(MENAFN - Khaleej Times) A recovery in credit demand in the UAE banking sector will likely be gradual, with the ongoing domestic and global impact of the pandemic, albeit economic activity will see a stronger rebound in the second half of 2021, analysts said.
The strong recovery in the economy will be driven by the externally facing sectors as global vaccinations rise, providing vital support to areas related to travel and tourism. However, with ample domestic capacity in these sectors, the demand for new credit is forecast to be muted. The policy backdrop is expected to remain positive with key TESS (UAE Central Bank s Targeted Economic Support Scheme) components extended into 2021, said Monica Malik, chief economist Abu Dhabi Commercial Bank.
KENDALLVILLE â With some help from other city boards providing $1 million in tax dollars, Kendallville City Council members are more comfortable with borrowing the remainder to fund a new solar field on the site of the former McCray Refrigerator factory.
The city is now looking at a five-year financing plan that shouldnât impact local taxes or wastewater fees, meaning residents wonât need to provide anything extra to afford the green energy development.
City council members received an update about possible financing options for the project during their meeting Tuesday evening.
The proposed solar field would take up most of the 11-acre McCray site off Wayne Street, one block west of Main Street, stretching from the west end of the property all the way to Mill Street.
On today s program:
The man representing Australia s online betting industry says gamblers should be allowed to go into debt while having a punt, this follows a call for banks to crack down on the use of credit cards in online betting. Online gambling has boomed in the past 12 months, driven in part by the closure of so many casinos, pubs, bookies and racetracks as COVID-19 restrictions have come and gone across the country. But if you re one of those who ve made the switch to punting online, who s money are you using? Unlike casinos, pokies or the TAB, online apps allow you to put in your credit card details, it s the only place you can go into debt just to place a bet. Federal MP Andrew Wallace wants that to change, and he s taking aim at the banks to make it happen.
The payment pause on federal student debt during the coronavirus pandemic has offered Maduro, who lives in Charlotte, North Carolina, a rare opportunity to chip away at the balance of her highest-interest loans and even start building an emergency savings fund.
Meanwhile, the president s proposal to forgive up to $10,000 in student debt per borrower, which is still on the table, would go a long way toward achieving even greater financial milestones, Maduro said, such as buying a car or saving for the down payment on a house. That s essentially a whole year of payments that would be taken care of, she said. Even just having a whole year of that money saved I ll know that if anything happens, I ll feel confident I can bounce back.