BERLIN (Reuters) – Germany’s cartel office has prohibited Lufthansa from ending long-term cooperation agreements with charter airline Condor until further notice, saying the national carrier was hindering Condor competing on long-haul routes. Lufthansa has said it would cancel an agreement allowing Condor passengers to use Lufthansa feeder flights as part of their journey to holiday…
By Uditha Jayasinghe COLOMBO (Reuters) -Sri Lanka has reached a preliminary agreement with the International Monetary Fund (IMF) for a loan of about $2.9 billion, the global lender said on Thursday, as the country seeks a way out its worst economic crisis in decades. The agreement, which Reuters first reported on Wednesday, is subject to…
NEW DELHI (Reuters) -Boeing Co expects the 737 MAX 7 will be certified by the end of the year and the larger MAX 10 in the first half of 2023, a company executive said on Thursday. The planemaker faces a year-end deadline from U.S. lawmakers for both or will need to meet new cockpit alerting…
By Praveen Menon and Shashwat Awasthi (Reuters) -Rio Tinto on Thursday reached an in-principle agreement to buy the rest of Canadian firm Turquoise Hill Resources for $3.3 billion, which gives the global miner direct ownership of a giant copper mine in Mongolia. Rio will pay C$43 per share in cash for the 49% of Turquoise…
BEIJING (AP) — Asian stock markets were mixed Friday ahead of U.S. jobs data that might influence Federal Reserve plans for more interest rate hikes to cool surging inflation. Shanghai and Seoul advanced while Tokyo and Hong Kong retreated. Oil prices rose more than $1.50 per barrel. Investors looked ahead to U.S. data on August…
Microsoft’s plan to buy video game giant Activision Blizzard for $68.7 billion could have major effects on the gaming industry, transforming the Xbox maker into something like a Netflix for video games by giving it control of many more popular titles. But to get to the next level, Microsoft must first survive a barrage of…
BERLIN (Reuters) -Germany’s Lufthansa on Thursday said it would do everything possible to minimise the effects of a pilots’ strike set to begin on Friday and defended its offer during wage talks. The union, Vereinigung Cockpit (VC), said late on Wednesday that pay talks had failed and the strike would affect both passenger and cargo…
COLOMBO, Sri Lanka (AP) — The International Monetary Fund announced Thursday it has reached a preliminary agreement to provide Sri Lanka with $2.9 billion over four years to help it recover from its worst economic crisis. The arrangement will help restore financial and macroeconomic stability and debt sustainability as well as enable the country’s growth…
TAIPEI, Taiwan (AP) — Arizona Gov. Doug Ducey on Thursday hailed economic and educational cooperation with Taiwan, marked by a $12 billion investment in his state by Taiwan Semiconductor Manufacturing Corp. Ducey spoke during a meeting with Taiwanese President Tsai Ing-wen, in the latest of a series of visits by U.S. political leaders that have…
By Jorgelina do Rosario and David Lawder (Reuters) – Zambia won International Monetary Fund approval for a $1.3 billion, 38-month loan program on Wednesday, a crucial step in the southern African country’s quest to restructure its debts and rebuild an economy ravaged by mismanagement and COVID-19. The IMF said in a statement that the new…
