COVID-19 and startups: Is now the time to panic?

COVID-19 and startups: Is now the time to panic?

The uncertainty has wiped trillions of dollars from global financial markets while the oil price war between Saudi Arabia and Russia has left investors in the region hesitant and cautious.. "The immediate damage to the economy will be from the price of oil, it affects the budgets of countries, it cuts down on the investment programmes immediately," says Michael Tamvakis, professor of commodity economics and finance at Cass Business School.. The continuous fall in the price of oil will force governments to prioritise their spending, resulting in fewer funds for entrepreneurship and VC investments and programmes.. "The effects of the Coronavirus is more short term, it might be a three to six month effect when we know where demand is going," says Tamvakis.. "I have 100 per cent confidence that there is no going back, people have seen the need and impact of the use of technology in education," he says.. For a period of six months, the UAE Central Bank is waiving all fees for the payment services provided to banks operating in the UAE through its payment and settlement systems.. We just have a lot of uncertainty and it might be a matter of just being