There is widespread fear that NPAs of the banks will witness a surge due to the economic slowdown triggered by the COVID-19 outbreak and resultant lockdowns.
UAE Non-Oil Private Sector Jumps Back to Growth in June – PMI
“At 50.4 in June, the UAE PMI signalled the first stage of recovery in the non-oil private sector. More firms are now seeing an increase in activity as opposed to a decline, while …
Saudi Arabia Is Bullying OPEC Members Into Compliance
Saudi Arabia has threatened OPEC members Angola, Nigeria and Iraq that it could start a new oil price war if the countries don’t comply with output cuts …
Faked Philippine Records Left False Trail for Wirecard Executive
Faked immigration records in the Philippines were used to throw off authorities seeking a former executive at Wirecard AG, who went missing after the German firm was implicated in an accounting …
Philippine Economy Must Reopen Soon, Finance Secretary Says
The Philippines will keep the central city of Cebu under strict lockdown as it posts the most coronavirus cases, while restrictions in the capital will be eased further as government seeks to reopen …
Bangladesh-based SOLshare closes $1.1m financing round
Bangladesh-based SOLshare has closed a $1.1 million financing round and the off-grid solar energy marketplace firm will use the fund to bring smart solar micro-grids to off-grid, underserved …
America loves India, says US President Donald Trump
US President Donald Trump has said that America loves India as he thanked PM Narendra Modi for greeting him on the occasion of the 244th Independence …
Jordan- ‘More than ever, we need a stable UNRWA’
UNRWA on Thursday held a virtual meeting with its advisory commission to discuss what its commissioner general has called its ‘greatest challenge’ — financial stability. The funding gap in UNRWA’s pro …
What Saudi Arabia’s big bank merger says about the kingdom’s economy
The $15.6bn deal to combine National Commercial Bank and Samba would create a banking giant in terms of loans with almost a 30% market share in the kingdom …
UPDATE 1-Armenia property tax reform raises gentrification fears
A property tax rise in Armenia risks forcing elderly people from homes they have lived in since the Soviet era and which have risen dramatically in value since then, critics have warned. The reform …