March, 2020

• 15 March

  HSBC appoints new China CEO

  

  Bloomberg HSBC Holdings Plc, which operates the largest franchise among global banks in China, named Mark Yunfeng Wang as president and chief executive officer of its China business as the UK lender reaffirms the commitment to the world’s biggest banking market. Wang is currently head of global banking and markets China and replaces David Liao, who will take up another ...

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• 15 March

  Bank of Japan likely to expand its stimulus measures

  

  Bloomberg The Bank of Japan (BOJ) will likely expand its stimulus measures at its next meeting as it seeks to limit the blow from the coronavirus outbreak and reassure volatile markets. The central bank is likely to show a more aggressive stance on buying assets such as exchange-traded funds (ETFs), the people said. Whether the BOJ will raise its 6 ...

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• 15 March

  JPMorgan’s worldwide staff to work from home

  Bloomberg JPMorgan Chase & Co. told employees worldwide that they will start working from home on a rotating basis, as the biggest US bank intensifies its response to the coronavirus pandemic. Employees around the world will split their time between homes and offices on a one- or two-week rotation, JPMorgan said in a memo. The move expands upon earlier arrangements ...

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• 15 March

  Airlines plead for state relief after Covid-19 shreds travel

  

  Bloomberg Airlines in the US and Europe cut flights, idled planes and drafted plans to eliminate jobs, while seeking government support to weather the roughest downturn in the industry’s history caused by the coronavirus. American Airlines Group Inc, Delta Air Lines Inc, United Airlines Holdings Inc and Southwest Airlines Co said they’re discussing potential aid from the government, without providing ...

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• 15 March

  Airports in US struggle to cope with crowds

  

  Bloomberg Chicago’s O’Hare International Airport was among those overwhelmed on March 14 with passengers, including many returning from Europe, who faced new screening measures hastily announced last week. The crowds of anxious travelers were a stark contrast to the increasingly loud calls for people to practice “social distancing” as a way to get ahead of the spread of the coronavirus ...

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• 15 March

  UK’s biggest grocers ask their shoppers to stop stockpiling

  

  Bloomberg British food retailers have written a joint letter to their customers asking them to “buy responsibly” in the wake of shoppers stockpiling over fears about the new coronavirus. In an extraordinary development, 12 of Britain’s biggest grocers will publish advertisements in national newspapers on Sunday and Monday. Entitled “Working to Feed the Nation,” the letter reassures shoppers about steps ...

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• 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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