The Asian Development Bank headquarters in Manila. Reuters
The Asian Development Bank (ADB) approved $1 billion in immediate budget support to Pakistan to shore up the country’s public finances and help strengthen economy besides approving $300 million to support energy sector reforms.
The tranches were fully subscribed by a syndicate of leading UAE banks, the government statement said.
China’s banks extended new yuan loans in August as policymakers ratcheted up support for the slowing economy, and further policy easing is expected in coming weeks as the Sino-US trade dispute takes a bigger toll on the economy.
The State Bank of Pakistan (SBP) has announced that it had slashed the policy rate by 100 basis points to bring the interest rate to 7 per cent. “This decision reflected the Monetary Policy Committee’s (MPC’s) view that the inflation outlook has improved further,
The benchmark Nikkei 225 index rose 0.41 per cent, or 93.72 points, to 22,843.96, while the broader Topix index jumped 1.23 per cent, or 19.57 points, to 1,605.53.
The number of people in work in Britain has suffered the biggest drop since 2009 and signs are growing that the coronavirus will take a heavier toll on the labour market as the government winds down its huge job-protection scheme.
Emaar Malls reported revenue of Dhs1.657 billion ($ 451 million) in the first half of 2020. With a first-half net profit of Dhs345 million ($ 94 million) the result demonstrates the resilience of the business.
Dubai Land Department, in cooperation with Property Finder, launched the fourth edition of Mo’asher, Dubai’s official sales price index. The base year for Mo’asher is 2012 and the base month for the monthly index is January 2012,