Saudi Aramco has been directed by the Ministry of Energy to raise its oil production capacity to 13 million barrels per day (bpd) from 12 million bpd now, the company's Chief Executive Amin Nasser said in a statement on Wednesday.
The global business travel sector is expected to take a revenue hit of about $820 billion, with China accounting for nearly half of the losses, as corporates curb travel plans in the wake of the coronavirus epidemic, an industry body said http://bit.ly/38HSMrG on Tuesday.
China's construction activities were stalled in February as the government extended Lunar New Year holidays and advised people to stay indoors as a precaution against a coronavirus outbreak.
Oil prices climbed for a second day on Wednesday as hopes U.S. producers would cut output lent support, but gains were capped by growing doubts about Washington's stimulus package to fight the coronavirus, which continues to spread globally.
Major banks are at risk of losing billions of dollars of fee-based retail revenue as they face increased regulatory pressure and growing competition from new entrants offering no-fee services, Accenture Plc said on Wednesday.
Citigroup has hired Loretta Ko to return to the investment bank and head its financial institutions group (FIG) for Hong Kong, the bank said on Wednesday.
The IRS is giving some relief to individuals in high-deductible medical plans: Their insurance may cover the cost of COVID-19 testing and treatment. Be aware this is guidance and not a mandate, so check with your plan first.
A United States travel ban on European visitors will hit U.S. airlines, their employees, and travelers "extremely hard", trade group Airlines for America said on Wednesday.
The new U.S. ban on foreign citizens entering the country if they have traveled to Europe in recent weeks will heap more pressure on airlines already reeling from the coronavirus pandemic, hitting European carriers the hardest, analysts said.
Oil prices slumped again on Thursday amid a broader market rout after the United States banned travel from Europe following a declaration that the coronavirus outbreak is now a pandemic.
Global shares crumbled on Thursday after U.S. President Donald Trump stunned investors by announcing a temporary travel ban from Europe in an effort to curb the spread of the coronavirus, threatening more disruptions to businesses and the world economy.
Trump administration officials have postponed for a second time a critical meeting originally set for Wednesday to discuss potential new U.S. restrictions on sales of technology to Huawei and China, people familiar with the matter said.
Boeing Co is freezing new hiring and overtime except in certain critical areas to preserve cash, the U.S. planemaker's CEO said on Wednesday, as the coronavirus outbreak compounds the fallout from a year-old grounding of its money-spinning 737 MAX.
Global shares were set for a rocky ride on Thursday as investors tally the economic damage of coronavirus, a day after the U.S. Dow Jones industrials entered bear market territory and world health officials declared the virus a pandemic.
Leading U.S. bank executives in a meeting with President Donald Trump at the White House said banks are strongly capitalized and prepared to help small businesses and American consumers weather the coronavirus outbreak.