Rumours of the demise of medium-sized asset managers have proved to be greatly exaggerated, so far. But a combination of rising costs, a stagnant pool of profit and dwindling revenue in the next five years will hasten a divide in the industry between bigger firms enjoying economies of scale, and smaller specialists that can justify charging higher fees by excelling ...

During the past four decades, the US has become much more racially and ethnically diverse. The share of non-Hispanic white people residing in the country is now only 62 percent, while Hispanics and Asians together make up 22.5 percent. Since 2014, less than half of the kids born in the US have been born to two non-Hispanic white parents. Some ...

Bloomberg For decades, Vietnamese have shopped, snacked and hung out at the country’s traditional markets: colorful, chaotic mazes of open air stalls where vendors hawk everything from fruits and vegetables, to sandwiches and sodas to the odd clucking chicken. Seven-Eleven is pushing a different model. The Japanese-owned chain in August opened its first outlet in the country, an air-conditioned, Wi-Fi ...

Bloomberg London Stansted and Manchester airports owner MAG said it sees a relatively easy fix for the potential grounding of flights between the UK and European Union in the event of a so-called hard Brexit. The existing open-skies regime that permits unfettered flying by EU airlines within the bloc could easily be maintained by adopting a structure “mimicking” the status ...

Bloomberg Air France-KLM shares jumped the most in more than a year after a French newspaper reported that the troubled carrier is getting closer to appointing a new boss, and June traffic figures were better-than-expected. The French government — the airline’s biggest shareholder — is pushing Catherine Guillouard, who heads Paris metro operator RATP, as the future chief executive officer, ...

Bloomberg Amazon may be the bogeyman for many a business, and shopping mall investors have been among the most frightened. But MallPlaza’s not scared. The Chilean mall operator is prepping for an IPO this month, and its executives have been shrugging off the threat posed by the titan of e-commerce in recent meetings with analysts, citing the frequent addition of ...

ABU DHABI / WAM The Construction Cost Index (CCI) in Abu Dhabi reached a level of 103.5 percent during the first quarter of 2018, an increase of 9.9 percent compared to the first quarter of 2017, according to statistics issued by the Statistics Centre-Abu Dhabi, SCAD. Construction costs also rose during first quarter of 2018 by 5.6 percent, compared to ...

DUBAI / WAM Dubai will host the first Global Investment in Aviation Summit (GIAS) — a major aviation conference — to be attended by the world’s 500 top aviation investors, as the UAE emerges as the region’s biggest aviation hubs. The high-profile delegates from 40 countries will include 20 aviation ambass- adors, ten knowledge partners, 200 aviation officials and 300 ...

SHARJAH / WAM The Sharjah Investment and Development Authority (Shur-ooq) has announced, in cooperation with General Hotel Management Ltd (GHM) that September 1 will be the opening date for the region’s most coveted heritage resort, “Al Bait,” located in the Heart of Sharjah the largest historical preservation and restoration project in the region. The opening of the five-star hotel, Al ...

DUBAI / WAM The Ministry of Climate Chan-ge and Environment (MoCCAE) and Shalimar Biotech Industries, inked agreement to establish vertical farms on the ministry’s land in Dubai. Under the terms, MoCCAE will allocate 7,600 sqm of its land, provide Shalimar Biotech Industries with logistical support, and provide the services needed for the project. The company will establish 12 vertical farms ...