Kuwait's central bank announced a stimulus package on Thursday to support vital sectors and small and medium enterprises (SMEs) amid the fallout from the coronavirus epidemic.
The Central Bank of Kuwait has reduced liquidity and capital adequacy requirements for banks and cut risk weighting for SMEs, it said in a statement.
The bank cut capital adequacy requirements by 2.5 per cent and eased the risk weighting for SMEs to 25 per cent from 75 per cent. It also raised the maximum lending limit to 100 per cent from 90 per cent and increased the maximum financing for residential real estate developments to the value of the property or the cost of development.
It said the measures would encourage banks to lend more and help vital sectors and SMEs "overcome the current circumstances".
CBK said it would closely monitor banks to ensure the package meets its intended purpose "and will not hesitate to take further measures to meet the higher interest of the national economy".
On Wednesday, Kuwait announced measures to shore up its economy against the pandemic, including soft long-term loans from local banks, and the central bank asked banks to ease loan repayments for companies affected.
Kuwait, which as of April 1 had registered 317 cases of the new coronavirus, was the first Gulf country to ground all passenger flights and impose a partial curfew to stem the spread of the highly infectious respiratory illness.
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The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
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England ODI squad
Eoin Morgan (captain), Moeen Ali, Jonny Bairstow, Jake Ball, Sam Billings, Jos Buttler, Tom Curran, Alex Hales, Liam Plunkett, Adil Rashid, Joe Root, Jason Roy, Ben Stokes, David Willey, Chris Woakes, Mark Wood.
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COMPANY%20PROFILE
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The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
MATCH INFO
Manchester United 1 (Rashford 36')
Liverpool 1 (Lallana 84')
Man of the match: Marcus Rashford (Manchester United)
Company profile
Date started: 2015
Founder: John Tsioris and Ioanna Angelidaki
Based: Dubai
Sector: Online grocery delivery
Staff: 200
Funding: Undisclosed, but investors include the Jabbar Internet Group and Venture Friends
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
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Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
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- 600-seat auditorium
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- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
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More than 2.2 million Indian tourists arrived in UAE in 2023
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1,942 teams
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26 UAE teams
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What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
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