Qantas Airways’ annual profit surged 50% to a record $587 million, despite a 19% hike in its annual fuel bill because of higher oil prices. Qantas revenue for the fiscal year ending June 30, rose 11% to $12.4 billion, whereas its pretax...

UBS, the biggest Swiss bank, will buy 51 percent stake in South Korea’s largest asset managers, Daehan Investment Trust Management Company (DIMCO) for $162.2m from Hana Financial group. Under the joint venture, Dimco will lead in the market...