MIDEAST STOCKS - Factors to watch - Sept 25
Sept 25 Here are some factors that may affect Middle East stock markets on Sunday. Reuters has not verified the press reports and does not vouch for their accuracy.
MILAN/LONDON Jan 29 AgustaWestland, the helicopter unit of Finmeccanica, has won two contracts from Britain's Ministry of Defence worth a total of about 910 million euros ($1.24 billion), the Italian defence group said on Wednesday.
One contract concerns the conversion of 25 AW101 Merlin helicopters for maritime operations, Finmeccanica said in a statement. These will replace Britain's Sea King Mk 4 helicopters which will go out of service in 2016.
Under the second contract, AgustaWestland will provide support and maintenance services for the ministry's fleet of Apache AH Mk.1 attack helicopters for five years.
The announcement is a welcomed respite for the company, which warned earlier this month that it might cut jobs after India cancelled a deal to buy 12 AW101 helicopters over what it termed a breach of integrity.
Britain's Ministry of Defence said the work would be carried out by AgustaWestland at its three sites at Yeovil, Suffolk and Hampshire, sustaining as many as 537 jobs.
It will also protect a further 500 jobs in the supply chain at British sites operated by GE Aviation, General Dynamics, Finmeccanica's Selex unit and APPH Aviation Services, a unit of aircraft services firm BBA Aviation.
"The UK defence industry makes an important contribution to the economy, generating revenue of over 22 billion pounds each year and its highly skilled workforce plays a crucial part in growing our economy," Defence Secretary Philip Hammond said in a statement.
"This investment will help secure British jobs, providing security to thousands of workers and their families."
MEXICO CITY, Sept 24 A fire broke out on an oil tanker of Mexican state oil company Pemex in the Gulf of Mexico on Saturday, forcing all the crew to be evacuated in the latest accident to plague the struggling firm.
TORONTO, Sept 24 Canada's Unifor union has set a tentative strike deadline of midnight Oct. 10 for talks with Fiat Chrysler Automobiles NV, the labor group said on Saturday as it prepares to vote on a related deal with General Motors Co.