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Cathay Pacific Airways Ltd. will slash passenger capacity by 96% in April and May as the coronavirus shuts down travel across the world.
BEIJING/SHANGHAI: China's efforts to pump 800 billion yuan (US$118 billion) into companies via cheap bank loans to counter the economic impact of the virus outbreak have run into a snag: bureaucratic confusion.
FRANKFURT: The worst rout in credit since the global financial crisis deepened in Asia despite the European Central Bank launching massive extra emergency stimulus and a cut in rates by its Australian counterpart.
CHINA'S currency traders are much less worried about the prospects of a global economic recession than their colleagues trading the S&P 500 or the Brazilian real.
HONG KONG: After the coronavirus outbreak caused a nationwide shortage of face masks in January, Chinese officials were quick to ensure that Tesla Inc wouldn’t be left without.
BEIJING: Tencent Holdings Ltd is set to give a glimpse of how the world’s largest gaming company has fared from the coronavirus outbreak after curbs forced millions to stay at home, driving up demand for online games and streaming services.
Bloomberg: Tencent Holdings Ltd. delivered disappointing earnings and warned about a difficult advertising environment in 2020, voicing caution about how China’s first economic contraction in decades might affect its sprawling businesses.
KUALA LUMPUR: Malaysia Airlines will significantly reduce its overall network following the nationwide movement control order between March 18 to 31, 2020.
BEIJING: Goldman Sachs cut its estimate for China’s first quarter gross domestic product to a year-on-year contraction of 9% from a previous forecast of 2.5% growth, citing “strikingly weak” economic data in January and February.
BEIJING: One of the only shelters from the volatility convulsing global equities is looking increasingly vulnerable.