Bloomberg China’s local government financing vehicles are seen as the top investment among the nation’s corporate bonds next year as state backing limits the risk of default, a survey showed. Local governments’ financing vehicles, which now have 8.4 trillion yuan ($1.2 trillion) outstanding, have long had a shadow over them because many lack sustainable revenues to make debt payments, and …

Dubai / Emirates Business Cebu Pacific, the Philippines’ largest national flag-carrier, signed a Purchase Agreement with Airbus SAS for the order of 15 A320Neo (New Engine Option) family aircraft. The transaction is valued at $2 billion. The 15-aircraft order includes up to 10 A321XLR (Xtra Long Range) jets, the world’s longest-range single-aisle aircraft. The increased capacity of the A320neo will …

Bloomberg Cabin crew at Deutsche Lufthansa AG’s Germanwings unit began a three-day strike on Monday that will affect around 180 mostly domestic Eurowings flights out of about 1,200 scheduled during the New Year period. The latest industrial action affecting Lufthansa underscores fragile relations between Europe’s biggest airline group and labour representatives as the company fights a continent-wide capacity war with …