June 30 – Daily Brief of World Finance & GCC News

WORLD FINANCE NEWS BRIEF

A New Card Ties Your Credit to Your Social Media Stats by wired.com

“Imagine that you’re making $2 or $3 million a year and they’re capping you at $20,000 a month,” says Donnelly, which was the best he could get from a traditional bank.

That makes him the target market for Karat, a new startup offering financial services to the influencer set.

Karat’s first product is the Karat Black Card, designed specifically for influencers, with credit lines starting at $50,000. Its perks can be customized (gamers get cash back on streaming services; beauty influencers get perks for product purchases), and the credit limits are determined by an influencer’s social metrics, revenue streams, and cash in hand.

Gilead Chooses Middle Ground in Pricing of Its Coronavirus Drug

Gilead Sciences Inc. said that it will charge U.S. hospitals roughly $3,120 for most patients who need remdesivir, picking a middle ground in a high-profile decision on the cost of one of the first drugs for Covid-19.

Patients suffering from the illness caused by the novel coronavirus are usually given six vials of remdesivir over five days. The price, which comes to $520 a vial, would apply to commercially insured patients in the U.S., according to a letter from Gilead Chief Executive Officer Daniel O’Day

GCC NEWS BRIEF

Lebanon’s Team of IMF Negotiators Loses Another Key Official

The Finance Ministry’s director-general, Alain Bifani, said he’s leaving to protest the government’s handling of the country’s worst financial meltdown in decades.

Speaking at a news conference after his unexpected move, Bifani lashed out at local lenders for refusing to repay what he called an “easy profit” they earned from continuously refinancing the government and engaging in “financial engineering”

Saudi Giga-Project Amaala Reveals Designs for New International Airport by arabianbusiness.com

Amaala, the ultra-luxury development planned along Saudi Arabia’s northwest coast, has unveiled plans for a new international airport.

On approaching the airport, travellers will see stunning land art from the air. Entering the terminal, visitors will be greeted with a sleek mirrored edifice rising from the desert.

Flydubai Announces ‘Passenger Partnership’ by zawya.com

The airline has redesigned its entire passenger journey and built upon the existing high standards of its operations to minimise the risk of transmission of COVID-19. For everyone to realise the benefit of travel, passengers need to have confidence that the airline is taking the correct measures and they also need to understand the role they must play to protect themselves and other passengers. This relationship between the airline and the passenger defines the flydubai partnership.

About the author

Financial advisor to UHNWI, private entities, family offices, and companies. Certified Anti-Corruption Manager from The American Anti-Corruption Institute

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