Bloomberg Lime Asset Management Co, the firm at the centre of a scandal that sparked unprecedented withdrawals from South Korean hedge funds, now faces an investigation into its investment in a troubled US fund. A senior official at the Financial Supervisory Service said South Korea’s top financial watchdog will ask prosecutors to probe Lime’s investment in funds run by International …

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 …

Amman / Emirates Business Emirates customers travelling in First and Business class, and Emirates Skywards Platinum and Gold members can now enjoy a smoother departure and arrival experience at Queen Alia International Airport (QAIA) with complimentary Tikram fast-track services. The Tikram services will facilitate smoother journeys for the almost 300 premium passengers that travel on Emirates First and Business Class …

Dubai / Emirates Business Ted Baker announces the reopening of his prestigious Dubai Mall store. After relocating just around the corner, Ted’s flagship location has undergone a tailor-made makeover. In the heart of Downtown Dubai, known for threading together internationally recognised fashion and fine dining, this is his most grandiose setting of all for the newly improved Ted Baker store. …

Bloomberg EssilorLuxottica, the newly merged Italian-French eyewear conglomerate, said it was the target of a 190 million euro ($213 million) fraud at a factory in Thailand as a power struggle roils its headquarters. The world’s leading lens maker is working to recover the lost funds, and employees associated with the incident, which occurred at an Essilor plant, have been fired, …

Bloomberg The chief financial officer of Domino’s Pizza Group Plc died in a snorkeling accident, leaving a growing management void at the franchise holder for the fast-food brand in the UK and Ireland. David Bauernfeind, 51, died while on vacation with his family in Mauritius, according to a spokesman. The company’s chairman and chief executive officer had previously announced plans …

Bloomberg Emerging markets are headed into 2020 on a high note even if the US-China trade talks remain a nagging risk for investors. With the new decade looming, the average yield on developing-nation local-currency bonds is close to an all-time low of 4.12%, while stocks and currencies are at their highest levels since June 2018, underscoring how expectations Washington and …

Bloomberg Gateway Casinos & Entertainment Ltd, one of Canada’s largest gaming companies, has agreed to a deal that will create a new firm valued at about $1.1 billion. Gateway said that Leisure Acquisition Corp, a special purpose company created to make acquisitions, will merge into a new unit of GTWY Holdings, Gateway’s parent. GTWY shares are expected to be listed …