Labourers at work on a construction site in Karachi, Pakistan. File/Reuters
Pakistan’s largest real estate portal, Zameen.com, successfully kicked off the third edition of its annual Pakistan Property Show (PPS) in Dubai on Friday.
The UAE’s property sector is in fine fettle and is marching ahead despite the COVID-19 challenges. The country’s real estate investors and developers have lauded the UAE government’s smart initiatives in fight against the virus.
Pakistan’s foreign direct investment (FDI) has improved by 88% in fiscal year 2020 to $2.56 billion with major investment coming in the power and telecommunication sectors from China and Norway respectively.
As the Bank of Japan (BOJ) tries to pump more funds to companies hit by the coronavirus pandemic, it is offering banks hundreds of millions of dollars in bonuses, a move analysts say is aimed at easing the side-effects of its negative interest rate policy.
TUI, the world’s largest tourism company, lost 1.1 billion euros ($1.3 billion) after COVID-19 wiped out revenue in the three months through June and said it was evaluating its options to achieve an optimal balance sheet structure.
The industry was hit twice because of the coronavirus, with export orders evaporating and then a shortage of workers caused by a national lockdown to stop the spread of the virus.