Central bank defends decision to keep policy rate on hold; says decision was not lasting deviation from policy structure; lira hits fresh low of 8.3 against dollar, diving 28% this year
Kuwait’s central bank has cut interest rates on some monetary policy instruments in an effort to ease pressure on the currency while helping the economy cope with the impact of the Covid-19 pandemic.
It’s been a baptism by fire for Christine Lagarde whose first year as head of the European Central Bank has been dominated by the coronavirus pandemic and the drastic action needed to keep the eurozone economy afloat.
Goods trade deficit decreases 4.5% in September; retail inventories jump 1.6%; third-quarter GDP seen rebounding at a 31% rate
The fresh surge in coronavirus cases across the United States and Europe weighed on stock markets yesterday, while investors have essentially given up on the chances of a new stimulus out of Washington.
Real estate debt investors are stockpiling cash, searching for opportunities to lend to commercial-property owners hurt by the pandemic.
Qatar-based CEOs remain optimistic about the growth prospects for the country, although confidence in the global economy has fallen, a recent KPMG survey has shown.
Driven by a “favourable” foreign exchange environment, Ooredoo Group’s nine-month net profit jumped 16% year-on-year to QR1.5bn, the global telecom company said last night.
United Development Company (UDC) posted a net profit of QR123mn on revenues of QR849mn for the third quarter of 2020.
During one of the most volatile years for US stocks in decades, the least-loved strategy in the $1tn world of smart-beta is one aiming to protect investors from the turmoil.