Aviation giants Airbus and Boeing Co. have received permission from the U.S. government to sell aircraft to Iran, part of landmark deals potentially worth some $50 billion in total following last year's nuclear accord.
The announcements Wednesday came as Iranian and U.S. leaders are in New York for the United Nations General Assembly and show that the outgoing administration of President Barack Obama is honoring the economic terms of the nuclear pact.Full Story
Zara-owner Inditex posted a rise in first-half profits Wednesday thanks to a well-honed business model allowing the Spanish group to beat rivals in whisking new trends to the shop racks.Full Story
The 'passport' rights allowing 5,500 British-based financial firms to operate freely across the European single market are at stake, the country's financial watchdog has revealed in highlighting potential fallout from Brexit.Full Story
Qatar's budget should be back to "near balance" by 2018, as it overcomes the shock waves from a global fall in energy prices, economists at Qatar National Bank have forecast.
The QNB, in its "Qatar Economic Insight" report, predicts that rising oil prices and the introduction of a value-added tax will help Qatar recover from the deficits expected in 2016 and 2017.Full Story
An oil tanker left the Libyan port of Ras Lanouf for Italy on Tuesday, an official said, the first shipment since fighting erupted over control of the "oil crescent" two years ago.Full Story
As many as 400 migrant staff working for an electrical company in Qatar have gone unpaid for up to four months, a leading figure in the Indian community said Tuesday.Full Story
Oil prices eased in Asia Tuesday with analysts expecting volatility in the run up to a producers' meeting next week, while traders are also awaiting the release of US stockpiles data.
The commodity plunged last week on supply glut worries but bounced slightly Monday after OPEC member Venezuela said a deal to limit output was close. Unrest in key producers Libya and Nigeria also raised the prospect their exports would be hit.Full Story
Billionaire George Soros is pledging to invest up to $500 million in startups, established companies, "social impact initiatives," and businesses started by refugees and migrants.
Soros, who chairs the Open Society Institute, made the announcement Tuesday, following the first-ever U.N. summit on migrants and refugees and ahead of a meeting chaired by President Barack Obama to spur pledges to help the world's 65.3 million displaced people.Full Story
Google faces a bill of over $400 million in Indonesia if authorities find it avoided taxes last year, an official said Monday, as Jakarta began a probe into the U.S. tech giant.Full Story