, Jun 1 (PTI) The country's manufacturing sector activity recorded another sharp deterioration in business conditions during May as new orders placed with producers continued to fall after April's record contraction, leading firms to cut jobs at the quickest pace on record, a monthly survey said on Monday.

Jaipur, May 31 (PTI) The Rajasthan government on Sunday allowed government and private sector organsiations to function with full strength of their employees, while providing for continued closure of religious places, hotels and malls from June 1 during the latest phase of lockdown.

In its guidelines issued for the latest phase of lockdown till June 30, the state government also allowed private and commercial transport vehicle to carry passengers up to their full capacity, but no more.

SINGAPORE, June 1 (NNN-CNA) — Despite the COVID-19 outbreak, the Economic Development Board (EDB) has in the first four months of this year secured about S$13 billion in investment commitments for the “next few years”, Trade and Industry Minister Chan Chun Sing said. 

This “very good performance” means Singapore has exceeded the S$8 billion to S$10 billion which had been projected for the whole of 2020. 

KUALA LUMPUR, June 1 (NNN-BERNAMA) — Malaysian small and medium-sized enterprises (SMEs) should consider investing in the agricultural, tourism and services sectors in India’s northeastern states as the country is gradually opening up its economy in the wake of COVID-19 pandemic, says the co-chairman of the Asean-India Business Council (AIBC) Datuk Ramesh Kodammal.

CARACAS, June 1 (NNN-AGENCIES) — Two Iranian tankers that delivered fuel to Venezuela as part of a five-vessel flotilla have begun to sail back, according to Refinitiv Eikon, as the government of the South American nation prepares stations to begin charging for the gasoline.

The supply is meant to ease fuel shortages that have plagued the country. After three months of fuel rationing, Venezuelans began lining up on Saturday to wait for the Iranian gasoline to be sold at stations from Monday under a new system combining subsidies and internationally-indexed prices.

31 May 2020; MEMO: Egyptian hotels operating with a new reduced occupancy rate of 25 per cent to contain the spread of the novel coronavirus have almost reached full capacity, a tourism ministry official told Reuters today.