Much of the boom has been driven by the surge in popularity of Southeast Asia’s budget carriers, such as AirAsia, whose Flight 8501 crashed into the sea Sunday morning on its way from Surabaya, Indonesia, to Singapore. It is still unclear exactly what happened to the plane, but the aviation disaster has put a new spotlight on the obstacles that lie ahead for the booming region.


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Petrobras said it aims to revise its planned investments fornext year as it tries to avoid a cash squeeze in the midst ofthe corruption scandal and lower crude oil prices. (Reporting by Stephen Eisenhammer; Editing by Jeb Blount andKen Wills)


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Typically, when Obama is involved in recreational activities like golf or hiking, the events are considered "unofficial" and not announced beforehand on his public schedule. Keeping the events a secret until they take place allows the Secret Service to minimize the costs and disruption involved in securing a location for Obama's arrival, but it also makes it harder for the public to anticipate when a presidential visit might throw a wrench in their plans.


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** Commercial Bank of Kuwait KSC has cut its stakein Boubyan Bank KSC to about 12.7 percent from the19.9 percent which it held in September, CBK's chief executivesaid. ($1 = 0.64 pounds) (Compiled by Yashaswini Swamynathan in Bengaluru)