ePaper_2nd Edition_October 12, 2016

Business 13
DT
WEDNESDAY, OCTOBER 12, 2016
Foreigners cut down on emerging Asia bonds
• Reuters
Foreign investors have cut holdings
in most emerging Asian government
bonds so far this month
on expectations that US interest
rates will rise in December and that
other major central banks will not
ease further. South Korea, India
and Thailand have suffered outflows
so far in October.
“The global environment for
bonds has become less favourable
with major central banks contemplating
reducing stimuli,” said Eugene
Leow, interest rate strategist
for DBS Bank in Singapore.
The US Federal Reserve is expected
to raise interest rates in December,
as three months of slower
employment growth is not considered
enough to stop it from moving.
Also weighing on emerging
Asian debt are perceptions that
other major central banks are unlikely
to ease further as well as
higher oil prices, which have reduced
concerns about inflation being
too low.
Outflows
Foreign investors sold a combined
net 1.7tn won ($1.5bn) worth of
South Korean bonds in the first 10
Runner to bring
Bajaj 3-wheelers
in Bangladesh
market
• Tribune Business Desk
Runner, a local motorcycle manufacturer,
has tied up with Bajaj
Auto Limited, India-based
three-wheeler manufacturer, to
introduce Qute and LPG and Diesel
range three wheelers.
On this tie-up, Manish Singh
Rathore, general manager (International
Business) said: “Bajaj would be
introducing LPG three-wheeler along
with four-wheeled Qute to Bangladesh
market through Runner in December,”
said press release yesterday.
Both Qute and three-wheeler
would provide added mobility options
to Bangladesh Customers.
Qute – a safe, smart, fuel-efficient,
environmentally friendly and compact
mobility solution on 4 wheels
– is already operating in 20 countries.
“With its unique design, it
would cater to consumer travel
needs on highways as well as in
dense traffic conditions, especially
in metro cities like Dhaka, Khulna
and Chittagong etc,” said Mukesh
Sharma, managing director and
CEO, Runner Automobiles Ltd.
Runner would create a complete
ecosystem for Distribution and
Servicing of three-wheelers and
Qute in Bangladesh, he added. •
days of October, preliminary data
from the country’s Financial Supervisory
Service showed.
This follows 663bn won of outflows
from bonds in September,
with foreigners reducing holdings
of maturities of less than one year
by 3.4tn won, according to separate
data from the regulator.
“Short-dated notes are not attractive,
given low chances of a rate
cut in a near term, although investors
extended duration, indicating
US-Bangla Airlines adds first Boeing to its fleet
• Tribune Business Desk
their sentiment stays bullish,” said
Shin Dong-su, a fixed-income analyst
at Eugene Investment & Securities
in Seoul.
South Korea’s central bank holds
a policy meeting on Thursday and
is not expected to lower rates, with
rising household debt seen as one
hurdle to a cut.
In India, foreign investors
booked profits by selling more
$600m worth of domestic bonds
this month after buying $1.5bn of
US-Bangla Airlines has brought
Boeing 737-800 aircraft into its
fleet to expand its wing to home
and abroad.
Cockpit crew and officials of the
US-Bangla Airlines received the
new aircraft at Hazrat Shahjalal
International Airport yesterday
evening, creating a new milestone
in the aviation industry of Bangladesh.
US-Bangla will now be able to
connect more international destinations
in the upcoming days with
the 158-seater Boeing 737-800 aircraft.
The carrier began its journey on
July 17, 2014 with its maiden flight
from Dhaka to Jessore. The airliner
has so far successfully operated
over 16,000 flights in the domestic
and Dhaka-Kathmandu route.
With the new Boeing 737-800
aircraft, the total number of aircraft
of the company is now four.
Boeing 737-800 aircraft has 158
revenue seats each including 8
business class and Dash8 Q400 aircraft
76 seats each.
It took to the skies with a slogan
“Fly Fast-Fly Safe” and has
been providing committed services
ever since. Since its inception,
US-Bangla Airlines received a positive
market response and presently
holds a major connectivity of the
domestic routes and one regional
Dhaka-Kathmandu route. In a
span of just two years of its operation,
US-Bangla has established its
brand reputation.
In the domestic sectors, currently
it provides connectivity to all the
domestic airports with the capital
by giving regular flights. US-Bangla
Airlines operates three aircrafts
in its inventory; these are DASH
8-Q400 aircrafts.
To further expand its operation
into the international arena, the
management of US-Bangla will
procure two more brand new Boeing
737-500 aircraft, out of which,
them in September, before a policy
meeting on Oct 4 at which interest
rates were cut.
Foreign investors cut Thai bond
holdings by 9.2bn baht ($263.8m) in
the first 10 days of October, following
inflows of 15.3bn baht in September
and of 41.1bn baht in August, according
to Reuters calculations based on
Thai Bond Market Association data.
Thai markets have fallen this
week after a palace statement on
Sunday said the health of King
US-Bangla Airlines officials and crew members pose for photo as the company brings a Boeing to its fleet
one will be arriving in Bangladesh
in the third week of this month
and the other one in December
2016. Each aircraft will posses 4
lavatory to facilitate the passengers’
comfort.
The management of US-Bangla
Airlines has decided to operate
regular scheduled flight to Kolkata,
Kuala Lumpur, Bangkok, Singapore,
Muscat, Doha, Guangzhou
and many more international destinations
with these Boeing 737-
800 aircraft. US-Bangla will be the
first airline in Bangladesh to connect
Paro (Bhutan) with Dhaka in
Bhumibol Adulyadej, 88, was in an
“unstable” condition.
Malaysia saw bond outflows of
1.4bn ringgit ($336.9m) in September
after three months of inflows,
central bank data showed.
Indonesia
Foreign holdings of Indonesian
bonds, by contrast, have hardly
changed this month. Among Asia’s
highest yielding bonds, they attracted
16.9bn rupiah ($1.3bn) of
inflows in September, nearly double
the August level.
These inflows came as Bank Indonesia
last month delivered its
fifth interest rate this year, boosting
bond prices. The country also
collected 97.2tn rupiah in revenue
from the first phase of the country’s
tax amnesty, helping cover
the government’s fiscal deficit.
Some investors think the falling
yuan might prompt some foreign
investors to sell Chinese bonds and
move into other emerging Asian
debt. The renminbi has hit six-year
lows this week.
“After CNY depreciation, money
has been flowing out of onshore
China to the offshore market,” said
Gordon Ip, investment director at
Value Partners in Hong Kong. •
COURTESY
the near future.
US-Bangla Airlines maintains
an impeccable standard of service
equipped with incomparable reliability
and flying comfort with
in-flight service of international
standard, and reached the milestone
for best on-time performance,
which is about 98.7%.
To facilitate its passengers further
beyond flying, US-Bangla also
maintains a frequent flyer program
named ‘Sky Star’. For in-flight entertainment
of the passengers,
US-Bangla also published its own
in-flight magazine ‘Blue Sky’. •