The week in review

In the news... RBS axes 9,000 more jobs The Royal Bank of Scotland this week announced it was to shed a further 9,000 jobs, half of them in the UK, with a majority of the losses from its back office operations. Redundancies include positions in document processing, information technology, procurement and bank property, a division known as group manufacturing. The company would not say where the job losses would have most impact within the UK. Unions described the news as "truly devastating". The cuts come on top of the 2,700 job losses already announced by RBS in Britain this year. Group manufacturing is the biggest single part of the troubled financial giant, employing a total of 45,000 people worldwide at a cost of £1.2 billion (Dh6.5bn) last year. Of those staff, 27,000 work in Britain, so within the division, the job cuts represent one job in five. Good week Budget travellers Dubai this week announced the first destinations and the pricing structure of its new budget airline, flydubai. The low-cost carrier will launch services to Amman, Jordan, and Beirut, Lebanon in June, with fares starting from Dh250 one-way. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of flydubai, said the company expected a high load factor by the end of the year. Bad week Ireland The Irish Republic this week unveiled its second budget in six months to deal with its rapidly contracting economy. The emergency budget included a large rise in taxes and a cut in spending to deal with budget deficit. Finance Minister Brian Lenihan said an independent agency would take over banks' bad assets to try to restore lending. Keep up with the latest business news from the region with the Emirates Business 24|7 daily newsletter. To subscribe to the newsletter, please click here .