Lebanon’s SGBL bank on Wednesday announced that it will postpone collecting the monthly payments for personal and business loans for the months of March, April and May 2020.

No penalties will be imposed and the delayed payments will entail a 0% interest rate, the bank said in a statement.

Oil fell in Asian trade Wednesday as a rally lost steam with Saudi Arabia flooding the market with crude and the escalating coronavirus pandemic sapping global demand.

US President Donald Trump said Tuesday he was ready to help resolve an escalating oil price war between Russia and Saudi Arabia that has helped push crude benchmarks to 17-year lows.

The threat of a global recession triggered by the coronavirus pandemic had already hammered prices when Riyadh said last month it would raise exports after a production-cut agreement among top producers flopped in early March.

Wall Street stocks opened lower Tuesday as the Federal Reserve unveiled a new vehicle to boost market liquidity and the coronavirus case count continued to climb.

Dubai said Tuesday it will support Emirates Airline with a capital injection to help the carrier through the coronavirus crisis which has forced it to halt passenger flights.

The Turkish economy was healing after a recession when the new coronavirus struck, leaving Ankara scrambling to contain the damage with stimulus measures worth billions and facing demands to do much more.

Oil prices rebounded strongly in Asian trade Tuesday a day after falling to 18-year lows, as investors took heart from moves by policymakers to support the coronavirus-hit global economy.

Spain, already struggling with high unemployment and debt, is bracing for the impact of the government's decision to put the country's economy into "hibernation" to fight the spread of coronavirus.

Grocery delivery startup Instacart's delivery workers were set to begin a work stoppage Monday to press safety demands, as a walkout was planned by employees at an Amazon warehouse said to be the site of coronavirus infections.

Saudi Arabia said on Monday it will raise its oil exports to a record 10.6 million barrels per day starting from May, escalating a price war with Russia.