Traders carry out routine work on the floor of the New York Stock Exchange. Reuters
The world’s largest oil exporter is facing a deep recession after the COVID-19 pandemic curbed global crude demand and measures to contain the coronavirus hurt domestic activity.
According to most estimates, the Indian economy will register a record contraction of over 4.5% in the current fiscal year that started on April 1 due to the pandemic.
A string of positive indicators from China to the US in recent weeks — as well hopes for a vaccine and the easing of lockdowns around the world — has added fuel to a global rally that has lifted equities out of the March depths.
Global banks face combined loan losses of $2.1 trillion by the end of 2021 as a result of the coronavirus crisis, credit ratings agency S&P Global estimates, with a hit of $1.3 trillion this year more than doubling the 2019 level.
Takahiko Shingai, Deputy General Manager and Director of Development Department at ADOC, said: ’’We are planning to expand our production facilities and increasing extraction rates."
Dubai Chamber of Digital Economy, one of the three chambers operating under the umbrella of Dubai Chambers, has launched ‘Business in Dubai,’
The UAE’s leading luxury real estate developer Damac Properties hosted an exclusive media tour to showcase its ambitious Damac Lagoons development,