Business

AMMAN, Mar 16 (NNN-PETRA) – Jordan’s central bank, on Sunday, decided to lower the compulsory reserves that banks hold, in order to make more liquidity available on the markets.

The remarks were made by the central bank governor, Ziad Fariz, who said that the reserve cuts will be from seven to five percent.

The measures will enable the banks to lower the interest rates on facilities provided to institutions and individuals, he said.

LAGOS, Mar 16 (NNN-XINHUA) – Some school children near an explosion site, which rocked Abule Ado of Lagos, Nigeria’s economic hub, have been rescued from the collapsed school building, a government official said

Valentine Buraimoh, chairman of Amuwo Odofin local government area, who confirmed this to reporters, said the boarding school collapsed, following the explosion.

The massive explosion rocked neighbouring areas, sparking a massive blaze that destroyed nearby buildings, including a boarding school.

Mumbai, Mar 14 (PTI) Yes Bank reported on Saturday a staggering Rs 18,654-crore loss for the December quarter due to higher recognition of dud assets on the books, and an erosion of capital buffers to the brink.

The gross non-performing assets shot-up to Rs 40,709 crore or 18.87 per cent of assets as of December 31, 2019, up from the preceding September quarter's Rs 17,134 crore or 7.39 per cent, which forced the bank to set aside Rs 24,765 crore as provisions for the expected reverses and eroded the bottomline.

New Delhi, Mar 15 (PTI) Petrol price was on Sunday cut by 12 paise a litre and diesel rates by 14 paise as oil companies moderated rate reduction amid the fall in global prices to absorb the hike in excise duty on fuel by the government.

Petrol in Delhi now costs Rs 69.75 per litre, while diesel is priced at Rs 62.44, according to a price notification of state-owned oil firms.

PARIS, March 15 (NNN-AGENCIES) — France drastically stepped up its measures against the spread of the coronavirus, announcing the closure of all non-essential public places including restaurants and cafes from midnight (2300 GMT).

“I have decided on the closure until further notice from midnight of places that receive the public that are non-essential to the life of the country,” Prime Minister Edouard Philippe told reporters.

“This includes notably cafes, restaurants, cinemas and discos.”

New York, Mar 13 (AFP/PTI) US airlines announced additional steps Friday to ground planes and curtail executive pay as they prepare for an unprecedentedly bad travel market in the near-term.

Demand for service at Delta Air Lines is "declining at an accelerated pace daily, driving an unprecedented revenue impact," Chief Executive Ed Bastian said in a letter to employees that announced the carrier will cut overall capacity by 40 per cent.

San Francisco, Mar 13 (AFP/PTI) Microsoft on Friday announced that co-founder Bill Gates has left its board of directors to devote more time to philanthropy.

The 64-year-old stopped being involved in day-to-day operations at the firm more than a decade ago, turning his attention to the foundation he launched with his wife, Melinda.

New Delhi, Mar 14 (PTI) The government on Saturday hiked excise duty on petrol and diesel by a steep Rs 3 per litre each to garner about Rs 39,000 crore additional revenue as it repeated its 2014-15 act of not passing on gains arising from slump in international oil prices.

Retail prices of petrol and diesel will not be impacted by the tax changes as state-owned oil firms adjusted them against the recent fall in oil prices and the likely trend in the near future, industry officials said.

13 Mar 2020; MEMO: Iran, asked today, Thursday, the International Monetary Fund (IMF) for immediate financial assistance to tackle the novel Coronavirus, in conjunction with the authorities’ announcement of 75 new deaths, in the highest daily death toll since the virus began spreading in the country. Thus, the number of casualties officially exceeded 10,000.

New Delhi, Mar 13 (PTI) Investor wealth worth nearly Rs 12 lakh crore was wiped off in less than 15 minutes of trade opening on Friday, with benchmarks crashing over 10 per cent on mounting fears over coronavirus pandemic.

The 30-share BSE Sensex plummeted 3,380.59 points, or 10.31 per cent, to 29,397.55. It hit an intra-day low of 29,388.97, falling up to 3,389.17 points.