12042016Sun
Last update: Sun, 04 Dec 2016 11pm

Industries & Sectors

Business & Finance - Industries & Sectors

Airbus to fly biggest A350 in battle of big twinjets PARIS: Airbus is preparing to stage the maiden flight of its largest twin-engined airplane, the A350-1000, stepping up a war for sales in a market segment dominated by US rival Boeing.Barring bad weather that could lead to a postponement, Thursday's roughly three-hour debut will add a new 366-seat member to the lightweight carbon-fibre A350 family, which entered service with the smaller A350-900 early last year. It is part of a game of leapfrog at the top of the market for twin-engined long-haul jets, as the dominant planemakers vie to outdo each other in size and efficiency in a category expected to generate $1 trillion in orders over the next 20 years. It is also at the centre of a new subsidy row between Europe and the United States at a time of protectionist pressures on both sides of the Atlantic. The World Trade Organization is expected to rule in coming ...

Business & Finance - Industries & Sectors

Lufthansa pilots' strike wreaks havoc on flight schedule BERLIN: Lufthansa pilots in Germany began a two-day strike on Wednesday, grounding some 1,800 flights at one of Europe's largest airlines in a long-running pay dispute. The Vereinigung Cockpit (VC) pilots' union initially called a 24-hour walkout for Wednesday, but extended the strike for an extra day after two courts rejected attempts by Lufthansa to halt the industrial action. Lufthansa, led by CEO Carsten Spohr, insists that despite a record profit in 2015, it has ...

Business & Finance - Industries & Sectors

Former Rosneft exec Kalanda joins Russia's Transneft MOSCOW: A former senior manager at Russia's biggest oil producer Rosneft, Larisa Kalanda, has joined state oil pipeline monopoly Transneft as vice-president, Transneft said on Wednesday. Kalanda, born in 1964, will oversee legal matters at Transneft and will be in charge of government relations, Transneft said in a statement. Kalanda, who was seen as a close ally of Rosneft Chief Executive Igor Sechin, has worked for around a decade at Rosneft, leaving the post of ...

Business & Finance - Industries & Sectors

UAE's Air Arabia confirms options for five Airbus A320s DUBAI: Budget carrier Air Arabia , the United Arab Emirates' only publicly-listed airline, said on Wednesday it has confirmed options for five Airbus A320 jets. The additional aircraft, valued at $485 million at list prices, will enter into service from the second quarter of 2017, Air Arabia said in statement. It is common for airlines to receive discounts on aircraft orders. The options were part of a 2007 firm order for 44 A320s. The delivery ...

Business & Finance - Industries & Sectors

Lufthansa cancels nearly 900 flights over pilot strike FRANKFURT AM MAIN: Germany's flagship carrier Lufthansa said it would cancel nearly 900 flights on Wednesday because of a strike by pilots, causing travel disruption for tens of thousands of passengers in the latest escalation of a long-simmering pay dispute.The stoppage, called by the pilots' union Cockpit, would start at midnight and affect Lufthansa flights at airports across Germany.Out of its roughly 3,000 scheduled flights, 876 would be cancelled due to the strike, "affecting some ...

Business & Finance - Industries & Sectors

Samsung offices raided over influence-peddling scandal SEOUL: South Korean prosecutors on Wednesday raided offices of the Samsung Group and the state pension fund as the electronics giant is dragged further into a snowballing influence-peddling scandal engulfing President Park Geun-Hye. The raid comes as Samsung faces allegations it bribed Park's confidant Choi Soon-Sil to win state approval for a controversial merger it sought last year. Prosecutors visited the group's Future Strategy Office, which oversees key business decisions, the Yonhap news agency reported. ...

Business & Finance - Industries & Sectors

Fiji Airways orders five new Boeing 737s SUVA: Fiji Airways announced on Wednesday it had ordered five new Boeing 737s -- reportedly worth $470 million -- as part of a fleet upgrade programme at the Pacific nation's flag carrier.The airline said it would take delivery of two Boeing 737 MAX 8 aircraft next year and three more in 2018 to replace five earlier-model 737s currently operating.It did not reveal the cost of the deal but local media reports put the price at ...