The Traderszone Network

Indonesia wants to play a major role in a new Chinese-led Asian infrastructure bank, with at least the vice-president’s position reserved for the Southeast Asian country, the finance minister said. The $50 billion Asian Infrastructure Investment Bank (AIIB), expected to start operations by the end of the year, is attracting a growing list of countries from Britain to India to New Zealand. Under President Joko Widodo, Indonesia is expected to be one of the main beneficiaries of the bank as it seeks significant funding to build new roads, ports and bridges in the vast archipelago.

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Hainan Airlines Co Ltd , China’s fourth-largest airline in fleet size, said on Wednesday it plans to order 30 Boeing Co 787-9 airplanes, valued at $7.7 billion at list prices. The order would boost Boeing’s …

The move follows GE’s notification to regulators in January of the planned layoffs of 330 people at its beam-pumping manufacturing facility in Lufkin, Texas. The cuts will impact workers in Angelina County, Texas. GE bought oilfield pump maker Lufkin Industries for about $3.31 billion in 2013, one of several deals the company has struck to boost its presence in oil and gas. The company had earlier warned that its oil and gas unit could see revenue and profit fall 5 percent in 2015, as customers of its equipment and services slash capital expenditure budgets.

While the company still has to combine the carriers’ reservation systems, a single certificate will mean the Federal Aviation Administration recognizes the airlines as one, and that the majority of their flight, maintenance and dispatch procedures will be identical. “Achieving SOC is a major milestone, but it does not mean that our integration is complete,” the newsletter said.

Wells Fargo & Co , the fourth-largest U.S. bank by assets, said it will cut 1,000 jobs and close its home-lending servicing office in Milwaukee, Wisconsin. As the U.S. economy has improved over the last …

Saudi launched air strikes in Yemen in coalition with Gulf allies to counter Iran-backed forces besieging the southern city of Aden.

Brent crude oil price surged $3 in Asian trading on Thursday after Saudi Arabia and its Gulf Arab allies began a military operation in Yemen