Bloomberg Deutsche Lufthansa AG refused to give in to pilot demands for a higher wage offer, with their union now set to extend a walkout to Tuesday and Wednesday this week making the current conflict the longest ever protest by cockpit crews at the German airline. Pilots at the mainline Lufthansa brand will strike on short-haul services on Tuesday …

  Abu Dhabi / Emirates Business It has been a month of milestones for Etihad Cargo. The freight division of Etihad Airways recorded its busiest month ever in October, uplifting 53,785 tonnes of cargo and surpassing its previous best, achieved in November 2014, by 501 tonnes. This reflected growth in perishables traffic from Africa, US inbound and outbound traffic, and …

  Bloomberg India is considering buying and leasing small planes to local carriers as part of Prime Minister Narendra Modi’s plan to connect remote towns and villages by air, people familiar with the proposal said. To succeed, Modi’s plans would need small, 20-seat aircraft, which are usually not leased out by traditional aircraft-renting companies, the people said, declining to be …

  Bloomberg International Airfinance Corp. Ltd. is seeking to raise at least $1 billion to buy 18 Airbus Group SE planes that will be leased to Saudi Arabian Airlines, according to three people with knowledge of the plan. IAFC is exploring options including 12-year amortizing loans to pay for 10 A330-300 jets and eight A320 narrow-bodies due for delivery in …

  Dubai / Emirates Business Al-Futtaim Watches & Jewellery announced the opening of their latest The Watch House Outlet store within the Dubai Outlet Mall. The portfolio currently includes 19 Watch House stores, 2 Al-Futtaim Watches & Jewellery stores, 4 Al-Futtaim Jewellery stores, 2 Time Zone stores and an exclusive Seiko Boutique, in addition to 2 Watch House Outlets including …

Bloomberg Banca Monte dei Paschi di Siena SpA starts to swap 4.3 billion euros ($4.6 billion) subordinated bonds for equity on Monday, in the first crucial stage of the Italian bank’s turnaround plans. Bondholders will have five days from November 28 to sign up for the exchange, a step which will allow the bank to proceed with a share sale …

  Bloomberg Ajay Kanwal, the head of Standard Chartered Plc’s Asean and South Asian operations, left the bank after failing to disclose past personal investments. Kanwal said some of his disclosures about investments in businesses outside the bank didn’t meet the company’s “very high standards,” according to a statement from the lender on Monday. “Though I do not own these …

  Bloomberg The Bank of Japan had its first loss since Haruhiko Kuroda became governor after the value of foreign currency assets fell, it wrote down bond holdings and set aside more money to cover potential future losses on its holdings of government debt. The bank posted a net loss of 200.2 billion yen ($1.8 billion) in the six months …

  AFP The board chairman of Portugal’s troubled state-owned Caixa Geral de Depositos bank has resigned after weeks of pressure as he refused to declare his assets, the government announced late Sunday. Portugal’s Socialist government said it “regretted” Antonio Domingues’ decision, adding he would not leave his post until the end of December. A finance ministry statement said the government …

  Bloomberg Oversea-Chinese Banking Corp.’s purchase of Barclays Plc’s wealth-management units in Singapore and Hong Kong was priced at $227.5 million, 29 percent below an initial estimate, after the amount of assets being transferred fell. The final price is based on 1.75 percent of the $13 billion of Barclays assets transferred to Bank of Singapore, OCBC’s private-banking arm, the Singaporean …