Saudi Arabia's Public Investment Fund (PIF) launched a new venture that will invest $3 billion in developing tourism and infrastructure in the southwestern Asir region, the state news agency SPA reported on Wednesday.
Kuwait said on Tuesday it was confident parliament would cooperate to find solutions and implement financial reforms to cover its deficit, the finance ministry said in a statement.
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PARIS, Feb 23 (Reuters) - Planemakers Airbus and Boeing are bracing for some jet order cancellations from troubled Norwegian Air amid restructuring proceedings, industry sources said.
Norwegian last year won protection from bankruptcy in both Norway and Ireland, where most of its assets are registered, and is aiming to emerge with fewer aircraft and less debt.
The Irish High Court this week is hearing arguments concerning the repudiation of some of Norwegian’s liabilities including aircraft leases.
“There is a hearing ongoing and we can’t comment until that is over,” a Norwegian spokesman said.
Airbus had no immediate comment. Boeing was not immediately available for comment. (Reporting by Tim Hepher, Victoria Klesty, Conor Humphries)
A gauge of global equity markets rose on Wednesday after Federal Reserve Chair Jerome Powell said interest rates will remain low, calming market jitters sparked by a jump in U.S. Treasury yields on fears that a robust recovery would drive inflation higher.