Photo has been used for illustrative purposes.
The UAE Central Bank has announced that gross bank assets, including bankers’ acceptances, rose by 0.6 per cent, climbing from Dhs2958.6 billion at the end of June 2019 to Dhs2975.8 billion at the end of July 2019.
Under the new law, legal action may not be taken against debtors if they invoke their insolvency status and begin the process of restructuring their debt.
The total foreign assets of the Central Bank of the UAE (CBUAE), were valued at Dhs405.94 billion in February 2020, according to the latest figures released by the central bank.
The US economy unexpectedly added jobs in May after suffering record losses in the prior month, offering the clearest signal yet that the downturn triggered by the COVID-19 pandemic was probably over, though the road to recovery could be long.
Canadian plane and train maker Bombardier said on Friday it would cut 2,500 jobs, or about 11% of the workforce at its aviation unit, as the coronavirus pandemic’s crushing impact on the air industry adds to its long list of problems.
The COVID-19 pandemic has introduced unique market pressures and challenges across industrial sectors. In the context of the real estate industry in the UAE, the crisis interrupted a process of steadily building renewed growth.
Germany has become the second major European Union (EU) economy to use a multi-billion-euro recovery plan to spur clean driving, with incentives for electric cars that should boost Volkswagen (VW) and Tesla, while polluting sport utility vehicles (SUVs) face higher taxes.