Ren Hongbin of China's State-owned Assets Supervision and Administration Commission (SASAC) told reporters during a press briefing that more than 95% of central government-controlled companies in key sectors such as oil refining, communication, power and transport sectors are currently in operation.
Singapore Airlines to reduce flights across network due to virus impact
Singapore Airlines Ltd said on Tuesday it will temporarily cut flights across its global network in March, April and May due to weaker demand as a result of the coronavirus epidemic.
Destinations that are among those with services reduced include Los Angeles, Frankfurt, Paris, Tokyo, Seoul, Jakarta, Sydney and Mumbai, the airline said on its website.
China virus threatens global antibiotics supply
The world could face a shortage of antibiotics if the pharmaceutical industry's supply problems posed by the coronavirus outbreak in China cannot soon be resolved, the head of a European business group in China warned on Tuesday.
EU Chamber of Commerce President Joerg Wuttke told a roundtable in Beijing that the synchronisation of supplies in China was being hampered by the outbreak, also highlighting problems in the car industry, while inventories were surging.
Apple unlikely to meet revenue guidance due to coronavirus impact
Apple Inc warned on Monday it was unlikely to meet a sales target set just three weeks ago amid lost production and weakening demand in China from the coronavirus outbreak.
The illness has killed 1,770 in China and stricken some 70,500 people, with millions of others confined to their homes and factories slow to reopen after the Chinese New Year holiday break was extended due to the virus.
Manufacturing facilities in China that produce Apple's iPhone and other electronics have begun to reopen, but they are ramping up more slowly than expected, Apple said. That will mean fewer iPhones available for sale around the world, making Apple one of the largest Western firms to be hurt by the outbreak.
Samsung offers phone delivery service for test use to ride out coronavirus impact
Samsung Electronics has launched smartphone delivery services for customers to test its new products, as the spread of the coronavirus has prompted the tech giant to cancel promotional events and brace for weak store sales.
The move highlights efforts made by the global smartphone industry, one of the tech sectors most hurt by the virus outbreak in China, to minimise the impact on business.
Analysts say the virus may slash demand for smartphones by half in the first quarter in China, the world's biggest market for the devices.
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