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Temporary layoffs reduce company costs, prop up economy
BRUSSELS: Temporary unemployment schemes operating across Europe could struggle to save the jobs of leisure and travel sector workers facing drawn-out or partial recoveries from the Covid-19 pandemic, even if they help industries that rebound quickly.
Jobless persons rose by 48.8% to 778,800 in April during MCO
KUALA LUMPUR: The number of unemployed persons spiked by 48.8% to 778,800 in April and the overall unemployment rate increased to 5% as the economy felt the full impact from the lockdown during the Movement Control Order (MCO).
Insight - Wall Street forges a new relationship to data in Coronavirus age
ALTERNATIVE data has been a buzzword on Wall Street for years. Never has demand been greater than during the coronavirus era
Trading ideas: Ancom, Nylex, Tex Cycle, NetX, Lambo, MISC, Econpile
KUALA LUMPUR: Stocks to watch on Thursday include Ancom Bhd, Ancom Logistics Bhd, Nylex (M) Bhd, MQ Technology Bhd, Tex Cycle Technology, NetX Holdings, Lambo Group Bhd and MISC Bhd, according to JF Apex Research.
Quick take: Econpile shares higher on newly secured contract
KUALA LUMPUR: Shares in Econpile Holdings Bhd rose higher in early trade Thursday on securing a new contract worth RM24.1mil.
Services sector revenue down 24% in Q2
KUALA LUMPUR: The services sector revenue recorded negative growth of 24% in the second quarter of 2020 to RM335.6bil as compared with the same quarter of the previous year, said the Statistics Department
S&P sees India GDP contracting by 9% due to Covid-19
KUALA LUMPUR: Rising Covid-19 coronavirus cases in India will keep private spending and investment lower for longer and S&P Global Ratings expects the economy to contract much sharper than forecast.
Lower consumer spending may affect earnings
Research house expects GDP to contract by 4.4% this year
