Bahrain to pay 50% of wages for private firms hit by coronavirus

Bahrain to pay 50% of wages for private firms hit by coronavirus
Doctors check a traveller in their designated residential area to check on residents who returned from Iran if anyone is infected with the novel coronavirus, at Isa Town Health Center, south of Manama, Bahrain, March 2, 2020. (Reuters)
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Updated 29 June 2020

Bahrain to pay 50% of wages for private firms hit by coronavirus

Bahrain to pay 50% of wages for private firms hit by coronavirus
  • The new payments would start in July and continue for a three-month period

DUBAI: Bahrain's government said on Monday it would pay 50% of salaries for private company workers in sectors that were hard-hit by the coronavirus pandemic, state news agency BNA reported.
The new payments would start in July and continue for a three-month period, the government said, adding that it would extend its assistance to Bahraini citizens by also paying electricity and water bills.
Bahrain had said it was spending $570 million on paying salaries to all 100,000 of its citizens employed in the private sector from April to June to help soften the economic blow from the coronavirus outbreak.


UK economy shrinks by 2.6% in November, first drop since April

UK economy shrinks by 2.6% in November, first drop since April
Updated 15 January 2021

UK economy shrinks by 2.6% in November, first drop since April

UK economy shrinks by 2.6% in November, first drop since April
  • The fall in gross domestic product much lower than the average forecast for a 5.7 percent drop

LONDON: Britain’s economy shrank by 2.6 percent in November, the first monthly fall in output since the depths of an initial COVID lockdown in April, as new restrictions were imposed on much of the country to slow the spread of the disease.
The fall in gross domestic product reported by the Office for National Statistics was much lower than the average forecast for a 5.7 percent drop in a Reuters poll of economists.
The Bank of England estimates Britain’s economy shrank by just over 1 percent over the final three months of 2020, and with a new lockdown in place since January the country is likely to have fallen into a double-dip recession.
The BoE ramped up its bond-buying program to almost 900 billion pounds in November and Governor Andrew Bailey said this week that it was too soon to say if further stimulus would be needed.