China opens up debt market
SHANGHAI - China will allow private investment funds to trade in the country's interbank debt market for the first time, says a central bank document dated Monday and obtained by Reuters yesterday.
Managers of funds who have net capital of more than 10 million yuan (S$2.17 million) can apply for a licence to trade fixed income products, including government and corporate bonds.
High cost of Maggi ban
ZURICH - Swiss food giant Nestle said on Monday that India's ban on Maggi instant noodles had led to 3.2 billion rupees (S$67.3 million) worth of goods being withdrawn. India's food safety regulator banned the product over tests which it said showed excessive levels of lead.
Gap to close stores
SAN FRANCISCO - Apparel retailer Gap will close a quarter of Gap speciality stores in North America over the next few years, including 140 this year, as it struggles with a slump in sales in its namesake brand.
Boeing tops rival in orders
PARIS - Boeing extended its lead over Airbus on the second day of the Paris Air Show, pulling in the biggest deal yet at the expo for 100 single-aisle planes that gives it almost twice the orders of its archrival.
The deal, by leasing company Aercap Holdings NV, is valued at about US$10.7 billion (S$14.4 billion).