WASHINGTON / AFP PT Garuda Indonesia is in no hurry to finalize a multibillion-dollar order of as many as 250 aircraft, saying the sluggish global economy will give it more leeway in negotiations with Airbus Group SE and Boeing Co. Decisions by other airlines to push back purchases amid tough operating conditions give Garuda more breathing space, President Director ...

  Seoul / Bloomberg South Korea will bolster capital at policy banks through a fund to support restructuring of the nation’s shipping and shipbuilding industries, the government said on Wednesday. The plan is for the government and the Bank of Korea to create an 11 trillion won fund ($9.5 billion) to make sure state lenders can withstand losses as they ...

  Seoul / AFP Prosecutors on Wednesday raided Daewoo Shipbuilding and Marine Engineering Co., one of South Korea’s three giant shipbuilders, as part of a probe into a $2 billion accounting fraud. Some 150 staff from the Supreme Prosecutors’ Office stormed DSME headquarters in Seoul and its Okpo shipyard on the southern island of Geoje, the company said. “This morning, ...