‘What’s the point of staying?’: Gulf faces expatriate exodus
The Middle East is headed for an economic downturn this year that dwarfs 2008 and 2014/2015 as countries are hit by the double blow from coronavirus closures and record low oil prices
Trade & Economy
Nearly half of global workforce at risk as job losses increase due to COVID-19: UN
Some 1.6 billion people employed in the informal economy – or nearly half the global workforce – could see their livelihoods destroyed due to the continued decline in working hours brought on by lockdowns to curb the spread of COVID-19, the International Labour Organization (ILO) said on Wednesday.
Oil prices fall on brimming storage, bleak recovery prospects
Although the world economy may start to recover as more countries allow businesses to reopen, analysts say prospects for oil prices remains gloomy.
Sri Lanka to seek $400 million financial facility from India’s RBI
The facility from the RBI is aimed at boosting the island nation’s foreign reserves.
Increase in cyber attacks: WHO
Since the start of the COVID-19 pandemic, WHO has seen a dramatic increase in the
‘This Has Changed Everything’: Saudi Economy Shaken by Oil Crash
The meltdown in oil markets is turning back the economic clock for Saudi Arabia, putting it on track for the deepest contraction in two decades.
TCS to power Israel’s first fully digital bank
The yet-to-be-named digital bank is the first to receive a banking license in Israel in over 40 years and is to be launched in 2021.
Fifty shades of the IMF: The case of Turkey
By Güldem Atabay The Turkish economy may be going through difficult times, just like other
Opec sees demand for its crude dropping to lowest in 30 years
Opec sees world oil demand contracting by 6.8 million barrels a day in 2020
Asian markets down on virus impact fears
Oil has plummeted in recent weeks as coronavirus lockdowns depressed demand, and the crisis was made worse by a pricing war between top producers Saudi Arabia and Russia.