Bloomberg Chuck Gregorich, who sells China-made patio furniture on Amazon.com Inc expects to lose as much as $2 million in sales this year due to factory closings and other coronavirus-related slowdowns. So he’s cutting his ad spending on Amazon and thinking about raising prices to avoid running out of inventory. The sudden shift in sales tactics by merchants like Gregorich ...

Bloomberg Creditors of Jet Airways India are seeking court action to save the bankrupt carrier from liquidation as a key deadline looms. Lenders to Jet Airways plan to request an Indian court extend a mid-March deadline for creditors to agree on a resolution plan or allow the carrier go into liquidation, said people familiar with the matter. Potential buyers of ...

Bloomberg US airlines posted the biggest two-day drop in more than three years on deepening fears that the spread of the coronavirus will further stymie travel. American Airlines Group Inc led the decline, tumbling the most on the S&P 500 and reaching the lowest since its 2013 merger with US Airways. President Donald Trump’s administration is considering whether to adopt ...

Agencies President His Highness Sheikh Khalifa bin Zayed Al Nahyan, sent a cable of condolences to President of Arab Republic of Egypt, Abdel Fattah el-Sisi on the death of the former Egyptian President, Hosni Mubarak. In the cable, His Highness Sheikh Khalifa expressed his heartfelt condolences and solace on the death of Hosni Mubarak. His Highness Sheikh Mohammed bin Rashid ...

ABU DHABI / WAM The UAE has been named the Middle East’s highest ranked soft power nation in Brand Finance’s ‘Global Soft Power Index 2020’. According to Brand Finance, the UAE is in 18th position worldwide in the index and has received a soft power score of 45.9 out of 100. “The UAE’s main soft power strength is its appealing ...

ABU DHABI / WAM The Abu Dhabi Department of Economic Development (Added), and the Abu Dhabi National Oil Company (Adnoc), on Tuesday signed a Memorandum of Understanding (MoU), to enhance cooperation and drive in-country value (ICV), for Abu Dhabi following the success of Adnoc’s ICV programme. Under the terms of the agreement, Added will integrate and standardise Adnoc’s ICV certification ...

ABU DHABI / WAM The UAE’s General Civil Aviation Authority (GCAA) announced the suspension of all flights arriving to and departing from Iran, effective immediately. According to the GCAA, all passenger and cargo aircraft traveling to and from Iran will be suspended for a period of one week, and could be up for extension. The decision is a precautionary measure ...

Bloomberg The Organisation of Petroleum Exporting Countries (Opec) hasn’t decided yet to extend or modify its agreement to cut oil output, Saudi Arabia’s energy minister said, as the coronavirus batters the global economy and threatens demand for crude. Opec and its allies are to meet next week in Vienna to assess their global cuts policy. Energy Minister Prince Abdulaziz bin ...

ABU DHABI / WAM Since 1971, the UAE’s health sector witnessed numerous milestones and significant achievements, in line with renewed health challenges. The UAE ranks first globally in terms of number of accredited health establishme- -nts, of which 85 percent have obtained global accreditation, as per Joint Commission International (JCI), reports. According to World Health Organisation (WHO), the UAE ranks ...

Bloomberg The worrying prospect that the coronavirus outbreak could become the first truly disruptive pandemic of the globalisation era is renewing doubts over the stability of the world economy. With the death toll approaching 3,000, over 80,000 cases officially recorded and an outbreak in Italy now shutting down the richest chunk of its economy, some economists are beginning to war ...