Gita Gopinath. File
News from the economic front is a mixed bag. By all accounts the immediate outlook is bad. But the chances of an early recovery are said to be bright.
The economic fallout from the coronavirus pandemic could inflict “significant scarring” worldwide and the outlook for recovery remains highly uncertain, IMF chief economist Gita Gopinath said on late Friday.
Pakistan’s rupee dropped to an all-time low of 146.5 to the dollar on Thursday, days after Islamabad announced it had reached an agreement with the International Monetary Fund on a fresh bailout for its troubled economy.
The government has stated that its reform agenda signed with International Monetary Fund (IMF) is on track and the progress so far on nearly all the performance and structural benchmarks for first quarter of the current fiscal year
World stocks remained on course for their best month ever on Friday as recent vaccine progress, Joe Biden’s US presidential election win, hopes for further stimulus, a commodity surge and descending dollar all lifted the spirits.
Ras Al Khaimah: Ras Al Khaimah International Airport (RAK Airport) on Friday welcomed the first scheduled SpiceJet passenger flight, with the aircraft’s arrival heralding the commencement of both a new phase of operations for the UAE transport
The UAE has taken a leadership role in the Middle East region in technology adoption in real estate sector. Dubai has largely been responsible for changing the mindset when it comes to adopting new technologies.