Asia This Day:Qantas and Emirates Join Forces;Japanese Hiring Up

Japan's Tankan business confidence survey was up less than expected,from -12 in February to -8 in March,although it was the best quarterly improvement in two years.At the same time,China also reported a slight miss in estimates as the Purchasing Managers Index rose to 50.9 in March from 50.1 in February.HSBC's China PMI reading rose to 51.6 from 50.4,a little stronger improvement than the government's version.
Asian markets were lower on the mildly disappointing data,with the MSCI Asia-Pacific index falling 0.74% in early Monday trading.Markets in Hong Kong,Australia and New Zealand remain closed till Tuesday for the Easter holiday.
Chinese authorities told Beijing and Shanghai to place new restrictions on home buying in an attempt to limit skyrocketing prices.Homeowners were not to be granted credit to buy second or third homes.
Australia's airline Qantas and the UAE's Emirates Air have inaugurated their new alliance with a symbolic first flight .It will now be possible for Qantas passengers to fly to 65 international destinations from Melbourne and Sydney with one connecting flight in Dubai,as opposed to only five destinations in a previous alliance with British Airways.This will shave two hours off of flights to Europe.
Bookings to Europe are up six-fold on the new routes,which Goldman Sachs believes will be worth about Australian 90 million dollars to Qantas-or US 94 million.Qantas has cut its deficit from A262 million to A91 million in the first half of the fiscal year on retiring old planes and cutting unprofitable routes.CEO Alan Joyce has pledged to return the carrier to profitability.
For the first time in three years,Japan Airlines graduated about a thousand new hires in a JAL hangar in Tokyo.The workers stood stock-still in formation at the ceremony Monday.
Nomura Securities has hired the most new graduates in four years on the strength of the banking industry.

Asia This Day:Optimism About China,Japan Airlines

Japan Ailrlines' 663 billion yen initial public offering has priced at the top of its range,3.790 yen a share.The relisting of JAL shares will take place September 19.The airline is retiring its entire fleet of Boeing 747 aircraft and has 47 new planes on order.
Japan's Q2 GDP growth was only up 0.7%,missing the government's estimate by more than half.Morgan Stanley has cut its global growth forecast for 2012 to 3.2%.
India's rupee is trading at a 2 week high on optimism about further Federal Reserve stimulus action.
IMF President Christine Lagarde said China is rebalancing its economy.Its growth is still about 8%.China's 2013 growth will be better than 2012,Ms.Lagarde predicted.
In the UAE,Abu Dhabi shares rose 1.01 on Sunday,their best day in six months.The MSCI Asia Pacific index was flat in Monday morning trading.
Dariusz Kowalczyk,Senior Economist at Credit Agricole,is long on Chinese stocks.He said I am sure they are doing the right thing in China,monitoring growth.They have the goal of stabilising house prices.The Q4 GDP growth will rebound.Housing construction is rebounding now.
South Korea's Jiyai Shin and America's Paula Creamer engaged in an epic playoff on Sunday at the Kingsmill Championship in Williamsburg,Virginia.Neither LPGA golfer has won since 2010.Their abilities were so evenly matched,they had to retire for the evening after eight playoff holes failed to resolve the final round.Play will resume at 9am Eastern today.

Boston Welcomes Inaugural Dreamliner Flight To U.S.

A new era in commercial aviation began Sunday morning with the arrival of Japan Airlines Flight 8 at Boston's Logan International Airport.The non-stop flight from Narita Airport in Tokyo was the first commercial flight of the Boeing 787 Dreamliner to the United States.Touching down at 8:37 am Pacific,the flight surely delighted plane spotters in the Boston area who were able to catch a glimpse of aviation history. Rival All Nippon Airways had received the first deliveries of Dreamliners,but hasn't initiated its U.S. 787 flights yet.ANA has been flying the 787 in Japan,as well as to Europe and elsewhere in Asia. JAL will fly the 787 to Boston and back four times a week until June,when the service goes daily.It is a 12-13 hour flight. Boeing has more than 800 orders on the books for the new,lightweight aircraft-the first commercial jet to incorporate composite materials into the majority of its construction.Technicians from both the U.S. and Japan inspected the undercarriage of the JAL Dreamliner together upon its arrival at Logan. Boeing(BA)