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MUMBAI: With US two-cent airfares, high fuel costs and taxes, India’s aviation market already was one of the toughest around. The coronavirus pandemic could be the final straw for some of the country’s airlines.
NEW YORK: Fresh from cracking US$1,800 an ounce, the global gold market wants to know what the Federal Reserve may do next to rescue the US economy, with minutes due yesterday that are expected to shed light on the central bank’s willingness to embrace yield curve control.
PETALING JAYA: Green Packet Bhd’s KipleLive contactless and face recognition platform was deployed at the “Pasca PKPP Sektor Pelancongan” seminar held yesterday, which was one of the first few live events to be conducted since the movement control order (MCO).
SEPANG: As the COVID-19 pandemic left the global aviation industry in dire straits, Malaysia Airports Holdings Bhd (MAHB) has implemented a cost optimisation plan where its capital expenditure (capex) has been reduced to RM320 million from RM1.8 billion set earlier.
KUALA LUMPUR: CIMB Group Holdings Bhd will engage with borrowers from the hardest hit sectors to extend support and restructure terms, where necessary, said group chief executive officer Datuk Abdul Rahman Ahmad.
TOKYO: Nissan chief executive Makoto Uchida told shareholders yesterday he was giving up half his pay after the Japanese automaker sank into the red amid plunging sales and plant closures in Spain and Indonesia.
XIAMEN: Luckin Coffee Inc’s board will require chairman Charles Zhengyao Lu to resign, adding to the fallout from an accounting scandal that has battered the one-time market darling
FRANKFURT: Commerzbank AG chief executive officer Martin Zielke may eliminate more than 7,000 jobs and close about 400 branches as he tries to respond to frustration among shareholders, including the German government and Cerberus Capital Management, over the pace of cost-cutting efforts, according to sources.