Expo body formally approves one-year delay to Expo 2020 Dubai

Dubai: The World Expo awarding body said on Friday its general assembly had approved a one-year postponement of Expo 2020 Dubai due to difficulties posed by the coronavirus pandemic, and the event would now start in October 2021. Earlier this month the Paris-based Bureau International des Expositions (BIE) said that the required consent of two-thirds […]

Saudi Arabia’s PIF gets $40b from foreign reserves to fund overseas investments

Riyadh:  Saudi Arabia transferred a total of 150 billion riyals ($40 billion) from central bank foreign reserves to fund investments by sovereign wealth fund PIF in March and April, the finance minister said on Friday. Saudi Arabia’s central bank foreign reserves fell in March by nearly $27 billion month-on-month, their fastest rate in at least 20 […]

COVID-19 response: Ras Al Khaimah launches integrated stimulus package to support its economy

Dubai: The Government of Ras Al Khaimah on Saturday announced the launch of a comprehensive integrated stimulus and incentive package to support the Emirate’s economy. Introduced in line with the ongoing efforts announced by the UAE aimed at easing the financial burden in the Emirate during the Covid-19 situation, the package forms part of Ras […]

India’s economic growth dips drastically during coronavirus pandemic

New Delhi: India’s economy grew by 4.2% in the fiscal year that ended in March, down from 6.1% the previous year, the government said on Friday, and is likely to contract this year because of the coronavirus pandemic. The growth dipped to 3.1% in January-March, the last quarter of the fiscal year, as the country […]

4 new and amazing offerings from National Bonds

The new offerings, which include the 2.5% USD Certificates, Booster 10, 2-Year Booster, and the 4 years Advance Booster, are expected to offer customers the opportunity to efficiently invest money and reap above average returns in comparison to leading banks and investment firms. 4 new amazing offerings from National Bonds Image Credit: Gulf News ReachMohammed […]

New York gold traders are drowning in a glut they helped create

New York: The New York gold market has been flipped on its head in just a couple of months, with a scramble for the metal turning into a glut. Earlier this year, traders who had sold contracts paid a steep premium to close positions after the coronavirus pandemic grounded flights, sparking worries about the ability […]