WASHINGTON (Reuters) – The U.S. Federal Aviation Administration is allowing U.S. airlines to resume operations over large areas of the Gulf, saying that a lower military posture by Iran has reduced the threat of miscalculation or misidentification of civilian flights. A notice issued on Friday by the FAA rescinded restrictions imposed on U.S. air carriers […]

DUBAI (Reuters) – Oil production at the West Karoun oilfields in southwest Iran has increased five-fold in the past six years, Iran’s Oil Minister Bijan Zanganeh said on Saturday, according to the news site of the oil ministry SHANA. SHANA did not give a figure for the current daily production of oil at West Karoun. […]

MUNICH (Reuters) – Facebook Chief Executive Mark Zuckerberg accepts that global tax reforms mean it may have to pay more taxes in different countries, excerpts of a speech he is due to deliver in Germany on Saturday show. Cross-border tax rules are set to be rewritten after 137 states sought last month to avoid a […]

BARCELONA (Reuters) – Companies that have spent money on a major telecoms conference in Barcelona that has been cancelled after mass withdrawals due to the coronavirus outbreak cannot expect compensation under the organisers’ standard insurance, they said on Thursday. The GSMA telecoms body cancelled the Feb. 24-27 event on Wednesday despite assurances from local and […]

HONG KONG/SINGAPORE (Reuters) – Bankers in Asia are bracing for a deal drought as efforts to limit the spread of the coronavirus epidemic have put key meetings and roadshows on hold. Several auctions of assets are facing delays or re-assessments and preparations for potential Chinese initial public offerings (IPOs) are also slowing, bankers said. “All […]

DUBAI (Reuters) – Egypt’s Canal Sugar will produce 400,000 tonnes a year of white sugar when it starts production in the 2021 season, the chief executive said on Monday. Construction of the company’s sugar beet factory will be completed this year and the project will reach full capacity of 900,000 tonnes of white sugar a […]

BEIJING (Reuters) – China’s finance ministry said on Sunday all levels of government had allocated a total of 71.85 billion yuan ($10.26 billion) as of Saturday afternoon to fight coronavirus. The ministry will deploy the funds to ensure that members of public can afford diagnosis and treatment, it said in a statement on its website. […]

(Reuters) – Chinese authorities have blocked a plan by Apple supplier Foxconn to resume production in China from Monday, the Nikkei business daily reported on Saturday, amid concerns about the spread of the new coronavirus. Public health experts carried out inspections at Foxconn’s factories in the southern city of Shenzhen and told the company that […]

LONDON (Reuters) – Nike has launched a new running shoe that complies with limits set by World Athletics after the governing body imposed a landmark ban on a version of the sportswear giant’s Vaporfly shoes that was used to run the first sub-two hour marathon. The first-ever shoe ban by World Athletics (WA) last week […]

LONDON (Reuters) – The European Union’s markets watchdog asked its British counterpart on Thursday to ensure that ICE Futures Europe and the London Metal Exchange fully comply with the bloc’s market transparency rules for commodity derivatives. The clash comes less than a week after Britain left the EU, though it has undertaken to apply all […]