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World Business Quick Take

■ Banking
Spycams bring suspension
An executive of Korea Exchange Bank, South Korea's fifth largest lender, has been suspended for installing secret cameras in the office of the bank's US chief executive, banking sources said yesterday. Surveillance cameras were found last month when the office of Korea Exchange Bank (KEB) chief executive Richard Wacker was being renovated, the Financial Times reported. KEB declined to comment when asked about the report but banking sources suggested the devices had been installed by a local director. "The director was suspended from his post last month and we understand he installed cameras for Wacker's security, without his prior consent," one of the banking sources said. The lender, controlled by US private equity fund Lone Star, has four South Korean directors and six foreign board members.

■ Airlines
SIA's A380 order delayed
Singapore Airlines (SIA) said yesterday it had been notified by European aircraft maker Airbus of a delay in the delivery of the A380 super-jumbo jetliner. "We have been notified by Airbus of a delay and are working with them to minimize it. We are still working toward an entry into commercial service in the second half of 2006," the spokesman said. The spokesman would not give the reason for the delay or any other details. SIA is set to be the first carrier worldwide to fly the double-decker A380, billed as the biggest airliner ever built. SIA chief executive Chew Choon Seng said last year the airline hoped to start flying the plane next April. SIA has ordered 10 A380 aircraft, with an option to buy an additional 15. The aircraft has a price tag of about US$275 million.

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