Xinhua world economic news summary at 0930 GMT, March 11

Xinhua world economic news summary at 0930 GMT, March 11

LOS ANGELES — AMC Entertainment Holdings, Inc., the largest U.S. movie theater chain, reported a net loss of 4.58 billion U.S. dollars in 2020 due to the COVID-19 pandemic.

According to an AMC press release on Wednesday, the company’s total revenue in the most recent financial quarter ended December 31, 2020 fell 88.8 percent to 162.5 million dollars from 1.44 billion dollars a year ago. For full-year 2020, the company said its total revenue fell 77.3 percent to 1.24 billion dollars. (US- AMC-Revenue)

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TOKYO — Tokyo stocks closed higher Thursday as the market mood was buoyed by hopes that the U.S. Congress passing a 1.9-trillion-U.S.-dollar relief package overnight would help lift the U.S. pandemic-ravaged economy, with hopes also raised for the pace of recovery of the broader global economic recovery.

The 225-issue Nikkei Stock Average gained 175.08 points, or 0.60 percent, from Wednesday to close the day at 29,211.64. (Japan-Tokyo Stocks)

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ROME — Industrial producer prices in Italy rose in January compared to the previous month, the Italian National Statistics Institute (ISTAT) said Wednesday, though they still remained below levels from a year earlier.

Prices rose 1.4 percent in January compared to December, a sign of strengthening demand. But prices remained 0.3 percent below the year-ago period, according to the institute. (Italy-Economy)

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JOHANNESBURG — The Rand Merchant Bank (RMB) on Wednesday said South Africa’s Business Confidence Index (BCI) declined from 40 to 35 in the first quarter of 2021, showing the fragility of the economic recovery.

The RMB interviewed 1,300 business people during the second half of February and found that about seven out of ten senior executives expressed their dissatisfaction with prevailing business conditions, up from six previously. (S. Africa-BCI)

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