COVID-19 impact starts hitting Google

Silicon Valley: Google parent Alphabet Inc. is slowing hiring for the remainder of the year – the most drastic action by the web search giant since the COVID-19 pandemic began battering its advertising business several weeks ago. CEO Sundar Pichai told staff about the decision in an email on Wednesday. He also highlighted other areas […]

COVID-19, low oil prices to bring down Saudi fiscal revenues by 30%

Dubai: Saudi Arabia’s fiscal revenues are projected to decline by 25 to 30 per cent or about 8 per cent of the GDP this year, impacting its economic growth outlook, fiscal and extenal positions and the overall government debts, according to rating agency Moody’s. Accoriding to the rating agency, despite an increase in the share […]

A perfect storm for Middle East oil importing countries: IMF

Dubai: The outbreak of COVID-19 across the region is turning out to be a perfect storm for oil importing countries of the Middle East, according to the International Monetary Fund’s (IMF) Regional Economic Outlook. “Besides the potentially large humanitarian impact, the long-lasting economic impact of the crisis — including via an increase in unemployment rates […]

TransferWise launches online money transfer in UAE

Dubai: TransferWise, on Wednesday announced the launch of its low cost, fast money transfers in the UAE. TransferWise Nuqud is regulated under the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority, enabling people to send money from the dirham at the real mid-market exchange rate, using its platform. TransferWise is a global technology company […]