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China to give more support for businesses hit by COVID-19: Xi

Chinese President Xi Jinping, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, visits an industrial park, which produces high-end auto parts and molds, in Ningbo, east China’s Zhejiang Province, March 29, 2020. Xi on Sunday inspected the resumption of work and production in Zhejiang. Xi Jinping, general secretary of the ...

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Saudi to raise oil exports to record levels as price war rages

Saudi Arabia said on Monday it will raise its oil exports to a record 10.6 million barrels per day starting from May despite a global supply glut, escalating a price war with Russia. Oil prices are languishing at 17-year lows as the coronavirus pandemic threatens a painful global recession that could further sap demand. Saudi Arabia, the world’s top oil ...

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Brent oil dives over 7% to lowest since 2003

Oil prices slumped anew on Friday with Brent North Sea crude plumbing a 17-year low owing to massive oversupply as the coronavirus crisis paralyses global demand. Around 1435 GMT, Brent for May delivery was down 7.33 percent from Thursday, at $24.41 a barrel. West Texas Intermediate fell 5.97 percent to $21.25. Oil has tanked in recent weeks on the back ...

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Coronavirus: Record number of Americans file for unemployment

The number of Americans filing for unemployment has surged to a record high as the economy goes into lockdown due to the coronavirus pandemic. Nearly 3.3 million people registered to claim jobless benefits for the week ended 21 March, according to Department of Labor data.That is nearly five times more than the previous record of 695,000 set in 1982. The ...

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Coronavirus: Orange juice prices soar on global markets

The future price of orange juice has spiked by more than 20% this month as consumers look for healthy products during the coronavirus pandemic. While demand has risen, supply has been hit as producers struggle to transport goods due to transport restrictions. This has driven a rise in so-called “futures” prices of orange, which indicate its cost for delivery in ...

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Nike turns to digital sales during China shutdown

Sportswear firm Nike has seen online sales rise by more than 30% in China as it rides out its coronavirus store shutdowns. The US firm has shut the majority of its stores globally, but says 80% have now reopened in China. “We expect the next several weeks to be a challenging period,” said Nike chief executive John Donahoe, talking about ...

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Customers can add money to bKash from any Visa card seamlessly

Now customers can add money to bKash wallets from any Visa card free of charge. This seamless Visa-to-bKash Add Money service is aimed at enabling millions of customers to reload their bKash balance using Visa debit and credit cards issued by any bank of Bangladesh. Eastern Bank Ltd (EBL) is providing technological support for this integration between Visa and bKash. ...

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Buyers cancelled $ 1.48 billion orders: BGMEA chief

President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Dr Rubana Huq. President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Dr Rubana Huq has said buyers have so far cancelled orders worth US$ 1.48 billion following the outbreak of coronavirus. “We’re facing a dire situation. All the buyers from different places, countries and continents are temporary suspending the orders,” ...

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Coronavirus: UK supermarkets to recruit tens of thousands workers

Major supermarkets plan to create tens of thousands of extra jobs across Britain to help keep shops open and stocked during the novel coronavirus pandemic. As of 9am (0900GMT) on Saturday, 72,818 people have been tested in Britain, of which 67,800 were confirmed negative and 5,018 were confirmed positive. 233 patients in the country who tested positive for the virus ...

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30 days that brought the world to the brink of a depression

The novel coronavirus outbreak is raging in China, but fewer than 1,000 people have been infected outside the country. With the virus out of sight and mostly out of mind, the Dow Jones Industrial Average stands just shy of 30,000 points, driven by the longest US economic expansion in history. What investors couldn’t know is that over the next 30 ...

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