Asian markets mostly down as traders fret over virus

HONG KONG:  Most Asian equities retreated Wednesday after a two-day rally as investors closely track developments in the coronavirus crisis, while the oil market continued to fluctuate ahead of a crucial producers’ meeting. While the deadly disease continues to sweep across the planet, signs that the rate of infections is possibly levelling out and countries […]

Lebanon crisis plan seeks $10b to $15b external funding

Beirut: Lebanon needs external financing of $10 billion-$15 billion over the next five years to help it through its financial crisis, according to a draft government plan seen by Reuters. The draft plan, which is being discussed by the cabinet, was dated April 6 and marks the most comprehensive blueprint yet on tackling the crisis. […]

EU fails to agree on 500b-euro response to virus crisis

Brussels: European Union finance ministers failed to agree on a 500 billion-euro ($543 billion) package to mitigate the economic impact of the pandemic, prolonging a paralysis that casts doubt over the bloc’s ability to weather the crisis. Italian bonds fell. In an emergency teleconference that lasted more than 16 hours, finance chiefs couldn’t reconcile their […]

India set to announce bigger economic package to fight COVID-19

New Delhi: The government may come out with another big package to address the demand and supply side issues facing the country, but its contours and timing of the announcement is yet to be worked out, senior government officials privy to the development said. They added that the next economic stimulus package would be bigger […]

COVID-19 poses huge risks to global remittances

New York: The amount of money migrant workers send to their home countries usually holds up well in a crisis. Not this time. Waves of job losses among overseas workers and international border closures are sapping the $690 billion annual flow of global remittances at a time when many emerging economies need hard currency more […]

The nine-step legal checklist for start-ups

Being an entrepreneur in the UAE is easier than assumed. Entrepreneurs just need a little common sense, forward-thinking approach and a holistic view. Here’s a checklist to help start a business in the right way: 1. Get a licence Do not perform any commercial activity without a licence. Identify the correct type of licence and […]