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Bloomberg A group of former Credit Suisse Group AG staff, led by Australian investment banker John Wylie, has started an Asia-Pacific credit investment fund to take advantage of banks reining in lending. Tanarra Credit Partners has raised more than A$285 million ($216 million) for its Asia-Pacific Fund I, which will invest in senior and mezzanine debt, and is targeting as ...

Bloomberg It may well be the lowest interest rate ever set on the riskiest bank debt, and investors wanted seven times as much as was offered. Nordea Bank AB’s issuance of so-called additional Tier 1 notes, which act much like equity if a lender gets into trouble, got a good deal of attention this week as it became clear the ...

Bloomberg A new assault by Chinese authorities on the country’s cash micro-lenders threatens to stymie any new listings in New York, as regulators in Beijing escalate their campaign to reduce risks in China’s $40 trillion financial-services sector. According to the International Financial News, China plans to purge the country’s 157 online micro-lenders, leaving only large state-owned companies and the biggest ...

Bloomberg Consumer spending is booming. Interest rates are bottoming out. Eastern Europe’s banking sector is on an upswing. After surviving the toxic mix of near-zero borrowing costs, harsh regulatory curbs and damage from foreign-currency mortgages, lenders are benefiting from economic expansion accelerating to the fastest in years across much of the European Union’s east. Polish banks’ combined net income rose ...

Bloomberg Indonesian authorities evacuated some 100,000 people in the island of Bali and shut its airport after Mount Agung volcano erupted, prompting airlines to cancel about 445 flights linking one of the most popular tourist destinations in Asia. Relocation from around Mount Agung’s crater began as volcanologists warned of a “very high likelihood” for a larger eruption, the National Disaster ...

Bloomberg The holiday shopping season is off to a strong start and retailers hope to continue the momentum today—Cyber Monday—the biggest online spending day of the year. Amazon.com Inc. and Wal-Mart Stores Inc. are vying for holiday spending with competing deals on flat-screen televisions, toys and gadgets. Traditional retailers Macy’s Inc., Sears Holdings Corp. and JC Penney Co. have all ...

Bloomberg Rising incomes and cheaper fares offered by budget carriers are fueling air travel in India, an aviation market set to be the third biggest behind China and the US. In signs traffic is surging, Mumbai on November 24 handled 969 flights in a 24-hour period, a world record for an airport that operates only one runway at any given ...

Bloomberg As monuments to Britain’s past glories go, it’s hard to beat the Royal Air Force Club. Housed in a handsome stone building in London’s tony Mayfair district, the facility for current and former RAF personnel is stuffed with oil paintings of great moments in British aviation, busts of accomplished pilots and historic treasures like the first flight-test report for ...

Dubai / WAM Expo 2020 Dubai has so far awarded AED10.8 billion construction and AED411 million non-construction contracts in 2017. Preparations are firmly on track, with the global destination exceeding its pledge of distributing AED360 million non-construction contracts this year. It will reach its target of AED11 billion construction contracts after awarding urban planning and event overlay packages due to ...

ABU DHABI / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, a number of world leaders, dignitaries and senior officials on Sunday attended the final ...