Bloomberg China should maintain liquidity at a reasonably ample level and offer targeted support to companies hit by the coronavirus epidemic, China’s central bank Governor Yi Gang said. The impact from the virus on China’s economy will be short-lived, and the fundamentals won’t change, according to the article by Yi published by the Economic Research Journal in its March issue. ...

Bloomberg Airbus SE chief Guillaume Faury warned employees that the planemaker is “bleeding cash” and needs to quickly cut costs to adapt to a radically shrinking aerospace industry. With airline customers fighting to survive and unable to accept new aircraft, Airbus is juggling its delivery schedules while reassessing its long-term outlook for the aerospace industry, Faury told staff in a ...

Bloomberg Adidas AG Chief Executive Officer Kasper Rorsted tried to present a silver lining as he predicted the German shoemaker’s first quarterly loss in four years: that cooped-up consumers might need more sportswear once countries lift stay-at-home orders. More than two-thirds of Adidas’s stores are closed due to the Covid-19 pandemic, which led the company to forecast an unprofitable quarter ...

Bloomberg Amazon.com Inc is asking warehouse employees who have stayed away from work during the pandemic to return for scheduled shifts beginning from May 1, or request a leave of absence. The move sets up a critical choice for employees at a company that has become a lifeline for Americans locked down to contain outbreaks of Covid-19. After the coronavirus ...

Bloomberg London’s Heathrow airport has asked the British government to consider allowing it to screen people for the coronavirus to help allay passenger fears once flights resume. Heathrow Chief Executive Officer John Holland-Kaye wrote to Health Secretary Matt Hancock saying a more stringent regime may be required at airports. Such measures could include temperature tests that the UK has ruled ...

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, discussed with David Beasley, Executive Director of UN World Food Programme, ways of accelerating coordination in getting assistance to those affected by Covid-19 pandemic. This came over a phone call His Highness Sheikh Mohamed ...

Bloomberg Volkswagen AG is rebooting plants, Airbus SE is up and running and UK builders will soon be erecting homes again as Europe starts returning to work after coronavirus shutdowns plunged the region into its worst economic slump in living memory. Factory doors are reopening after nations from Denmark to Germany began easing restrictions on public life, with Italy, France ...

SHARJAH / WAM The Sharjah Economic Development Department (SEDD) intensified its inspection campaigns of economic establishments during the Holy Month of Ramadan to protect consumers and ensure the provision of the finest services to citizens and residents in Sharjah. SEDD aims to guarantee that all economic establishments in Sharjah are committed to its rules and regulations. This is done by ...

SHARJAH / WAM Sharjah Islamic Bank (SIB) projected strong results despite the current situation, with net profits totaling AED153.7 million in the first quarter of 2020 compared to AED151.7 million in 2018, an estimated 1.3 percent increase. In a statement by the bank on Sunday, the balance sheet reflects the bank’s strong performance and sound financial position with total assets ...

Dubai / Emirates Business Emirates has ramped up its capability to process refunds, reaffirming its commitment to customers and travel trade partners impacted by travel disruptions caused by the Covid-19 pandemic. With nearly half a million refund requests pending to manage, the airline has taken proactive steps to restructure its backend procedures and boost resourcing to accelerate the processing of ...