September 3, 2020 - Biz in 60 - a podcast by TRT World

US weekly jobless claims falls to 881,000
The number of Americans filing for unemployment benefits has dropped below the key 1-million mark for the second time during the pandemic. Another 881-thousand people lodged jobless claims last week, in a sign the labour market is continuing its recovery. It also reflects changes to the way the US Bureau of Labor Statistics is adjusting the numbers to factor-in seasonal swings in employment.

Turkey's inflation rate rises slightly to 11.77%
Turkey's inflation rose slightly in August driven by higher energy prices and a weaker Lira. Consumer prices rose 11-point-77 percent from a year ago, following an 11-point-76 percent increase in July. The cost of miscellaneous goods and services jumped by the most, with prices rising 27-percent.. followed by health-related costs which rose 14-point-7 percent.

Saudi Aramco reportedly delays diversification plans
Saudi Aramco is reportedly postponing some of its plans to diversify its economy, as the coronavirus crisis hammers crude prices. According to the Wall Street Journal, the world's biggest oil exporter is now reviewing a proposed 20-billion- dollar refining and petrochemical complex and a 6-point-6 billion- dollar plan to expand its refinery in Texas.

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