DUBAI / Reuters Oman’s new budget airline SalamAir will operate as many as 12 Airbus A320 narrow body jets by 2020, as it aims for profitability by the end 2018, its chief executive said. Launched in January, SalamAir has started flights from Muscat to Dubai, Jeddah in Saudi Arabia and Salalah in Oman. It plans to increase its fleet ...

  Bloomberg Blackstone Group LP’s quest to be the first company to build back-up power plants in southern Germany faltered after the European Commission queried whether the nation needs the facilities at all. The world’s biggest private equity firm’s PQ Energy unit says an EU antitrust probe could delay a bid to build new reserve power plants in Germany’s industrial ...

  Bloomberg Oil’s recovery is helping ease the pain of shrinking output by China’s biggest energy producers. PetroChina Co., the country’s largest producer, reported first quarter earnings swung to a profit thanks to the surge in prices, even as total output fell 6.3% from a year ago. China Petroleum & Chemical Corp., the refining giant known as Sinopec, saw net ...