Bombardier to suspend aircraft, rail production in Quebec and Ontario

Porsche SE FY19 Group Result Rises – Quick Facts

Porsche Automobil Holding SE (POAHY.PK,POAHF.PK) reported that its group result after tax rose to 4.4 billion euros in fiscal 2019 from 3.5 billion euros, prior year. The company said this was significantly influenced by the result from the investment accounted for at equity in Volkswagen AG of 4.4 billion euros. Earnings per share was 14.39 euros compared to 11.39 euros.

The Executive Board of Porsche SE expected a group result after tax of between 3.5 billion euros and 4.5 billion euros for fiscal 2020. The company noted that the forecasts are subject to high uncertainties.

The Executive Board and Supervisory Board proposed a further increase in the dividend for fiscal 2019 compared to the prior year. Holders of preference shares are to receive 3.11 euros per share, holders of ordinary shares 3.104 euros per share.

Turkish cenbank: measures needed for economic areas affected by coronavirus

ISTANBUL, March 24 (Reuters) – The Turkish Central Bank said on Tuesday it was critically important that macro-scale monetary and fiscal policies are complemented with policy measures that target the economic units most affected by the coronavirus pandemic.

In the minutes of its policy meeting last week, the bank also said it was of crucial importance to ensure the healthy functioning of financial markets, credit channels and firms’ cash flows as global growth prospects deteriorate due to the pandemic. (Reporting by Ezgi Erkoyun Writing by Daren Butler Editing by Dominic Evans)

Coronavirus: Tokyo Olympics to be postponed until 2021 over pandemic

Japan’s Prime Minister Shinzo Abe has asked for the Tokyo Olympics to be postponed for a year during talks with organisers.

Mr Abe held talks with International Olympic Committee (IOC) president Thomas Bach on Monday and said a postponement is unavoidable if the 2020 games cannot take place this year due to measures taken to combat COVID-19, NHK television reported.

The IOC has said it will make a decision on the future of the games in the next four weeks.

More follows…

China to increase international cargo flight capacity amid coronavirus outbreak

BEIJING, March 24 (Reuters) – China will increase international cargo flight capacity and stabilise supply chains amid the coronavirus outbreak, the government said on Tuesday.

The government encourages air cargo companies and logistics firms to jointly conduct restructurings, it said on its website.

It will also relax time restrictions on cargo flights during peak hours at certain airports, it said.

Pakistan's BRT transport project delayed amid corruption claims

PM Imran Khan’s provincial government blamed for delays to rapid transport project as probe reveals officials pocketed millions in kickbacks.

Pakistan’s Prime Minister Imran Khan won an election on a promise to end corruption.

But officials are now being accused of receiving kickbacks worth millions of dollars as a landmark rapid transport project, known as the BRT, misses several deadlines.

Al Jazeera’s Osama Bin Javaid reports from Peshawar.

Brazil retail sales fall 1% in January – IBGE

BRASILIA, March 24 (Reuters) – Retail sales volumes in Brazil excluding cars and building materials fell 1.0% in January from December, statistics agency IBGE said on Tuesday, a steeper fall than the median estimate in a Reuters poll of economists of a 0.6% decline.

Sales grew 1.3% from the year-earlier period, less than the expected 2.5% increase in the Reuters poll, the government agency said. (Reporting by Jamie McGeever; Editing by Andrew Heavens)

N.L. Liberal party suspends leadership election campaign during pandemic

The contest to replace Newfoundland and Labrador’s Liberal premier is being suspended due to the COVID-19 pandemic, just days after the party declared it would continue online.

The party says the suspension will be in effect until at least May 1, after which it will be determined whether the situation has improved enough to set a new date for the vote, to be conducted online and by phone.

Coronavirus: Tuesday update from Manitoba health officials

The daily updates continue from Manitoba health officials on Tuesday at 11 a.m.

Global News will livestream the press conference here.

Manitoba’s current novel coronavirus cases stand at 20. One case was added Monday, but another case was removed from the probable list when test results came back negative.

One person has required hospitalization so far and has now been sent home.

Manitoba is currently testing high-priority cases.

Health workers make up nearly 14% of Spain's coronavirus cases

MADRID (Reuters) – Health workers accounted for nearly 14% of Spain’s total reported coronavirus cases as of Tuesday, up from 12% the previous day, according to data presented by health emergency chief Fernando Simon at a news conference.

Some 5,400 health care workers have been diagnosed with the virus, Simon said, out of a total of 39,673 confirmed cases in the country, Europe’s second worst-hit after Italy.

Australia: One million jobs lost over coronavirus pandemic

Closure of many non-essential businesses in Australia – like pubs and cinemas – led to an estimated one million people losing their jobs overnight.

The closure of many non-essential businesses in Australia has led to an estimated one million people losing their jobs overnight.

The government is scrambling to provide financial aid but experts warn that many businesses will not recover from the coronavirus crisis.

Al Jazeera’s Nicola Gage reports from Sydney.

Bombardier to suspend aircraft, rail production in Quebec and Ontario

Bombardier Inc. says it is suspending all non-essential work at most of its Canadian-based operations starting tonight.

The company says the suspension includes Bombardier’s aircraft and rail production activities in the provinces of Quebec and Ontario.

Employees impacted by the temporary shutdowns will be placed on furlough.

More coming.