January 21, 2021 - Biz In 60

Business in 60 Seconds

Norwegian Air gets state backing for restructuring plan Norwegian Air has won state backing for its restructuring plan to exit bankruptcy protection. The government says it will help to fund a hybrid loan, provided the airline raises at least 530-million- dollars from investors, and the proposal receives court approval. The struggling carrier has grounded most of its aircraft during the coronavirus crisis. Turkey's central bank keeps policy rate unchanged Turkey's central bank has left its benchmark interest rate unchanged at 17-percent following two consecutive rate hikes. Under the newly appointed governor Naci Agbal, the bank has hiked its one-week repo rate by 675 basis points since last November, in an attempt to reduce inflation. The bank says it will keep monetary policy tight for an "extended" period. Beckhams pay themselves $20M in dividends since 2019 David and Victoria Beckham have paid themselves almost 20-million dollars in dividends, following strong sales of the former footballer's image rights. That's despite pre-tax profits at David Beckham Ventures Limited, which is wholly owned by the couple, falling to around 15-million- dollars in 2019. Victoria Beckham's eponymous fashion label reported an increase in sales, but it continued to lose money.