Bloomberg Philippine Airlines Inc expects to emerge from Chapter 11 bankruptcy before the end of the year, with a leaner fleet and fewer destinations as a recovery in travel demand isn’t likely in the next few years, President Gilbert Santa Maria said. Majority owned by billionaire Lucio Tan, the carrier filed for Chapter 11 bankruptcy in New York on Septmber ...

Bloomberg Airbus SE jetliner deliveries declined last month, according to people familiar with the matter, as an annual summer manufacturing lull impacted build rates. Toulouse, France-based Airbus handed over about 40 aircraft in August, down from 47 in July, according to the people, who asked not to be named before official figures are made public. The tally would take the ...

Bloomberg North Korea could hold a military parade this week as it celebrates a national anniversary, Yonhap News Agency reported, an event that would mark the first major public display of its weaponry since US President Joe Biden took office. Given the status of preparation, leader Kim Jong Un’s regime may stage the event at night and have it coincide ...

Bloomberg South Korea has successfully test-launched a missile from a submarine, stepping up its strike capabilities and joining a small list of seven other countries to demonstrate the technology. South Korea last week fired the missile from its 3,000-ton Dosan Ahn Chang-ho submarine, a defense ministry official who asked not to be named said on Tuesday. The official spoke after ...

Bloomberg A shadow government comprising of ousted lawmakers loyal to Myanmar’s detained civilian leader Aung San Suu Kyi declared war against the military regime that seized control of the country seven months ago. In a speech posted on social media on Tuesday, the acting president of National Unity Government, Duwa Lashi La called on citizens to revolt against the junta ...

Bloomberg Chancellor Angela Merkel plunged into Germany’s election campaign, warning that the Social Democrats (SPD) would take the country off course in an unusually direct intervention in the contest as her conservatives slumped to a new low in the polls. In a Forsa survey for RTL/ntv, support for the Christian Democrat-led bloc dropped two percentage points to 19%, its lowest ...

Bloomberg The Reserve Bank of Australia (RBA) pushed ahead with a cautious winding back of its bond-buying program, underlining its confidence in the economy’s recovery prospects once a longer-than-expected virus wave abates. Governor Philip Lowe and his board said they will purchase government securities at a pace of A$4 billion ($3 billion) a week, down from A$5 billion previously, until ...

Bloomberg The private-banking units of Citigroup Inc and Credit Suisse Group AG have stopped accepting the bonds of Fantasia Holdings Group Co as collateral amid rising concerns about the Chinese developer’s financial health, according to people familiar with the matter. The banks have assigned a zero lending value to the notes, meaning their private-wealth clients can no longer use them ...

Bloomberg The head of Poland’s central bank pushed back against rising expectations for interest-rate increases, saying lifting borrowing costs now would be “very risky” despite inflation hitting a two-decade high. In an interview with the PAP news service just three days before the next monetary-policy meeting, Governor Adam Glapinski said the bank isn’t ignoring elevated price growth and won’t allow ...

Bloomberg China’s various industry crackdowns from technology to education mean monetary and fiscal policies will likely remain loose on the margin to offset the drag on economic growth, economists at Goldman Sachs Group Inc said. The economy is in a “micro takes and macro gives” environment, where regulatory tightening in specific sectors will likely be accompanied by supportive policy from ...