Kuwait taps wealth fund as cash dries up

Kuwait: Kuwait’s government has transferred the last of its performing assets to the country’s sovereign wealth fund in exchange for cash to plug a monthly budget deficit of $3.3 billion, a person familiar with the matter said, leaving one of the world’s richest nations with few options to pay its bills. Fitch on Wednesday cut […]

UAE’s non-oil economy shows signs of growth improvement in 2021

Duba: Latest Purchasing Managers’ Index (PMI) data for the UAE pointed to an  improvement in non-oil operating conditions at the start of 2021, as expansions in both output and new orders supported a renewed rise in employment. The report showed that the pace of demand growth eased from December amid increased uncertainty around future coronavirus disease […]

India’s ‘cash for clunkers’ scheme eyes $1.4 billion investment

India will make public within 15 days details of a “cash for clunkers” scheme which would spur around 10 billion rupees ($1.4 billion) in new investment and create as many as 50,000 jobs, road transport minister Nitin Gadkari said on Monday. India’s finance minister Nirmala Sitharaman said in her budget speech earlier on Monday there […]