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The Business Times Online Edition - Singapore



Tokyo should create 10t yen SWF: LDP panel (TOKYO) Japan should create a sovereign wealth fund (SWF) with 10 trillion yen (S$127.8 billion) in assets using money drawn from the nation's pension reserves to boost returns, a ruling Liberal Democratic Party (LDP) panel said.


Taiwan, China airlines seen gaining from direct flights (TAIPEI) Direct weekend flights between China and Taiwan starting this week are likely to give a boost to carriers on both sides of the Taiwan Strait at the expense of Hong Kong, but probably not until all restrictions are lifted.


AMR to take US$1.3b charge, cut 6,840 jobs (DALLAS) American Airlines parent AMR Corp will record costs of US$1.27 billion to reduce the value of parked aircraft and pay severance to workers who lose their jobs as it cuts flights in response to record fuel costs.


Ex-Airbus chief under probe for insider trading (PARIS) Former Airbus chief executive Gustav Humbert has been placed under formal investigation as part of a probe into allegations of insider trading at European aerospace group EADS, a Paris judicial source said on Wednesday.


Air NZ raising fares on rising fuel costs (WELLINGTON) Air New Zealand Ltd, the nation's biggest carrier, will raise fares on domestic and international services a fourth time this year because of record jet fuel costs.


Virgin seeks to block BA, American tie-up (LONDON) British Airways Plc's plan to form an alliance with American Airlines and Spain's Iberia would create a 'mega-power' on trans-Atlantic routes and should be blocked, competitor Virgin Atlantic Airways Ltd said.


Continental to stand trial for Concorde crash (CERGY, France) US Continental Airlines and two of its employees are to stand trial for manslaughter over the crash of an Air France Concorde in 2000 that killed 113 people, judicial officials said yesterday.


China faces tough task on capital curbs (BEIJING) Beijing's latest drive to stamp out unauthorised capital inflows is likely to be no match for resourceful speculators determined to bring money into China to catch the wave of a rising yuan, bankers and officials say.


Ping An Insurance denies tax evasion rumour (BEIJING) Ping An Insurance (Group) Co, China's second largest life insurer, yesterday denied market talk of a government investigation into tax evasion. The rumour prompted panic selling of its shares and drove the price down by the daily maximum of 10 per cent on Wednesday.


HKEx to start gold futures trading (HONG KONG) Hong Kong Exchanges and Clearing (HKEx) will start the trading of gold futures on its wholly owned subsidiary, the Hong Kong Futures Exchange, on Oct 20 this year.