Washington: The U.S. House of Representatives on Friday narrowly approved a $3 trillion bill crafted by Democrats to provide more aid for battling the coronavirus and stimulating a faltering economy rocked by the pandemic. By a vote of 208-199 Democrats won passage of a bill that Republican leaders, who control the Senate, have vowed to block […]
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Abu Dhabi: Global oil demand could be down by 8.6 million barrels per day (mbd) this year, from an earlier estimate of 9.3 mbd after gains were seen as cities worldwide eased lockdowns and allowed movement of people and vehicles. “The outlook has improved somewhat and prices, while still far below where they were before […]
Dubai: Saudi Arabia is stepping up its investments in local agriculture and farming projects abroad at a time when the coronavirus pandemic prompts some nations to review how they feed their people. Following the Covid-19 outbreak, the kingdom introduced two initiatives worth 2.5 billion riyals ($665 million) to support farmers and facilitate food imports, said […]
Mumbai: India’s battle-scarred bankers are hoarding cash and reluctant to lend to smaller firms, forcing the government to ride to the rescue of millions of companies struggling for survival during the nationwide lockdown. The lenders are accepting penalty rates to keep a record $92 billion (Dh337.64 billion) a day with the Reserve Bank of India […]
Phase 2 of ‘Vande Bharat Mission’ has officially begun, there will be 18 repatriation flights from the UAE to India.
The first flight would arrive at the Cochin airport from Dubai, while the second one would be from Abu Dhabi to Thiruvananthapuram and another one to Kozhikode.
Berlin: The German economy shrank 2.2 per cent in the first quarter – the most in more than a decade and offering an early flavor of the damage from the coronavirus outbreak. Less than two weeks of official lockdown caused slumps in consumer spending and capital investment. Government spending and construction provided some stabilization. A revision to […]
BALTIMORE: US retail sales tumbled 16.4 per cent from March to April as business shutdowns caused by the coronavirus kept shoppers away, threatened stores across the country and weighed down a sinking economy. The Commerce Department’s report Friday on retail purchases showed a sector that has collapsed so quickly that sales over the past 12 […]
Dubai: Oman will cut the budgets of government bodies and the armed forces by a further 5% this year, as part of measures to offset the impact of falls in oil prices, the state news agency cited a finance ministry statement as saying on Wednesday. The budgets had already been cut by 5% in mid-April in […]