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(MENAFN - AFP) The head of Airbus said Monday the aircraft manufacturer had no intention to stop making the A380, saying the super jumbo had a "bright future" despite a lack of orders this year.

The idea of stopping production of the A380 is "just crazy", Fabrice Bregier said as Qatar took delivery of the first of Airbus's next-generation long-haul A350-900 aircraft.

Bregier ...

 
(MENAFN - AFP) The determination of powerful Gulf OPEC members to stifle competition from new oil producers has left the global energy market reeling and sparked unprecedented uncertainty, officials and experts say.

Gathered in Abu Dhabi for a key conference, senior energy officials from Arab Gulf nations insisted they will not cut production despite the freefall in oil prices.

A ...

 
(MENAFN - AFP) Russia announced plans Monday to limit grain exports as it scrambled to avoid a hike in the politically sensitive cost of bread during the holidays, the latest in a series of moves by Moscow to cope with the consequences of its currency crisis.

Meanwhile China offered unspecified help to Russia, which is dealing with a collapse of the ruble due to tumbling ...

 
(MENAFN - AFP) French industrial giant Alstom will plead guilty and pay a record $772.3 million penalty in a wide-ranging foreign bribery case, the US Justice Department announced Monday.

Alstom admitted to bribing officials to win power and transportation projects from state-owned entities around the world, including the Bahamas, Egypt, Indonesia, Saudi Arabia and Taiwan.

In ...

 
(MENAFN - AFP) India's newest airline announced Monday it will start flying next month and declared it was "enthusiastic" about the future, as shares of troubled rival SpiceJet rocketed on reports of a rescue.

The new carrier, called Vistara -- a Sanskrit word meaning "limitless expanse" -- said it will make its first flight January 9.

The airline is 49-percent-owned ...

 
(MENAFN - AFP) Europe's main stock markets rose strongly on Monday in a renewed "Santa rally" powered by a modest recovery in oil prices early in the day, dealers said.

London's FTSE 100 index of leading shares rose 0.55 percent compared with Friday's close to stand at 6,581.38 points in afternoon trading.

Frankfurt's DAX 30 won 0.55 percent to 9,850.88 points and in ...

 
(MENAFN - AFP) Russian oil major Rosneft, hit by US sanctions over Moscow's role in the Ukraine crisis, said Monday it had to abandon plans to purchase the oil trading business of US bank Morgan Stanley after failing to win regulatory approval.

The December 2013 deal for an undisclosed amount covered Morgan Stanley's Global Oil Merchanting business that included agreements ...

 
(MENAFN - AFP) Wall Street stocks opened mostly higher Monday, following European markets upward ahead of a heavy day of economic data releases Tuesday.

Five minutes into trade, the Dow Jones Industrial Average stood at 17,879.42, up 74.62 points (0.42 percent) to 17,879.42.

The broad-based S&P 500 added 1.40 (0.07 percent) at 2,072.05, while the tech-rich Nasdaq ...

 
(MENAFN - AFP) Britain's accounting watchdog on Monday launched a probe into Tesco's accounts after the troubled supermarket giant admitted overstating its profits earlier this year.

The Financial Reporting Council (FRC) said in a brief statement that it will investigate the financial figures for the last three years reported by Britain's biggest retailer and audited and ...

 
(MENAFN - AFP) Brazilian President Dilma Rousseff said Monday that she would fire top executives at state-owned oil giant Petrobras but keep the scandal-plagued firm's chief, Graca Foster.

"Graca is an ethical person. She told me that if this whole situation damaged the government or Petrobras, she would leave her post no problem. I told her that wasn't necessary," said Rousseff ...

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