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Italy Economy to Shrink over 8% this Year

Italy's economy is set to shrink 8.3 percent this year as the coronavirus crisis takes its toll, according to a forecast Monday by the National Institute of Statistics.

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Virus Deaths Approach 400,000 as Oil Producers Extend Output Cuts

The global death toll from the coronavirus neared 400,000 on Sunday with fatalities accelerating in Latin America, as oil-producing countries agreed to extend output cuts to offset a collapse in prices caused by the pandemic.

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Syrian Pound Plummets as New U.S. Sanctions Loom

Syria's pound hit record lows on the black market Saturday trading at over 2,300 to the dollar, less than a third of its official value, traders said, ahead of new US sanctions.

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OPEC, Allies Meet to Discuss Output Cuts

OPEC and its allies are to meet via video conference Saturday to assess their current deal to slash production as oil prices tentatively recover on easing coronavirus lockdowns. 

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Asian Markets Mixed as Rally Stalls

The further easing of lockdown measures and signs that economies could be past the worst of the coronavirus crisis kept investors upbeat Thursday, but markets fluctuated on profit-taking and concerns over China-US tensions.

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U.S. Private Employment Falls 2.76 Million in May

Private companies shed another 2.76 million jobs in May following nearly 20 million job losses in April due to the coronavirus pandemic, according to data released Wednesday from payrolls firm ADP.

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Italy Thirsts for Tourists as Country Reopens to Europe

Italy reopened to travelers from Europe on Wednesday, three months after the country went into coronavirus lockdown, with all hopes pinned on reviving the key tourism industry as the summer season begins.

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Choueifat Industrialists Hold Important Meeting with Hoballah

The head and members of the Industrialists Association of Choueifat and Suburbs on Tuesday held an “important meeting” with Industry Minister Imad Hoballah and the Ministry's Director General Dany Jadoun, the Association said.

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Airline Angst as Spain to Sue over Virus Flight Chaos

Iberia protested Tuesday after the Spanish government pledged to sue 17 airlines for failing to inform travelers about their right to a refund for flights cancelled during the pandemic.

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Global Stocks Jump on Easing Coronavirus Crisis

World stock markets surged Tuesday on the back of an easing in both coronavirus lockdowns and China-U.S. tensions, dealers said.

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