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.
Prime Minister Imran Khan while taking notice of difficulties facing the applicants, instructed the State Bank of Pakistan (SBP) and National Bank of Pakistan (NBP) to facilitate those applying for low-cost housing loan under Naya Pakistan Housing Programme.
Exceptional loans should be made regardless of customer account limits, carry no interest and be repaid over five years.
The Indian Ocean archipelago, renowned for its luxury resorts, has been badly hit by the pandemic, with foreign tourists failing to flock back in large numbers after international flights restarted in mid-July.
In a major relief to thousands of individuals and MSME borrowers, the India’s central government in an affidavit informed the Supreme Court that it has taken a decision to waive ‘interest on interest’ (compound interest)
The Opec Fund for International Development has announced the signing of a $50 million term loan agreement with ACWA Power to support the construction and operation of a 1.5 gigawatt (GW) combined cycle gas-turbine power plant in Sirdarya, Uzbekistan.
China’s central bank (CB) offered medium-term loans to financial institutions on Tuesday in an attempt to get more affordable funds to struggling smaller firms, as it steps up efforts to support a slowing economy.
The International Monetary Fund Executive board approved a three-year, $6 billion loan package for Pakistan on Wednesday to rein in mounting debts and stave off a looming balance of payments crisis, in exchange for tough austerity measures.
The Central Bank of the UAE (CBUAE) is enhancing its reporting of Non-Performing Loans (NPL) for the UAE banking system to align its methodology with international best practices, in consultation with the International Monetary Fund.