Thu, 04 Jun 2020

LOS ANGELES -- Los Angeles County officials said Wednesday that the local economy had been devastated by the COVID-19 pandemic and more than 1 million unemployment claims have been made so far.

Speaking at her daily briefing, Los Angeles County Supervisor Kathryn Barger cited data from the Los Angeles Economic Development Corporation, saying among the over 1 million layoffs, over 75 percent earned an average annual salary of less than 50,000 U.S. dollars a year. (LA-COVID-19-Unemployment)

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TOKYO -- Tokyo stocks opened higher Thursday, with market sentiment lifted by U.S. shares advancing overnight, with support also coming from hopes for the full reopening of the economy here.

In the opening minutes after the morning bell, the 225-issue Nikkei Stock Average gained 127.14 points, or 0.62 percent, from Wednesday to 20,722.29. (Japan-Stocks-Opening)

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NAIROBI -- The World Bank announced on Wednesday that it had approved 107 billion shillings (1 billion U.S. dollars) for Kenya to address the COVID-19 fiscal financing gap, an official said.

The Bank said the fund is for budget support operation, which helps close the fiscal financing gap, while supports reforms that help advance the government's inclusive growth agenda, including affordable housing and support to farmers' incomes. (Kenya-COVID-19-Economy)

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ATHENS -- Greek Prime Minister Kyriakos Mitsotakis outlined on Wednesday the government's plan to support the economy, labor, and the tourism sector affected by the novel coronavirus pandemic and the nationwide lockdown imposed for six weeks in the country.

During a televised address to the nation, he congratulated the Greek people for the maturity and discipline they showed to help control the spread of the virus and protect public health, before unlocking the government's program to support households and businesses. (Greece-COVID-19-Recovery Plan)

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