Banks in Qatar should have an initial three-pronged transition strategy as regulators across the globe strategise moving away from Libor (London Interbank Offered Rate) on which 25% of their financial products are linked, according to KPMG Qatar, a global consultant.
As governments rushed out funding to prevent an economic collapse amid the coronavirus pandemic, global public debt swelled to the highest in history, but the IMF warned Friday that cutting back too soon could undermine the recovery.
The plot thickens in the spectacular collapse of payment provider Wirecard: the Austrian man at large over Germany’s worst financial fraud scandal may also have had links to secret services.
A new World Bank policy brief on the tourism sector of South Asia estimates that the potential loss to Pakistan’s gross domestic product (GDP) due to the impact of Covid-19 pandemic would be $3.64bn, while Khyber Pakhtunkhwa province is likely to suffer $10mn to $20mn in losses.
Japan’s economy will shrink at the fastest pace in decades in the year through March 2021, forcing the government to compile another stimulus package to cushion the blow from the coronavirus pandemic, a Reuters poll showed yesterday.
The chief executive officer of Asia’s largest IT services firm warned that a US freeze on thousands of employment visas will only raise costs for American corporations like Wall Street banks, auto manufacturers and drugmakers.
European and US stocks advanced yesterday on optimism over the chances of an EU economic stimulus plan and fresh hopes for coronavirus treatments. Traders nonetheless continued to track rising virus infection rates and braced for next week’s corporate earnings reports.
Vanguard Group Inc, the New York Stock Exchange and Nasdaq Inc are pushing back on an escalating risk to their bottom lines: Threats from Capitol Hill and the Trump administration to dramatically curtail US investments in Chinese companies.
Asian markets sank yesterday as rising virus infection rates across the world put the brakes on the latest rally.
European Council President Charles Michel yesterday sought to offer concessions to countries across the EU in plans for the EU’s long-term budget and economic recovery, hoping to bridge differences between national leaders when they meet next week.
Attractive valuations and the continued positive sentiments on the consolidation wave in the domestic banking sector led the Qatar Stock Exchange (QSE) witness its key index barometer to surpass 9,300 levels