Bloomberg Cathay Pacific Airways Ltd. made a mistake selling first- and business-class tickets at a steep discount. Now, the lucky few who made the bookings will travel in style after all. The Hong Kong-based airline said on its Twitter and Facebook pages on Wednesday that it would still welcome passengers that bought the business-class tickets from Vietnam to Canada and …

Bloomberg The Canadian oil industry could be in for another turbulent year in 2019, depending on how some pivotal events pan out. Government-mandated production cuts and the potential startup of a key crude pipeline are among key developments to watch for this year. While the announcement of production curtailments by Premier Rachel Notley has succeeded in lifting Canadian crude prices …

Bloomberg India issued a tender to build 7.5-gigawatt of solar power projects in Jammu and Kashmir, state-run Solar Energy Corp of India said on its website. The request is part of a larger plan to build 23 gigawatts of solar capacity in Ladakh, a region in the country’s extreme north bordering China. The capacity is offered in as many as …

Bloomberg The downturn in Sydney’s property market is set to deepen this year as tighter lending standards and the worst slump in values since the late 1980s cause nervous buyers to sit on the sidelines. Average Sydney home values have fallen 11.1 percent since their 2017 peak, according to CoreLogic Inc. data — surpassing the 9.6 percent top-to-bottom decline when …

Bloomberg India’s central bank will permit lenders to restructure stressed loans to small companies, breaking from a five-year-old policy of eschewing sweeping corporate debt overhauls. The Reserve Bank of India will allow one-time restructuring of loans to micro, small and medium-sized companies that are in default, the regulator said in a statement. To be eligible for the program, the loan …

Bloomberg A market indicator watched by the Fed as one of the most accurate gauges of economic health is pricing in lower rates for the first time in more than a decade. The little-known near-term forward spread, which reflects the difference between the forward rate implied by Treasury bills six quarters from now and the current three-month yield, fell to …

Bloomberg Call it a New Year’s resolution for Royal Bank of Canada’s top investment banker: Doug McGregor wants to spend more time with private equity in 2019. As head of RBC Capital Markets, McGregor spent a decade expanding a Canadian bank-owned firm once focussed on its home turf into a global operation with more bankers, resources and revenue in the …

Bloomberg The Board of Access Bank Plc announced the signing of a memorandum of agreement (MoA) with Diamond Bank Plc regarding a potential merger of the two banks that will create Nigeria and Africa’s largest retail bank by customers. This follows its selection as preferred bidder after a competitive process undertaken by the Board of Diamond Bank. The proposed merger …

Bloomberg Absa Group Ltd is having a hard time convincing some investors it can win back the market share lost while under the control of Barclays Plc. South Africa’s third-largest lender was once the leading retail bank with over 10 million customers and more mortgages on its books than any of its Johannesburg-based peers. Now, released from the shackles of …

ABU DHABI / WAM The investment of UAE’s banks in Saudi Arabia and Egypt reached AED87.2 billion ($23.7 billion)at the end of Q3 2018, representing 12.5 percent of the total assets invested abroad, which amounted to about AED693 billion in September of the same year. Figures from the UAE Central Bank show that the value of investments by UAE banks, …