06282016Tue
Last update: Tue, 28 Jun 2016 01am

Business & Finance - Industries & Sectors

Airbus says priority for A380 is new customers TOULOUSE: Airbus expects to win more orders for its A380 this year after failing to book any new customers for the superjumbo in 2014.Emirates airline is the biggest customer for the plane and has said it will order more if Airbus upgrades the jet with new engines.But Fabrice Bregier, the head of the planemaking unit of Airbus Group, said at a news conference on Tuesday that the priority was to find other customers for the current version."In the long-term, I believe we will move to an evolution of the A380. But you are not the one to give us the tempo, we are the ones to decide," Bregier said.Copyright Reuters, 2015


Business & Finance - Banking & Finance

Bank of England says to explain inflation fall on Feb 11 LONDON: The Bank of England will publish its explanation of why British inflation is so low on Feb. 11, alongside the publication of its quarterly economic forecasts, the central bank said on Tuesday.Earlier, official data showed that consumer price inflation halved in December to 0.5 percent.BoE Governor Mark Carney is required to explain to finance minister George Osborne in an open letter the reasons for inflation coming in a full percentage point or more above ...

Business & Finance - Industries & Sectors

Roche seals licensing deal for antibiotic-boosting drug to battle superbugs ZURICH: Roche has boosted its efforts to tackle antibiotic resistance, striking a deal worth up to $750 million with Japan's Meiji Seika Pharma and Canada's Fedora for a drug that can restore the power of antibiotics to combat infections. The Swiss drugmaker has eschewed Big Pharma's retreat away from antibiotic research over the past decade, instead rebuilding its activities in the space with several licensing deals and partnerships in recent years. Under Tuesday's deal Roche ...

Business & Finance - Industries & Sectors

Airbus says 2014 gross orders rise 11pc to 1,796 aircraft TOULOUSE: European planemaker Airbus said on Tuesday that it won 1,796 gross aircraft orders before cancellations in 2014, up 11 percent from the previous year and ahead of US arch-rival Boeing's tally of 1,550. This gave Airbus a 54 percent share of the market for commercial jetliners last year. Copyright Reuters, 2015

Business & Finance - Banking & Finance

Bangladesh central bank launches weekly sukuk issues DHAKA: Bangladesh's central bank has launched a weekly Islamic bond issuance programme, providing local lenders with a new short- term liquidity management tool and boosting the prospects of Islamic finance in the majority-Muslim country. Bangladesh has developed a sizeable Islamic finance industry but a lack of sharia-compliant instruments such as sukuk threatens to limit further growth of the sector. The central bank has had a sukuk programme since 2004 which has sold six-month paper, but ...

Business & Finance - Banking & Finance

Turkish central bank opens 4 billion lira repo auction ISTANBUL: Turkey's central bank opened a one-week, fixed-rate repo auction on Tuesday with a volume of 4 billion lira ($1.76 billion), bank data showed. Copyright Reuters, 2015

Business & Finance - Industries & Sectors

China mocks hapless 'iPhone armour' smuggler BEIJING: A man nabbed for attempting to smuggle 94 smartphones into China by strapping them to his body was mocked by amused netizens Tuesday after pictures of his "iPhone armour" went viral.Online images of the man show him covered in dozens of handsets, held together under his outer clothes with clingfilm and masking tape, with commentators comparing him to comic superhero Iron Man.He was held in the southern city of Shenzhen as he tried to ...