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Saudi Aramco Q1 Profit Dives, Says Virus to Hit 2020 Results

Energy giant Saudi Aramco on Tuesday reported a 25 percent slump in first-quarter net profits due to low oil prices, and said the coronavirus crisis will dampen demand and earnings in the year ahead.

The world's largest listed firm said it posted a net profit of 62.5 billion riyals ($16.66 billion) in the first three months of the year, compared to $22.2 billion a year earlier.

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French Economic Activity Down 27% in April

French economic activity plunged 27 percent in April compared with its expected trajectory before the coronavirus pandemic, the Bank of France said Tuesday.

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Crisis Costing Swiss Economy $11-17 Billion per Month

Switzerland's central bank chief said in an interview published by Swiss media Sunday that the coronavirus crisis was costing the Swiss economy up to $17 billion each month.

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Pandemic Fuels Historic U.S. Job Losses, EU Wants Borders Kept Shut

The United States recorded its steepest job losses in history over the coronavirus pandemic as Europe moved to keep its borders shut for another month.

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IMF More Negative on Global Economic Projections

The head of the International Monetary Fund (IMF) said Friday that previous estimates for the world economy to contract by three percent this year were too optimistic. 

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Oil Set for Positive Finish to Week as Lockdowns Eased

Oil prices rose in Asian trade Friday and were set to end the week with strong gains on signs demand is returning as some governments ease tough coronavirus lockdowns.

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China, US Commit to Implement Trade Deal despite Virus Row

Chinese and US trade representatives agreed Friday to "create favourable conditions" for the phase one trade deal signed in January, officials said, despite recent tensions over the coronavirus pandemic.

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UK Economy to Slump 14% this Year on Virus, According to BoE

Britain's economic output is set to crash by 14 percent this year owing to the coronavirus, the Bank of England said Thursday as it left its interest rate at 0.1 percent.

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Virus Saps German Industrial Output by 9.2% in March

Industrial production in Germany fell by 9.2 percent month-on-month in March, official data showed Thursday, as Europe's top economy began to feel the effects of the coronavirus crisis.

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Bitcoin World Faces 'Halving': What's Happening?

Bitcoin miners, whose computer processors enable the running of the world's most popular virtual currency, will soon face an event that takes place every four years and alters the profitability of the hi-tech industry.

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