Qantas’ chair and CEO said the airline’s investment plan meant it was well-placed to compete
Asia Pacific
Indonesia
UAE and Saudi residents now get Indonesia visa on arrival with VFS Global support
VFS Global appointed as private sector partner for Indonesia visa on arrival for UAE and Saudi residents
China
China’s central bank cuts key interest rates to record lows, aims to boost sluggish economy
The one-year Loan Prime Rate was cut from 3.35% to 3.1%, while the five-year LPR was cut from 3.85% to 3.6%
Air India
Series of bomb threats impacts India flight operations; Air India plane makes emergency landing in Canada, Singapore
Bomb threats also impacted an IndiGo flight from Dammam to Lucknow
Philippines
Philippines President expresses appreciation to UAE President for support in phone call
The two leaders shared a phone call on Monday
Carlos Ghosn
EXCLUSIVE: Carlos Ghosn says Nissan is ‘shadow of former self’
The former auto industry magnate’s comments come as he continues to fight legal battles stemming from his tenure at the helm of the Renault-Nissan-Mitsubishi alliance
China
China investors expect $283bn of new stimulus to boost economic confidence: Report
Beyond the amount of any fiscal package, the target of support will indicate where the government looks to steer its economy after years of debt-fuelled expansion through investment
automobile industry
OMODA & JAECOO announces second International User Summit in China
It will be the company’s final headquarters activity for the year before the launch of its Middle Eastern hub in the UAE
China
Chinese markets reopen with a 10% jump after break; hits 2-year high
The markets, however, gave up a chunk of the gains following announcements on new revival plans
Airline
Emirates enjoys solid Reputation Scores across several markets
Measured on six main pillars, the Dubai airline tops in global, regional and UK trends; Singapore Airlines edges it to second in Asia
acquisition
Qatar Airways to acquire 25% stake in Virgin Australia, enhancing airline partnerships
The stake will be acquired from Virgin Australia’s owner Bain Capital, the companies said in a joint statement
China
China to inject $142bn of capital into state banks: Report
The move follows Beijing this week announcing some of the strongest measures in years to boost the country’s economic activity
financial centre
Hong Kong beats Singapore to be Asia’s top financial centre: Survey
Globally, Hong Kong ranked third behind New York and London, with Singapore and San Francisco rounding off the top five
China
China suspends PwC’s mainland unit, imposes hefty fines over Evergrande audit
This regulatory action follows accusations made by Chinese authorities in March, claiming that Evergrande had committed a $78bn fraud over a two-year period through 2020
Bilateral trade
Dubai Ruler Sheikh Mohammed, China’s Li Qiang discuss bilateral ties in Za’abeel Palace
Discussions covered political, economic, commercial, and cultural issues
foreign visitors
North Korea to reopen for international tourism in December
North Korea opens to global tourists, barring South Koreans, while US maintains travel ban for its citizens
Asian stock markets
Tokyo’s Nikkei index dives 3% on Monday morning hours on global cues
Japanese market performance followed a global slump caused by a weaker than expected US jobs growth and speculation over a Fed rate cut