April, 2020

• 26 April

  Bank of Baroda to raise $1.8bn to boost buffers

  

  Bloomberg Bank of Baroda, India’s third-largest state-run lender by market value, plans to raise as much as 135 billion rupees ($1.8 billion) over the next 12 months to improve risk buffers and boost lending. The lender, which combined with two smaller rivals last year, plans to raise 90 billion rupees selling shares and the balance through debt including tier-I capital, ...

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• 26 April

  ECB seen boosting pandemic response to help economy

  

  Bloomberg The European Central Bank (ECB) will increase emergency bond-buying in the coming months to ramp up support for an economy that President Christine Lagarde sees shrinking as much as 15% this year, according to a Bloomberg survey of economists. One in four respondents expect the ECB could boost the size of its pandemic purchase program, when the Governing Council ...

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• 26 April

  Lufthansa warns of cash crunch as talks drag on

  

  Bloomberg Deutsche Lufthansa AG risks running low on cash within weeks, with the German airline saying the global oil rout has deepened its distress, and its survival now depends on a multibillion-euro bailout from four states. Liquidity will fall sharply if Europe’s largest carrier is unable to soon access aid, Lufthansa said. The coronavirus pandemic has forced the sprawling airline ...

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• 26 April

  Indonesia bans air travel through June 1

  

  Bloomberg Indonesia is banning domestic air travel through June 1 to limit the spread of coronavirus in the Southeast Asian nation. The ban applies to both scheduled services as well as chartered and private flights, Novie Riyanto, director general of civil aviation, said. The move comes ahead of a month-long festive season when millions of Indonesians are expected to return ...

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• 26 April

  Covid-19: Shoppers scared to return when US stores reopen

  

  Bloomberg When their doors finally open after mandatory shutdowns, American malls could face another hurdle: consumer fears. Only one-third of American adults surveyed said that they will feel safe shopping in a mall after stores reopen, according to a new study by retail predictive analytics company First Insight Inc. More respondents said they’ll feel safe shopping in grocery, drug and ...

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• 26 April

  E-comm stocks soar with long-lasting pandemic gains

  

  Bloomberg E-commerce companies have emerged as a favourite play on Wall Street during the coronavirus pandemic, amid a growing consensus that upcoming results will reveal a potentially permanent shift in consumer behaviour towards online shopping. While online sales have long been growing their market share as a percentage of overall retail spending, the trend has been accelerated as shutdowns force ...

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• 26 April

  Colorado shuts Walmart store after 3 virus deaths

  Bloomberg A Walmart Inc store near Denver has been shuttered by local authorities after three people with ties to the location died from coronavirus. The closing came after a series of complaints from employees and shoppers about a lack of social distancing, according to the Tri-County Health Department. This included workers not wearing face masks and too many people in ...

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• 25 April

  UAE provides 171 tonnes of food aid to Yemen’s Al Shihr residents

  

  HADRAMAUT / WAM The UAE, through its humanitarian arm, the Emirates Red Crescent (ERC) provided 4,000 food parcels weighing 171 tonnes to the residents of Al Shihr district in the Yemeni Governorate of Hadramaut on the occasion of the Holy Month of Ramadan. The aid package was administered in line with the directives of His Highness Sheikh Mohamed bin Zayed ...

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• 25 April

  Production cuts buoy oil even as glut looms over market

  

  Bloomberg Oil edged lower for the week after paring losses following the dramatic collapse that saw prices in New York plunge below zero for the first time in history. West Texas Intermediate for June delivery rose 2.7%, closing the curtain on a tumultuous week of wild price swings. US operators have started to shut old wells and halt new drilling, ...

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• 25 April

  UAE ministry reduces work hours for private sector

  DUBAI / WAM The Ministry of Human Resources and Emiratisation has issued a ministerial circular reducing the working day by two hours for all employees working in the private sector in the country during the Holy Month of Ramadan 1441 Hijri, Nasser bin Thani Al Hamli, Minister of Human Resources and Emiratisation, issued the circular in implementation to the Federal ...

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