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TAOYUAN: Taiwan's EVA Airways on Tuesday joined Star Alliance, the world's biggest airline grouping, in a move that could give it an edge over regional rivals like China Airlines."EVA Air has successfully completed all joining requirements and I can confirm that our chief executive board has now unanimously accepted EVA Air into our alliance," Star Alliance CEO Mark Schwab announced at a ceremony in the north of the island.The move could see an increase in the carrier's occupancy rate by up to three percentage points, according to chairman Chang Kuo-wei, as passengers benefit from greater integration with leading airlines.It took EVA Air a year and half to meet the alliance requirements, foremost the adjustment of its computer systems that will enable passengers to use air miles earned through other alliance members.In March last year, an EVA executive said joining the grouping would give the carrier an advantage over China Airlines ...
LONDON: Britain's Serious Fraud Office said on Tuesday that former UBS trader Tom Hayes had become the first person to be charged in its probe into the Libor rate-rigging scandal that has rocked the banking sector."Tom Hayes, a former trader at UBS...has today been charged with offences of conspiracy to defraud in connection with the investigation by the Serious Fraud Office into the manipulation of Libor," the SFO said in a statement.Copyright AFP (Agence France-Presse), ...
SHANGHAI: Chinese telecoms giant Huawei will launch a new smartphone on Tuesday to better compete with high-end rivals like Apple and Samsung overseas, a company official said.Huawei will unveil the Ascend P6 in London in one of its major smartphone launches of the year, Huawei spokesman Roland Sladek told AFP.The move is "significant" because it marks a global launch held outside Huawei's home base of China and will be a stand-alone event, unlike previous launches ...
DHAKA: Bangladesh's pioneering microlender faces an uncertain future after a commission proposed the government take over or break up the Nobel-award-winning bank, analysts said on Tuesday. The government commission has released a working paper on restructuring Grameen Bank, founded by Nobel Laureate Muhammad Yunus and which has lent more than $11 billion to millions of people -- mainly women -- to help them gain financial independence.The paper, to be sent to Bangladesh's financial experts for ...
PARIS: The EU car industry was again badly hit by weak demand in May when sales plunged even in the so-far resilient German market, monthly data from the European Automobile Manufacturers' Association showed on Tuesday.The British auto market was the only one in 26 of the 27 countries of the European Union to show an increase on a 12-month comparison.The association said that sales in the European Union in May fell by 5.9 percent to ...
PRAGUE: The Czech banking sector's capital adequacy would fall to 10 percent, from around 15 percent now, under the most unfavourable scenario in a central bank analysis, the bank said on Tuesday.Several banks would have to raise a total of 31.5 billion crowns ($1.64 billion), or 0.8 percent of gross domestic product in the adverse scenario to bring their capital adequacy to above the central bank's 8 percent regulatory threshold.That scenario included a 50 percent ...
TOKYO: The hedge fund that has called on Sony to list part of its profitable entertainment arm has boosted its stake in the company, a report said on Tuesday, days ahead of a shareholders' meeting.Billionaire investor Daniel Loeb, who last month proposed hiving off up to 20 percent of the division, which includes music and movies, said his Third Point LLC fund had since added another five million shares, taking its stake to seven percent.In ...More Articles...
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