June, 2016

• 8 June

  Thai Airways seeks 10-airline pact to add routes

  

    Bangkok / Bloomberg Thai Airways International Pcl is seeking an alliance with as many as 10 other Asian carriers in order to add destinations and counter a similar move grouping together several of its low-cost rivals. A series of bilateral accords could unite airlines from across the region to boost connectivity in India and China and smaller markets such ...

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• 8 June

  Amazon to increase India investments to $5bn

  

  New Delhi / Bloomberg Amazon chief executive Jeff Bezos pledged to invest $3 billion in India, in a big bet on the growth of online shopping in the fast-growing South Asian economy. Speaking in Washington DC as India’s Prime Minister Narendra Modi visits the United States, Bezos told a gathering of business leaders that he saw “huge potential” in India. ...

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• 8 June

  Apple, Manulife raise $2.4bn in Taiwan

    Taipei / Bloomberg Apple Inc. sold $1.38 billion of dollar bonds in Taiwan while Canada’s Manulife Financial Corp. also priced $1 billion of securities, as such debt offerings in the jurisdiction jump amid demand from insurers. The sales bring issuance of such corporate securities to $23 billion for the year, up 53 percent from the same period in 2015, ...

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• 8 June

  Garuda stalls multibillion-dollar deal in ‘buyers market’

  

    WASHINGTON / AFP PT Garuda Indonesia is in no hurry to finalize a multibillion-dollar order of as many as 250 aircraft, saying the sluggish global economy will give it more leeway in negotiations with Airbus Group SE and Boeing Co. Decisions by other airlines to push back purchases amid tough operating conditions give Garuda more breathing space, President Director ...

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• 8 June

  South Korea to raise $9.5bn funds to restructure shipyards

  

    Seoul / Bloomberg South Korea will bolster capital at policy banks through a fund to support restructuring of the nation’s shipping and shipbuilding industries, the government said on Wednesday. The plan is for the government and the Bank of Korea to create an 11 trillion won fund ($9.5 billion) to make sure state lenders can withstand losses as they ...

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• 8 June

  Prosecutors raid Daewoo Shipbuilding in fraud probe

    Seoul / AFP Prosecutors on Wednesday raided Daewoo Shipbuilding and Marine Engineering Co., one of South Korea’s three giant shipbuilders, as part of a probe into a $2 billion accounting fraud. Some 150 staff from the Supreme Prosecutors’ Office stormed DSME headquarters in Seoul and its Okpo shipyard on the southern island of Geoje, the company said. “This morning, ...

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• 8 June

  Suzuki plans resignations, pay cuts

  

    Tokyo / Bloomberg Suzuki Motor Corp. Chairman Osamu Suzuki ceded the role of chief executive officer and one of his top deputies will resign after the automaker admitted to using unapproved fuel-economy testing methods in Japan. The 86-year-old Suzuki will decline the position of CEO and Executive Vice President Osamu Honda, 66, will step down as of the company’s ...

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• 8 June

  Monsoon brings rain relief to drought-hit farms

  

    New Delhi / Bloomberg India’s monsoon has finally arrived. The annual rains reached the southern state of Kerala on Wednesday, Sunitha Devi, an official with the India Meteorological Department, said by phone from Pune. The normal onset date for the monsoon is June 1 and the agency had said Tuesday that it would probably cover Kerala by June 9. ...

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• 8 June

  Japan revises up Q1 growth

    Tokyo / AFP Japan’s economy expanded at a slightly faster pace than first thought, revised figures showed on Wednesday, knocking hopes that the central bank will unleash fresh stimulus this month. The data were unlikely to inspire renewed faith in Prime Minister’s Shinzo Abe’s faltering growth policies, after Tokyo last week said it would delay a tax hike to ...

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• 8 June

  ECB’s Draghi fires starting gun on corporate bond purchases in Europe

  

    Bloomberg The European Central Bank started buying corporate bonds on Wednesday, according to people familiar with the matter. Purchases included €3 million ($3.4 million) of bonds sold by French utility Engie SA, along with 10-year notes from Telefonica SA, Spain’s biggest telecommunications company, and securities sold by Assicurazioni Generali SpA, Italy’s biggest insurer, said the people, who aren’t authorized ...

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