Asian central banks flag growth concerns with surprising rate cuts

Wellington/Mumbai: Asia central banks signalled major concerns on Wednesday about the outlook for economic growth, stunning markets with a series of surprising interest rate cuts and pointing to policymakers’ dwindling ammunition to fight off a downturn. The moves came after trade tensions and slowing global growth prompted the US Federal Reserve to cut rates for […]

Egypt receives $2b IMF loan tranche

CAIRO: Egypt’s finance minister says his country has received the final $2 billion (Dh7.34 billion) portion of a bailout package from the International Monetary Fund. The minister, Mohammed Moait, said late on Monday that Egypt has completed an ambitious reform program designed to overhaul its ailing economy. The program included austerity measures to meet requirements […]