UAE economy recovering fast, says Central Bank governor.
Banks lessen use of Central Bank’s Covid-19-induced stimulus package.
Banks in the UAE have reduced the use of Central Bank’s Targeted Economic Support Scheme (TESS), which was launched last year in a bid to support local financial institutions and the private sector against the Covid-19 pandemic and also to ensure liquidity in a depressed market.
Joe Biden: The team he hopes can fix the US economy
President Joe Biden has vowed to heal America’s economy from the pandemic with a large dose of economic stimulus – including immediate relief and investments in green jobs, infrastructure and more. He’s called on a team of Ivy League trained economists and lawyers, well-versed in the ways of Washington, to turn his vision into reality.
Inflation: Cost of living up despite Covid Christmas curbs
Prices rose at a faster rate in the UK in December, despite Covid curbs that forced non-essential shops to shut. Consumer Prices Index inflation jumped to 0.6%, from 0.3% in November, pushed higher by rising transport and clothes prices, the Office for National Statistics (ONS) said.
The unemployment rate is above 20% for the lowest-paid workers, Fed’s Brainard says
Unemployment for the lowest-paid workers in the U.S. is above 20%, a figure that Federal Reserve Governor Lael Brainard said underscores the importance of policy help for the economy.
Financial Wellness Month: How did you do on financial goals for 2020? Here’s what to do for a better 2021
It may be especially important for families to assess their financial health for the new year. The coronavirus pandemic had a major impact — 42% of households said incomes are still below pre-pandemic levels, according to a Bankrate survey, in which YouGov polled 2,750 adults.
Brexit: EU and UK negotiators resume trade talks in London
EU and UK officials will resume trade talks in London later at the start of another key week for the negotiations.
China’s food imports boost world’s economy
China is contributing to the world economy during the COVID-19 pandemic with strong imports of food, said a top official of the country’s Ministry of Commerce on Saturday at the third China International Import Expo.
There are ‘pretty high’ risks of the U.S. economy backtracking, Moody’s economist warns
The U.S. economy, which has shown signs of recovering, could see its prospects turn given the intensifying spread of Covid-19 in the country and a lack of additional support measures, said Mark Zandi, chief economist of Moody’s Analytics.
Private payroll growth slows in October, well below expectations
Private job creation showed a sharp deceleration in October as the U.S. economy struggled against a resurgent coronavirus pandemic, according to a report Wednesday by ADP.
U.S. manufacturing near two-year high in October
U.S. manufacturing activity accelerated in October, with new orders jumping to their highest level in nearly 17 years amid a shift in spending toward goods like motor vehicles as the COVID-19 pandemic drags on.The Institute for Supply Management (ISM) said on Monday...
China’s manufacturing sector expands for sixth straight month as pandemic fallout fades, private survey shows
The Caixin/Markit Purchasing Managers’ Index for Chinese manufacturing came in at 53.6 for October, better than the 53.0 forecast by analysts in a Reuters poll.The latest reading was the highest since January 2011, the survey results showed.Over the weekend, China...
Fed lowers minimum loan level for small business lending program
The Federal Reserve has lowered the barriers on its lending program for smaller businesses as part of an effort to broaden the appeal of the sparsely used facility.
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