U.S. aerospace group Boeing and India's Tata Advanced Systems announced Monday they are joining up to make airframe parts for the AH-64 Apache attack helicopter.
After initially building a manufacturing center in India for the Apache, they will expand the partnership to compete for further work on Boeing commercial and defense platforms, they said in a statement released during the Dubai Air Show.Full Story
French Prime Minister Manuel Valls said Sunday he was opposed to a full merger of Renault and Nissan, but wanted to "preserve the alliance", following a week of mounting tensions over the role of the state in the carmaker.
"What we want is to preserve the alliance, we don't want a merger. The state fully plays its role as a shareholder... and at the same time we have confidence in the managers of Nissan and Renault," Valls told reporters.Full Story
The Dubai Airshow took off Sunday to a slow start with a record low in sales expected as the Gulf's main airlines have already placed large orders with major manufacturers.
"Due to large previous orders, the total show order tally this year will be much less than years prior," said Ben Moores, senior analyst at IHS Aerospace, Defense & Security.Full Story
Huge blue and pink diamonds, the star attractions at major jewel auctions in Geneva in the coming days, are expected to fetch tens of millions of dollars and possibly set new world records.
The anticipated sales prices for the two stones are part of a trend that has seen the market for colored diamonds explode, with values more than doubling over the last two decades.Full Story
As International Monetary Fund chief Christine Lagarde's mandate enters the final stretch, emerging-market powers seem hesitant about teaming up to try to wrest the job away from Europeans.
The IMF managing director has said she is "open" to seeking another term when her time is up in July 2016, while the so-called BRICS -- Brazil, Russia, India, China and South Africa -- seem divided about a power bid.Full Story
Energy-rich Turkmenistan's leader has ordered the start of construction on a pipeline carrying gas from the former Soviet state to India, Pakistan and Afghanistan, the government said Saturday.
President Gurbanguly Berdymukhamedov ordered state companies Turkmengaz and Turkmengazneftstroi to begin building the isolated republic's section of the pipeline, state media said.Full Story
Prime Minister Narendra Modi on Saturday announced $12 billion in financial assistance to Indian-administered Kashmir, more than a year after deadly floods devastated parts of the disputed Himalayan region.
Speaking in the main city of Srinagar amid intense security, the Hindu nationalist leader said he wished to take India's only Muslim-majority state back to its "former glory".Full Story
Two top aides of World Bank President Jim Yong Kim, including his controversial chief financial officer, are stepping down, according to a Bank internal memo obtained by AFP on Friday.
The two became key lieutenants Kim after his arrival in July 2012, crucial to his efforts to implement deep reforms at the huge development institution.Full Story
With its cash reserves in sharp decline, Venezuela withdrew $460 million from the International Monetary Fund last month in its third such operation this year.
The IMF website showed Friday that Venezuela exchanged part of its Special Drawing Rights -- an international reserve asset created by the IMF -- account at the Fund for greenbacks.Full Story
Danish shipping and oil conglomerate A.P. Moller-Maersk on Friday reported a near halving of profits as it was hit by weaker container freight rates and lower oil prices.
The decline "was primarily due to container freight rates deteriorating to a historically low level, especially in the later part of the third quarter, and profits in Maersk Oil being impacted by the lower oil price," chief executive Nils Andersen said in a statement.Full Story