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Macron to discuss Renault/Nissan with Japan’s Abe next week

Wednesday, 19 June 2019

French President Emmanuel Macron will discuss the situation regarding the alliance between carmakers Renault and Nissan with Japanese Prime Minister Shinzo Abe next week, said an official at Macron’s Elysee office. “There will certainly be a discussion during the meeting with Prime Minister Abe about questions regarding the relationship between Renault and Nissan,” said the official. “It will be an opportunity for the President to reaffirm the ...

Airbus fights back with big name buyers after Boeing showstopper

Wednesday, 19 June 2019

Airbus sealed plane deals with industry heavyweights Bill Franke and American Airlines on Wednesday, bouncing back from the potential loss of a major customer a day earlier when IAG placed a lifeline order for Boeing’s grounded 737 MAX jet. Franke’s Indigo Partners signed a memorandum of understanding at the Paris Airshow to buy 32 of the new long-range version of Airbus’s A321 jet and to convert 18 existing A320 family jet orders to the larger model. The A321XLR jets will be ...

Oman offers tax breaks on tourism investments in Musandam

Wednesday, 19 June 2019

Oman will offer tax breaks to investors in tourism projects in its northern Musandam peninsula in an attempt to attract investment and bolster the Gulf country’s tourism sector. Oman, whose revenues depend largely on crude oil exports, has been slowly seeking to diversify its economy and to tame widening fiscal deficits caused by lower oil prices. Under a new decree issued by Sultan Qaboos Bin Said, investors will be exempt from custom duties on building materials, tools and equipment ...

Airbus CEO says chances of no-deal Brexit increasing

Wednesday, 19 June 2019

Airbus Chief Executive Guillaume Faury said on Wednesday there was a growing risk Britain would leave the European Union without a withdrawal deal in a way that could damage the aerospace firm's performance next year. “We have been very clear on the potential negative consequences of a hard Brexit or no-deal Brexit. We see that the likelihood of a no-deal Brexit is high and maybe growing,” Faury said at an investor meeting coinciding with the Paris Airshow, adding it was important ...

Morocco central bank leaves benchmark rate at 2.25 percent

Tuesday, 18 June 2019

Morocco’s central bank left its benchmark interest rate unchanged at 2.25 percent on Tuesday, saying current borrowing costs were consistent with medium-term inflation and growth outlook.The central bank, Bank al-Maghrib, has kept the key rate on hold since March 2016, when it cut it by 25 basis points.Inflation, mainly affected by food prices, is expected to slow to 0.6 percent in 2019 from 1.9 percent last year, before picking up to 1.2 percent in 2020 as domestic demand improves, the ...

Lebanon’s Hariri calls for cabinet solidarity in budget debate

Tuesday, 18 June 2019

Lebanon Prime Minister Saad al-Hariri on Tuesday called for parliament to quickly approve the country’s 2019 budget and urged his coalition government to avoid internal disputes. The cabinet this month agreed on a budget plan that shrinks the projected fiscal deficit by 4 percentage points from last year to 7.6% by cutting spending and raising taxes and other fees. “What I want during the debate is for us to be responsible and united, and not ...

Trump says having ‘extended meeting’ with Xi at G20 summit

Tuesday, 18 June 2019

US President Donald Trump said Tuesday he had a positive phone conversation with his Chinese counterpart Xi Jinping and that they will hold an “extended meeting” next week at the G20 summit. Trump’s tweet set a more upbeat tone for his talks with Xi at the summit in Japan after growing questions over whether the world’s two leading economies will be able to resolve their differences and end a huge trade war. “Had a very good telephone conversation with President Xi ...

Euro stimulus talk makes it ‘unfairly easier’ for EU, says President Trump

Tuesday, 18 June 2019

US President Donald Trump complained on Tuesday that possible euro stimulus measures floated by the head of the European Central Bank make it “unfairly easier” for the EU to compete against the United States.Comparing EU policies to those of China, which Trump has engaged in a major trade war, the US president criticized ECB chief Mario Draghi.“Mario Draghi just announced more stimulus could come, which immediately dropped the Euro against the Dollar, making it unfairly easier ...

Lubna Olayan becomes first chairwoman of a publicly-listed Saudi bank

Monday, 17 June 2019

Saudi businesswoman Lubna Olayan became the first chairwoman of a Saudi bank after the Saudi British Bank (SABB) and Alawwal bank confirmed their merger.Olayan had been deputy chair of Alawwal Bank since 2014 and was the CEO of Olayan Financing Company (OFC). She also worked for Morgan Guaranty New York from 1979 to 1981 when she returned to Saudi Arabia to work with Olayan again.Olayan received a Bachelor of Agriculture degree from Cornell University in the United States and an MBA from the ...

Boeing says ‘sorry’ for 737 MAX crashes, seeking renewed trust

Monday, 17 June 2019

Boeing executives apologized Monday to airlines and families of victims of 737 MAX crashes in Indonesia and Ethiopia, as the US plane maker struggles to regain trust of regulators, pilots and the global traveling public.Kevin McAllister, CEO of Boeing’s commercial aircraft, told reporters at the Paris Air Show on Monday that “we are very sorry for the loss of lives” in the Lion Air crash in October and Ethiopian Airlines crash in March. A total of 346 people were ...

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