Dubai government boosts economic stimulus by a further Dh1.5bn

The National
Dubai Municipality fees and tourism fees charged on hotel stays are being halved until the end of 2020. Reem Mohammed / The National

The Dubai government announced a further Dh1.5 billion worth of economic stimulus measures on Saturday, bringing the total so far to Dh6.3bn.

The government will extend the reduction of municipality fees paid by hoteliers to 3.5 per cent,…

Govt’s stimulus package has preserved macro stability: KKR India head
The government had announced a Rs 20.97 trillion stimulus package in May in five tranches to revive the economy hit hard by the Covid-19 pandemic. Illustration by Binay Sinha

The stimulus package announced by the government following the Covid-19 outbreak has been able to preserve macroeconomic stability and it has not come at a huge…

COVID-19 may just be the unintended booster shot financial inclusion needed

Money Control
As millions suffer the physical and economic consequences of COVID-19, the events of recent months point to at least one positive, if you happen to be one of the 1.7 billion people on the planet who are financially excluded. Governments have acted quickly to disburse relief benefits to citizens in need. As the global economy stuttered to a halt, these government aid payments literally…

AirAsia may raise over $234 mn in debt to stave off Covid-19 crisis

The New Indian Express
In the Philippines, we have applied for the government guaranteed loan under the Philippine Economic Stimulus Act (PESA), with an expected positive outcome,” said Fernandes.

NEW DELHI: AirAsia is considering raising more than 1 billion ringgit ($234 million) in an effort to pull itself out of the current financial…

Covid has altered realities of consumption and commerce – need for global consensus on digital taxation

The adoption of contactless technologies during Covid-19 is helping reduce health risks associated with activities that otherwise require person-to-person interactions. More consumers are now ordering online. Many companies, particularly in the services industry, have adopted work-from-home practices. Schools, colleges and coaching centres have switched to online. Professional…

Green shoots visible, India will bounce back: Niti Aayog CEO Kant

India Times
NEW DELHI: Niti Aayog CEO Amitabh Kant on Tuesday said green shoots are visible and the economy, which has been hit hard by the COVID-19 pandemic , will bounce back soon.

The pandemic has impacted economic activities severely as the country had to go through a nationwide lockdown to check the spread of coronavirus . The government had to…

Be more sensitive to poor; implement PMGKAY proactively: Ram Vilas Paswan to laggard states

Money Control
The Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY), announced as part of the Rs 20 lakh crore stimulus package to help those affected due to the coronavirus-induced lockdown, was earlier valid for a three-month period from April to June. The same has been extended for five months till November.

Food Minister Ram Vilas Paswan on Wednesday said some states like West Bengal and Bihar…

Second stimulus may stop contraction in the economy: EY India report

Hindustan Times
A second round of fiscal stimulus in the latter part of the financial year may help arrest the strong contractionary momentum in the Indian economy, and a borrowing-based full implementation of Rs 111 lakh crore is needed to restore growth and generate tangible employment, consultancy firm EY India said in its latest edition of Economy Watch report.

Union finance minister Nirmala…

Chief economist update: Premature easing will cost more lives, more rupiahs

The Financial Standard
It was one of the first movers in the fight against containing the spread of infection from the coronavirus pandemic.

On March 24, Indian Prime Minister Narendra Modi ordered one of the strictest lockdowns of any country in the world, warning that: “If we don’t manage these 21 days, the country will be set back by 21 years.”

The total number…