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  In opening up sectors from aviation to defense to 100 percent foreign ownership this week, India’s government is clearly hoping to signal that its reform drive is revving up again. Next on the agenda may be one of the most far-reaching new measures in years: a long-awaited, nationwide goods-and-services tax, or GST. India’s Aspirations Sceptics have reason to roll ...

  Since the middle of 2014, cyberattacks by China-based hacking groups against the U.S. government and private sector have declined, according to a June 2016 analysis by the U.S. cybersecurity firm FireEye. A FireEye team reviewed the activities of 72 hacking groups purportedly operating out of China or supporting Chinese state interests from the beginning of 2013 to June 2016. ...

  Shah Meer SPECIAL TO EMIRATES BUSINESS The China-Pakistan Economic Corridor (CPEC) has attracted attention all over the world. Politicians and analysts say CPEC will reshape the geopolitics of the region and bring unprecedented economic development to Pakistan. For China, CPEC is a vital part of its much larger One Belt, One Road (OBOR) initiative, a game-changing project which aims ...

  London / Agencies Tesco Plc reported a second straight quarter of UK sales growth, the first time it’s done so in five years as the grocer’s turnaround gathers momentum. Excluding fuel, UK same-store sales rose 0.3 percent in the 13 weeks to May 28, Britain’s largest retailer said on Thursday. That compares with the median of 13 analysts’ estimates ...

  Hanoi / Tribune News Service The opening of direct flights between India and Laos aims to enhance people to people contacts between the two Asian neighbours. Lao News Agency recently quoted India’s ambassador to Laos, Ravi Shankar Aisola as saying the direct flights between India and Laos were in the final stages of approval and very soon there would ...

  Berlin / Bloomberg Frankfurt airport is investing 100 million euros ($113 million) in a series of upgrades that includes yoga rooms, playgrounds and a forest-like recreation area to make passengers more comfortable and hence more willing to spend money at the shops. Airports around the world have increasingly transformed into family-friendly malls to lift earnings amid restrictions and competition ...

  New York / AFP The Solar Impulse 2 landed in Spain on Thursday morning after completing a 70-hour flight from New York in the first solo transatlantic crossing in a solar-powered airplane. Applause broke out as the experimental plane set down at Seville airport in southern Spain just before 7:40 am (0540 GMT) where a team was on the ...

  Beijing / Bloomberg Japan’s $1.3 trillion Government Pension Investment Fund (GPIF) is suing Toshiba Corp. for losses on its investments after an accounting scandal sent the conglomerate’s shares plunging. GPIF is seeking damages of about 900 million yen ($8.6 million), said Shinichirou Mori, a spokesman for the fund. The losses relate to shares bought by GPIF’s external fund managers in ...

  New Delhi / Tribune News Service The cabinet cleared a Rs.6,000 crore package for the textile sector, aimed at generating 10 million jobs over the next three years and improving the sector’s competitiveness globally. The sops, which include incentives related to tax, production and labour to garment makers, are meant to help India overtake Bangladesh and Vietnam in apparel ...

  BEIJING / AP US, European and Chinese regulators say they will jointly enforce product safety in online commerce, and an American official said they are making progress on crafting standards for hoverboards. The statement by American, European Union and Chinese officials reflects the rapid growth of international e-commerce, which the officials said “has created new challenges” in protecting consumers from ...