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Bloomberg The EU needs “greater action” to combat the coronavirus economic fallout, whether that’s through issuing coronabonds or other measures, ECB Governing Council member Gabriel Makhlouf said in a Business Post interview. The governor of the Central Bank of Ireland also mentioned use of the European Stability Mechanism or “something new that comes out from the European Commission” as possible ...

Bloomberg Treasury Secretary Steven Mnuchin’s insistence that America’s major airlines partially repay taxpayer funds aimed at shoring up the industry has set up a clash between the Trump administration and the carriers. At least some of the large carriers are unhappy with the terms — specifically, that large airlines repay 30% of any grant within five years — and are ...

Bloomberg Airbus SE slashed its aircraft output by a third in a stark concession to the coronavirus pandemic that’s upended the aviation industry. The world’s biggest commercial aircraft manufacturer now plans to produce about 48 planes a month across its A320, A330 and A350 programs, it said in a statement. It had gone into the year with a goal of ...

Bloomberg Each day, before the 350 employees at Fresh N’ Lean enter the company’s food preparation center in Anaheim, California, they fill out a health questionnaire and have their temperature taken. Anyone with symptoms, even if they seem like seasonal allergies, is asked to take paid emergency sick leave. Inside, workers are spaced widely apart and wear gloves and masks ...

Bloomberg Early looks from Starbucks and Costco Wholesale into their coronavirus-era businesses suggest that US consumers may not be ready to turn back to their old spending ways as soon as governments give the all-clear sign. Starbucks sales cratered at the end of March. Its experience in China, which is now emerging from forced social distancing, showed that customers were ...

ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on Sunday launched the National Home Testing Programme for People of Determination, for UAE citizens and residents, to ensure all segments of the community have adequate access to testing facilities. The new programme supports ...

Bloomberg Negotiators raced to clinch a historic deal to cut oil supply and stem a devastating price rout, with just hours to go before the market opens. As diplomatic wrangling between Mexico and Saudi Arabia entered a fourth day, a group of Opec+ ministers were due to speak at 5 pm London time. Delegates said some progress had been made ...

Emirates Business Etihad Airways announced a series of special passenger flights from Abu Dhabi to Brussels, Dublin, London Heathrow, Tokyo Narita and Zurich, in addition to those previously published. Etihad has been operating special flights which allowed passengers stranded in UAE due to Covid-19 restrictions, opportunity to return home. The flights also support ‘UAE Food Security Program’ by utilising belly-hold ...

ABU DHABI / WAM The National Centre of Meteorology (NCM) on Sunday revealed that it has carried out 95 cloud seeding operations across the country in the first quarter of 2020, using a total of 2,171 flares produced by NCM’s Emirates Weather Enhancement Factory. NCM’s cloud seeding operations demonstrate the importance placed by the UAE on providing sustainable water resources ...

ABU DHABI / WAM Pensioners and beneficiaries in Abu Dhabi will receive their pensions on April 19, the Abu Dhabi Pension Fund announced on Sunday. It noted that AED236 million will be disbursed among 18,000 pensioners and beneficiaries, via remote work systems, with the same speed and accuracy. The usual date for disbursement is April 26, however the Fund emphasised ...