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Gold gains as gloomy US economic outlook dents dollar

21 Aug 2020

Gold prices rose on Friday after bleak U.S. jobless claims data reinforced fears of a slower recovery from the coronavirus-induced economic crisis, denting the dollar and U.S. Treasury yields. ...

India’s diamond industry hit by pandemic; workers seek new jobs

16 Aug 2020

Global diamond supply chains convulsed by the coronavirus pandemic and most workers in India’s diamond industry switched to other jobs. Miners seek new supply deals to boost margins and mines...

Lebanon central bank tells banks to make cheap dollar loans to those hit by Beirut blast

06 Aug 2020

Lebanon's central bank on Thursday instructed banks and financial institutions to extend exceptional dollar loans at zero interest to individuals and firms impacted by the Beirut port explosion. Money...

Oil prices rise as US crude inventories show large drop

05 Aug 2020

Oil prices rose on Wednesday after inventory data showed a big drop in U.S. crude stocks although gains were capped by concerns over fuel demand with mounting global COVID-19 cases....

HSBC speeds up plans to axe 35,000 jobs worldwide as profits dive

03 Aug 2020

HSBC will accelerate plans to cut 35,000 jobs after profits plunged 65 per cent in the first half of the year. Europe's biggest bank said it...

Maruti sees no economic logic for buying diesel cars in India

12 Jul 2020

With parity between the prices of petrol and diesel, there is no economic logic for buying diesel cars as with the same running cost, the acquisition cost differential is very...

Qantas to slash 6,000 jobs

25 Jun 2020

Qantas Airways is axing at least 20% of its workforce and intends to raise up to A$1.9 billion ($1.3 billion) of equity under a sweeping cost-saving plan prompted by the...

Govts spend $10tr to combat virus, far more needed: IMF

11 Jun 2020

Governments around the world have spent $10 trillion in fiscal actions to respond to the novel coronavirus pandemic and its economic fallout, but significant further efforts are needed, the head...

Abu Dhabi issues new COVID-19 guidelines for businesses

15 May 2020

Gulf Today, Staff Reporter The Abu Dhabi Department of Economic Development (ADDED) has issued new guidelines for businesses to ensure workplace health & safety and to support employee needs,...

Bank of Japan expands stimulus as pandemic pain worsens

27 Apr 2020

The Bank of Japan expanded monetary stimulus on Monday and pledged to buy an unlimited amount of bonds to keep borrowing costs low, as the government tries to spend its...

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