Bloomberg Central banks started the new week right where they left off on Friday — massively buying government debt to provide liquidity. Bond yields tumbled in Australia and New Zealand. The Reserve Bank of Australia and the Bank of Japan offered to buy the equivalent of almost $10 billion in debt on Monday. While credit markets globally are seeing the ...

Bloomberg The Swiss National Bank (SNB) is stepping up currency interventions to stem the franc’s advance, choosing that measure over an interest-rate cut to combat the economic fallout from the coronavirus outbreak. It said the virus poses “exceptionally large challenges” and that the currency is “even more highly valued.” That change to its wording on the franc is a warning ...

Bloomberg Amazon.com Inc’s delivery delays of non-essential goods will extend for at least another month for many customers in the US and Europe, stirring panic among online merchants who rely on the web retailer for business. The lengthening delivery times come on top of confusion over how the company identifies essential products, a task that appears to be performed by ...

Bloomberg The world is close to running out of space to store all the fuel that jets are no longer burning. Only about 20% of land-based storage for the product remains — about 50 million barrels — while airlines cut flights, according to Vienna-based consultant JBC Energy GmbH. A collapse in air travel due to the coronavirus pandemic has brought ...

Bloomberg Airbus SE withheld its dividend and extended credit lines, lifting liquidity about 50% to 30 billion euros ($32 billion) after the coronavirus pandemic pushed its airline customers to halt flights and stop ordering planes. The European manufacturer also tore up earnings guidance for the year in an announcement on Monday and said its vast supplier network is in dire ...

Bloomberg Arvind Kejriwal, the chief minister of Delhi, declared no flights — domestic or international — will be allowed to land in the Indian capital’s main airport from 6 am on Monday. Hours after that deadline passed, dozens of planes have been operating from the Indira Gandhi International Airport. That’s because PM Narendra Modi’s administration overturned the ban, with the ...

Bloomberg Primark, the budget fashion chain owned by Associated British (AB) Foods Plc, has closed every store it operates due to the spread of the coronavirus, which will lead to a loss of 650 million pounds ($760 million) for each month the shops are shut. Primark had closed 20% of its selling space as of March 16, and on March ...

Bloomberg China’s economy will swiftly return to its potential growth rate and there’ll be significant improvement in the coming three months, a senior central bank official said on Sunday. “Economic indicators will likely show significant improvement in the second quarter and the Chinese economy will return to potential output level rather swiftly,” People’s Bank of China Deputy Governor Chen Yulu ...

DUBAI / WAM The emirate of Sharjah has listed a $200 million sukuk on Nasdaq Dubai, bringing the total value of sukuk listed in Dubai to $67.06 billion. Nasdaq Dubai’s new sukuk listings in 2020 now total $2.9 billion. Its new sukuk listings in all of 2019 totalled $14.15 billion, an annual record high for exchange and 18 percent more ...

DUBAI / WAM The Dubai Chamber of Commerce and Industry (DCCI) reinforced its role as the representative of the business community in the midst of current global challenges by strengthening its partnerships with its partners, including the Ministry of Economy and other government authorities. The most recent of these efforts was the meeting between its members, who are major fruit ...