Bahrain fiscal deficit expected at 12% of GDP in 2020 -S&P

DUBAI, May 30 Bahrain's fiscal deficit is seen widening to 12% of GDP this year from 4.6% in 2019, largely due to lower oil prices, S&P Global Ratings said on Saturday.

1:07pm IST

Abu Dhabi economy to contract by about 7.5% this year - S&P

DUBAI, May 30 Abu Dhabi's real gross domestic product (GDP) is expected to contract by 7.5% this year because of lower oil production and the impact of the new coronavirus outbreak, S&P Global Ratings said.

1:05pm IST

UPDATE 2-Citigroup's Mason expresses horror over Minneapolis killing

NEW YORK, May 29 Citigroup Inc Chief Financial Officer Mark Mason, one of the few black executives on Wall Street, published a personal essay on Friday expressing his "horror, disgust and anger" over the killing of George Floyd, an unarmed black man who died after a Minneapolis police officer knelt on his neck.

7:21am IST

UPDATE 2-In rescue effort, Fed has broad stake in corporate America's fortunes

May 29 The U.S. central bank now has a stake in the fortunes of a broad swath of corporate America after buying about $1.3 billion of bond funds with debt issued by firms in all walks of the world's biggest economy, from Apple Inc to a clutch of companies in bankruptcy.

UPDATE 2-Saudi Arabia's PIF gets $40 bln from foreign reserves to fund overseas investments

RIYADH, May 29 Saudi Arabia transferred a total of 150 billion riyals ($40 billion) from central bank foreign reserves to fund investments by sovereign wealth fund PIF in March and April, the finance minister said on Friday.

3:23am IST
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