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KUWAIT- Kuwait imposed necessary measures on Wednesday aimed at aiding its economy from threats of the novel coronavirus. The arrangement involves long-term loans while the central bank requested other banks to implement unrestricted loan repayments for the affected businesses and firms.
Kuwait’s March 31 record showed that 289 coronavirus cases were added to the list. Such an increase was monitored despite being the first Gulf state to implement travel restrictions and impose curfew to contain further contagion of the virus.
Several sectors including aviation, hospitality, and real estate greatly suffered from the impact of the deadly respiratory disease. This prompted the cabinet to allocate a stimulus package as support for small to medium-sized businesses. Moreover, the said scheme mandates government agencies to pay obligations immediately to private enterprises.
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
The outlook for India’s struggling economy has darkened further on weak business activities and surging virus cases. This will likely prompt the Reserve Bank of India to lower interest rates again, a Reuters survey showed. According ...
On Monday, Remington Arms Co. filed for bankruptcy protection for the second time since 2018 as the U.S. firearms manufacturer faced financial difficulties due to gun sales restrictions. According to the court filing, the company filed for ...
Australia had seen its employment rate dropping 1.1% between mid-June and mid-July, weekly data showed on Tuesday. In addition to this, the southeastern state of Victoria recorded the sharpest plunge in employment as the state suffers from ...
Japan’s first-quarter business spending came smaller than what was initially estimated, revised data showed on Monday. This underscored a sharper damage that the novel coronavirus pandemic had inflicted on the world’s third-biggest ...
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