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Africa’s cases above 1,000; presidents defy own travel bans

Africa’s cases above 1,000; presidents defy own travel bans

World
ABUJA, Nigeria -- Lockdowns have begun in Africa as coronavirus cases rise above 1,000, while Nigeria on Saturday announced it is closing airports to all incoming international flights for one month in the continent's most populous country. Rwanda said all unnecessary movements outside the home are banned for two weeks as of midnight except for essential services such as health care and shopping. The East African nation, which has 17 cases, told all public and private employees to work from home. Tunisia earlier imposed a lockdown as well. Meanwhile, two African heads of state appeared to defy their own travel restrictions to attend another president’s inauguration. Uganda, Eritrea and Angola announced their first cases, meaning 42 of Africa’s 54 countries are now affected. Congo and Ghan
Wages back above pre-economic crisis levels

Wages back above pre-economic crisis levels

Business
Average weekly wages in the UK have returned to pre-economic crisis levels for the first time since March 2008.Weekly pay reached £511 in the three months to December - the last time they were this high, after adjusting for inflation, was before the downturn.Excluding bonuses, earnings grew at an annual rate of 3.2% in the three-month period, official figures show.Employment rose by 336,000 to another record high of 32.93 million, while unemployment stayed at 1.29 million.The number of women in employment increased again - this time by 150,000 in the three months to December to a record high of 15.61 million. Myrto Miltiadou, of the ONS, said: "In real terms, regular earnings have finally risen above the level seen in ear
Markets slide on Iran tension as oil price spikes above $70

Markets slide on Iran tension as oil price spikes above $70

Business
Global stock markets have fallen further amid rising global tensions after the killing of a top Iranian general by the US - and a spike in the price of oil.The FTSE 100 was down by more than 80 points, or 1%, in early deals though it closed 0.6% - or 47 points - lower at 7575. The performance was cushioned by a boost for BP, up 2%.That was after the Iran tensions pushed the price of a barrel of Brent crude above $ 70 for the first time since September though the gains later petered out.British Airways owner International Airlines Group (IAG) and Ryanair were each off by about 4% though their values later closed 2.5% and 1.6% lower respectively. Advertisement Image: ...
Canada declines to raise defense spending above 2 percent NATO benchmark

Canada declines to raise defense spending above 2 percent NATO benchmark

Business
Dec. 2 (UPI) -- As leaders of NATO countries prepare to convene in London, Canada remains below the benchmark of two percent of GDP, NATO data indicate. Each NATO member nation agreed in 2014 to spend two percent of its gross domestic product on defense, but statistics released Friday indicate that Canada will spend 1.31 percent of its GDP on defense in 2019, a figure similar to that of 2018. The data places Canada 20th on the list. Nine countries -- the United States, Bulgaria, Greece, the United Kingdom, Estonia, Romania, Lithuania, Latvia and Poland -- currently meet or exceed the two percent level, the U.S. carrying the highest percentage of all 29 NATO members and Luxembourg with the lowest. U.S. President Donald Trump has been a frequent critic of allies underspending on defense, a...
Government mulls raising insurance cover on bank deposits to above Rs 1 lakh: Nirmala Sitharaman

Government mulls raising insurance cover on bank deposits to above Rs 1 lakh: Nirmala Sitharaman

Finance
NEW DELHI: Finance Minister Nirmala Sitharaman on Friday said the government will bring legislations on raising insurance cover on bank deposits from the current Rs 1 lakh and regulating multi-state cooperative banks amidst a crisis in PMC Bank affecting lakhs of depositors. These legislations will be brought during the Winter Session of Parliament starting Monday, the minister told reporters here. "Work is on and we shall go to the Cabinet for approval to introduce a legislation in winter session. The legislation will amend the necessary Acts and the laws to make sure that banking functions undertaken by cooperatives sector will be brought under the Banking Regulation Act for complying with prudential norms," she said. Unless the prudential norms are applied, many of the things that are e...