Philippines / Bloomberg San Miguel Corp. President Ramon Ang gave up his telecom ambitions by agreeing to a $1.5 billion deal that raises money for his energy, infrastructure and other businesses’ expansion. Philippine Long Distance Telephone Co. and Globe Telecom Inc. acquired the telecommunications business of San Miguel Corp. for about 70 billion pesos ($1.5 billion), including debt, according …

  Shanghai / Bloomberg China’s slowing economy isn’t putting the brakes on tourism. Shanghai Disneyland attracted almost 1 million visitors to its public areas weeks before the $5.5 billion theme park officially opens June 16. And tourism spending is likely to triple by 2020 after industry investment jumped 42 percent last year, the government says. “The Chinese consumer is spending …

  ALKESH SHARMA / Emirates Business A gateway to the most exciting retail market in the world, the Retail Show Middle East 2016 is all set to open on Tuesday. The two-day event — a platform for innovation, new partnerships, and launch of ground-breaking products — will host exhibitors and attendees from across the Middle East, North Africa, Indian subcontinent, …