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BW Businessworld

News In Pictures: 02 June 2009

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British entrepreneur Richard Branson, founder and president of Virgin Atlantic Airways, said on Tuesday he believes it is unlikely that all big US airlines will survive for the next 12 to 18 months. Branson also said that Virgin Atlantic is interested in launching flights between Australia and Tokyo's Haneda Airport, which is currently undergoing a major expansion, in the next 12 to 18 months. (Reuters)
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Oil Secretary R.S. Pandey said on Tuesday the government had no plans to sell stakes in state-run firms Oil & Natural Gas Corp and Indian Oil Corp. "There is no plan to divest stake in IOC and ONGC," Pandey said. (Reuters)
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China agrees with the United States that the dollar will remain the world's main reserve currency for a long time to come, US Treasury Secretary Timothy Geithner said on Tuesday. Chinese central bank governor Zhou Xiaochuan has floated the long-term possibility of replacing the dollar as the world's main reserve currency with the Special Drawing Right, the International Monetary Fund's unit of account. (Reuters)