Bloomberg Employees of Hong Kong carrier Cathay Dragon have urged the company to suspend mainland China flights and are considering strikes or protests to press their demands. Staff of the Cathay Pacific Airways Ltd unit gathered on Saturday for an extraordinary general meeting where about 89% out of 467 votes supported “industrial action,” said Kim Lam, a representative of the …

Bloomberg In an almost deserted mall, the few shoppers hurry past wearing face masks. In the luxury stores, sales assistants, also in masks, outnumber customers — if they have any at all. To pass the time, staff chat with each other or play with their phones. This isn’t a scene from some dystopian movie. Instead, in Hong Kong’s usually bustling …

Bloomberg More international aviation companies are withdrawing from the Singapore Airshow as concerns around the novel coronavirus outbreak mount. Organisers of the event, billed as Asia’s largest aerospace and defense conference, earlier announced it would proceed as scheduled with additional health screening and cleaning measures to reduce risks. The week-long show is due to kick off on February 11 and …

ABU DHABI / WAM The commercial and economic ties between the UAE and Senegal have witnessed recent significant developments, with the value of their trade from 2014 to 2018 amounted to AED9.1 billion, according to statistics from the Federal Competitiveness and Statistics Authority (FCSA), and the Ministry of Economy. The official visit of Macky Sall, President of Senegal, to the …

Bloomberg European Central Bank (ECB) President Christine Lagarde said her institution is on watch as the coronavirus outbreak provides a new threat to the economic outlook. The disease, which has spread worldwide after originating in China, has shuttered factories, cancelled flights and kept workers at home as governments try to stem the contagion. Lagarde’s comments suggest that the ECB, like …

DUBAI / WAM Commercial complaints in Dubai showed a remarkable decline in 2019, as sustained campaigns by Dubai Economy to reach out to traders and resolve their complaints amicably helped improve relations within the business community and enhance business competitiveness in Dubai. The Commercial Compliance and Consumer Protection (CCCP), sector in the Dubai Economy received 770 commercial complaints in 2019, …

Bloomberg Oil rebounded back beyond $50 a barrel as Opec+ entered a second day of discussions on impact of coronavirus outbreak. Futures rose 3% in New York, reversing some of the dramatic collapse across the futures curve this week that saw the market fall into a bearish contango structure — indicating oversupply. The recovery reflects speculation that Opec+ talks in …

Bloomberg Stocks rallied globally and bonds slipped amid hopes for a breakthrough in fighting the coronavirus. Crude oil advanced with industrial metals. Futures on the three main American indexes all turned higher and the Stoxx Europe 600 Index rebounded after a string of reports on possible vaccines or treatments for the deadly pathogen. Contracts on the S&P 500 Index climbed …

Bloomberg For Vietnamese stock investors, the return from the Lunar New Year break has been almost as bad as for their Chinese counterparts. Mounting concerns that trade disruptions caused by the coronavirus outbreak will have a deep impact on the Southeast Asian nation have pushed the benchmark VN Index down more than 6% since January 30. That’s the world’s worst …

Bloomberg Global central bankers are biding their time as the coronavirus fallout reverberates through the world economy, which they had hoped was stabilising after its worst year since the financial turmoil of 2009. While yet to respond with major stimulus, monetary policy makers across the globe have expressed concern and signalled a willingness to act if the virus delivers a …