More than three years after the Brexit referendum left investors with $23 billion trapped in seven UK real estate funds, holders of another property portfolio have discovered that when their right to daily redemptions meets the reality of hard-to-sell assets, their money can become a hostage to illiquidity. M&G Plc last week said it’s freezing a 2.5 billion-pound ($3.3 billion) ...

With India’s nominal GDP growing at its slowest pace in 17 years, it’s a given that the central bank will cut interest rates again. What’s the point, though? Commercial bank lending rates have turned immune to monetary policy, so much so that a sixth reduction this year in the benchmark price of money will make hardly any difference. The only ...

Bloomberg Hong Kong Airlines Ltd. averted becoming the first carrier to collapse in the city in more than a decade after the local licensing authority said it won’t take further action against the embattled company on certain conditions. To keep its license, the airline must ensure it has a cash injection at a level determined by Air Transport Licensing Authority, ...

Bloomberg Airbus SE needs to almost double jetliner deliveries next month to meet its target for full-year handovers, setting up a race to accelerate production over coming weeks. The European planemaker has handed over 77 planes in November, the same number as in October, according to a statement. That leaves the company 135 aircraft shy of its 12-month target of ...

Bloomberg Boeing Co.’s 737 Max could be cleared to fly by early February in Canada as regulators work with their counterparts in the US and Europe to re-certify the grounded jet, according to head of Canada’s second-biggest airline. Regulators are on track to lift the flying ban worldwide early in 2020, Ed Sims, chief executive officer of WestJet Airlines Ltd., ...

Bloomberg Hudson’s Bay Co. Chairman Richard Baker’s plans to take the Canadian retailer private were dealt a setback as a prominent shareholder advisory firm came out against the deal. Institutional Shareholder Services Inc. urged investors to vote against Baker and his partners’ plans to take the owner of Saks Fifth Avenue private for C$1.9 billion ($1.4 billion). The advisory firm ...

Bloomberg Tesco Plc analysts see the potential for a special dividend after the UK supermarket chain confirmed it’s carrying out a strategic review of its operations in Thailand and Malaysia. The Asian assets could be worth as much as 9.5 billion pounds, which would hypothetically equate to a special dividend of up to 100 pence a share when adjusting for ...

Bloomberg The unexpected drop in China’s exports in November shows one reason why the nation wants to agree on a phase one trade deal as US tariffs are hurting China’s exports at a time when global demand is already weak. Total exports in November dropped 1.1% from a year ago, and to the US they were down 23%, the customs ...

RIYADH / WAM A UAE delegation led by Younis Haji Al Khoori, Under-Secretary of the Ministry of Finance has participated in the G20 Finance Ministers’ and Central Bank Governors’ meeting in Riyadh, Saudi Arabia. This is the second meeting held in Riyadh after the G20 ‘Sherpa’ meeting, part of the 124 G20 meetings to take place during the Kingdom’s presidency ...

Bloomberg Saudi Arabia’s main equity index advanced the most in more than a year after the pricing of Saudi Aramco’s initial public offering and amid hopes of higher oil prices. The Tadawul All Share Index rose 2.4%, the most for a session since October 2018. The kingdom raised $25.6 billion from the world’s biggest IPO after selling shares at 32 ...