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  Organisation for Economic Cooperation and Development’s (OECD) stern caution on Wednesday is another fresh warning that the global economy could slip into recession if the top and emerging economies do not step up spending on development. The wariness follows weak recovery since the global economic crisis in 2008 and signs of global economic growth slowdown sparked by poor performance ...

  Dingding Chen SPECIAL TO EMIRATES BUSINESS U.S. Defense Secretary Ashton Carter recently made some controversial comments about China’s actions in the Asia-Pacific, especially the South China Sea, saying that China is “erecting a great wall of self-isolation” there. Not surprisingly, Chinese foreign ministry spokeswoman Hua Chunying refuted Carter’s comments by referring to them as reflective of a ‘Cold War’ ...

While some parts of Asia are setting the pace for the global Internet, other areas are being left far behind. For example, while Indonesia may have over 90 million people on the Internet, this number is far short of the true potential in a country with a population of over 250 million. The “digital divide” is real and it encompasses ...

Each time the European Union’s sanctions against Russia come up for renewal, there’s speculation that some countries might break ranks and vote against the trade and financing restrictions. There will probably be no deserters this time around either; but a softening of the sanctions is on the cards in the near future. In December, the sanctions, which include travel bans ...

  Eric Mack SPECIAL TO EMIRATES BUSINESS Last year, a survey of 1,000 20-somethings worldwide found young adults most admire Nelson Mandela and Pope Francis among public figures. But the name coming in third on that list wasn’t Barack Obama or a historical figure like Gandhi, both of whom appear further down in the poll results. The man who ranks ...

  South Korea is faced with periodic environmental disasters in the form of pollution blowing from China. In the winter, the source is typically excessive burning of coal used in China for heating. In the spring, yellow dust from the deserts of northern China and Mongolia are blown across Northeast Asia, picking up soot and carcinogens from China-based industrial processes ...

  San Jose / Tribune News Service Two weeks before Air China would start whisking Bay Area travellers from Mineta San Jose International Airport to Shanghai, the airline unexpectedly pulled its plans to launch new service here. “We know at this time that Air China will not meet their proposed launch date of mid-June 2016,” said airport spokeswoman Rosemary Barnes. ...

  Oslo / AFP Irish no-frills airline Ryanair announced on Wednesday it will shut down one of its Norway bases, condemning to closure an airport in the Oslo region, in protest against a disputed new tax. “The Oslo base will close in October,” Ryanair’s chief commercial officer David O’Brien told reporters as an 80 Norwegian kroner ($10, nine-euro) passenger tax came ...

  Mumbai / Tribune News Service India’s domestic air traffic market grew the fastest in the world for the 13th consecutive month in April, the International Air Transport Association (IATA) said in its report. The market grew at nearly 22%, it said. “India’s domestic traffic soared 21.8%, marking the 20th month of double-digit traffic growth and the 13th consecutive month ...

London / AFP Britain’s historic menswear chain Austin Reed, whose suits were worn by Winston Churchill and The Beatles, said on Tuesday it will close 120 stores by the end of June as it winds down its operations. The company fell into administration last month and no viable offers were made for its purchase. Austin Reed’s administrators AlixPartners said: “We have ...