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EU shaves Greek debt and doles out bailout

After two false starts in as many weeks, international lenders on Tuesday reached a deal to overhaul Greece’s faltering bailout programme and release a long-delayed €34.4 billion aid payment by agreeing to a series of measures that could relieve Greece of billions of euros in debt by the end of the decade.

The measures, which include


Airbus, Boeing launch airliner ad war as rivalry heats up

Paris: Airbus and Boeing have clashed over the performance of their latest revamped models as the aerospace companies battle for market share by offering fuel savings to cash-starved airlines.

The dispute is being splashed across the columns of specialist industry magazines in a series of negative ads as the world’s dominant aircraft makers battle t


McGraw-Hill sells education division to Apollo

New York: McGraw-Hill said on Monday that it reached a deal to sell its education arm to private equity firm Apollo Global Management LLC for $2.5 billion in cash and debt, as part of its plan to focus on its financial information businesses.

As part of the deal, McGraw-Hill will receive $250 million in Apollo debt with an annual interest rate of


Google acquisition release was hoax

New York: A bogus news release prompted several websites to run incorrect articles about Google making a $400 million (Dh1.47 billion) acquisition of a wireless company on Monday, the target company ICOA said.

“This was a hoax. We are investigating the source,” said an emailed statement from George Strouthopoulos, chairman and chief executive of ICO


Turkish Airlines eyes possible $500m lease deal

Istanbul: Turkey’s national carrier Turkish Airlines is in talks with banks about a leasing arrangement worth around $500 million to help fund its plane orders from 2014, bankers familiar with the negotiations said on Friday.

The airline is considering using Enhanced Equipment Trust Certificates (EETCs) for the first time — financial securities i


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