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COVID-19 TOTAL DAILY
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Gulf economies to shrink by 7.6pc this year, IMF says
Middle East

Gulf economies to shrink by 7.6pc this year, IMF says

  • "We expect the GCC economies to contract by 7.6% this year, the contraction will be across all sectors, oil and non-oil."
  • Saudi Arabia's central bank governor said instead that the kingdom expects its economy to fare better than forecast by the IMF.
Published Jun 30, 2020 07:28pm
Saudi, US officials call for extending UN arms embargo on Iran
Middle East

Saudi, US officials call for extending UN arms embargo on Iran

  • The arms curbs on Iran are due to expire in October under the terms of Tehran's 2015 nuclear deal with world powers.
  • Despite the embargo, Iran seeks to provide weapons to terrorist groups, so what will happen if the embargo is lifted? Iran will become more ferocious and aggressive.
Published Jun 29, 2020 08:25pm
IMF sees sharper than anticipated recession in Saudi Arabia
Middle East

IMF sees sharper than anticipated recession in Saudi Arabia

  • In an update of its April World Economic Outlook forecast, the IMF said it now expects a deeper global recession in 2020.
  • The disruptions due to the pandemic, as well as significantly lower disposable income for oil exporters after the dramatic fuel p
Published Jun 24, 2020 07:59pm