Bloomberg Despite marching orders from China’s top leader Xi Jinping to maximize oil and gas production, the energy sector is bending to the reality of the coronavirus pandemic-fuelled market collapse. The nation’s three biggest state producers will slash their spending plans this year by a combined $19 billion, with PetroChina Co.’s 32% chop leading the way, the fattest among global ...

Bloomberg The euro-area economy plunged into a record contraction, an outcome that will only add more urgency to controversial demands for joint government fiscal support. Output in the 19-country region shrank 3.8%, reflecting shutdowns to contain the coronavirus that have pushed businesses close to collapse, sent unemployment surging and forced governments to unleash billions of euros in emergency stimulus. Italy, ...

ABU DHABI / WAM The United Arab Emirates on Thursday sent an aid plane containing seven metric tons of medical supplies to Bangladesh to bolster the country’s efforts to curb the spread of Covid-19. The aid will assist approximately 7,000 medical professionals as they work to combat the virus. Commenting on the aid delivery, Saed Mohammed Al Muhairi, UAE Ambassador ...