Saudi unemployment edges down to 11.8% in Q1

High levels of South Saskatchewan River raises safety concerns

The Saskatoon Fire Department is urging the public to stay off the South Saskatchewan River while water levels are dangerously high.

Samsung Sees 22.7% Rise In Q2 Operating Profit

Samsung Electronics Co Ltd (SMSN.L,SSNNF.OB,SSNLF.OB) expects that its second-quarter operating profit will rise about 22.73 percent from last year, due to increasing demand for server chips as countries around the world adopt work-from-home measures during the coronavirus pandemic. But, it projects sales will decrease 7.36 percent.

The South Korean tech giant projects operating profit of about 8.10 trillion Korean won in the second-quarter, compared to 6.60 trillion won reported last year. While it reported operating profit of about 6.45 trillion won in the first-quarter.

The company also expects second-quarter consolidated sales of about 52.00 trillion won compared to 56.13 trillion won last year. It reported consolidated sales of about 55.33 trillion won in the first-quarter.

Second-quarter earnings results will be released later this month.

Hong Kong national security law is 'lenient', city's leader Carrie Lam says

HONG KONG (REUTERS) – Hong Kong’s national security law imposed by Beijing last week is lenient, not strict, the city’s leader Carrie Lam said.

The sweeping legislation prohibits what China describes broadly as secession, subversion, terrorism and collusion with foreign forces, with up to life in prison for offenders.

Late on Monday (July 6), Hong Kong released additional details of the law for the former British colony, saying security forces had overriding authority to enter and search properties for evidence and stop people from leaving the city. More to come

Intermittent traffic interruptions for Kelowna’s Richter Street bridge

Drivers using Kelowna’s Richter Street bridge over Mill Creek should be prepared for intermittent delays for the next couple of months.

The city is starting a rehabilitation project that will involve concrete restoration under the bridge between Elliot and Burne avenues.

German industry expects production to rise in coming months – Ifo

BERLIN, July 7 (Reuters) – Industrial firms in Europe’s largest economy expect their production to increase in the coming three months, a survey published by Germany’s Ifo institute on Tuesday showed.

Ifo said its production index climbed to 4.3 points in June from -19.5 in May, marking its second biggest increase since German reunification three decades ago.

Many German firms had halted production during a lockdown imposed to slow the spread of the coronavirus.

Novartis : European Commission Approves Once-daily Enerzair Breezhaler

Novartis (NVS) said that the European Commission has approved Enerzair Breezhaler as a maintenance treatment of asthma in adult patients not adequately controlled with a maintenance combination of a long-acting beta2-agonist or LABA and a high-dose of an inhaled corticosteroid or ICS who experienced one or more asthma exacerbations in the previous year.

Once-daily Enerzair Breezhaler is the first LABA/long-acting muscarinic antagonist (LAMA)/ICS fixed-dose combination available in the EU for these patients.

The approval also includes an optional digital companion with sensor and app that provides inhalation confirmation, medication reminders and access to objective data to better support therapeutic decisions.

The EC decision is applicable to all 27 European Union member states as well as the UK, Iceland, Norway and Liechtenstein.

Enerzair Breezhaler is provided in a transparent capsule that allows patients to see that they have taken their medication and will be administered via the dose-confirming Breezhaler device, which enables once-daily inhalation using a single inhaler.

The digital companion includes a sensor that attaches to the Breezhaler device and can be linked to the Propeller Health smartphone app, providing patients with inhalation confirmation, medication reminders and access to objective data that can be shared with their physician in order to help them make better therapeutic decisions.

Sodexo Q3 Revenue Down 31.2% – Quick Facts

French food services and facilities management company Sodexo S.A. (SDXAY.PK) reported that its third-quarter group revenue was 3.910 billion euros, down 31.2% from last year. Currencies impacted revenues by 1.7%. Group organic revenue was down 29.9%.

Whereas food services revenue was down 44%, FM services revenue was down 2%. Benefits & Rewards revenue was down 22.8%.

The company noted that its third-quarter performance was slightly better than the April hypotheses predicting a decline in revenues of 33% and a 25% flow-through.

The company expects fourth-quarter revenues to be down about 27%, compared to original hypotheses in April of negative 15%. As a result, the second semester decline is now expected to be 28%, or around 3 billion euros and 13.7% for the full year.

Malaysia cuts key interest rate to record low of 1.75%

KUALA LUMPUR (REUTERS) – Malaysia’s central bank on Tuesday (July 7) cut its key interest rate for a fourth straight meeting to a historic low, as South-east Asia’s third-largest economy grapples with the coronavirus pandemic and faltering demand for its exports.

Bank Negara Malaysia eased its overnight policy rate by 25 basis points to 1.75 per cent. A slim majority of economists in a Reuters poll had expected a rate reduction of at least 25 basis points.

Saudi unemployment edges down to 11.8% in Q1

DUBAI, July 7 (Reuters) – Unemployment among Saudi Arabian citizens fell to 11.8% in the first quarter of 2020 from 12% the previous quarter, figures released on Tuesday showed.

The rate fell from 12.5% in the first quarter of 2019.