It’s an astonishing fact of business life that major global corporations attract all the attention from the press and analysts – and yet, in any region of the world, such corporations frequently account for much less than 50% of the economy. In the UK, for instance, 59.3% of total employment came from companies with less than 250 employees over the last five years – while in Germany, figures from the European Central Bank prove SMEs generated 54.4% of total gross value added (GVE) and 63.7% of all employment in 2019.
Commuters wearing protective masks ride the L subway line during rush hour in the Williamsburg neighborhood in the Brooklyn borough of New York, U.S., on Monday, June 8, 2020. Only 1.2% of New Yorkers tested Sunday were infected with the new coronavirus, the lowest rate since the pandemic began. “Why are we reopening? Because these numbers say we can,” Governor Andrew Cuomo said said at a news conference in Manhattan. Photographer:
Nina Westervelt | Bloomberg via Getty Images
Stringent public health measures have helped stem the transmission of the coronavirus, but there’s “every chance” of a resurgence as economies reopen,
DeWITT COUNTY, Texas (Reuters) – Royalties from oil pumped on Paul Ruckman’s land allowed the South Texas retiree to build a six-bedroom, seven-bathroom vacation home. He had plenty left over, and donated some of it to Helena, Texas, an 1800s ghost town that draws hundreds to historic buildings and gunfight re-enactments.
FILE PHOTO: An oil pumpjack operates near Williston, North Dakota January 23, 2015. REUTERS/Andrew Cullen/File Photo
The worst oil bust in decades has slashed the bounty that flowed to millions of rural Americans like Ruckman, who said his royalty checks have plummeted 70% since January.
“I imagine they’re going
Middle Eastern countries should not “waste” the ongoing coronavirus crisis, but should make changes to build up the resilience of their economies, the chief executive officer of a UAE-based retail giant told CNBC this week.
That could include addressing systemic issues and providing more support to businesses, said Alain Bejjani, CEO of Majid Al Futtaim.
“In the coming two to three years, we’re going to see, certainly, a very, very large impact that’s going to be asymmetric, depending on the readiness of countries,” he said, noting that private sectors in the region are “not as strong” and economies are “quite