Israel's Modiin Energy plans to buy North Sea drilling rights
TEL AVIV Modiin Energy said on Sunday it signed a letter of intent to buy 25 percent of the oil drilling rights in a site in shallow North Sea waters in British territory.
FRANKFURT Germany's air traffic controllers are planning to strike for one hour on January 29, in a show of support for an expected Europe-wide strike that could lead to considerable flight disruption, their union boss said on Saturday.
The Air Traffic Controllers European Unions Coordination(ATCEUC), which represents 14,000 flight overseers across 28 European countries, this week revived plans to strike over planned safety and savings targets by the European Commission, which it says could endanger the safe provision of services.
"We plan an hour-long strike in support of the action," Matthias Maas, the head of Germany's GDF union told Reuters on Saturday. He said the German controllers could not do more without running the risk of legal action being taken against them.
Maas said the GDF would meet next week to discuss the time of the strike and when it will be announced.
The ATCEUC had initially planned a Europe-wide strike in October, but postponed it after the Commission signalled it would be willing to renegotiate plans.
This week, however, the ATCEUC called on its members to take action on January 29 after saying the new proposal from the Commission was even more unrealistic.
(Reporting by Victoria Bryan; Editing by Raissa Kasolowsky)
VIENNA OPEC and non-OPEC countries have made a strong start to lowering their oil output under the first such pact in more than a decade, energy ministers said on Sunday as producers look to reduce oversupply and support prices.
TAIPEI Foxconn, the world's largest contract electronics maker, is considering setting up a display-making plant in the United States in an investment that would exceed $7 billion (£5.6 billion), company chairman and chief executive Terry Gou said on Sunday.