People walk past an electronic board showing the share index outside a local bank in Hong Kong on Wednesday. Associated Press
The Saudi central bank said last week it had prepared a 50-billion riyal ($13.32 billion) package to help banks and small and medium-sized enterprises cope with the economic impact of the coronavirus.
China moved again to cushion its economy, cutting a key medium-term interest rate to record lows, paving the way for a similar reduction in benchmark loan rates, while reducing the amount banks must hold as reserves.
NEW YORK: Wall Street treaded water on Wednesday after moves in the US bond market brought back fears of a recession as a bruising U.S.-China trade war drags on, while a rise in energy shares offered support.
Global stocks mostly rose on Tuesday with the prospect of a US interest rate cut and broader central bank dovishness helping to offset lingering US-China trade war tensions. Bourses in Paris, Frankfurt and London all rose, along with Tokyo, Hong Kong and Shanghai. But Wall Street finished slightly lower,
Saudi Arabia’s gross domestic product (GDP) has exceeded the ceiling of SAR 4.155 trillion ($1 trillion) for the first time, with the Kingdom joining the trillion-dollar
Abdullah Mohamed Al Mazrouei, Chairman of the Federation of UAE Chambers of Commerce and Industry (FCCI) and Chairman of Abu Dhabi Chamber of Commerce and Industry,
The Federal Tax Authority (FTA) has signed a Memorandum of Understanding (MoU) with the Umm Al Quwain Chamber of Commerce and Industry