German Finance Minister Olaf Scholz and Saudi Minister for Finance Mohammed Al Jadaan walk to the G20 meeting hall in Riyadh on Saturday. Reuters
In a statement issued on Tuesday by the Kingdom, the G20 will act, alongside international organisations, in any way deemed necessary to alleviate the impact of the pandemic. G20 Leaders will put forward a coordinated set of policies to protect people and safeguard the global economy.
G20 finance ministers and central bankers agreed during a separate video conference on Monday to develop an "action plan" to respond to the outbreak, which the International Monetary Fund expects will trigger a global recession.
The Kingdom of Saudi Arabia will host the 15th annual G20 Leaders' Summit in November 2020 in its capital, Riyadh.
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.