BusinessPick

Alitalia to restart with 45 planes, €1bn in aid, and new name

A revamped Alitalia, renamed ITA will start with 45 planes, have around 4,500 workers and get just over €1 billion ($1.2 billion) in state support, less than half of what was previously envisaged, newspaper La Repubblica reported on Tuesday. Newly-appointed Prime Minister Mario Draghi met with the transport, economy, industry… Cyprus Mail …




Turkish banks downgraded by Fitch to negative

  Fitch Ratings downgraded 20 Turkish banks to ratings below investment grade on Wednesday, citing the depletion of the central bank’s reserves as a contributing factor, and recognising the “deterioration of the Turkish economy.” Fitch downgraded the long-term outlook in foreign and domestic currency of two Turkish state-owned banks to… Cyprus Mail …