Banking

Economy forces Pakistan to reopen even as Covid-19 cases spike

The country continues to ease restrictions as the rate of new Covid-19 cases in Pakistan leapt from around 2,000-3,000 a day in late May to as high as 6,800 a day in mid-June and deaths are nearing 150 a day.

Turkey's Erdogan says Islamic economy can pull world 'out of crisis'

President Erdogan says Islamic tools offer a "key" to get out of global economic woes triggered by coronavirus pandemic, while vowing to make Istanbul centre of Islamic economy.

Ukraine gets $5B lifeline amid coronavirus recession

Ukraine will receive an immediate disbursement of about $2.1 billion from the 18-month Stand-By Arrangement, the IMF said in a statement.

Anti-Assad demonstrations break out in southern Syria as currency collapses

Protests erupted in Suweida over deteriorating living standards, as Assad struggles to keep the economy afloat.

How London-based financial institutions manipulate Turkey's currency

Experts say such threats are not new to the country and its banking regulator knows how to deal with such unethical financial conduct.

Is Hezbollah using Covid-19 assistance to subvert the Lebanese government?

Hezbollah has launched its own battle against the coronavirus, one that works alongside the Lebanese government’s response.

Is this stock halal? Islamic finance charts high-tech future

Islamic finance – an amalgamation of Sharia law and modern banking – has become a $2 trillion business over the past two decades, covering everything from bonds to buying cars.

Revisiting US 'maximum pressure' on Iran amid the coronavirus pandemic

The pandemic provides a chance for the US to reassess its financial warfare against Iran and generate some goodwill.

Fed slashes rates, rips open crisis tool kit to cushion coronavirus blow

The Federal Reserve took emergency action to help the economy withstand the coronavirus by slashing its benchmark interest rate to near zero and saying it would buy $700 billion in Treasury and mortgage bonds.

Wall Street plunges, bringing record bull run to an end

US President Donald Trump’s Europe travel ban announced sent all three major US stock indexes into a tailspin, slamming the book on the longest-running US bull market on record.

World Bank announces up to $12B in immediate funds for coronavirus

World Bank President David Malpass said there were still "many unknowns" about the fast-spreading virus and "much more" aid might be required, but he declined to elaborate.

Absence of US sanctions on Iran's healthcare is ‘a lie’

Washington claims imports of medicine are exempted, but the ground reality says the opposite, as tens of thousands of Iranians in need of emergency medical care are slowly inching towards death.