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Bloomberg They’d just bet millions on a hotel makeover, were waiting tables while pursuing their dream, or toiling in an already tough oil market. Canadians have seen their world upended in a matter of days as the coronavirus shuts down huge swaths of the economy. Now, they’re trying to figure out how to make ends meet and negotiate a maze ...

Bloomberg Media companies including AT&T Inc. and ViacomCBS Inc. are pressing the pause button on asset sales worth more than $5 billion because of the global coronavirus pandemic. AT&T’s auction of four regional sports networks, ViacomCBS’s offloading of its publishing arm and closely-held Ion Media Networks Inc.’s $3.5 billion sale process have been held up amid a downturn in financing ...

Bloomberg The shutting of European borders in a bid to contain the coronavirus pandemic is about to derail a 200 billion-zloty ($47 billion) industry. The Polish construction sector, which employs 400,000 people and accounts for 8% of gross domestic product, faces unprecedented trouble amid concerns over the Ukrainian workforce it depends on. The builders are gradually heading back to their ...

DUBAI / WAM UAE consumers will now be able to shop online with trust and confidence with DubaiStore, a new UAE e-commerce marketplace platform created by Digital Economy Solutions (DES), which has gone live. The new e-commerce platform is an initiative that will facilitate small- and medium-sized businesses to sell their products online, offering healthy competition to big e-commerce players, ...

ABU DHABI / WAM Etihad Airways has announced suspension of all flights departing from Abu Dhabi International Airport for two weeks, and subject to further directives by the relevant authorities. According to a statement released by the airline, the announcement was made following the UAE’s National Emergency Crisis and Disaster Management Authority (NCEMA) and the General Civil Aviation Authority (GCAA) ...

Abu Dhabi / WAM The UAE announced on Wednesday the detection of 85 new coronavirus (Covid-19) cases and the recovery of seven more individuals. The announcement was made by the Ministry of Health and Prevention during a regular press briefing on Wednesday, wherein Dr. Farida Al Hosani, the official spokesperson for the UAE health sector, highlighted the latest Covid-19 developments ...

Dubai / Emirates Business Islamic Arab Insurance Company (Salama), the UAE’s largest and oldest takaful provider, announced its audited financial results for the year ended December 31, 2019, reporting a net profit of AED 55 million. The gross written premium grew by 6.25% to reach AED 1,106 million in 2019 compared to AED 1,041 million in 2018. Salama’s focus on ...

ABU DHABI / WAM The UAE on Wednesday launched a fund for unifying national efforts to combat the coronavirus (Covid-19) pandemic. Titled “The Fund of the United Arab Emirates: Homeland of Humanity”, the fund has been launched in coordination with the National Emergency Crisis and Disasters Management Authority (NCEMA) the Emirates Red Crescent (ERC) and other humanitarian and charity organisations ...

Bloomberg Oil turned lower on an unprecedented hit to consumption, even as policy makers attempted to kickstart the global economy. Futures in London erased earlier gains to trade down 4.2%. The boss of trading house Vitol Group said demand is down about 15 million to 20 million barrels a day and will shrink further with India’s decision to go into ...

ABU DHABI / WAM Driven by country-level economic incentives and stimulus packages, the UAE financial markets continued their rebound for the second straight day, with listed companies posting combined gains of AED61 billion in market cap in the two sessions of Tuesday and Wednesday. Abu Dhabi’s main stocks index was up 7.23 percent to 3,915 points on Wednesday, driven by ...