Bloomberg AirAsia Bhd. is raising 1 billion ringgit ($257 million) selling stock to a company controlled by its founders as the continent’s biggest budget airline raises cash to finance aircraft purchase and pare down debt. The airline will issue 559 million new shares at 1.84 ringgit apiece to Tune Live Sdn, equally owned by Chief Executive Officer Tony Fernandes and …

Colombo / AFP Sri Lanka is seeking foreign assistance to rescue its loss-making national carrier, a minister said, after the government announced the airline was unable to pay back nearly $1 billion in debt. The airline owes at least $933 million but the government last week said the true figure could be much higher. Official sources said Colombo was in …

Bloomberg Home Retail Group Plc said its board will unanimously recommend J Sainsbury Plc’s 1.4 billion-pound ($2 billion) bid after South African retailer Steinhoff International Holdings NV withdrew from the battle to acquire the Argos owner. The announcement effectively ends a protracted takeover saga that began on January 5 when Sainsbury first disclosed its interest. After weeks of wrangling over …