| Several airlines in the Asia-Pacific region | | | | established a foothold in China's commercial |
| are reviewing their options after the latest | | | | banking sector by buying tiny lender Nan Tung |
| delay in the delivery of the Airbus 380 and a | | | | Bank in the southern city of Zhuhai. |
| U.S. investment bank has found a way into | | | | |
| China's commercial banking business. | | | | Morgan Stanley bought the bank, which has |
| | | | just one branch, for an undisclosed sum from |
| Singapore Airlines, Malaysia Airlines and | | | | Bank of China, the country's second largest |
| Australia's Qantas Airways say they are | | | | lender. The purchase allows the U.S. bank to |
| disappointed about the latest delay in the | | | | provide products denominated in the local |
| delivery of the Airbus 380. | | | | currency, the yuan, to corporate customers |
| | | | through Nan Tung Bank. |
| The France-based European Aeronautic Defense | | | | |
| and Space Corporation has postponed the | | | | Normally, foreign banks have to operate for |
| delivery of the new super-jumbos for the | | | | at least five years in China and obtain a |
| third time since June 2005 due to production | | | | commercial banking license before being able |
| problems. | | | | to conduct local currency-denominated |
| | | | corporate banking. |
| Singapore Airlines will receive its first of | | | | |
| 10 firmly ordered A-380s at the end of 2007, | | | | India's Tata Group will launch a national |
| a year later than scheduled. Airbus | | | | chain of mega-stores for consumer electrical |
| deliveries to Malaysia Airlines and Qantas | | | | appliances in alliance with Australian |
| will be delayed by two years to 2008. | | | | retailer Woolworths. |
| | | | |
| Qantas' chief financial officer Peter Gregg | | | | Woolworths will provide technical support and |
| says the airline may revise its Airbus order | | | | sourcing facilities for the new stores, which |
| and look at buying planes from U.S. rival | | | | will be named "Croma". Tata plans to launch |
| Boeing instead. | | | | 30 "Croma" mega-stores across India within |
| | | | the next 18 months, the first in Mumbai. |
| "We always look at the alternatives to every | | | | |
| aircraft type, and it's no secret that we | | | | London's famous black taxis will soon be |
| have looked at 747 800. We have ordered the A | | | | driving on the streets of China. British |
| 380, it would be a very significant event for | | | | specialist carmaker Manganese Bronze has |
| us to cancel those orders. But we have to | | | | signed a $100 million-joint-venture deal with |
| review all our options at this point of | | | | Chinese automaker Zhejiang Geely Holdings to |
| time," he said. | | | | produce the taxicabs in Shanghai. The new |
| | | | plant will be able to make up to 20,000 taxis |
| U.S. investment bank Morgan Stanley has | | | | a year. |