March, 2020

• 15 March

  Walmart cuts store hours to give workers time to restock

  

  Bloomberg Walmart Inc, the biggest US retailer, was expected to cut its store operating hours starting from Sunday to give its workers time to restock shelves as the coronavirus outbreak intensifies. The pandemic is prompting Americans to buy more groceries and other daily necessities including cleaning products, often emptying shelves in anticipation of an extended period of so-called social distancing ...

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• 15 March

  ‘Mall owner Intu may struggle to keep going’

  Bloomberg UK mall landlord Intu Properties Plc may struggle to continue operating due to high debts and plunging asset values, its auditors warned. Intu shares declined as much as 16% last week, bringing their loss for the year to 83%. Its unsecured bonds due in 2022 fell 7 pence on the pound to 30 pence, the lowest level on record, ...

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• 15 March

  Venezuela plans to suspend more flights

  Bloomberg Venezuela will temporarily suspend flights from Panama and the Dominican Republic, essentially cutting off the nation from most of the world, Information Minister Jorge Rodriguez said. Flights from Europe and neighboring Colombia were already suspended earlier this week, narrowing the country’s remaining air connections to about a handful, including Turkey and Cuba. Rodriguez pleaded with Venezuelans to remain home ...

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• 14 March

  Sharjah records 3% increase in hotel guests in 2019

  

  Sharjah / WAM The Sharjah Commerce and Tourism Development Authority (SCTDA), revealed that the emirate recorded a three percent growth in the number of hotel guests in 2019 as compared to 2018. The emirate welcomed approximately 1.8 million guests last year with a hotel occupancy rate of 66 percent. Guests from the Russian Federation topped the list, followed by GCC ...

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• 14 March

  Abu Dhabi Customs to accomplish digital transformation for its services by year-end

  

  Abu Dhabi / WAM The General Administration of Customs in Abu Dhabi emphasised the importance of the “digital month” initiative launched by the Abu Dhabi government to enhance the governmental digital system and highlight the role played by digital solutions and services in fulfilling the digital community’s aims in the emirate. The General Administration of Customs added that the initiative ...

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• 14 March

  UAE halts all flights to and from Italy with exception of Rome

  

  ABU DHABI / WAM The UAE has announced the suspension of all inbound and outbound flights with Italy, with the exception of flights to and from Rome until further notice. The flight suspension is part of the precautionary measures to control the spread of the Covid-19 virus. In a statement, the General Civil Aviation Authority (GCAA) said that all passengers ...

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• 14 March

  Caring for children is caring for future

  

  ABU DHABI / WAM The UAE places great importance on the rights of Emirati children, who receive the best care and attention, in accordance with the internationally recognised best practices, said HH Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union (GWU), President of the Supreme Council for Motherhood and Childhood, and Supreme Chairwoman of the Family Development Foundation ...

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• 14 March

  Coronavirus: Abu Dhabi closes main cultural sites

  

  ABU DHABI / WAM In line with precautionary measures to ensure the health and safety of visitors, the Department of Culture and Tourism – Abu Dhabi, DCT Abu Dhabi, has decided to temporarily close cultural sites in the emirate, starting from Sunday March 15 until March 31. The Department said in a statement” “Abu Dhabi’s main tourist attractions, theme parks ...

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• 14 March

  Covid-19: UAE central bank unveils AED100b stimulus

  

  ABU DHABI / WAM The Central Bank of the UAE (CBUAE), launched an AED100 billion comprehensive targeted economic support scheme for retail and corporate customers affected by Covid-19. These measures will enter into force with immediate effect, according to a CBUAE statement issued on Saturday. “Given that the World Health Organisation has declared Covid-19 virus as a global pandemic, the ...

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• 14 March

  Oil price war erases $196bn from energy stocks in a week

  

  Bloomberg Record lows, trading halts, capitulation and spending cuts made for a wild week in the energy sector after Saudi Arabia and Russia embarked on a war for market share, sending crude and equity prices in a downward spiral. The S&P 500 energy index never recouped the stunning losses it saw at the beginning of the week, despite the late-day ...

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