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UAE expands stimulus as Gulf economies reel from coronavirus

The United Arab Emirates’ central bank has doubled its banking stimulus package to Dh256bn ($70bn) as a business sentiment deteriorated in the Gulf’s commercial centre.  The bank on Sunday said it would reduce reserve requirements for demand deposits, injecting Dh61bn to support banks’ lending and liquidity management. The measures, which …

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US banks defend dividend payments during pandemic

America’s biggest banks will defend their plans to continue paying dividends in submissions to regulators on Monday, just days after Europe’s regulators urged lenders to abandon shareholder payouts while they dealt with the coronavirus pandemic.  US banks’ annual capital plans, due to be submitted to the Federal Reserve on Monday, …

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U.S. enters 'hardest, saddest' week in coronavirus crisis

© Reuters. Outbreak of the coronavirus disease (COVID-19) in New Orleans (Reuters) – The United States enters one of the most critical weeks so far in the coronavirus crisis with the death toll exploding in New York, Michigan and Louisiana and some governors calling for a national order to stay …

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