Developing countries unlock key industries to safeguard earnings and jobs

Container ships wait to load and offload goods in port during a 21-day nationwide lockdown aimed at limiting the spread of coronavirus disease in Cape Town, South Africa, April 17, 2020. REUTERS/Mike Hutchings

Unlike wealthier economies, developing countries cannot afford to spend trillions of dollars protecting people and businesses from the economic fallout of the pandemic. That has prompted some to start reopening key sectors. Getting mines back to full production will take weeks, said Jacques Nel, of research firm NKC African Economics. But opening them early is essential.

Malaysia has allowed its palm oil industry — the world’s second-biggest — to operate during a six-week lockdown. Its electronics industry, which produces nearly 8% of the world’s semiconductors, is running on a third of its normal workforce. Pakistan on Tuesday extended its lockdown by two weeks but said some industries, starting with construction, would reopen in phases.

They absolutely do not do it to safe guard jobs, they do it to safe guard loan payments this is such bs.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bed Bath & Beyond shares rise as earnings top estimates, plans to maintain some key investmentsBed Bath & Beyond said that its results in 2020 'will be unfavorably impacted' by the crisis, and so it will not be offering a first-quarter nor full-year outlook.
Source: CNBC - 🏆 12. / 72 Read more »

The 10 most important skills you need on your résumé to nail a high-paying job - Business InsiderSkills like blockchain, the technology that enables cryptocurrency, and affiliate marketing are key for landing a job. The question is: will we get a job in 2020?
Source: BusinessInsider - 🏆 729. / 51 Read more »