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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 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.
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 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.
Payments of the massive coronavirus stimulus approved by leaders of the European Union will start in the second half of next year.
Unconventional financial tools such as frequent liquidity injections may restore credit flows and facilitate recovery but run the risk of asset price overvaluation, said Dr. Patrick Lenain, Assistant Director at the OECD, France.
Spot gold rose 0.3% to $1,869.06 per ounce by 05:04 GMT, having touched its highest since Nov. 23 of $1,871.52 earlier in the session. US gold futures were up 0.4% at $1,873.50.
Stocks rebounded on Tuesday, with Washington’s approval of an $892 billion pandemic relief package helping them recover some of the losses caused by fears over a highly infectious new strain of COVID-19.
Stocks are recovering on Wall Street Wednesday after President Donald Trump appeared to backtrack on his decision to halt talks on another rescue effort for the economy.