Saudi Arabia to foot worker wages

Riyadh: Saudi Arabia moved to avert large-scale job layoffs during the coronavirus pandemic by pledging to help struggling companies with wages, in perhaps the kingdom’s most significant measure so far to limit damage to the private sector. Instead of terminating contracts of Saudi citizens, business owners can request monthly compensation amounting to 60 per cent […]

Jobless rate ticks up in March, but much worse lies ahead for American workers

Washington: The US economy shed 701,000 jobs in March, driving the unemployment rate up to 4.4 per cent, as measures to fight a worsening coronavirus pandemic began taking their toll on Americans’ livelihoods. The losses ended the economy’s 113-month streak of job growth, but represented only the first signs of the unprecedented damage being inflicted […]

Asian stocks open higher after US gains on oil price spike

TOKYO: Tokyo stocks opened higher on Friday after four days of losses, supported by a cheaper yen and Wall Street gains on a spike in oil prices. The benchmark Nikkei index rose 1.22 percent or 218.05 points to 18,036.77 in early trade while the broader Topix index gained 1.19 percent or 15.76 points to 1,345.63. […]