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Economic reforms are much like New Year’s diet resolutions: easily announced and easily forgotten. So perhaps it shouldn’t be surprising that the pronouncements that have emerged from China’s National People’s Congress — pledges to slash overcapacity, open up the financial system, accept lower growth — echo unfulfilled promises from previous Party gatherings. Still, China prides itself on being different. The ...

A little more than a decade ago, Hong Kong was the world’s busiest port. Giant vessels competed to get into the city’s berths, waiting to load and unload containers filled with goods manufactured just over the border in China’s factory towns. Back then, Hong Kong still expected that its freewheeling commercial culture could change China for the better. And trading ...

BLOOMBERG The dollar extended its best run of gains in a month and oil rallied before the Federal Reserve’s policy review on Wednesday that may shed light on the timing of U.S. interest-rate increases. America’s currency climbed versus the yen after Bank of Japan Governor Haruhiko Kuroda said the Asian nation’s key rate could theoretically drop to minus 0.5 percent. ...

ABU DHABI / EMIRATES BUSINESS The Emirates Securities Market Index has decreased by -0.66% to close at 4443.67 points. Accordingly the Market Capitalization has lost AED 4.81 billion attaining AED 720.82 billion. A total of 0.59 Billion Shares were traded with a total value of 0.84 Billion AED during the trading session of 16-03-2016 through 8618 transactions. The number of companies which ...

Geneva / Emirates Business Global air freight markets in January has shown a good rise in freight tonne kilometers (FTK) of 2.7 percent compared to January 2015. This continues the improving trend witnessed toward the end of 2015, and is the fastest pace since April of last year, said the International Air Transport Association (IATA) in its recently released data. ...

Bloomberg French retailer Casino Guichard-Perrachon SA plans to soon seek second-round bids for its Big C grocery chain in Vietnam, people with knowledge of the matter said. Casino aims to ask for binding offers in the coming weeks, according to the people, who asked not to be identified as the information is private. Japan’s Aeon Co. was among several parties ...

Manila / Emirates Business The Philippines, no doubt, is full of vibrant hues and even more colorful people. Azure skies and aquamarine waters are complemented by the bright, sunny personality of Filipinos. Cebu Pacific Air, the Philippines’ largest airline, has unveiled new cabin crew uniforms that are inspired by these unique traits that we do so love about the country. ...

Bloomberg Telstra Corp. hired former Nokia Chief Executive Officer Stephen Elop to a newly created technology, innovation and strategy position as Australia’s biggest telecommunications company seeks global growth. Elop, 52, will be responsible for strategy as the company seeks to be a “world-class technology company” and report to CEO Andrew Penn, Telstra said on Wednesday in a statement. The carrier ...

ABU DHABI / Bloomberg Bookings from would-be space tourists planning to fly with Richard Branson’s Virgin Galactic Ltd. have recovered almost to the level seen before the fatal breakup of its SpaceShipTwo rocket plane in October 2014. About 25 of 700 fee-paying clients withdrew from the program after the crash in the Mojave Desert in California caused it to be ...

Kalba / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, emphasised the pride of the UAE’s wise leadership by Emirati women who translate their deep-rooted values and loyalty to the precious homeland. Sheikh Mohamed said, “Every time our Emirati mothers provide a role model and ...