Bloomberg Chinese airlines are offering tickets at what are known colloquially as cabbage prices as they start restoring seat capacity following drastic capacity cuts enforced by the coronavirus. A one-way direct trip from Shanghai to Chengdu on Juneyao Airlines Co this Saturday costs just 90 yuan ($13) plus 50 yuan in taxes. That’s a three-and-a-half hour journey, about the same ...

Bloomberg Vietnam Airlines will temporarily suspend all of its South Korea flights beginning March 5 over concerns about the novel coronavirus outbreak, the national carrier said in a statement posted on its website. As of March 1, Vietnam Airlines flights from South Korea to Hanoi’s Noi Bai International Airport and Tan Son Nhat International Airport in Ho Chi Minh City ...

DUBAI / WAM The United Arab Emirates has facilitated a mission by the World Health Organisation (WHO) to deliver medical supplies and equipment to Iran in a bid to help contain the new coronavirus (Covid19), in the neighbouring country. The UAE Air Force deployed an aircraft that carried 7.5 tonnes of cargo from Dubai to Iran on Monday afternoon. Dubai’s ...

Bloomberg Global central banks promised to act as needed to stabilise markets rattled by the coronavirus as the Organisation for Economic Co-operation and Development (OECD) warned the world economy faces its “greatest danger” since the financial crisis more than a decade ago. In an emergency statement, Governor Haruhiko Kuroda said the Bank of Japan will “strive to provide ample liquidity ...

ABU DHABI / WAM The United Arab Emirates has welcomed the signing of the US-Taliban peace agreement, expressing hope that it represents a step towards achieving peace and security throughout Afghanistan. The Ministry of Foreign Affairs and International Cooperation said in a statement on Monday that the UAE hopes that the four-point agreement will be a starting point for stability ...

Bloomberg Oil rebounded from its worst week since 2008 as the world’s central banks sought to stabilise financial markets, while hopes grew that Opec+ will deepen output cuts following the coronavirus outbreak. Futures rose as much as 4.4% in New York, after sinking 16% last week. Russia, which is due to meet other Opec+ members in Vienna this week, is ...

SHARJAH / WAM Dana Gas on Monday issued a trading update to shareholders noting that its growth plan and operations remain unaffected by coronavirus (Covid-19), developments. The company went on to note that precautionary measures and contingency plans were put in place to safeguard personal and assets. Dana Gas has robust operations and cash flows since a large part of ...

ABU DHABI / WAM Abu Dhabi Developmental Holding Company (ADDH), announced on Monday that it concluded the definitive agreement with its partner Wizz Air Holdings, Europe’s fastest growing and greenest airline, to jointly establish Wizz Air Abu Dhabi. The low-cost airline is set to launch its operations at Abu Dhabi International Airport in Fall 2020. The agreement is a major ...

SHARJAH / WAM Dana Gas on Monday issued a trading update to shareholders noting that its growth plan and operations remain unaffected by coronavirus (Covid-19), developments. The company went on to note that precautionary measures and contingency plans were put in place to safeguard personal and assets. Dana Gas has robust operations and cash flows since a large part of ...

DUBAI / WAM The National Bank of Fujairah (NBF), announced its partnership with Ripple, a leading enterprise blockchain company, to enact easy and seamless cross-border payments through the RippleNet platform. According to a press release issued by the NBF on Monday, the bank’s customers, through this blockchain solution, will now be able to conduct secure and real-time payments with clear ...