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Business

Business briefs

By
Post Staff Report
Published March 26, 2012, 4:00 a.m. ET

Asia Week

New York’s 15 Asia Week auctions tallied $140.4 million, with classical Chinese painting and calligraphy commanding the highest prices. Sotheby’s four sales raised $61.8 million, surpassing the presale estimate of $41.4 million, while Christie’s seven auctions took $69 million, in the middle of the targeted range.

Berlin call

The IMF will call on the German government in its next series of country reports to implement reforms to spur growth in the face of the country’s rapidly-aging population, Der Spiegel reported, without citing sources. Meanwhile, Italy’s Prime Minister Mario Monti warned that Spain could reignite the European debt crisis as euro-area ministers prepare a deal to strengthen the region’s financial firewall.

Budget airline

Qantas Airways and China Eastern Airlines will spend as much as $198 million on a joint-venture budget airline based in Hong Kong, according to the airlines. The airline, to be named Jetstar Hong Kong, will start with three Airbus A320 aircraft in 2013, growing to as many as 18 by 2015, Qantas said.