Business

07 July 2020; MEMO: A number of Kuwaiti banks have warned of millions of dollars in losses due to delays of repayments of loans amidst the outbreak of the coronavirus which is threatening the country’s economy, RT reported yesterday.

Kuwaiti National Bank, the largest bank in the country, said: “The total losses due to delayed instalments by customers, housing and credit card repayments are expected to hit 130 million dinars [$422.5 million].”

07 July 2020; MEMO: The German government’s Commissioner for Tourism, Thomas Bareiss, said Monday that tourism with Turkey will resume soon.

Bareiss told German broadcaster NTV that “every country should be treated fairly and I am pretty confident that tourism activity between Turkey and Germany will resume soon”.

New Delhi, Jul 7 (PTI) India's Global Real Estate Transparency Index ranking has improved by one notch to 34 on the back of regulatory reforms, better market data and green initiatives, according to property consultant JLL.

India was ranked 35th in the index during 2018 bi-annual survey, while the country was at 36th position in 2016 and 39th in 2014.

The country's real estate market is currently placed in the 'semi-transparent' zone.

Miami, Jul 7 (AP/PTI) Hospitals rapidly approached capacity in Florida and Texas, and the Miami area closed restaurants again Monday because of the surging coronavirus, as the US emerged from a Fourth of July weekend of picnics, pool parties and beach outings that health officials fear could fuel the rapidly worsening outbreak.

Hong Kong, Jul 7 (AP/PTI) TikTok said Tuesday it will stop operations in Hong Kong, joining other social media companies in warily eyeing ramifications of a sweeping national security law that took effect last week.

The short-form video app's planned departure from Hong Kong comes as various social media platforms and messaging apps including Facebook, WhatsApp, Telegram, Google and Twitter balk at the possibility of providing user data to Hong Kong authorities.

06 July 2020; MEMO: A $15 billion railway connecting the Gulf States is expected to begin operating in 2023, following almost twenty years of stalling and uncertainty, Saudi newspaper Al-Jazirah has revealed.

06 July 2020; MEMO: Saudi Arabia has set aside 3.5 billion riyals ($933 million) to support 480,000 of its citizens working in the private sector and who are struggling as a result of uncertainty stemming from the coronavirus.

The Governor of the General Organisation for Social Insurance (GOSI), Sulaiman Al-Gwaiz, said in a statement yesterday that the initiative to support workers in the private sector comes within government initiatives to mitigate the financial and economic burdens caused by the pandemic.

06 July 2020; MEMO: Israeli Foreign Minister Gabi Ashkenazi yesterday warned that annexation might cause Israel’s relations with Jordan and the European Union to deteriorate, Arab48 reported.

According to the website, the EU has discussed punishing action against Israel if it goes ahead with annexation, noting that the punishment could include a halt of foreign ministers’ visits to Israel, halt in dispatching students and cancelling scientific scholarships in Israel.

Tehran, July 5, IRNA – French Foreign Ministry in a statement on Sunday reaffirmed commitment to the Joint Comprehensive Plan of Action.

France's statement was in reaction to a letter forwarded by Iranian Foreign Minister Mohammad Javad Zarif’s to EU High Representative Josep Borrell on invoking Dispute Resolution Mechanism envisaged by the context of the JCPOA.

By invoking DRM, Zarif expressed dismay of the Islamic Republic of Iran at lack of respect to the nuclear deal and failure of France, UK and German Governments to honor their commitments.

VALETTA, 06 July 2020; AA: Turkey’s defense minister and chief of General Staff on Saturday held talks with Malta’s minister for home affairs and national security in Valetta, the capital of the island nation.