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The United States plans to revoke special trade privileges for Hong Kong and sanctions officials from the Territory and China, exacerbating Washington-Beijing relations that were already strained amid the pandemic. US President Donald Trump announced several measures targeting China on Friday after Beijing moved to introduce new security laws in Hong Kong earlier this week.
India’s economic growth declined to 3.1 percent in the quarter ending March, the lowest in a decade. While the data beat many economists̵
Thailand is permitting gym, massage chairs, cinemas, theaters and zoos to open again from Monday. The state will also shorten a curfew at night by one hour, with the ban going outdoors to run from 11 pm to 3 am. Thai boxing arenas and other major arenas remain closed, and a ban on selling alcohol at restaurants remains. The authorities have blocked most incoming flights until 30 June.
FA Cup, football’s oldest competition, will resume next month and conclude with the final on August 1, announced the sport’s governing body in England. With the English Premier League resuming fixtures on June 17, the Football Association said the quarterfinals of the tournament, part of the football calendar for nearly 150 years, would take place on June 27-28.
Sweden’s economy expanded during the first quarter no-lockdown method for coronavirus helped to prevent the deep recession suffered by most other European countries. Gross domestic product increased by 0.1 percent in the first three months from the fourth quarter last year. The government still expects its economy to decline by 7 percent this year.
Norway and Denmark have agreed let each other’s tourists visit their countries from mid-June but excluded Sweden in the midst of tough debate about Stockholm’s coronavirus strategy. Sweden has a death rate per capita almost ten times that in Norway and four times that of Denmark after pursuing looser restrictions. Denmark also opens to tourists from Germany and Iceland from 15 June.
Italy’s economy shrunk more than previously thought during the first quarter, as activity was stifled by Covid-19 restrictions. Italy’s gross domestic product fell 5.3 percent in January to March compared to the previous quarter, revised from a 4.7 percent decline in preliminary estimates, according to official data, the largest decline since records began in 1996.
France household consumption fell most on record in April, but the economic decline in the first quarter was less dramatic than previously forecast. Consumption fell by 20.2 per cent in April, compared with the previous month, after contracting 17 per cent in March, statistics from the Statistics Office. It was the second historical decline since the survey began in 1980.
Turkey recorded rapid economic growth in the first quarter before the coronavirus pandemic, plans by Turkish President Recep Tayyip Erdogan slowed down for a credit-driven boom. Gross domestic product expanded by 4.5 per cent in January-March compared to the same period last year, when the country suffered a recession as a result of sharp slippage in the lira.
German retail fell 5.3 percent in April, providing evidence that Europe’s largest economy suffered a more modest decline in activity during the pandemic than its neighbors. Retail sales in April were down 20.2 percent in France, 31.6 percent in Spain and 18.1 percent in the UK. German children return to school, many shops and restaurants have reopened and manufacturers are increasing production.