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Business travel is experiencing a resurgence as companies plan to increase spending on business trips in the next year. According to a global survey, 42% of corporate travel planners intend to boost spending on business travel, with expectations that it may even surpass pre-pandemic levels. The return of business travel is reflected in the expected growth of business travel spending, which is projected to increase by 11% this year to reach $1.48 trillion. Business travelers are also increasingly combining work and leisure, making them an attractive demographic. While Asia Pacific leads the trend, some markets, like China, have not fully rebounded due to the lack of international flights. [Extracted from the article]

Carry trades, which involve borrowing money from countries with low interest rates and investing it in countries with higher yielding assets, have recently gained attention for their impact on global currency markets. The yen carry trade, in particular, has been popular among Japanese retail investors and has expanded to include hedge funds, investment firms, and traders worldwide. However, recent fluctuations in the yen's value have caused these trades to go south, resulting in significant losses for investors and impacting global markets. The article discusses the concept of carry trades, the popularity of the yen carry trade, and the risks and challenges associated with it. [Extracted from the article]

Hilton Worldwide Holdings Inc. is taking advantage of China's real estate crisis by converting empty office buildings into hotels. Despite the downturn in China's housing market, Hilton plans to add about 100 hotels to its network in China over the next few years. Approximately 25% of these hotels will be developed using empty office space, a model known as "adaptive reuse." China's commercial real estate market is experiencing oversupply and high vacancies, making it desirable for hotel operators to rent floors in these buildings. The hotel boom in China has not been affected by the property crunch and economic slowdown, as many Chinese consumers are choosing to travel domestically. Hilton's franchise partners are finding favorable terms for these conversions, including long-term leases with rent-free periods. Converting office space into hotels allows for a quicker turnaround compared to building hotels from scratch. However, the China hotel market still faces risks due to the lack of inbound travel from international tourists. Despite this, Hilton remains committed to the Chinese market, as the rising middle class and untapped spending potential present significant growth opportunities. [Extracted from the article]

The viral trend of people recreating a popular video game by sprinting and leaping around Cambodia's historic Angkor Wat and other temple ruins has conservationists concerned about potential damage to the sculptures and the cultural and religious insensitivities being displayed. Short videos of visitors running through the temples have gained millions of views on platforms like TikTok and YouTube. While some conservationists and officials are worried about the damage and disrespect to the temples, others see the trend as a way to boost tourism and the country's economy. The challenge highlights the challenge of balancing increased tourism, sustainability, and local life at historic sites. [Extracted from the article]

The Golden Triangle Special Economic Zone in Laos, initially intended for economic development, has become a hub for criminal activity, particularly crypto scam centers. These centers employ trafficked workers who scam people online, convincing them to make investments that result in significant financial losses. The zone is controlled by Chinese businessman Zhao Wei, who has close relationships with decision-makers in Laos. Despite allegations of criminal activity, little law enforcement action has been taken, likely due to the Lao government's investment in the project. The majority of victims are from the US, Europe, and China, but there are limitations to what foreign law enforcement agencies can do in another country. [Extracted from the article]

Bangladesh's Prime Minister Sheikh Hasina has been forced to step down and flee the country after weeks of protests and a brutal crackdown that resulted in several hundred deaths. Nobel Prize-winning economist Muhammad Yunus, who was previously facing politically motivated charges, has stepped into the leadership vacuum. The student-led uprising and Hasina's downfall have raised questions about the future of Bangladesh's economy, which has been seen as a promising success story in the region. The interim government led by Yunus will need to restore confidence in the country and address security concerns to ensure stability and attract foreign investment. [Extracted from the article]

Shipping containers filled with hazardous industrial waste from Albania that were bound for Thailand are now being sent back to Europe after environmental groups raised concerns about illegal exports to Southeast Asia. An A.P. Moller-Maersk ship carrying 40 containers of waste is due to arrive in Singapore and the cargo will then be returned to Italy. Another 60 containers on board the Maersk Candor will also be sent back to Europe. Thailand and other Southeast Asian countries have been dealing with an influx of trash from developed countries, including industrial and electronic waste that can be toxic. The Basel Action Network has called for the shipments to be returned to Albania and for the traders involved to be punished. [Extracted from the article]

Thai authorities are working to prevent around 100 shipping containers filled with hazardous industrial waste from reaching the country's ports. The Basel Action Network, a US-based nonprofit, alerted Thailand to the containers, which are believed to contain potentially harmful electric arc furnace dust. One of the ships carrying the containers disappeared from maritime tracking services near Cape Town after the organization alerted South African authorities. Thailand is coordinating with Albania and Singapore, where the vessels are due to dock, to stop the shipments. The influx of trash from developed countries into Southeast Asian countries has become a concern, as it can contain toxins and requires consent under the United Nations Basel Convention. The containers are on A.P. Moller-Maersk's Campton and Candor vessels, and Maersk has confirmed that the containers were not declared to contain hazardous waste. The Basel Action Network and other environmental groups have raised the alarm about the shipment of electric arc furnace dust, a hazardous waste product that contains toxic metal oxides. The containers are scheduled to arrive at Thailand's Laem Chabang port in August. [Extracted from the article]

This article provides an inside look at the Adani family, one of India's leading conglomerates, and their plans for succession. Gautam Adani, the current leader, discusses his long-term strategy for transitioning the business to the next generation. The four successors, Gautam's sons Karan and Jeet, and their cousins Pranav and Sagar, are introduced along with their respective roles in the company. The article explores the challenges and potential implications of this succession plan for India's economy and global development. Despite facing challenges such as short-selling attacks and regulatory probes, the Adani Group has taken steps to address these issues and improve transparency. [Extracted from the article]

Sports fans from China and Japan are driving an increase in travelers from Asia to Paris during the Summer Olympics, according to data from travel analytics firm ForwardKeys. China, Japan, and South Korea are the top countries in terms of trips originating from the Asia Pacific region bound for Paris. These travelers are also showing a preference for premium travel bookings, with demand doubling compared to last year. However, despite the surge in Asian travelers, international visitors to Paris during the Olympics have been lower than expected. [Extracted from the article]

Luckin Coffee, a Chinese coffee chain, has become the top coffee retailer in China, surpassing Starbucks, despite filing for bankruptcy less than four years ago. The company's success can be attributed to its automated stores, affordable prices, and innovative drinks that cater to local tastes. Luckin's rise was unexpected, as it faced a major accounting scandal in 2020 that led to its stock value plummeting and bankruptcy. However, with the support of Centurium Capital and new leadership, Luckin made a comeback and now operates over 18,000 stores in China. The company's ability to adapt to local preferences and generate buzz through innovative products has contributed to its success. [Extracted from the article]