PARIS: Engine makers for next-generation Airbus and Boeing narrow-body jets stepped up their war of words yesterday, claiming their new power plants will burn less fuel, last longer without maintenance and create less noise than the rival.
CFM International, the engine maker for about three-quarters of the orders for next-generation Airbus and Boeing narrow-body jets, said its LEAP engine will deliver 15 percent lower fuel burn and 2-3 percent lower operating costs compared with the rival geared turbofan engine by Pratt & Whitney.
Pratt & Whitney hit back saying its engine has undergone testing on aircraft, giving its claims of 15 percent lower fuel burn much more credibility. CFM has tested parts but not a full engine. “We are within 10ths of a percent of that figure,” Robert Saia, vice president of the next-generation product family at Pratt & Whitney, said in an interview.
Bulgaria to raise fiscal deficit to two percent of GDP: Minister
SOFIA: Bulgaria’s Socialist-led government plans to increase the fiscal deficit this year to two percent of gross domestic product from 1.4 percent at present mainly due to an expected drop in revenue and increased spending, the finance minister said yesterday.
Petar Chobanov said weaker than initially expected economic growth would lower revenues by about 1bn levs ($656.08m), while signed contracts to businesses showed spending would come some 500m levs above the plans in 2013.
“We are considering to increase the deficit up to 2 percent ... There is nothing dramatic about it. There are increased dues to businesses and a drop in revenues,” Chobanov told BNR national radio.
Bulgaria, the European Union’s poorest country, is expected to grow by about 1 percent this year, after expanding by 0.8 percent in 2012. It ended 2012 with a budget deficit of 0.5 percent.
Jarir Marketing Q2 net profit jumps 17.9pc, misses view
DUBAI: Saudi Arabian retailer Jarir Marketing said yesterday its second-quarter net profit climbed 17.9 percent on the back of increased sales, with smart phones the primary driver. The retailer said its net profit was SR126.2m ($33.7m) for the three months to June 30, up from SR107m in the corresponding period of 2012, a statement to Saudi bourse showed.
However, the results slightly missed the average forecast of analysts polled by Reuters, which expected a net profit of SR128.9m.
Jarir’s total turnover in the second quarter was SR1.26bn, up 18.1 percent on the same three months last year.
Agencies
