April, 2016

• 9 April

  Can Thailand avoid the middle-income trap?

  The term “middle-income trap“ has gained prominence among academics and policymakers in recent years. The term refers to the phenomenon in which economies stop growing before they become rich. The heightened interest in the issue is understandable, given half of the countries in the world are middle-income countries and the majority of them are likely to be stuck there for ...

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• 9 April

  Boeing gets $1.5 billion surprise with new 747 jumbo jet orders

  

  Bloomberg Boeing Co. landed new four orders valued at $1.5 billion for its 747 jumbo jetliners, giving life to a programme starved for sales amid waning demand for four-engine aircraft. The orders were reported on Boeing’s website this week and the identity of the customer wasn’t disclosed. The US planemaker also reported that it delivered fewer jetliners than a year ...

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• 9 April

  Wal-Mart to sell 100% cage-free eggs by 2025 in industry shift

  

  Bloomberg Wal-Mart Stores Inc., the world’s largest retail chain, will sell 100 percent cage-free eggs in the US by 2025, joining an industry-wide shift toward a practice that’s seen as more humane. As part of the transition, Wal-Mart and its Sam’s Club warehouse chain will require that its egg suppliers adopt United Egg Producers rules or an equivalent set of ...

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• 9 April

  Sistema to sell further stake in retailer Detsky Mir

  

  MOSCOW / Reuters Russian holding company Sistema said it is in talks with private investors about selling a further stake in children’s goods retailer Detsky Mir. Sistema, which has said it plans to list the unit, sold a 23.1 percent stake in Detsky Mir to the Russia-China Investment Fund (RCIF) for 9.8 billion roubles ($143 million) in December, valuing the ...

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• 9 April

  Maldives launches $800 million airport expansion

  Male / AFP The Maldives government has kicked off a controversial $800-million expansion of the country’s main airport by a Chinese company, a move likely to irritate giant neighbour India. President Abdulla Yameen inaugurated construction work in a ceremony this week in the capital city Male. The expansion means the Airbus A380 will be able to land at the airport ...

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• 9 April

  Air New Zealand says no Vanuatu flights until runway fixed

  

  WELLINGTON / AFP Air New Zealand said it would not resume flights to Vanuatu until the runway of the Pacific nation’s international airport is properly fixed. The Kiwi flag carrier, along with Virgin Australia, suspended services to Port Vila in January, citing safety concerns over the deteriorating runway at Bauerfield International Airport. Qantas also suspended a code-share agreement with Air ...

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• 9 April

  Weaker banks pay up to regain debt market

  

  Bloomberg The market for the riskiest bank debt is starting to open for Europe’s weaker lenders — provided they are willing to pay up. Banco Bilbao Vizcaya Argentaria (BBVA) SA sold 1 billion euros ($1.1 billion) of so-called additional Tier 1 bonds, with a coupon of 8.875 percent, according to data. That’s about two percentage points more than the Spanish ...

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• 9 April

  ECB’s Mersch warns of returns’ dip in Central Bank Action

  BLOOMBERG Central banks’ extraordinary measures to spur growth may eventually show diminishing returns while a key part of the European Central Bank’s quantitative easing programme carries a “certain risk” that has been mitigated, ECB Executive Board member Yves Mersch said. Mersch, in a speech to the Ambrosetti Workshop in Cernobbio Italy, on Saturday, reviewed the various policy instruments that the ...

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• 9 April

  Wells Fargo doles out $1.2bn to settle crisis-era mortgage claims

  

  New York / AFP Wells Fargo, an American multinational banking company, will pay $1.2 billion to refund US agencies for wrongly certifying bad loans for federal home insurance ahead of the 2008 housing bust, the Department of Justice announced. The settlement resolves charges that Wells Fargo, a giant in the US mortgage lending, employed shoddy underwriting practices to drive up ...

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• 9 April

  Goldman Sachs pays CEO Blankfein $22.6mn for 2015

  

  Reuters Goldman Sachs Group Inc paid Chief Executive Lloyd Blankfein $22.6 million for 2015, according to a regulatory filing, marking his first pay decline in the last four years. Blankfein received $24 million for 2014. On top of his salary and other awards, Blankfein will be eligible to receive a total of $7 million based on his and the bank’s ...

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