‘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.
Trade & Economy
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.
Twenty five Countries to Receive Debt Relief Service from IMF
Debts will be relieved by the International Monetary Fund (IMF) as part of strengthening global efforts against COVID-19.
IOC gets 1st shipload of oil from UAE to fill strategic reserves
The storages at Mangalore and Padur are half-empty and there was some space available in Vizag storage as well. These will now be filled by buying oil from Saudi Arabia, the UAE and Iraq.
US employment plunges in March amid worsening coronavirus damage
The total unemployment rate rose from a 50-year low of 3.5 per cent to its highest level since August 2017.
Only India, China to survive coronavirus, rest of the entire world economy will go into recession: UN
With two-thirds of the world’s population living in developing countries facing unprecedented economic damage from the COVID-19 crisis, the UN is calling for a USD 2.5 trillion rescue package for these nations.
World has entered recession due to COVID-19, says IMF
The key to recovery in 2021, the IMF said, is only if the international community succeeds in containing the coronavirus everywhere and prevent liquidity problems from becoming a solvency issue.