Oil output to stay put

KUWAIT CITY: OPEC’s president Sheikh Ahmed Fahd al-Sabah said on Wednesday that the oil producing cartel will most likely maintain current output levels at its next meeting set for June 15 in Vienna. “I started consulting with some of my colleagues. I think the situation is that we will continue to maintain our production (levels) now,” Sheikh Ahmed, who is also Kuwait’s energy minister, told reporters in parliament. — AFP

S’pore, Indonesia deal

SINGAPORE: Indonesia has agreed that Singapore carriers can increase flights to Jakarta and Denpasar in Bali in exchange for concessions to Indonesian airlines, the island-state’s transport ministry said on Wednesday. “Officials from Singapore and Indonesia have recently

reached in-principle agreement for a modest expansion of air traffic rights between Singapore and Jakarta, and Singapore and Denpasar,” Singapore’s transport ministry said in a statement. — AFP

Oil price hike in India

NEW DELHI: Petroleum minister Mani Shankar Aiyar on Wednesday said no meeting is scheduled for the next few days on the expected revision in prices of petrol and diesel unless the prime minister decides to hold one. “There is no meeting scheduled for next several days. But if the prime minister summons me I will have to go,” Aiyar told the media on the sidelines of a two-day meet organised by the Federation of Indian Chambers of Commerce and Industry (FICCI). —HNS

UA ink contract deal

CHICAGO: United Airlines and its machinists’ union finally announced an agreement in principle on a contract in federal bankruptcy court on Tuesday, narrowly heading off the need for a judge’s ruling that could have triggered a crippling strike, following prolonged debate. A formal contract agreement is to be presented June 17. Judge Eugene Wedoff gave the two sides until then to work out remaining details. — AP