Australia’s coveted ‘AAA’ credit rating came under threat on Wednesday as the country’s parliament discussed an emergency A$130 billion ($80 billion) stimulus package bill to help cushion the economic blow from the coronavirus pandemic.
The Bank of England (BoE) held off from further stimulus measures on Thursday but said it was ready to take more action to counter the country’s biggest economic slump in over 300 years, caused by the coronavirus lockdown.
Khalifa Industrial Zone Abu Dhabi has announced new packages with up to 36 per cent savings as relief for Freezone businesses, and support SMEs challenged by the global economic slowdown.
The Dubai Customs has extended a refund of 20 per cent on the customs fees imposed on imported products sold locally in Dubai markets from 15th March to 30th June.
The sixth edition of the Sharjah Economic Ramadan Majlis explored how the UAE’s economic stimulus packages have positively impacted major industry sectors.
The German government and Lufthansa, which has been hit hard by the coronavirus pandemic, have reached a preliminary deal on a 9 billion euro ($9.8 billion) bailout.
The move comes as part of the SCC’s keenness to enhance communication with community members as being their voice in illustrating the challenges they face.
The package forms part of Ras Al Khaimah’s continuous efforts to help private-sector companies face the challenges presented by the current coronavirus pandemic and to ensure continuity of business in all sectors.
Prime Minister Shinzo Abe’s cabinet approved a new $1.1tr stimulus package that includes significant direct spending, to stop the coronavirus pandemic pushing the world’s third-largest economy deeper into recession.