The World Trade Organization has ruled that Boeing benefited from illegal subsidies from the U.S. government.
The WTO ruling comes after a long-running battle between Boeing and its rival, Airbus, over research help and financing that the two plane makers have received.
The European Union alleges that Boeing recieved almost $24 billion in illegal subsidies, including research grants and free use of technology from NASA and the Department of Defence.
Airbus, however, issued a statement that said the report shows Boeing received “at least $5 billion” in illegal subsidies. Airbus said the ruling, when made public, will show that without those illegal subsidies, “Boeing would not have been able to launch the 787.”
If confirmed, the allegation about the funding of the 787 Dreamliner is certainly serious.
Boeing claimed that the WTO had come out in its favor. “The WTO rejected almost all of Europe’s claims against the United States,” it said in a statement. “Nothing in today’s reports even begins to compare to the $20 billion in illegal subsidies that the WTO found last June that Airbus/EADS has received.”
Airbus said it expects the dispute to carry on for “several more years,” and that a negotiated settlement is the only way to resolve it.
This is popularly known as 'The Virgin who answers prayers quickly'. This chapel was built in the 1100s and stored inside is a painting of the Virgin Mary dating to the 12-1300s. The outer walls are etched with animal figures and other mythical characters from the Classical to the Byzantine period. It is an interesting religious site for tourists to visit. Timings: Daily 8 A.M- 1 P.M A...
The Goodman Gallery is a very successful art gallery that has been around for more than 30 years and plays host to contemporary South African works from artists such as Norman Catherine and William Kentridge. Address: 163 Jan Smuts Avenue, Parkwood Telephone: +27 (0)11 788 1113 Website: http://www.goodman-gallery.com/ Opening hours: Tue-Fri 0930-1730, Sat 0930-1600 ...
Exhibits at this museum date all the way back to the Bronze Age. The simplest to the most sophisticated weapons are on display, giving visitors an interesting insight into the evolution of armory from past to present, particularly in the context of Syria. Fascinating pieces include the remnants of a plane from the war with Israel in 1973. Timings: Wednesday- Monday 8 A.M- 2 P.M Admi...
The Hong Kong Cultural Center is located on Salisbury Road in the South western tip of Tsimshatsui of Kowloon district. This is the center to visit for a variety of cultural experiences. The Hong Kong Philhamornic Orchestra is based out of the concert hall which can accommodate 2,019 people. This two tiered structure is done in oak and has incredible acoustics. It has an 8000 pipe organ which is A...