Category: Asia

Air India has introduced an innovative new cost-cutting measure: Meatless meals. The struggling airline announced Monday that it has cut meat out of economy-class meals on domestic flights “to reduce wastage, reduce cost and improve catering service.” Air India has been struggled to compete in the country’s hugely competitive and fast-growing aviation market, needing a…

The 32-year-old chief executive of defunct Mt. Gox pleaded not guilty on Tuesday to charges relating to the loss of hundreds of millions of dollars worth of bitcoins and cash from what was once the world’s biggest bitcoin exchange. French national Mark Karpeles filed the plea in response to charges of embezzlement and data manipulation…

Online retail giant Amazon.com Inc has secured approval to stock and sell food and groceries in India, potentially expanding its business in the fast-growing economy where it is in a pitched battle with home-grown rival Flipkart. Amazon confirmed winning government approval for its plan to sell food products, but it declined to provide further details.…

Asian shares extended gains on Tuesday and the dollar notched a four-month high against the yen, as investors awaited testimony from Federal Reserve Chair Janet Yellen for clues on when the central bank would tighten U.S. monetary policy. In Europe, futures for the Eurostoxx 50 and the DAX were both up 0.3 percent, while the…

As the $18 billion sale of Toshiba Corp’s memory chip unit to a government-approved consortium falters, some bankers and potential investors are pressing the board to seriously consider alternatives, people with direct knowledge of the sale process said – including picking a new buyer. Those people say Toshiba’s leadership is sticking to Plan A: selling…

The International Monetary Fund (IMF) raised its growth estimate for China for the second time this year while also cautioning that deep reforms are still needed to break away from debt-fueled expansion. The world’s second-largest economy will expand by 6.7% in 2017, the Washington-based fund said in its annual report on Article IV consultations published…

China’s retail sales and industrial output remained resilient in May, while signs emerged that measures to cool the property market are having some effect. Key points Industrial output rose 6.5% from a year earlier Retail sales increased 10.7% matching economists’ projections Fixed-asset investment expanded 8.6% in first five months, trailing estimates as property development investment…

China’s first large jetliner has successfully completed its maiden flight, a key moment in the country’s push to challenge the U.S. and Europe as a global manufacturer. The C919, China’s first domestically designed and built large airliner, took off Friday afternoon from Shanghai Pudong International Airport into hazy skies with a five-person crew aboard. The…

Asian stocks declined for a third consecutive day on Friday as fresh falls in commodities raised concerns about the health of the global economy, though the euro bucked the broad weakness on receding concerns about France’s presidential election. Chinese stocks led regional losers, falling to a three-month low as concerns about tighter financial regulations weighed…

UBS Group AG (UBSG.S) plans to hire about 100 wealth management client advisors over the next two years in Hong Kong, the biggest wealth hub in Asia-Pacific, to grab a bigger share of the fast-growing mid-tier millionaire segment. The Swiss bank’s sharpening focus on the middle of the wealth market comes as some global banks…