Bloomberg United Airlines Holdings Inc tumbled after the company said it expected to record a $2.1 billion loss in the first quarter as the coronavirus outbreak all but erased air-travel demand in March. The pretax loss, which will be about $1 billion on an adjusted basis, came as revenue dropped 17% from a year earlier to $8 billion, the carrier ...

Bloomberg Gap Inc is in discussions to issue new bonds backed by assets including real estate as one financing option to get it through the coronavirus pandemic, according to people with knowledge of the situation. The talks with investors and banks would be for bonds backed by inventory and certain properties including distribution centres, the people said, asking not to ...

Bloomberg Nigeria extended the closing of the West African nation’s airports for two weeks as it continues a lockdown to contain the coronavirus pandemic. The decision is subject to review when appropriate, Aviation Minister Hadi Sirika said in an emailed statement. Nigeria closed its international airports for one month on March 23, a week before President Muhammadu Buhari ordered a ...

Bloomberg A US travel industry group estimates that lost revenue as a result of the coronavirus pandemic could approach $520 billion by the end of the year, with much of the tourism industry still depressed in December. The US Travel Association — which represents airlines and other transportation companies, local attractions, tourism bureaus and other parts of the industry — ...

Bloomberg Oil suffered its biggest one-day price plunge in the modern era, at one point crashing about 40% to below $11 a barrel as traders contended with an historic glut. Despite Opec+’s unprecedented output deal agreed a week ago, the oil market remains massively oversupplied as the lockdowns to fight the spread of the coronavirus reduce global crude demand by ...

DUBAI / WAM Dubai Customs announced that its external trade of masks during the first quarter of 2020 reached AED60.5 million, compared to the 2019 yearly total of AED63.5 million. To meet the rising demand of masks and medical gloves, Dubai Customs took further steps and procedures to facilitate the trade of these items against the outbreak of Covid-19, the ...

ABU DHABI / WAM Hamad Obaid Al Mansoori, Director-General of the Telecommunications Regulatory Authority (TRA) stressed that the UAE has accomplished achievements in smart services and digital transformation, due to the future vision of its leadership and the efforts of government authorities, in cooperation with the private sector. Al Mansoori pointed out that the UAE’s telecom and information technology sector ...

ABU DHABI / WAM Advancing the renewables-based energy transformation is an opportunity to meet international climate goals while boosting economic growth, creating millions of jobs and improving human welfare by 2050, stated the first Global Renewables Outlook released by the International Renewable Energy Agency (Irena), on Monday. While a pathway to deeper decarbonisation requires total energy investment up to $130 ...

ABU DHABI / WAM The Department of Municipalities and Transport (DMT) announced that the number of building permits issued by its subsidiaries in the first quarter of this year increased by 10 percent compared to the same period last year to reach 2,563 permits for buildings in various vital sectors. According to the report by the Department of Municipalities and ...

Abu Dhabi / WAM Louvre Abu Dhabi announced on Monday that it is adding to its current digital offering, providing free access to more content through virtual tours, video, audio and downloadable activities. This development brings Louvre Abu Dhabi’s stories of cultural connections — of its artworks and exhibitions — to audiences around the world, ensuring that the museum remains ...