Tue, Jan 14, 2020 - Page 10 News List

World Business Quick Take

Agencies

AUSTRALIA

Macquarie to buy AirTrunk

The country is set for its second-largest private equity deal of the past year, with Macquarie Group Ltd’s infrastructure arm agreeing to buy most of data-center firm AirTrunk. Macquarie Infrastructure and Real Assets finalized an agreement late last week to take control of AirTrunk, people familiar with the matter said. The investment values the business at about A$3 billion (US$2.1 billion), the people said. AirTrunk chief executive officer Robin Khuda would keep a minority stake after the transaction, the people said. AirTrunk is currently owned by investors including Goldman Sachs Group Inc’s special situations arm and TPG Sixth Street Partners.

GERMANY

State generates surplus

The federal government made a low double-digit billion euro surplus last year, Sueddeutsche Zeitung newspaper reported yesterday, thanks to higher tax revenues and record-low interest rates. Unused special funds — including money set aside for renovating schools or incentives for fighting climate change — also contributed to the surplus, Sueddeutsche added, citing government sources.

INVESTMENT

UAE to spend in Indonesia

The United Arab Emirates (UAE) is to invest US$22.8 billion in Indonesia through a sovereign wealth fund being set up by Indonesian President Joko Widodo as the Southeast Asian nation seeks to finance billions of dollars of infrastructure and energy projects. The UAE plans to invest in building Indonesia’s new capital and also develop properties in Aceh Province, the cabinet secretariat said in a statement, citing Indonesian Coordinating Minister for Maritime Affairs and Investment Luhut Pandjaitan.

SOUTH KOREA

Chinese tourist boom likely

The nations’ years-long disputes with China are being resolved, and analysts at Nomura Holdings Inc expect Chinese tourists to return en masse to the nation of K-pop. Nomura said in a note on Friday last week that Chinese group-package trips are resuming and received confirmation from a major travel agency in the country that its tour companies have started offering services to domestic customers for the upcoming spring festival.

CHINA

Goldman to double staff

Goldman Sachs Group Inc plans to double its headcount in the Chinese Communist Party-ruled nation over the next five years, provided it continues down the path of opening up its financial markets. The ambition to raise staffing to 600 is part of a five-year plan drawn up by executives at the New York-based investment bank, said a person familiar with matter who asked not to be identified discussing confidential plans.

AUTOMAKERS

Porsche deliveries up 10%

Porsche AG shrugged off widespread industry malaise, reporting record deliveries for last year and predicting that its first all-electric model Taycan would foster further growth this year. Global deliveries rose 10 percent to 280,800 vehicles last year, driven mainly by strong consumer appetite for the Macan and Cayenne sport utility vehicles, Porsche said in a statement yesterday. “We’re optimistic that we can sustain the high demand in 2020,” Porsche sales chief Detlev von Platen said in the statement. Sales momentum should benefit from “the introduction of some new models and full order books for the Taycan,” he said.

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