Traders work on the floor of the New York Stock Exchange on Friday. Associated Press
Asian and European stocks advanced on Tuesday, after Wall Street reached record peak on easing investor concerns over the economic impact of China’s coronavirus outbreak.
Global stock markets sank on Friday following more signs that the COVID-19 pandemic would take a massive toll on economic growth, while oil prices continued to rally on hopes of a cut to global supply.
Robust earnings from Google-owner Alphabet and Twitter took the S&P 500 and Nasdaq indexes close to record levels on Friday, with data showing the domestic economy slowed lesser than expected in the second quarter providing support.
The Saudi energy minister told a conference of the G20 group of the world’s largest economies on Friday that ensuring affordable energy supply is key to facilitating a global economic recovery.
Al Ghandi Auto, the sole retailer for Cadillac in United Arab Emirates and GMC and Chevrolet dealer for Dubai and the Northern Emirates, has launched its Stay At Home courtesy service in a bid to curb social interaction and limit the spread of COVID-19.
If the India lockdown continues till mid-May along with moderate relaxation after the end of 21-day lockdown on April 14, it could put 32 million livelihoods at risk and swell non-performing loans (NPLs) by seven percentage points,
India’s foreign exchange reserves declined by $902 million during the week ended April 3. According to the RBI’s weekly statistical supplement, the overall forex reserves decreased to $474.66 billion from $475.56 billion reported for the week ended March 27.