General Electric Co predicted on
Wednesday that the coronavirus would wipe out a substantial
chunk of industrial free cash flow in the first quarter, but
stuck to full-year financial targets the company set in January.
The faster spread of the
coronavirus will wipe out any hope of stronger growth in 2020,
International Monetary Fund Managing Director Kristalina
Georgieva said on Wednesday, adding that a third of the Fund's
189 member countries were now affected.
Saudi Arabia, which has already
suspended pilgrimages to the two holy cities of Mecca and Medina
for foreigners due to coronavirus concerns, extended the ban on
Wednesday to Saudi citizens and residents, state news agency SPA
A majority of Lebanese MPs
oppose paying looming Eurobond maturities, even if that leads to
default, Parliament Speaker Nabih Berri said on Wednesday,
compounding doubts over whether the heavily indebted state will
meet a March 9 repayment.
As one of America's top
stockpickers, Michael Baron faces significant exposure to the
spreading coronavirus epidemic, which has posed a challenge for
travel companies like Hyatt Hotels and Norwegian Cruise
India is pushing
state-run banks to approve new loans amounting to 500-600
billion rupees ($6.8-8.2 billion) by the end of March, according
to two government sources, as authorities seek to shore up a
stuttering economy as the coronavirus spreads.