04 CLASSIFIEDS SATURDAY 13 JUNE 2020 · 6/13/2020  · Competitive Rates for Car Rental & Leasing,...

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04 SATURDAY 13 JUNE 2020 CLASSIFIEDS ARTECH Sage Accounting, Peachtree, QuickBooks, Dynacom, DacEasy, Tally, POS, Bar Code, Fixed Assets Software’s. Tel: +974 44375654 E-mail: [email protected] ACCOUNTING SOFTWARES GEM ADVERTISING & PUBLICATIONS (Overseas Newspaper Advertisements) Tel: 44442001 - GSM: 55783303 ADVERTISING OVERSEAS NEWSPAPER ATTESTATION CALIBRATION SERVICES ASIA TRANSLATION & SERVICES CENTRE Leading Legal Translators & Document Legalization Since 1987. Indian Certificate Attestation. Head Office: 44364555/50233133 - Al Hilal Branch: 44621334 - Salwa Road Branch: 66038181 Mobile Contacts: Sufiyan - 66192881/Yoonus - 77813190 ARMSTRONG Window/Split/Package/Central Units. Sales, Services, Spare Parts/Window/ Split & Central A/C. Annual Contracts. Mobile: 555 54 274 (Kumar) E-mail: service@armstrongmachinery.com www.armstrongmachinery.com A/C MAINTENANCE & SERVICES ALWASEEM TRANSLATION & SERVICES CENTER Authorized Translators - Company Formation and PRO Services (Opp-Karwa Bus Stat. Doha, Al-Saeed Buil.2nd Floor.) M : 50822292 / 31586616 T : 44116727 E-mail : [email protected] Web : www.alwaseemtranslation.com BUSINESS SET-UP HELPLINE GROUP Certificate attestation from INDIA| UK | USA | CANADA | PHILIPPINE and Gulf Countries 20 Years of experience and ISO Registered Company HELPLINE GROUP, C Ring Road Tel:(+974)-44271100 Mob: 31550149 Email: [email protected] HELPLINE GROUP Company Registration, Local Sponsorship, Trademark, Feasibility Study, Tax systems and PRO Services. Our branches QATAR| KUWAIT | UAE | INDIA | UK | CANADA. (formed more than 3000 companies) HELPLINE GROUP, C Ring Road Tel: (+974)-44271100 MOB: 77711129 Email: [email protected] AL HAYIKI TRANSLATION & SERVICES EST. Authorized Translation & Certificate Attestation since 1992 Sofitel Complex (Mercure Hotel) Ground Floor, Office No. 25 Mob: 33411150 & 33411153, Tel: 44367755 & 44181990 E-mail: [email protected] Web: www.alhayikitranslation.com QUEENS LAND SERVICES Business Set-up and Sponsorship. Debt Collection. Real Estate Services Mob: 77776917 E-mail: [email protected] INVEST IN QATAR IMMIGRATION SERVICES HELPLINE GROUP Complete Manpower Solutions Business Structure and Business Planning Tel: (+974)-44271100 Mob: 77711129 Web: helplinehrconsulting.com HR CONSULTATION AL SALEH GROUP(HR) Tel: 44423838 Send CV to Email: [email protected] ARMSTRONG Repairs/Spare Parts & Rentals. Power from 5KVA to 2000KVA Sales/ Services/ Spare Parts & Rentals. Annual Contracts. Mobile: 555 54 274 (Kumar) E-mail: [email protected] www.armstrongmachinery.com GENERATORS SERVICING CLEANING AND MAINTENANCE AL MUTWASSIT CLEANING & PEST CONTROL Complete General Cleaning For Residential & Commercial. Supply of Cleaning Staff on Contract Basis. Pest Control Services. Office: 44367555 Mob: 30029977/55875920 E-mail: [email protected] AL SALEH CLEANING & HOSPITALITY Complete General Cleaning Services for Old & New Villas. Tel: 44423838 GSM: 55508393 - 55526943 - 50190005 CAPITAL CLEANING COMPANY W.L.L. Complete General Cleaning Services for Old and New Villas Tel: 44582257 Mobile: 33189899/ 55565328 E-mail: [email protected] WOKEER INDUSTRIAL AREA From 150 - 200 Labors Mobile: 660 02 704 (Steve) E-mail: portacabins@iescoqatar.com LABOUR CAMP FOR RENT ARMSTRONG 1000-4000 Gallon Tankers - Daily/Monthly/Yearly Contracts. Mobile: 660 41 449 (Neil) E-mail: portacabins6@iescoqatar.comwww.iescoqatar.com. SEWAGE & WASTE REMOVAL SCAFFOLDING APOLLO ENTERPRISES SCAFFOLDING DIVISION Contract/Hire/Sale - Salwa Road. Tel: 44693334 Fax: 44416274 GSM: 55521089/55560246/55536285 www.apollo-qatar.net - E-mail: [email protected] REAL ESTATE AL MUFTAH SERVICES Tel: 44634444/44010700 Mob: 55542067/55823100 E Mail: [email protected] Website: www.rentacardoha.com TRANSLATION HELPLINE GROUP Authorized Translation Centre. We speak more than 100 Languages. C Ring Road, Near by Toyota Signal Tel: (974)-44271100 Mob: 70114857 Email: [email protected] PARTY KINGDOM Near Jaidah Flyover, Nasrallah Centre. Tel: 44353501/ 44366431 E-mail: [email protected] PARTY ITEMS & BALLOON DECORATION ARMSTRONG Porta Cabins/Pre-Fabricated Buildings/Toilets/Security Cabins. Fire Rated/Non Fire Rated. Mobile: 557 80 396 (Steve) E-mail: portacabins2@iescoqatar.com www.iescoqatar.com. PORTA CABINS (Sales & Rentals) ARMSTRONG Five Peals-USA Sales/Rental Service/Cleaning, Sewage Removal. Daily/Monthly/Yearly. Mobile: 557 80 396 (Steve) E-mail: portacabins2@iescoqatar.com www.iescoqatar.com. PORTABLE & CHEMICAL TOILETS (Sales & Rentals) MEDIA SERVICES RENT A CAR AL MUFTAH RENT A CAR Main Office: D’ Ring Rd, T: 44634444/44010700 Branches: Airport: 44634433 Al Khor: 44113344 E Mail: [email protected] Website: www.rentacardoha.com OASIS RENT A CAR YOU RENT MORE THAN A CAR WITH OASIS Allen: 6641 7354 Tel: 4413 0011 - OasisCars.com [email protected] - - Great deals on long term rentals REGENCY FLEETS (A Regency Group Co.) Special Corporate leasing and Rental rates. Price includes Comprehensive Insurance, Maintenance, Replacement Vehicle etc. Driven by Values. E-mail: [email protected] Tel: 44433822/44554046/44554048 Fax: 44554047 Airport Branch (24hrs): Tel.: 70482655 NATIONAL - ALAMO RENT A CAR Cars - 4WDs - Pickups - Buses - Chauffeur Drive Call: 5547 8150, 5040 0624 Web: www.national-qatar.com E-mail: [email protected] BUDGET RENT A CAR Competitive Rates for Car Rental & Leasing, 24/7 Airport Rental Section, Free Road Side Assistance, Easy & Fast Booking Process Head Office: Barwa Village T: 44325500 M: 66971703 Toll Free: 800-4627 Email: [email protected] Website: www.budgetqatar.com AL SALEH REAL ESTATE Tel: 44423838. Mob: 33721133 E-mail: [email protected] HOME CARE ARMSTRONG Ablution & Event Toilets Rental, Porta Cabins, Chemical Toilets & Other Equipment Rental. Mobile : 557 80 396 (Steve) E-mail: [email protected] www.iescoqatar.com EVENT RENTALS/ ABLUTION TOILETS MASSAGE KOTTAKKAL AYURVEDIC MASSAGE CENTRE Ayurvedic Massage, Philippine & Thai Massage. Near Badriya Signal, Bin Mehmood. Tel.: 44360061 GSM: 33453697 MEDIHERB MASSAGE Kerala Ayurvedic, Thai, Philippine Massage (Gents & Ladies) for back pain, body pain, arthritis etc shirodhara, steam, Moroccan Bathe, Body Scrub etc. E-Ring Road, Near ICC Signal, Nuaija. Tel: 66167700 - 50736611 AUTHENTIC THAI MASSAGE CENTERS FB: Royal Thai Men Spa, New Slata (Men Only) www.thaimassagedoha.com, Tel: 44666145 FB: Royal Thai Lady Spa, Al Waab (Ladies Only) www.royalthailadyspa.com, Tel: 44142400 WATER TANK CLEANING AL MUTWASSIT CLEANING & PEST CONTROL Kharaba st, Behind white Mosque. Fax: 443679 99 - GSM. 55875920/55860432 CAPITAL CLEANING COMPANY Cleaning Water Tanks & Pest Control. GSM: 55565328/ 33189899 Tel: 44582257 E-mail: [email protected] WOKEER INDUSTRIAL AREA Available Sizes: 358/415/510/830/1340 Sqm. Mobile: 660 02 704 (Steve) E-mail: portacabins@iescoqatar.com WAREHOUSE FOR RENT ARMSTRONG New & Used Containers - Sales/Rental (Certified & Uncertified) Mobile: 557 80 396 (Steve) E-mail: portacabins2@iescoqatar.com www.iescoqatar.com. USED CONTAINERS (Sales & Rentals)

Transcript of 04 CLASSIFIEDS SATURDAY 13 JUNE 2020 · 6/13/2020  · Competitive Rates for Car Rental & Leasing,...

Page 1: 04 CLASSIFIEDS SATURDAY 13 JUNE 2020 · 6/13/2020  · Competitive Rates for Car Rental & Leasing, 24/7 Airport Rental Section, Free Road Side Assistance, Easy & Fast Booking Process

04 SATURDAY 13 JUNE 2020CLASSIFIEDS

ARTECHSage Accounting, Peachtree, QuickBooks, Dynacom, DacEasy, Tally, POS, Bar Code, Fixed Assets Software’s.Tel: +974 44375654 E-mail: [email protected]

ACCOUNTING SOFTWARES

GEM ADVERTISING & PUBLICATIONS(Overseas Newspaper Advertisements) Tel: 44442001 - GSM: 55783303

ADVERTISING OVERSEAS NEWSPAPER

ATTESTATION

CALIBRATION SERVICES

ASIA TRANSLATION & SERVICES CENTRELeading Legal Translators & Document Legalization Since 1987. Indian Certificate Attestation. Head Office: 44364555/50233133 - Al Hilal Branch: 44621334 - Salwa Road Branch: 66038181 Mobile Contacts: Sufiyan - 66192881/Yoonus - 77813190

ARMSTRONGWindow/Split/Package/Central Units. Sales, Services, Spare Parts/Window/Split & Central A/C. Annual Contracts. Mobile: 555 54 274 (Kumar)E-mail: [email protected] www.armstrongmachinery.com

A/C MAINTENANCE & SERVICES

ALWASEEM TRANSLATION & SERVICES CENTERAuthorized Translators - Company Formation and PRO Services (Opp-Karwa Bus Stat. Doha, Al-Saeed Buil.2nd Floor.) M : 50822292 / 31586616 T : 44116727 E-mail : [email protected] Web : www.alwaseemtranslation.com

BUSINESS SET-UP

HELPLINE GROUPCertificate attestation from INDIA| UK | USA | CANADA | PHILIPPINE and Gulf Countries20 Years of experience and ISO Registered CompanyHELPLINE GROUP, C Ring Road Tel:(+974)-44271100Mob: 31550149 Email: [email protected]

HELPLINE GROUPCompany Registration, Local Sponsorship, Trademark, Feasibility Study, Tax systems and PRO Services. Our branches QATAR| KUWAIT | UAE | INDIA | UK | CANADA. (formed more than 3000 companies)HELPLINE GROUP, C Ring Road Tel: (+974)-44271100MOB: 77711129 Email: [email protected]

AL HAYIKI TRANSLATION & SERVICES EST.Authorized Translation & Certificate Attestation since 1992Sofitel Complex (Mercure Hotel) Ground Floor, Office No. 25Mob: 33411150 & 33411153, Tel: 44367755 & 44181990E-mail: [email protected] Web: www.alhayikitranslation.com

QUEENS LAND SERVICESBusiness Set-up and Sponsorship. Debt Collection. Real Estate Services Mob: 77776917 E-mail: [email protected]

INVEST IN QATAR

IMMIGRATION SERVICES

HELPLINE GROUPComplete Manpower SolutionsBusiness Structure and Business PlanningTel: (+974)-44271100 Mob: 77711129 Web: helplinehrconsulting.com

HR CONSULTATION

AL SALEH GROUP(HR)Tel: 44423838Send CV to Email: [email protected]

ARMSTRONGRepairs/Spare Parts & Rentals. Power from 5KVA to 2000KVA Sales/Services/ Spare Parts & Rentals. Annual Contracts.Mobile: 555 54 274 (Kumar) E-mail: [email protected] www.armstrongmachinery.com

GENERATORS SERVICING

CLEANING AND MAINTENANCE

AL MUTWASSIT CLEANING & PEST CONTROLComplete General Cleaning For Residential & Commercial. Supply of Cleaning Staff on Contract Basis. Pest Control Services. Office: 44367555 Mob: 30029977/55875920 E-mail: [email protected]

AL SALEH CLEANING & HOSPITALITYComplete General Cleaning Services for Old & New Villas.Tel: 44423838 GSM: 55508393 - 55526943 - 50190005

CAPITAL CLEANING COMPANY W.L.L.Complete General Cleaning Services for Old and New VillasTel: 44582257 Mobile: 33189899/ 55565328E-mail: [email protected]

WOKEER INDUSTRIAL AREAFrom 150 - 200 LaborsMobile: 660 02 704 (Steve)E-mail: [email protected]

LABOUR CAMP FOR RENT

ARMSTRONG1000-4000 Gallon Tankers - Daily/Monthly/Yearly Contracts. Mobile: 660 41 449 (Neil)E-mail: [email protected].

SEWAGE & WASTE REMOVAL

SCAFFOLDING

APOLLO ENTERPRISES SCAFFOLDING DIVISIONContract/Hire/Sale - Salwa Road. Tel: 44693334 Fax: 44416274 GSM: 55521089/55560246/55536285 www.apollo-qatar.net - E-mail: [email protected]

REAL ESTATE

AL MUFTAH SERVICESTel: 44634444/44010700 Mob: 55542067/55823100 E Mail: [email protected] Website: www.rentacardoha.com

TRANSLATION

HELPLINE GROUPAuthorized Translation Centre.We speak more than 100 Languages. C Ring Road, Near by Toyota Signal Tel: (974)-44271100 Mob: 70114857 Email: [email protected]

PARTY KINGDOMNear Jaidah Flyover, Nasrallah Centre. Tel: 44353501/ 44366431

E-mail: [email protected]

PARTY ITEMS & BALLOON DECORATION

ARMSTRONGPorta Cabins/Pre-Fabricated Buildings/Toilets/Security Cabins. Fire Rated/Non Fire Rated. Mobile: 557 80 396 (Steve)E-mail: [email protected] www.iescoqatar.com.

PORTA CABINS (Sales & Rentals)

ARMSTRONGFive Peals-USA Sales/Rental Service/Cleaning, Sewage Removal. Daily/Monthly/Yearly. Mobile: 557 80 396 (Steve)E-mail: [email protected] www.iescoqatar.com.

PORTABLE & CHEMICAL TOILETS (Sales & Rentals)

MEDIA SERVICES

RENT A CAR

AL MUFTAH RENT A CARMain Office: D’ Ring Rd, T: 44634444/44010700 Branches: Airport: 44634433 Al Khor: 44113344 E Mail: [email protected] Website: www.rentacardoha.com

OASIS RENT A CARYOU RENT MORE THAN A CAR WITH OASISAllen: 6641 7354 Tel: 4413 0011 - OasisCars.com [email protected] - - Great deals on long term rentals

REGENCY FLEETS (A Regency Group Co.)Special Corporate leasing and Rental rates. Price includes Comprehensive Insurance, Maintenance, Replacement Vehicle etc. Driven by Values. E-mail: [email protected] Tel: 44433822/44554046/44554048 Fax: 44554047 Airport Branch (24hrs): Tel.: 70482655

NATIONAL - ALAMO RENT A CARCars - 4WDs - Pickups - Buses - Chauffeur Drive Call: 5547 8150, 5040 0624 Web: www.national-qatar.comE-mail: [email protected]

BUDGET RENT A CARCompetitive Rates for Car Rental & Leasing, 24/7 Airport Rental Section,Free Road Side Assistance, Easy & Fast Booking ProcessHead Office: Barwa Village T: 44325500 M: 66971703 Toll Free: 800-4627Email: [email protected] Website: www.budgetqatar.com

AL SALEH REAL ESTATETel: 44423838. Mob: 33721133 E-mail: [email protected]

HOME CARE

ARMSTRONGAblution & Event Toilets Rental, Porta Cabins, Chemical Toilets & Other Equipment Rental.Mobile : 557 80 396 (Steve) E-mail: [email protected]

EVENT RENTALS/ ABLUTIONTOILETS

MASSAGE

KOTTAKKAL AYURVEDIC MASSAGE CENTREAyurvedic Massage, Philippine & Thai Massage. Near Badriya Signal, Bin Mehmood. Tel.: 44360061 GSM: 33453697

MEDIHERB MASSAGEKerala Ayurvedic, Thai, Philippine Massage (Gents & Ladies) for back pain, body pain, arthritis etc shirodhara, steam, Moroccan Bathe, Body Scrub etc. E-Ring Road,

Near ICC Signal, Nuaija. Tel: 66167700 - 50736611

AUTHENTIC THAI MASSAGE CENTERSFB: Royal Thai Men Spa, New Slata (Men Only)www.thaimassagedoha.com, Tel: 44666145FB: Royal Thai Lady Spa, Al Waab (Ladies Only)www.royalthailadyspa.com, Tel: 44142400

WATER TANK CLEANING

AL MUTWASSIT CLEANING & PEST CONTROLKharaba st, Behind white Mosque. Fax: 443679 99 - GSM. 55875920/55860432

CAPITAL CLEANING COMPANYCleaning Water Tanks & Pest Control. GSM: 55565328/ 33189899 Tel: 44582257 E-mail: [email protected]

WOKEER INDUSTRIAL AREAAvailable Sizes: 358/415/510/830/1340 Sqm.Mobile: 660 02 704 (Steve)E-mail: [email protected]

WAREHOUSE FOR RENT

ARMSTRONGNew & Used Containers - Sales/Rental (Certified & Uncertified) Mobile: 557 80 396 (Steve)E-mail: [email protected] www.iescoqatar.com.

USED CONTAINERS (Sales & Rentals)

Page 2: 04 CLASSIFIEDS SATURDAY 13 JUNE 2020 · 6/13/2020  · Competitive Rates for Car Rental & Leasing, 24/7 Airport Rental Section, Free Road Side Assistance, Easy & Fast Booking Process

03SATURDAY 13 JUNE 2020 BUSINESS

Britain backtracks on post-Brexit import checksAFP — ALONDON:

Britain will apply “light-touch” border checks on goods from the European Union when the Brexit transition period ends this year so as to help firms hit by the coronavirus crisis, reports said yesterday.

Ministers have ditched plans to introduce a more rigorous regime following pressure from businesses struggling with the fallout from the pandemic, according to the Financial Times and the BBC.

Britain’s economy shrank by more than a fifth in April from March -- a record -- as the first full month of its virus lockdown ravaged activity.

The country formally left the EU on January 31 after 47 years of membership but remains in a transition period until December 31, keeping it inside the bloc’s single market and customs union.

With talks on a new trade agreement deadlocked, Britain has nonetheless rejected EU offers to extend the standstill arrangements, a step which would need to be agreed by July.

“I formally confirmed the UK will not extend the tran-sition period (and) the moment for extension has now passed,” senior minister Michael Gove said Friday after chairing a virtual meeting with counter-parts in Brussels.

“On 1 January 2021 we will take back control and regain our political (and) economic independence,” Gove, a leading Brexit proponent who is spear-heading preparations, added on Twitter.

However, the leaders of devolved governments in Scotland and Wales penned a joint letter Friday to Prime Min-ister Boris Johnson, urging him to request an extension to support businesses through the pandemic recovery.

“We believe that exiting the transition period at the end of the year would be extraordi-narily reckless,” Scottish First Minister Nicola Sturgeon and Welsh leader Mark Drakeford wrote.

A British government source confirmed yesterday it would now adopt a “pragmatic and flexible approach” to post-Brexit goods checks.

“We recognise the impact that coronavirus has had on UK businesses,” the source said.

“As we take back control of our laws and our borders at the end of this year, we will take a pragmatic and flexible approach to help business adjust to the changes and opportunities of being outside the single market and the customs union.” A spokesman for the Cabinet Office, which is coordinating Brexit prepara-tions, noted the government said earlier this week it will provide an update on its plans “soon”.

Gove unveiled proposals in February to treat all British exports and imports equally after Brexit.

That would have required traders in Britain and the EU to submit customs declarations and face checks on goods,

which he said at the time were “necessary” to secure the coun-try’s borders and collect taxes.

But the FT said Gove has backtracked and has now accepted that a “temporary light-touch regime” at ports such as Dover would be needed.

Prime Minister Johnson is set to talk to the heads of the three main EU institutions -- the commission, parliament and council -- to take stock of the negotiations on Monday, directly joining the talks for the first time.

Meanwhile Brussels yes-terday confirmed that the talks will continue through the summer, with negotiating rounds now set for July, August and September.

European Commission Vice-President Maros Sefcovic holds a press conference following the second meeting of the EU-UK Joint Committee in Brussels, Belgium, yesterday.

Sterling sheds gains against dollar as Brexit, economy weighREUTERS — LONDON

The pound shed early gains against a weaker dollar yesterday to be flat on the day as a combination of stronger appetite for risk, unprecedentedly weak economic data and Brexit concerns weighed on the British currency.

The pound had a poor week, slipping back after it had risen 3.9 percent against the dollar in 10 consecutive days of gains.

It recovered against the dollar yesterday, touching $1.2653 in earlier trade, before flattening back to $1.2604 at 1247 GMT. Against the euro, the pound was also flat at 89.70 pence.

Analysts suggested sterling was behaving like a risk currency, strengthening when improving global market sentiment weakens demand for the safe-haven dollar.

Vasileios Gkionakis, head of FX strategy at Lombard Odier, said the pound’s losses this week made sense because market participants had been com-placent in view of ongoing Brexit risks and the corona-virus-induced economic slump.

“Little progress has been made on Brexit... the UK economy is going to lag the rest of the developed markets,

so levels at $1.27-$1.28 were a bit of a stretch for sterling,” he said.

Bri tain ’s economy shrank by a quarter over March and April, data showed yesterday. The country has also made very little headway in talks about a future trade relationship with the European Union, negotiators have said, and it confirmed yesterday it would not extend a Brexit transition period that is due to end on January 1.

Asset manager Can-driam told clients that it expected “further depreci-ation” of the pound as their view on Britain was neg-ative given its performance in managing the COVID-19 crisis and a lack of progress in sealing a deal with the EU.

“This all alongside a massive fiscal deficit, inflated debt to GDP and a current account deficit which requires financing,” Can-driam said.

The British government has faced heavy criticism for its handling of the pandemic, which killed more than 50,000 people in the country.

From next week, much of Britain’s retail sector is authorised to reopen as long as shops follow social dis-tancing rules.

Germany hopes stimulus measures will drive second-half recoveryREUTERS — BERLIN

Germany can avoid a second wave of the coronavirus pandemic and a new €130bn ($147bn) stimulus package should help Europe’s largest economy start recovering in the second half of the year, ministers said yesterday.

Germany’s economy has taken a battering after many firms went into lockdown in March to curb the spread of the coronavirus and the gov-ernment expects a 6.3 percent contraction this year - which would be its worst recession since World War Two.

As part of the stimulus package, the cabinet agreed yesterday to cut value-added tax VAT to 16 percent from 19 percent from July 1 until December 31 in a bid to boost consumption and to give parents a cash handout of 300 euros per child.

“We want to make sure that

the economic trough is passed in the second half of the year,” Economy Minister Peter Alt-maier (pictured) told a news conference.

Both measures are part of a wider package the gov-ernment announced last week and which the DIW institute has said could boost economic output by 1.3 percentage points

this year and next.The stimulus measures

come on top of a €750bn rescue package agreed in March which encompassed a debt-financed supplementary budget of €156bn.

Germany’s measures, which together with liquidity aid and loan guarantees equal more than 30% of its economic output, go substantially beyond any other national emergency programmes launched by other euro zone countries. Germany can afford generous spending splurges as it has had a bal-anced budget since 2014.

Finance Minister Olaf Scholz told a joint news con-ference with Altmaier that Germany was well placed to avoid a second wave of the virus - a risk that unnerved financial markets on Thursday.

The chances were “very, very large that we will get past this major problem,” Scholz said.

US consumer sentiment jumps most since 2016 as employers restore jobs BLOOMBERG

US consumer sentiment climbed in early June by the most since 2016 as more states began to reopen their economies and employers restored jobs.

The University of Michigan’s preliminary sentiment index increased 6.6 points to 78.9, according to data yesterday. The median projection in a Bloomberg survey of economists called for a gain to 75. Even with the improvement, the gauge remains well below pre-pandemic levels.

The gauge of current conditions advanced 5.5 points to 87.8 this month, while a measure of expec-tations jumped 7.2 points to 73.1.

The increase in sentiment high-lights optimism that the reopening of the US economy will restore jobs and help spur the spending needed to dig out of a deep recession. Still, two-thirds of respondents antici-pated unfavorable economic

conditions in the year ahead because of concerns about a resur-gence in the coronavirus as well as lingering weakness in the job market.

“Despite the expected economic gains, few consumers anticipate the reestablishment of favorable eco-nomic conditions anytime soon,” Richard Curtin (pictured), director of the survey, said in a statement.

The university’s sentiment data are consistent with a weekly Bloomberg measure. The index of consumer comfort advanced in the first week of June to a six-week high as higher stock prices and the return to work for Americans con-tinued to lift attitudes about per-sonal finances, a report showed Thursday.

The Michigan survey’s inflation expectations data continued to show a disconnect with gov-ernment price figures indicating scant inflation in the economy. Consumers expect 3 percent

inflation in the coming year, the sentiment report showed.

“It is likely that the recent rise in inflation expectations reflects a shift in consumer purchases from the full range included in the CPI to be more heavily focused on food purchases, which posted an annual gain of 4.8 percent in May,” Curtin said.

The data also showed a growing political divide, with the increase in consumer sentiment concentrated among Republicans and inde-pendent voters. At the same time, overall confidence in government economic policies declined, with the share judging policies as poor at the highest level since President Donald Trump was elected.

The Michigan survey was con-ducted May 27 to June 10. The Labor Department reported last week that 2.5 million jobs were added in May as reopenings generated more eco-nomic activity. Even so, Federal Reserve Chair Jerome Powell

cautioned on Wednesday that longer-term unemployment chal-lenges may linger as a result of the pandemic.

The share of respondents who reported they expect their finances to improve in the next year rose to 42 percent from 32 percent, the uni-versity said. The gain was due to rising income, with an expected annual improvement of 1.3 percent, up from 0.5 percent

Knot positive on spending planREUTERS — AMSTERDAM

While the Dutch government has been a prom-inent sceptic of a plan for the European Union to spend €750bn on economies hurt by coro-navirus, the president of the country’s central bank yesterday praised the idea.

In a speech to Dutch business leaders, Klaas Knot (pictured) said a European Commission plan proposed last month to borrow and then re-distribute funds to countries in a mix of grants and loans is fundamentally different to debt-sharing, or “coronabonds”, which the Dutch oppose on principle.

Rather, it would be an “increase of budg-etary power of which the purpose is coupled to the current, very exceptional circumstances,” Knot said.

“I would like to underline that I applaud solidarity at the European level from my heart, and I do so not least out of the Netherlands’ own self-interest.” The Dutch government is one of the “frugal four” nations with Sweden, Denmark and Austria, that have argued against the 500 billion in grants contained in the plan, much of which would go to Italy and Spain, the EU countries worst affected by pandemic.

In a June 9 letter to parliament, Dutch Finance Minister Wopke Hoekstra said the financing of the proposals was “far removed from the Netherlands’ position.” The European Council is due to discuss the plan at a meeting June 19.

France to see 800,000 job losses in coming months: ministerAFP — PARIS

France is likely to suffer 800,000 job losses in coming months, the finance minister warned on Wednesday, as the economy reels from the effects of a lockdown imposed to contain the coronavirus pandemic.

“Our evaluation is that 800,000 jobs will be lost in the coming months, or 2.8 percent of total employment,” Bruno Le Maire told a finance committee in parliament.

“The shock is considerable and calls for massive public policies to support and accompany all those affected,” Le Maire said.

Such measures include the furlough scheme, tax breaks for companies and financial incentives to hire apprentices, he said.

The Bank of France said Tuesday the French economy will likely shrink about 10 per cent, resulting from the countrywide strict lockdown imposed in March.

The economy will not recover to pre-crisis levels until mid-2022, it said.

Unemployment is expected to surge to above 11.5 percent by mid-2021, well above previous peaks, the bank said.