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Tanker rates double as demand for storage, transport resurfaces

SINGAPORE, Mar 30 (Reuters): Supertanker freight rates are on the rise for a second time this month as producers, refiners and traders scramble to secure ships to transport crude or store a fast-growing global glut of oil, industry sources said.Freight rates for very large crude-oil carriers (VLCC) along the Middle...

EasyJet grounds entire fleet over coronavirus

LONDON, Mar 30 (AFP): British airline easyJet on Monday said it had grounded its entire fleet because of the coronavirus pandemic but would still be available for rescue flights to repatriate stranded customers."As a result of the unprecedented travel restrictions imposed by governments in response to the coronavirus pandemic and...

German economy set for 'significant' recession

BERLIN, Mar 30 (AFP): Measures to contain the coronavirus outbreak will slash German 2020 economic output by 2.8 to 5.4 per cent before a rebound next year, a panel of economists who advise the government said Monday."The German economy will shrink significantly in 2020," the so-called "Wise Men" expert panel...

Gold gains as virus-led growth fears spur safety buying

BENGALURU, Mar 30 (Reuters): Gold prices edged higher on Monday as investors sought safe havens, with fears about the economic damage from the coronavirus intensifying after governments extended lockdowns to curtail its spread.Spot gold was up 0.3 per cent at $1,621.60 per ounce by 0941 GMT, while US gold futures...

Renault says China, South Korea plants restarting

PARIS, Mar 30 (AFP): French automaker Renault said Monday it was resuming production at two factories in China and South Korea after they were shut down as authorities tried to limit the coronavirus outbreak."All of the group's factories are currently shut down, except for the factories in China and South...

Russia's Rosneft halts work in Venezuela

MOSCOW, Mar 30 (AFP): Russian oil giant Rosneft announced Saturday it is halting its activities in Venezuela and selling its assets there, a country that has been hit by US trade sanctions."Rosneft announces the termination of its operations in Venezuela and the disposal of its assets, related to operating in...