Monday, April 6, 2020

Gulf banks are limiting their lending to minimize losses

Gulf central banks have introduced stimulus measures worth tens of billions of dollars including loan repayment holidays to distressed businesses and individuals and fee...

Dubai to inject capital into Emirates Airline

Emirates Airline, with its vast fleet of 271 wide-body aircraft, is the largest carrier in the Middle East and has huge strategic importance for...

Amid airport closure, Lebanon banks halt dollar withdrawals

On Monday, long queues formed outside several banks north of the capital as monthly salaries came through after two weeks of ongoing home confinement. A...

Amid Coronavirus, Pakistan seeks $1.4 billion IMF loan

Government finance adviser Abdul Hafeez Shaikh said on Wednesday that Pakistan is seeking another $1.4 billion loan from the International Monetary Fund (IMF) to...

Lebanon to discontinue paying outstanding Eurobonds

Lebanon, hit by a grinding dollar liquidity crunch amid its worst economic recession in decades, had set the stage for a default on its...

Fears of world food inflation due to Panic buying and lockdowns

A senior economist at United Nations' Food and Agriculture Organisation (FAO) and agricultural analysts stated that lockdowns and panic food buying could ignite world...

Liquidity crisis, jobs at risk at Middle East airlines

The International Air Transport Association (IATA) said on Thursday that Middle East airlines are facing a liquidity crisis and hundreds of thousands of jobs...

Oil crashes would cost Iraq two-thirds of its net income

Iraq, which relies on oil revenues for more than 90 percent of its revenues, was set to face "vast economic pressures," said Fatih Birol,...

$20 bln to be offered by Oman central bank as extra liquidity

As one of several measures aimed at supporting the economy, Oman's central bank is preparing to provide some 8 billion Omani rial ($20.8 billion)...

Lebanon banks to shut amid Coronavirus

For the safety of employees during the Coronavirus outbreak, bank branches in Lebanon will close from March 17-29, the banking association said on Monday. It...

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