Tue, 04 Aug 2020

WASHINGTON -- The Congressional Budget Office (CBO) said Thursday that U.S. unemployment rate in the fourth quarter of 2030 could be 4.4 percent, still above the historically low of 3.5 percent the country experienced before the COVID-19 outbreak.

In a 10-year economic outlook report, the CBO projected unemployment rate to fall to 10.5 percent in the fourth quarter this year, and then to 7.6 percent in the fourth quarter of 2021. (US-Unemployment)

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DUBLIN -- Irish tourism sector has suffered a loss of one billion euros (about 1.2 billion U.S. dollars) since the outbreak of the COVID-19 pandemic in the country, said a senior official here on Thursday.

Paul Kelly, CEO of Failte Ireland or Ireland's National Tourism Development Authority, told a special committee of the country's parliament that the tourism sector was hit first, hit hardest and will take the longest to recover from the COVID-19 crisis, local media RTE reported. (Ireland-Tourism-COVID-19)

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TOKYO -- Tokyo stocks ended higher Friday as upbeat U.S. jobs data eased fears over the global economic recovery from the pandemic, while chip-related issues rallying added momentum, although concerns remained over a resurgence of COVID-19 cases in the capital.

The 225-issue Nikkei Stock Average gained 160.52 points, or 0.72 percent, from Thursday to close the day at 22,306.48. (Japan-Stocks)

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RIYADH -- Saudi Arabia approved on Thursday additional measures to reduce the economic impacts of COVID-19.

Economy and Planning Minister Mohammed Al-Jadaan said that the initiative covering the salaries of the Saudis working in the private sector has been extended, the Saudi Press Agency reported. (Saudi Arabia-COVID-19-Economy)

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