Bumpy road ahead for UAE banks chasing Indian debtors despite new legal deal

Dubai: Recovering billions of dirhams from loan defaulters who have fled to India won’t be easy for UAE banks even after a new India-UAE civil procedure, industry experts told Gulf News. India’s recent announcement about the UAE civil court judgements being eligible for execution through Indian courts is expected to be a deterrent for potential […]

World Bank unveils $12b coronavirus aid package

Washington: The World Bank unveiled a $12 billion (Dh44 billion) aid package on Tuesday that will provide fast-track funds to help countries combat the coronavirus outbreak. “The goal is to provide fast, effective action that responds to country needs,” World Bank President David Malpass told reporters. He said it is critical to “recognize the extra […]