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Economy

“Dubai nixes its 30% alcohol tax in a bid to attract more tourism”

“…Dubai is scrapping its 30% tax on alcohol sales for the rest of the year, the emirate’s municipality announced Monday, the latest move in a series of liberalizing policy changes over the last few years aimed at boosting tourism and… Continue Reading…

Banking

“Federal Reserve Temporarily Eases Capital Requirement for Big Banks”

“The Federal Reserve is temporarily relaxing a rule that imposes additional capital requirements on deposits and Treasury securities held by the biggest U.S. banks… The decision signals a complete turnaround in money-market conditions from early March, when dislocations in interest rates indicated… Continue Reading…

Banking, Economy

“Chase [Bank] to temporarily close 1,000 branches over coronavirus concerns”

“JPMorgan Chase is closing about a fifth of its bank branches to help contain the spread of COVID-19. The finance giant will shutter about 1,000 Chase bank locations temporarily, according to a memo sent to employees Wednesday. The roughly 4,000 other branches will… Continue Reading…