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Lagos / AFP Onele Vincent and his colleagues are fed up with the rising cost of living. So they decided to do something about it and led a noisy protest at a top Lagos hotel where they work. “Things are more expensive, rent is high, food is high,” Vincent said last week in the lobby of the Southern Sun hotel, ...

Michael Schuman special to emirates business All of the pieces are in place for a financial crisis in China. The currency is weakening and, if left to the market, would likely plunge further. Capital outflows have hit record levels. Reserves are in retreat. A dramatic selloff on Shanghai’s stock market has wiped out all the gains from 2015’s bull run. ...

Although South Korea is stepping up efforts to become an innovative and entrepreneurial economy, entrepreneurial possibilities remain slim for the majority of the population. President Park Geun-hye began her term in 2013 with plans to create a “creative economy, » driven by a vibrant startup culture in the tech industry. Since then, the Park administration has launched a number of ...

A world “drowning in oversupply” of oil and other commodities could make 2016 a super-cheap year for Asia’s major resource importers such as China and Japan. However, the drag on growth for commodity exporters is putting yet more pressure on emerging markets, according to the World Bank. In a January 26 report, the Washington-based lender cut its forecast for crude ...

Abu Dhabi / EMIRATES BUSINESS Al Forsan Real Estate welcomed its first group of tenants in ‘Al Forsan Village’. Located in the heart of Khalifa City, the project has 385 villas that are for lease as well as sale. Rent in these villas starts from AED210000. The sale price of a four bedroom villa at Al Forsan Village starts from ...

Sarajevo /AFP With 360 villas and apartments around an artificial lake, swimming pools, a halal supermarket and a Muslim prayer area, the ‘Sarajevo resort’ is one of Bosnia’s most ambitious residential projects to date. It is one of dozens of real estate ventures in the picturesque hills surrounding the capital of the Balkan country that are specifically targeting visitors from ...

Shanghai/ AFP Chinese e-commerce giant Alibaba saw its revenue jump 32 percent year-on-year for the quarter ending in December, it said in a statement, despite slowing growth in the world’s second-largest economy. Alibaba, which dominates the consumer-to-consumer market in China, said revenue reached $5.33 billion (34.54 billion yuan) in the December quarter, beating an average forecast of 33.2 billion yuan ...

Shanghai / AP Joysticks at their fingertips, the mostly male students packing the classroom lift their virtual helicopters into the air, part of a new cottage industry that’s sprung up in China: drone pilot schools. China is already the world’s biggest drone manufacturer, churning out remote-controlled flying machines that range from 3-D urban mappers to tear-gas spraying models for police. ...

Bloomberg Apple Inc. applied to open its own stores in India, a strategy that may help it better target a fast-growing market just as iPhone sales may be peaking. Apple said it’s filed a request with the Indian government to bring its retail outlets to the world’s second- largest country. Emerging markets will prove crucial to Apple as some analysts ...

San Francisco / AFP US online giant Amazon has reported profits doubled in the past quarter, as it attracted more customers with video and other services, but the results missed Wall Street forecasts. Amazon shares dived more than 13 percent to $551 in after-hours trade on the results, which showed a fourth-quarter profit of $482 million, up from a $214 ...