Britain on Tuesday announced a 100 million pound (124 million euro) aid package to support Palestinian refugees in the Middle East for the next three years.
The British embassy in Amman said International Development Minister Alan Duncan made the announcement after a visit to the Baqaa Palestinian refugee camp near the Jordanian capital.Full Story
NetJets, which sells partial ownership interests in business jets, said Monday that it plans to spend up to $9.6 billion on as many as 425 new planes from Cessna and Bombardier.
CEO Jordan Hansell said the orders reflect that NetJets, which is owned by Warren Buffett's Berkshire Hathaway Inc., is "optimistic about the economy over the long term."Full Story
Iraqi Airways is looking to update its fleet of planes by renting modern aircraft from foreign firms, a transport ministry statement said Monday.
"Iraqi Airways ... plans to update and develop its fleet by communicating with many international aviation companies about renting modern planes that suit the flights the company flies," the ministry said on its website.Full Story
The euro was weak in Asian trade Tuesday as optimism fizzled over a Eurozone deal to save Spain's troubled banks, with questions about the plan and wider Europe concerns weighing on the unit.
The common currency was changing hands at $1.2483 in Tokyo morning trade, well below Monday's rally which saw the unit soar past the $1.26 level, and just a shade higher than $1.2482 in New York trade late Monday.Full Story
Kuwait's Oil Minister Hani Hussein said on Monday that oil producing countries are concerned over the drop in oil prices and the "strange" behavior of the oil market.
"Some of the (OPEC) members are concerned about the prices and what's happening," in the oil market after crude prices dropped more than 20 percent during the past two months, Hussein told reporters.Full Story
A deal for Europe to rescue Spain's stricken banks raised questions Monday in neighbor Portugal, struggling to stick to the tough conditions set in its own bailout accord and hoping for some respite.
Centre-right Prime Minister Pedro Passos Coelho insisted Lisbon must stick to the terms of its 78-billion-euro EU-IMF agreement but the Spanish deal, aimed exclusively at the banks, imposes no austerity or reform demands on Madrid.Full Story
Asian markets and the euro rallied Monday after the eurozone agreed to lend Spain up to $125 billion to save its banks, but analysts warn the deal is just a sticking plaster for Europe's wider problems.
The weekend also saw China release a mixed bag of data that, despite not being as bad as expected, was unable to soothe dealers concerns over the world's second biggest economy. But it did provide hope that Beijing will introduce more easing measures.Full Story
Airline industry group IATA warned on Monday global profits would more than halve this year owing to surging oil prices and the Eurozone crisis, with European carriers suffering losses of $1.1 billion.
Tony Tyler, head of the International Air Transport Association, also hit out at a controversial carbon tax scheme put in place by the European Union, lashing it as a "polarizing obstacle to real progress".Full Story
With an aim to foster the impact of their partnership in empowering youth in Lebanon, INJAZ Lebanon and HSBC held a press conference announcing the outcome of delivering their jointly developed program, “More Than Money” for the last two academic years 2010-2011 and 2011-2012 in Lebanon, a press release said Monday.
The event was held at Ahlia School, Down Town, Beirut, marked by the attendance of François-Pascal de Maricourt, CEO HSBC, as well as, Rida Ayach, Principle Ahlia School, and Rania Jalkh Lteif representing INJAZ Lebanon.Full Story
Low-cost airline Norwegian has confirmed its order of 100 Airbus A320neo planes with a list price of $9.6 billion (7.7 billion euros), Airbus said Friday.
The order, initially placed in January, was part of a massive deal to acquire the latest fuel-efficient aircraft that will put Norwegian in a strong position to further erode the position of traditional carriers.Full Story