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Abu Dhabi’s Etihad Airways to drop San Francisco route from October

FILE PHOTO: An Etihad Airways Boeing 777-3FX aircraft takes off at the Charles de Gaulle airport in Roissy, France, August 9, 2016. REUTERS/Jacky Naegelen/File Photo

Abu Dhabi’s Etihad Airways said on Wednesday it is suspending flights to San Francisco in the United States from October after falling passenger demand curbed the route’s profitability. The flight, launched in November 2014, was already reduced from a daily service to three times a week earlier this year. The suspension is from October 29 and passengers booked to travel ...

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Qatar Airways plans to fly triple daily to holiday hotspot

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Qatar Airways has announced that it will operate a third daily non-stop route from Doha’s Hamad International Airport to Bali Denpasar from Sunday. Bali has long been a popular destination for Qatar Airways’ passengers, with the airline offering its first direct service in 2014, later enhancing this to a twice daily frequency. Qatar Airways Group CEO Akbar Al Baker said: ...

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Dubai’s DP World inks India deal, eyes $1bn investments

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Dubai-based DP World and the National Investment and Infrastructure Fund (NIIF) have signed an agreement to develop the logistics sector in India. The agreement comes as a result of the visit to India in February 2016 of Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, and Sultan Ahmed bin Sulayem, DP World Group chairman and CEO, a ...

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Oil prices rise on potential extension of output cuts

FILE PHOTO: A pump jack is seen at sunrise near Bakersfield, California October 14, 2014.  REUTERS/Lucy Nicholson

Oil prices rose on Wednesday, putting crude futures on track for their longest streak of gains since August 2016, as Saudi Arabia was reported to be lobbying OPEC and other producers to extend a production cut beyond the first half of 2017. Brent crude futures were up 20 cents, or 0.36 percent, at their highest since early March at $56.43 ...

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Oil looms large over Saudi king’s Asia tour

salman

King Salman’s massive entourage has been stealing the show on his tour of Asia, but oil, money and geopolitics are driving the Saudi leader’s month-long journey. Asia’s growing economies are a big deal for Saudi Arabia, which is trying to wean itself off a dependence on oil. “As Saudi looks to the future, Asia of course is front and center,” ...

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Ethiopian is 11th best airline in the world that keeps to time

Ethiopian Airlines another

Africa’s largest airline group, Ethiopian Airlines, has been ranked  the 11th airline company in the world to have been on time for its flights in the month of January 2017. This is according to FlightStats, the leading provider of real-time global flight data to companies and individuals across the travel ecosystem. Of the almost 8,000 flights operated by the airline ...

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Eni CEO Claudio Descalzi charged with international corruption

Eni CEO Claudio Descalzi

Italian prosecutors have reportedly charged Eni and its CEO Claudio Descalzi with international corruption over the controversial acquisition of an offshore block in Nigeria in 2011. Apart from Descalzi, the charge reportedly extends to the former CEO Paolo Scaroni and nine other people involved in the $1.3 bilion deal. Scaroni served as the Chief Executive Officer of Eni from June ...

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New Zealand central bank chief to retire, deputy to act as stand in

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Reserve Bank of New Zealand Governor Graeme Wheeler announced on Tuesday he would not be seeking a second term at the helm of the central bank when his current five-year term ends on Sept. 26. The RBNZ will begin the process to pick a successor later in the year and Grant Spencer, deputy governor and head of financial stability, will ...

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IMF says Greece should meet lower fiscal surplus target

greece

The International Monetary Fund said on Monday that Greece‘s economy would only grow by just under 1.0 percent in the long run given the constraints of its bailout program, but should meet the fiscal surplus target preferred by most IMF directors. In its annual review of Greece’s economic policies, the IMF said most of its board directors favor a Greek ...

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Shell to sell North Sea assets to Chrysaor for $3.8 billion

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Royal Dutch Shell has agreed to sell a package of oil and gas fields to private equity-backed Chrysaor for $3.8 billion, giving the Anglo-Dutch group a major boost in its drive to reduce debt following the acquisition of BG Group. The deal, which accounts for more than half of Shell’s production in the North Sea, will breathe new life into ...

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