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Washington / AP A UN panel approved a temporary ban on cargo shipments of rechargeable lithium batteries on passenger planes because they can create intense fires capable of destroying an aircraft. The decision by the Montreal-based International Civil Aviation Organisation’s top-level governing council isn’t binding, but most countries follow the agency’s standards. The ban is effective on April 1. “This …

Sydney / AFP Australian carrier Qantas on Tuesday said first-half net profit soared 234 percent on the back of belt-tightening and lower oil prices, as it announced a Aus$500 million stock buyback to share the spoils with investors. The Aus$688 million (US$497 million) result comes on the heels of a ruthless cost-cutting drive that has seen thousands of jobs axed …

New York / AFP US corporate major Honeywell has held talks to acquire United Technologies in a deal that would merge the two US industrial heavyweights with major aerospace operations, CNBC reported. Honeywell initiated the talks within the last two weeks, offering United Technologies a premium in stock and cash, the report said, adding that a deal could fall through in …

NEW YORK / Bloomberg Sysco said that it will pay about $800 million to buy rival European food distributer Brakes Group, a deal which will help the company expand in the region. The companies valued the deal at $3.1 billion, when $2.3 billion of debt is included. Houston-based Sysco is purchasing Brakes Group from its private equity owner, Bain Capital. …

OSLO / Relaxnews The Norway-based budget airline will start flying a nonstop Paris-New York route with introductory fares starting at $US175/€179 from July 29. Norwegian is also opening Paris-US routes connecting the French capital with Los Angeles and Fort Lauderdale. Low-cost airlines have now officially brought their price-crunching battle to long-haul routes. Already known for budget fares between several European …

AFP Africa’s tropical forests are threatened by a palm oil bonanza that has already razed millions of old-growth hectares in Southeast Asia, Greenpeace France warned. The NGO called on European palm and rubber plantation giant Socfin, which controls vast tracts of tropical land in more than half-a-dozen African nations, to join other multinationals in adopted so-called “zero deforestation” policies. Dozens …

AFP An artisanal pasta-maker in northeastern France is struggling to meet demand after adding a crunchy, protein-rich ingredient to the noodles: insects. “The name of the ingredient may be a turnoff, but it’s really delicious, especially with game meat,” smiles Alain Limon as he spreads cricket-flavoured fusilli on a drying rack. Limon, 52, is the only employee at the Atelier …

Our Correspondent / EMIRATES BUSINESS Pasquale Natuzzi, Chairman, CEO and Chief Stylist of the Natuzzi Group – was very young when he started his career. The son of a cabinet-maker, at just 19 years of age he opened a workshop in Taranto with three collaborators, producing sofas and armchairs for the local market. Pasquale Natuzzi talking about his vision behind …

our Correspondent / Emirates Business Smartphones are becoming central to our lives not only for communication and gaming but also for shopping, entertainment and managing utility needs. Over 80% of UAE residents use a Smartphone and spend a significant amount of time with it. In lieu of the upswing, UAE based startup Digital Concepts launched a new mobile app called …

Abu Dhabi / WAM Obaid Humaid Al Tayer, Minister of State for Financial Affairs, opened on Monday the first Arab Fiscal Forum – Fiscal Policy and Growth, in Abu Dhabi, held in co-operation with the International Monetary Fund (IMF). The two-day event is being attended by Christine Lagarde, Managing Director of IMF, Arab Finance Ministers, senior officials, experts from regional …