Coronavirus: European Central Bank launches mammoth 750b euro debt purchase

Frankfurt: The European Central Bank launched a 750 billion euro (Dh3.01 trillion) emergency bond purchase scheme after an unscheduled meeting on Wednesday, attempting to stem a spiralling economic and financial crisis. With much of Europe in lockdown amid the coronavirus outbreak, economic activity has come to a near standstill and markets have been in a […]

Coronavirus: Saudi Arabia announces 50b riyal budget cut

Cairo: Saudi Arabia’s government has agreed on cutting 50 billion riyals ($13.32 billion), representing less than 5 per cent in its 2020 budget, in areas that have the least social and economic impact, state news agency (SPA) reported on Wednesday citing Finance Minister Mohammed Al Jadaan. “The government took measures to curb impact of oil […]