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Danish Maersk gets 5 years extension for drilling semi-sub in Caspian

COPENHAGEN: BP Exploration (Shah Deniz) has awarded a $523m, five-year extension to Maersk Drilling’s Heydar Aliyev semi-submersible rig. The rig’s current contract off the coast of Azerbaijan in the Caspian Sea was due to expire in May 2016, and the extension will directly continue that deployment. “We are very pleased with the extension for the Heydar Aliyev rig and look ... Read More »

Greece gets debt deal for 3rd bailout

ATHENS: Greece received the debt deal reached at the euro summit in Brussels on Monday over the terms of the third Greek bailout with mixed reactions of relief and disappointment. Speaking to the media before his return here, Greek Prime Minister Alexis Tsipras hailed the outcome, stressing that now scenarios of an imminent Greek default and Grexit were things of ... Read More »

Greece Gets Bailout Deal at Euro Summit, privatization of $50b public property fund

ATHENS: After more than 16 hours of deliberation, the Eurozone’s leaders agreed to save Greece by keeping it in the Eurozone and offer the debt-ridden country a much needed bailout agreement. Speaking on the deal after the Summit, Prime Minister Alexis Tsipras said that “Greeks fought a hard battle to win a difficult deal.” Watch the Greek PM’s statement here. ... Read More »

Greece Gets ECB Lifeline While Tsipras Prepares for EU Summit

ATHENS: The European Central Bank extended Greece a financial lifeline ahead of a meeting of leaders on Monday that may determine its future in the euro. The Athens Stock Exchange bounced back on Friday after the ECB raised the maximum amount of emergency funding that Greek banks can access. Minutes later, Greek Prime Minister Alexis Tsipras used a speech in ... Read More »

Portugal gets bids from 3 bidders for struggling flag carrier

LISBON: Portugal’s government has received three bids for the struggling state-owned flag carrier TAP in its second attempt to privatise the heavily indebted airline since 2012. Transport Secretary Sergio. Transport Secretary Sergio Monteiro would not disclose the names of investors or institutions that made the offers, but sources close to the process told Reuters two Brazil-based aviation tycoons and One ... Read More »

Lafarge CEO gets €2.5m bouns for succefull merger with Swiss Holcim

BERN: Lafarge chief executive Bruno Lafont has been awarded a €2.5 million bonus for the successful merger with Swiss rival Holcim as the cement company announced job cuts. The board of directors of the company awarded Lafont the money “for his key role in the merger project with Holcim” and “his exceptional performance,” according to a document posted on its ... Read More »

Portugal gets 3 bids in TAP airline privatization

LISBON: The Transport Secretary Sergio Monteiro said on Friday that Portugal’s government has received three bids for the struggling state-owned flag carrier TAP in its second attempt to privatise the heavily indebted airline since 2012. He would not disclose the names of investors or institutions who made the offers, but sources close to the process told Reuters two Brazil-based aviation ... Read More »

Portugal gets 3 bids in TAP airline privatization

LISBON: The Transport Secretary Sergio Monteiro said on Friday that Portugal’s government has received three bids for the struggling state-owned flag carrier TAP in its second attempt to privatise the heavily indebted airline since 2012. He would not disclose the names of investors or institutions who made the offers, but sources close to the process told Reuters two Brazil-based aviation ... Read More »

Ryanair gets 90% to 35m kroner in rebates at Kastrup

COPENHAGEN: Ryanair is enjoying generous rebates and bonuses as it sets up shop at Copenhagen Airport. The exact amount is a secret, but recent reports say the breaks run well into millions of kroner. “The details of our start-up discounts is a matter between us and the airline,” airport press officer Søren Hedegaard told Avisen. A look at those guidelines ... Read More »

Copenhagen gets 6 new destinations as Norwegian, Ryanair adds 3 new routes

COPENHAGEN: The Norwegian and Ryanair added three new routes each out of Copenhagen, said on Tuesday. Copenhagen-area travellers will have three new destinations to look forward to come November. Norwegian airline announced Tuesday that it will begin offering direct flights to Las Vegas, Nevada and San Juan, Puerto Rico. It will also fly to St Croix in the US Virgin ... Read More »

Finnish firm Metso gets order for $3b project in Turkmenistan

HELSINKI: Finnish engineering and technology company Metso has received a substantial control valve order for Turkmenistan’s national oil and gas company Turkmengas’ petrochemical plant project. The delivery will include a range of standard and severe service globe valves, butterfly valves and intelligent valve controllers. Turkmengas’ petrochemical plant project is set to primarily produce high-density polyethylene and polypropylene by using natural ... Read More »