Bloomberg Germany is preparing to take a stake in Deutsche Lufthansa AG as part of a rescue package to help the carrier weather the coronavirus pandemic, according to people familiar with the matter. A decision is expected in the coming days for an overall aid package that could amount to more than double the company’s market capitalisation of 4 billion ...

Bloomberg International law firm Hogan Lovells is holding discussions with some bondholders of distressed airline carrier Virgin Australia, ahead of a first creditors meeting set for Thursday. Virgin Australia became Australia’s first airline to fall amid the coronavirus pandemic when it was placed under voluntary administration last week. With total debt of about A$6.84 billion ($4.4 billion) and more than ...

Bloomberg The top two trade groups representing major retailers such as Walmart Inc, Target Corp and Best Buy Co are calling on governors to adopt uniform reopening standards as the pandemic subsides, including allowing warehouses and distribution centers nationwide to reopen all at once, rather than state-by-state. As states, cities, and companies big and small struggle over when and how ...

Bloomberg Embraer tumbled to the lowest since 2009 after Boeing scrapped a proposed $4.2 billion commercial-jet deal amid a severe slump in aircraft sales. The Brazilian planemaker has already begun arbitration proceedings, according to a regulatory filing, two days after vowing to seek damages from Boeing. The US aerospace giant pulled the plug on April 25, citing unspecified issues. Last ...

Bloomberg National carrier Vietnam Airlines JSC will provide flights to San Francisco and Washington DC for Americans in early May, according to a posting on the website of the US Embassy & Consulate in Vietnam. The flights were arranged after most international flights to and from Vietnam were suspended due to the novel coronavirus outbreak. The first flight is scheduled ...

ABU DHABI / WAM The Abu Dhabi National Oil Company (Adnoc), and Abu Dhabi Power Corporation (ADPower) announced on Monday the issuance of a joint tender for a first-of-its-kind project in the Middle East & North Africa (Mena) region. The joint tender sets out to develop and operate the region’s first high-voltage, direct current, HVDC, sub-sea transmission system, that will ...

Bloomberg Oil dropped back below $15 a barrel as swelling global crude stockpiles made it more difficult for leading producers to balance the market by curbing output. Futures in New York slid 16%, snapping a four-day gain. While US drilling is sliding and Saudi Arabia started reducing output ahead of the start date for Opec+ supply cuts, an immense glut ...

RIYADH / WAM The government of Saudi Arabia signed a SR995 million contract with China to provide nine million Covid-19 tests for nine million people in the Kingdom. The Saudi Press Agency (SPA) reported that the decision came “as a result of a phone call made between the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud ...

Bloomberg India is considering a proposal to guarantee as much as 3 trillion rupees ($39 billion) of loans to small businesses as part of a plan to restart Asia’s third-largest economy, which is reeling under the impact of a 40-day lockdown, people with knowledge of the matter said. Under the proposal, small firms will be eligible to borrow an additional ...

ABU DHABI / WAM The Abu Dhabi Agriculture and Food Safety Authority (ADAFSA) executed 142,063 transactions for the public through its digital channels and customer service centres across the emirate of Abu Dhabi, during the first quarter of 2020. The number of services conducted using the ADAFSA’s smart application and website reached 138,423, accounting for 97.4 percent of the total ...