COVID-19: Dubai Silicon Oasis Authority offers rent waivers and other incentives to businesses, residents

Dubai: Dubai Silicon Oasis Authority (DSOA) announced exemptions, incentives and flexible payment plans for companies, commercial tenants, and residents occupying buildings owned by the Authority. DSOA exemptions were announced to support business continuity and enable its partners to overcome the effects of the current economic slowdown following the outbreak of the COVID-19 pandemic, The regulatory […]

COVID-19 impact: Record government and corporate debt in US risks ‘tipping point’

Wsahington: The United States is embarking on a rapid-fire experiment in borrowing without precedent, as the government and corporations take on trillions of dollars of debt to offset the economic damage from the coronavirus pandemic. The federal government is on its way this year to spending nearly $4 trillion more than it collects in revenue, […]

Oil prices see little room for momentum in face of demand loss

Abu Dhabi: After a brief sense of optimism for oil prices in the wake of production cuts by Opec+, oil markets are back to the reality of grappling with heavy losses in demand, analysts say. Oil markets on Friday closed on a weekly loss, with Brent trading on $28.08 and West Texas Intermediate (WTI) on […]

Fighting COVID-19: Private creditors can help Africa fund $44b gap, IMF says

Washington: The International Monetary Fund (IMF) is hoping more private commercial holders of African bonds will join a global push for debt relief as the continent faces a $44 billion shortfall in its fight against the effects of the Covid-19 pandemic. The IMF estimates that Africa needs $114 billion in 2020 to spend on health […]