Sunday, 31 May 2020

Business

Boeing 737 MAX expected to resume flying in January

NEW YORK: Boeing said it expected the 737 MAX airplane, which was grounded after two crashes killed 346 people, to resume flying in January, delaying its return by one month. “In parallel, we are working towards final validation of the updated training requirements, which must occur before the MAX returns ...

Read More »

FAA downgrades Malaysia’s air safety rating

KUALA LUMPUR: The US Federal Aviation Administration (FAA) has downgraded Malaysia’s air safety rating, restricting the country’s airlines from adding flights to the United States, four sources familiar with the matter and a US government official told Reuters. The FAA’s safety rating is based on a country’s aviation oversight regime ...

Read More »

Alibaba hires more banks on up to $15 billion listing

HONG KONG: Alibaba has extended its investment banking syndicate as it works towards a $10 billion to $15 billion listing in Hong Kong at the end of the month, according to three sources with direct knowledge of the matter. The online Chinese retail giant has appointed Citigroup, JP Morgan and ...

Read More »

Egypt’s inflation lowest in nearly a decade

CAIRO: Egypt’s inflation rate dropped to the lowest level in nearly a decade last month, official figures showed Saturday, as cheaper food offered respite to consumers squeezed by IMF-backed reforms. The annual inflation rate was 2.4 percent in October, compared with 17.5 percent a year earlier, the Central Agency for ...

Read More »

Heavy rainfall floods stores in the Dubai Mall

DUBAI: Heavy rains and strong winds caused water leaks and flooded some stores in The Dubai Mall today. Dubai and Abu Dhabi have been subject to exceptionally strong winds and heavy rainfall, resulting in numerous road accidents, traffic jams and floods in the streets. Circulating videos and photos on social ...

Read More »

Asian shares give up gains as Hong Kong chaos hits sentiment

SYDNEY: Asian shares reversed gains on Monday, the yen ticked higher and gold jumped as fresh violence broke out in Hong Kong, while uncertainty still remained over whether the United States and China could end their damaging trade war. Hong Kong s Hang Seng index .HSI led the losses in ...

Read More »

Iran discovers massive oil field

TEHRAN: Iran has discovered a massive new oil field, President Hassan Rouhani said on Sunday, a find that would boost its proven reserves by about a third for an economy battered by US sanctions. In a speech aired on state TV, Rouhani said the country’s economy had stabilised despite punishing ...

Read More »

US accuses two former Twitter employees of spying for Saudi Arabia

WASHINGTON/SAN FRANCISCO: Two former employees of Twitter and a third man from Saudi Arabia face US charges of spying for the kingdom by digging up private user data and giving it to Saudi officials in exchange for payment, a complaint from the Department of Justice shows. Ali Alzabarah and Ahmad ...

Read More »

Cyprus signs $9 billion natural gas deal

NICOSIA: Cyprus announced it had signed its first natural gas exploitation deal worth $9.3 billion with a consortium comprised of industry giant Shell, US-based Noble and Israel´s Delek. “Noble Energy, Shell and Delek now have in their hands the first exploitation license granted by the Republic of Cyprus so they ...

Read More »

EU countries call for aviation tax

BRUSSELS: Nine European Union states have called on the bloc’s incoming Commission to introduce a EU-wide tax on aviation in order to charge a polluting industry more for its emissions and to put all member states on level pegging. In a letter to the bloc’s new climate official, Frans Timmermans, the ...

Read More »