Egypt’s working poor suffer Virusoutbreak
One third of Egypt's population of more than 100 million lives in poverty, surviving on about $1.50 or less a day.
For many who were...
Virusoutbreak further damages Iran’s economy
The escalating Coronavirus outbreak in Iran - the worst-affected country in the Middle East - has killed 3,872 people and infected 62,589.
The outbreak has...
Businesses devastated by the Virus outbreak
The Department of Labor in the U.S. reported more than 6.6 million Americans applied for unemployment benefits last week, far exceeding a record high...
Lebanese pound weakens during a coronavirus lockdown
Since the government declared a medical emergency on March 15, Lebanon's cash-strapped banks have limited their services to critical imports and paying out salaries...
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...
