BlackRock to launch private fund in China

BlackRock, the world’s largest money manager, said it is preparing to start a private fund in China after the country opened the market wider to global players. The firm plans to set up a wholly foreign-owned enterprise for its private fund business in the nation, according to Chen Ting, general manager at BlackRock Overseas Investment Fund Management — Bloomberg

OPENING ACCESS: Global fund managers have rushed to China, the world's second-biggest economy, as it quickens opening its capital markets to counter outflows and promote global use of the yuan. Picture: GALLO IMAGES/AFP/KAYSEMI
OPENING ACCESS: Global fund managers have rushed to China, the world's second-biggest economy, as it quickens opening its capital markets to counter outflows and promote global use of the yuan. Picture: GALLO IMAGES/AFP/KAYSEMI

Emirates signs partnership with flydubai

Emirates, the world’s biggest long-haul airline, will form a partnership with low-cost sister carrier flydubai aimed at allowing the companies to feed passengers onto each other’s flights.

The deal will include network collaboration and co-ordinated scheduling at Dubai International Airport, where both airlines are based, Emirates said on Monday. It will be rolled out from the fourth quarter, starting with enhanced code-sharing arrangements.

Dubai has been looking to place the two government-owned carriers under a single structure for several months — Bloomberg

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