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    Australia's central bank sees steep contraction of economy

    05 May 2020

    Australia's central bank on Tuesday forecast the economy would suffer its largest ever contraction in the first half of the year, sending the unemployment rate into double-digits.

    Dubai external trade reaches Dhs323 billion in Q1 2020

    06 May 2020

    The city’s external trade in the first quarter of 2020 reached Dhs323 billion. Exports grew 2 percent to Dhs43 billion compared to the corresponding quarter last year.

    Unified legislative framework for Islamic finance launched

    06 May 2020

    The Islamic finance sector will benefit greatly from a unified international legal and legislative framework. After its formulation and subsequent approval by internationally accredited relevant authorities, says Sheikh Hamdan.

    EasyJet axes up to 30 per cent of staff on coronavirus fallout

    28 May 2020

    The COVID-19 outbreak has devastated the global aviation sector, with passenger numbers slumping during lockdown measures as air travel demand evaporates. EasyJet follows competitors British Airways, Ryanair and Virgin Atlantic, which have all slashed staff numbers to save costs.

    Incoming economic activity data spectacularly weak in India: Fitch

    27 May 2020

    India’s stringent lockdown norms have lasted longer than expected, said Fitch Ratings as it further reduced India’s GDP forecast to (-) 5 per cent from an earlier projected growth of 0.8 per cent for the current fiscal.

    ‘UK economy struggles to recover from COVID-19 blow’

    29 May 2020

    Britain’s economy is unlikely to recover fully from the “searing experience” of the coronavirus in the next two to three years, Bank of England (BoE) policymaker Michael Saunders warned.

    India quarterly growth worst in two decades as lockdown bites

    29 May 2020

    India’s economy grew at its slowest pace in at least two decades last quarter, government data showed Friday, with warnings of far worse to come as it grapples with the fallout of the world’s largest coronavirus lockdown.

    UK public debt soars to highest since 1963, retail sales go down

    22 May 2020

    A measure of British public debt leapt to close to 100% of the country’s economic output in April, its highest in nearly 60 years, and retail sales slumped by a record 18% as the coronavirus crisis hammered the economy.

    Ajman Free Zone completely digitises its business set-up

    01 May 2020

    As part of its efforts to further improve the efficiency of its services using fast and reliable digital solutions, Ajman Free Zone has announced its strategic move to link its digital services with Ajman Pay,

    Pakistan’s inflation eases as COVID-19 hammers economy

    01 May 2020

    Pakistan’s consumer price inflation eased to 9.5% in April, its statistics office said on Friday, extending a months-long decline as the economy tanks due to the coronavirus crisis despite three interest rate cuts.

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