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Corporate News

One sector that doesn’t need a bailout now

Since mid-March Israelis have experienced a similar, if not stricter, lockdown to most Western nations. Unemployment has skyrocketed to over 25%, and the Bank of Israel estimates the effects of Covid-19 to be costing the economy over 1.5 billion shekels (US$420mil) per day.

Economy

Lebanon seeks restructuring for US$1.2bil bonds

BEIRUT: Lebanon will suspend a US$1.2bil eurobond payment due today and seek talks with creditors to restructure its entire US$90bil debt pile, the first step in a broader plan to stabilise an economy in crisis.

Business

Emerging markets gird for more turmoil

DUBAI: With the world in the grip of one of the biggest risk sell-offs since the 2008 global financial crisis, more coronavirus-fueled declines in emerging markets may only be tempered by the prospect of coordinated central bank action or even large fiscal stimulus.