Workers, wearing face masks, rope a container ship at the port in Qingdao, Shandong province. Reuters
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.
Japan’s government slashed its economic growth forecast for this year largely due to weaker exports, in a sign the protracted US-China trade war is taking a bigger toll on the world’s third-largest economy.
World stocks held near two-month lows on Tuesday as slightly more optimistic comments from US and Chinese officials on trade brought some comfort, a day after equities suffered their worst selloff so far this year.
The impairment provisions for the eight banks increased by about 103 per cent during the first nine months of 2020 to Dhs16.6 billion, compared to Dhs8.2 billion for the same period in 2019.
The Federal Tax Authority (FTA) Board of Directors, chaired by Sheikh Hamdan Bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, and Chairman of the Authority’s Board of Directors,
China’s factory activity expanded at a slightly slower pace in October but was slightly above analysts’ expectations, suggesting a continuing economic recovery as the country rebounds from the coronavirus shock.