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World Business Quick Take

■ AVIATION

Gulf Air orders 16 787s

The Bahrain-based airline Gulf Air has ordered 16 Boeing 787 Dreamliners valued at around US$4 billion and taken options for eight more, an airline official said on Saturday. "Gulf Air has signed today [Saturday] with Boeing a firm order for 16 Boeing 787 aircraft and taken the right to purchase eight more of the same aircraft," Adnan Malek, acting head of corporate communication at Gulf Air said. The value of the firm order for the new long-haul jets at list price is around US$4 billion, while the total amount would go up to US$6 billion if options are firmed up in the future, he said.



■ AGRICULTURE

Japan suspends imports

Japan has suspended beef imports from a US meat packing plant that breached rules aimed at preventing mad cow disease, a government official said yesterday. US officials discovered parts of beef consignments from a plant in Pennsylvania came from cattle 21 months old, violating an age limit Japan imposed on US beef imports, the official from the agricultural ministry said. The official said the parts were "discovered during an audit by the US Department of Agriculture and Japan immediately suspended the sale of the beef in question." Japan's government was told of the discovery on Saturday, prompting the suspension, the official said.



■ FINANCE

Sandler waiting in the wings

The former head of Lloyd's insurance market, Ron Sandler, said on Saturday he has been appointed to lead troubled British bank Northern Rock should it be nationalized. "In the event of nationalization, I have agreed I will go in as executive chairman," Sandler said in a statement, explaining that his role would be "to get things stabilised, to make sure the bank has proper plans in place." He would also be responsible for ensuring a management team was in place at the mortgage lender, he said.



■ AVIATION

Airlines mull merger

The chief executive of Northwest Airlines says his carrier could benefit from a merger -- if it is the right deal. As the Delta Air Lines Inc board met to discuss the issue, Northwest Airlines Corp chief Doug Steenland sent an internal memo to employees on Friday saying his airline's board and management team would analyze any deal carefully. "Most importantly, we will carefully consider the impacts on our own employees and ensure that the outstanding employees of Northwest Airlines are included in this process," he wrote. "The right transaction could be of benefit to our employees, our shareholders and the communities we serve."



■ ENERGY

Iraq's oil output rises

Iraq's oil output rose again last month, wrapping up the year with a roughly 25 percent increase over last January's average, the country's oil ministry said on Saturday. The average output last month reached 2.475 million barrels per day (bpd), about 73,000 bpd more than in November, according to figures released by the State Oil Marketing Company. Last month's figures brought the total average of the Iraqi output for 2007 to 2.181 million bpd, a rise of 28,000 bpd over 2006. In January last year, output was 1.9 million barrels. Iraq has the world's third-largest crude oil reserves.
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