Pandemic Shrinks Iranian Economy by 3%: Rouhani

reporter 1222 — Sun, 23 Aug 2020 10:32:16 +0000

TEHRAN (Iran News) – Iranian President Hassan Rouhani said while the novel coronavirus pandemic has slashed major economies in the world by up to 20 percent, Iran’s economy has contracted only by 3 percent.

In remarks at a Sunday session of the cabinet, attended by Leader of the Islamic Revolution Ayatollah Seyed Ali Khamenei via videoconferencing, Rouhani highlighted his administration’s success in making the economy withstand pressures and carry out the Resistance Economy policies.

The president said the positive results of such a policy in confrontation with the external shocks have been obvious in recent years, as his administration has managed to deal with the plummeting oil prices and the “unprecedented and cruel sanctions” imposed by the US.

The successful experience of countering those two problems helped the administration handle the coronavirus pandemic, Rouhani said, adding that while many large economies have shrunk by up to 20 percent after the pandemic, the coronavirus-related problems have damaged Iranian economy only by 3 percent.

Rouhani has repeatedly said that his administration is engaged in a battle on two fronts at the same time, dealing with the cruel foreign sanctions and addressing the coronavirus and its economic consequences.

The president said in June that the main priority in the administration’s economic plans is to control prices and supply the basic means of life.

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Emirates Airline to Cut about 30,000 Jobs amid Pandemic

reporter 1222 — Mon, 18 May 2020 08:46:30 +0000

TEHRAN (Iran News) – The UAE’s Emirates Airline is planning to cut about 30,000 jobs to reduce costs amid the coronavirus outbreak, which will bring down its number of employees by about 30% from more than 105,000 at the end of March.

The company is also considering speeding up the planned retirement of its A380 fleet, the report added, citing people familiar with the matter, Bloomberg reported.

An Emirates spokeswoman said that no public announcement about cutting jobs has been made yet by the company regarding “redundancies at the airline”, but that the company is conducting a review of “costs and resourcing against business projections”.

“Any such decision will be communicated in an appropriate fashion. Like any responsible business would do, our executive team has directed all departments to conduct a thorough review of costs and resourcing against business projections,” the spokeswoman said.

Emirates, one of the world’s biggest long-haul airlines, said earlier this month that it will raise debt to help itself through the coronavirus pandemic, and may have to take tougher measures as it faces the most difficult months in its history.

The state-owned airline, which suspended regular passenger flights in March due to the virus outbreak that has shattered global travel demand, had said that a recovery in travel was at least 18 months away.

It reported a 21% rise in profit for its financial year ending March 31 but said the pandemic had hit its fourth-quarter performance.

It said it would tap banks to raise debt in its first quarter to lessen the impact of the virus on cash flows.

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Pandemic Shrinks Iranian Economy by 3%: Rouhani

Emirates Airline to Cut about 30,000 Jobs amid Pandemic