Australia's Qantas to close low-cost arm Jetstar Asia
June 11 (Reuters) - Australian flag carrier Qantas (QAN.AX), opens new tab said on Wednesday it will close Jetstar Asia, the group's Singapore-based low-cost unit.
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Reuters
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- Reuters
Boeing shares fall after plane crashes in India
June 12 (Reuters) - Shares of planemaker Boeing (BA.N), opens new tab slid in premarket U.S. trading on Thursday after an Air India aircraft with more than 200 people crashed near the airport in India's western city of Ahmedabad. The aircraft involved was Boeing 787-8 Dreamliner, according to Flightradar data. Reuters could not independently verify the make of the aircraft. It was not immediately clear what caused the crash. Boeing did not immediately respond to a Reuters' request for comment. The plane was headed to Gatwick airport in the UK, Air India said, while police officers said it crashed in a civilian area near the airport. Boeing shares fell 7.8% to $197.3 in premarket trading.
Reuters
23 minutes ago
- Reuters
Ant unit plans to apply for stablecoin issuer license in Hong Kong
June 12 (Reuters) - Ant Group ( opens new tab, an affiliate of China's e-commerce giant Alibaba ( opens new tab, plans to apply for a license to issue stablecoins in Hong Kong through its overseas arm Ant International, the subsidiary said in a statement on Thursday. Last month, Hong Kong's legislature passed a stablecoin bill that establishes a licensing regime for fiat-referenced stablecoin issuers in Hong Kong. Stablecoins, a type of cryptocurrency designed to maintain a constant value, usually pegged to a fiat currency such as the U.S. dollar, are commonly used by crypto traders to move funds between tokens. "We plan to apply for the fiat-referenced stablecoins (FRS) issuer's license once the process is open after the Stablecoins Ordinance takes effect on August 1," Ant International said in a statement. The move was first reported by Bloomberg News, which also said Ant would seek to apply for a stablecoin licenses in Singapore and Luxembourg as well. Ant was founded by billionaire Jack Ma and is 33% controlled by Alibaba. It operates China's ubiquitous mobile payments app Alipay.
The Independent
24 minutes ago
- The Independent
The huge, amphibious plane China will use to modernise its military
China has approved mass production of the AG600 Kunlong, the world's largest amphibious aircraft, paving its way for commercial use. Developed as part of China's military modernisation, the AG600 is designed for marine rescues and battling forest fires, with a range of 4,500km and the ability to land in 2m waves. The AG600 can carry 50 people for maritime search-and-rescue or scoop 12 metric tonnes of water in 20 seconds for firefighting. The state-owned Aviation Industry Corporation of China sees the approval as a milestone towards a more advanced aviation sector and stronger independent building capabilities. Following successful test flights, including a 12-tonne water drop, the AG600 is expected to significantly improve forest fire rescue efficiency, according to emergency management officials.
