Thomas Cook Group Plc’s rescue by Fosun Tourism Group moved a step closer as creditors approved a 900 million-pound ($1.1 billion) bailout led by the Chinese investor. The ailing British travel company’s shareholders could be forgiven for thinking they have got the loungers on the shady side of the pool. Under the terms of the deal, Fosun will own 75% ...

China has long promoted its traditional medicinal system as a national treasure and more recently as a tool of soft power. While the ancient art remains a policy priority, however, it faces very modern challenges including rising costs, complexities of production and treatment, and murky intellectual property rights. Chinese medicine practitioners have been treating patients with herbal medicine and acupuncture ...

The beleaguered Indian economy is finally making a sensible bargain with the rest of the world: “Take our billion-plus customers, give us jobs.” Under a new foreign direct investment policy announced by Prime Minister Narendra Modi’s government, India is undertaking its biggest liberalisation of single-brand retail in seven years. One major concession: Contentious local sourcing requirements will need to be ...

When asked about President Donald Trump’s economic policies, most US business leaders are likely to offer a polite but nuanced response. They welcome measures that have improved the operating environment for their businesses and sustained America’s economic outperformance. But they also wonder whether more could have been accomplished by working across party lines and with international allies. That distinction is ...

Going by the mainstream business press, you’d think the big stories of 2019 in cryptocurrencies are the quadrupling of the price of Bitcoin and a shift by big institutions such as JPMorgan Chase & Co. and Facebook Inc. from the blockchain-not-bitcoin model popular from 2014 to 2018 to bitcoin-with-training-wheels. If you read technology newsfeeds, you’d instead focus on new highs ...

Dubai / WAM Hazzaa AlMansoori, the first Emirati astronaut to travel to the International Space Station (ISS) on September 25, and Sultan AlNeyadi, the back-up astronaut for the same mission, successfully completed their final tests for the mission at the Yuri Gagarin Cosmonaut Training Center, in Star City, in Moscow. Each day of the exam started with the astronauts saluting ...

Bloomberg / WAM Emirates NBD Bank (Emirates NBD), on Monday announced its intention to increase Foreign Ownership Limit (FOL), to 40 percent in the future, and will seek necessary approvals from its shareholders and the relevant regulatory authorities, in due course. Emirates NBD also announced the implementation of an immediate increase in its FOL from 5 percent to 20 percent after ...

Bloomberg Opec’s crude production rose last month, the first increase since the group and its allies started a new round of output cutbacks at the start of the year to shore up a weak global market. Nigeria and Saudi Arabia led the boost by the Organisation of Petroleum Exporting Countries (Opec), which collectively increased by 200,000 barrels a day to ...

DUBAI / WAM Dubai Investments Park (DIP) is spurring up its investments towards the development of various infrastructure facilities, and has invested a total of AED1.5 billion ($41mn) since its inception. The enhancement projects are focused infrastructure investments across DIP and are termed top priority in line with ongoing community development planning initiatives. DIP currently offers over 140km of internal ...

Bloomberg Manufacturing across vast parts of Europe and Asia remain deeply mired in a crisis that took another turn for the worse over the weekend. One day after the US and China enacted new tariffs on each other’s imports, factories from Germany and Italy to Japan, South Korea and Taiwan sent a gloomy reminder that they are suffering badly from ...