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Monthly Archives: January 2016

Xerox to split into two, Icahn to get board seats in one

REUTERS: Xerox Corp said it would split into two companies, one holding its legacy hardware operations and the other its business process outsourcing unit, in which activist investor Carl Icahn will get three board seats. Icahn, who first revealed a stake in Xerox in November, had said he would seek representation on the company’s board as well as pursue strategic ...

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Iran crude exports hit 2-year high, up more than 20p

Iran’s oil exports are set to rise more than a fifth in January and February from last year’s daily average, data from a source with knowledge of its loading schedules shows, revealing how Tehran is ramping up sales after the lifting of sanctions. The data is the first sign of a resurgence in crude shipments as the Opec producer begins ...

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Within Opec, Iran is a challenge to any deal on oil cuts

Iran, boosting oil exports after the lifting of sanctions, is talking of a need to recoup its market share, making the Opec member a challenge to any deal among producers to fix a supply glut, Opec sources said on Thursday. Russian officials have decided they should talk to Saudi Arabia and other Opec countries about output cuts, the head of ...

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Asia stocks jump, yen weakens as BOJ adopts negative rates

Asian shares jumped on Friday and the yen swooned after the Bank of Japan stunned markets by adopting negative interest rates in its boldest step yet to reinflate the long-languishing economy. The yen fell across the board and sovereign bonds rallied after Japan’s central bank said it would charge 0.1 per cent for excess reserves parked with the institution, an ...

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Oil climbs on hopes for output cut, dollar slips

Crude oil prices rose to their highest in three weeks on hopes for a pact among oil producers to cut output, while the dollar slipped on bets that interest rate hikes by the Federal Reserve would be more gradual than it has suggested. The rebound in the oil market lifted share prices on Wall Street and other stock markets in ...

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Airbus signs Iran deal for 118 planes worth $27bn

Iran has agreed to buy 118 Airbus jets worth $27 billion at list prices, including a dozen A380 superjumbos, after international sanctions were lifted against Tehran this month. The planemaker said the deal, signed amid a raft of others during a visit by President Hassan Rouhani, was conditional on getting US export licences because more than 10 per cent of ...

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Qatar Airways to get 30 new aircraft this year

Qatar Airways group chief executive Akbar Al Baker has revealed that the carrier is expected to add over 30 new aircraft to its fleet this year, said a report. “We are expecting the delivery of some 31 aircraft this year provided all the delivery programme is on schedule,” Al Baker told The Peninsula on the sidelines of a press conference ...

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Dubai receives over 14.2m overnight visitors

Dubai welcomed over 14.2 million overnight visitors in 2015, recording a strong 7.5 per cent increase over 2014, according to annual figures released by Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism). The figure was double the United Nations World Travel Organisation’s (UNWTO) projected 3-4 per cent global travel growth for the same period. Dubai Tourism said the emirate’s ...

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Iran to take delivery of 100 Airbus planes in four years

Iranian state television reported on Thursday that Europe’s Airbus will deliver 100 passengers planes to the Islamic republic within four years. “The contract with the Airbus has been finalised … the planes will be delivered to Iran as soon as possible within four years … Tehran will pay for the planes in 10 years … all the planes will be ...

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WHO in emergency session to stop Zika virus

The World Health Organization will hold a special session on Thursday on the Zika virus for quick action against the infection linked to thousands of birth defects in Brazil that is spreading through Latin America and the Caribbean. The World Health Organization will hold a special session on Thursday on the Zika virus as the U.N. agency comes under pressure ...

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