Virus disruptions and the crash in oil prices are crippling Arab economies. FMTNews Mideast
ABU DHABI: Three of the biggest Arab economies pledged almost US$47 billion in stimulus to limit the economic damage of the coronavirus outbreak, joining a global effort meant to soothe markets and salvage growth.
The UAE’s Targeted Economic Support Scheme includes a 50-billion dirham aid package for banks in the country through collateralised, zero-interest loans. “The purpose of the targeted scheme is to facilitate provision of temporary relief from the payments of principal and interest on outstanding loans for all affected private sector companies and retail customers in the UAE.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
More airlines could collapse if virus crisis lasts 2-3 monthsAir transport chief says revenue losses could be 'probably above' US$113 bil. FMTNews IATA
Read more »
Indonesia to shore up economy with US$8bil stimulus amid Covid-19JAKARTA: Indonesia has prepared a stimulus package worth 120 trillion rupiahs (US$8.1 bill) to accelerate the economic growth to counter the challenges of the Covid-19 (coronavirus) outbreak, the country's finance minister said on Friday (March 13).
Read more »
Stimulus hopes pull stocks back from abyssSINGAPORE: Stocks plunged on Friday with coronavirus panic selling hitting nearly every asset class - before finding some kind of floor as hopes turned to a U.S. stimulus package.
Read more »
US to spend US$50 bil, stockpile oil amid virus economic painPresident Trump's announcements cheered Wall Street after index suffered its worst day of trading since 1987. FMTNews Politics Economy Covid19 Coronavirus
Read more »
Electricity discounts for sectors affected by Covid-19The discount is among the measures to be implemented under the 2020 Economic Stimulus Package. FMTNews TNB Covid19
Read more »
GDP to drop by 0.8% to 1.2% because of Covid-19, says PMMuhyiddin Yassin says the stimulus package will be implemented so its benefits can be felt immediately. FMTNews Tourism
Read more »