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Albanian prosecutors have seized 102 containers of suspected hazardous waste that were forced to return to Europe from Southeast Asia. The containers, which were originally bound for Thailand, contained electric arc furnace dust and sparked international scrutiny due to the illegal trafficking of waste. The cargo has ignited controversy in Albania, with Prime Minister Edi Rama weighing in on the issue, and investigations are ongoing to determine how the waste was transported without authorization. The Basel Action Network is urging Albania to ban the export of waste to developing countries and calling for transparent testing procedures on the cargo's contents. [Extracted from the article]

BYD, a Chinese EV company, has become one of the best-selling EV brands globally after starting as a battery company in the 1990s. The company's aggressive expansion strategy includes targeting emerging markets and developing innovative technologies like the Blade battery. Despite facing tariffs in major auto markets like the US and EU, BYD's success is attributed to its founder's vision, hard work, and innovation, rather than just government support. [Extracted from the article]

DJI Technology Co. has filed a lawsuit against the US Department of Defense for designating it as a Chinese military company. Despite unsuccessful attempts to resolve the issue, DJI asserts that it is not owned or controlled by the Chinese military and primarily produces consumer and commercial drones. The defense department's list of Chinese military companies, aimed at countering Beijing's technology acquisition goals, prohibits American companies from engaging with listed Chinese firms. Other Chinese companies, like Advanced Micro-Fabrication Equipment Inc., have also taken legal action against the Pentagon for similar designations. [Extracted from the article]

The article discusses the case of Vietnamese businesswoman Truong My Lan, who was convicted of orchestrating a $12.3 billion fraud and sentenced to death by lethal injection. Lan's rise from selling makeup in a market to becoming a real estate tycoon is highlighted, along with her involvement in a massive fraud case that shook Vietnam's economy. The article also delves into the government's anti-corruption campaign and the impact of high-level corruption on the country's investment climate. [Extracted from the article]

This article from Bloomberg.com discusses the scrutiny that US Democratic Vice Presidential candidate Tim Walz is facing from Republicans regarding his ties to China. Walz first went to China in 1989 as a teacher and has continued to visit the country over the years, even spending his honeymoon there. The article explores what Walz's track record on China could mean if the Democrats win the election and whether his ties with the country would be seen as an asset or a liability. The article also mentions a Chinese school where Walz once taught, which is seen as a symbol of President Xi's tighter grip on the nation. [Extracted from the article]

Chinese travelers are increasingly heading to Europe and other international destinations during the Golden Week holiday, indicating a strong rebound in travel since China reopened its borders. Bookings for overseas flights, hotels, car rentals, and cruise vacations have all seen significant increases compared to last year. Asian destinations like Japan and Malaysia are popular, but long-haul spots such as Belgium, Croatia, Nordic countries, and the United Arab Emirates are also experiencing growth. The recovery of overseas tourism from China is crucial for the global travel industry, as Chinese tourists were known for their high spending before the pandemic. While international travel from China has not fully recovered, airlines have allocated about 20% fewer seats on overseas flights compared to pre-pandemic levels. However, flight demand to some destinations, particularly those with visa-free policies, has shown strong growth. Chinese tourists are shifting from large group tours to solo or couple trips to less crowded locations, and nature and wellness holidays are on the rise. Domestic tourism within China has also rebounded strongly, with certain destinations becoming popular due to their appearance in a popular video game. Chinese authorities are considering supporting concerts, sports events, and popular TV series to boost tourism, and some local governments are offering coupons to boost consumption. Despite a sluggish economy, Chinese travelers are expected to make nearly 20% more trips on the mainland during Golden Week compared to 2019, with the majority of trips being made by car. [Extracted from the article]

Chinese travelers are increasingly heading to Europe and other international destinations during the Golden Week holiday, indicating a strong rebound in travel since China reopened its borders. Bookings for overseas flights, hotels, car rentals, and cruise vacations have all seen significant increases compared to last year. Asian destinations like Japan and Malaysia remain popular, but there is also growing interest in long-haul spots such as Belgium, Croatia, Nordic countries, and the United Arab Emirates. The recovery of overseas tourism from China is crucial for the global travel industry, as Chinese tourists were known for their high spending before the pandemic. While international travel from China has not fully recovered, airlines have allocated about 20% fewer seats on overseas flights compared to pre-pandemic levels. However, flight demand to some destinations, particularly those with visa-free policies, has shown strong growth. Chinese tourists are also shifting from big group tours to solo or couple trips to less crowded locations, and there is an increasing demand for nature and wellness holidays. Domestic tourism within China has rebounded strongly, with the number of trips during Golden Week expected to be nearly 20% higher than in 2019. Most of these trips will be made within the mainland, with a significant number of travelers opting for driving or using high-speed rail. [Extracted from the article]

The article discusses the possibility of the Chinese yuan replacing the US dollar as the world's reserve currency. It highlights the concerns raised by former US President Donald Trump about the dollar's status and his plans to prevent other countries from moving away from it. The article also explores the historical background of the dollar's dominance and the reasons why other countries are incentivized to use it. While there is increasing rhetoric about de-dollarization, the article suggests that it would be challenging to replace the dollar due to its size, stability, and entrenched position. It also mentions that the Chinese yuan is not seen as a strong contender due to China's political system and lack of transparency. [Extracted from the article]

Hotel loyalty programs, such as Hilton and Marriott, are offering unique experiences to attract and retain members. These experiences range from VIP seats at concerts to private masterclasses with athletes. Loyalty programs are a significant source of revenue for hotel chains, with members booking directly through the chains' websites or apps, bypassing commission fees. China is a key market for loyalty programs, with Chinese travelers valuing these programs when choosing hotels. The competition among hotel chains to offer memorable experiences is fierce, and members are increasingly redeeming points for these experiences. [Extracted from the article]

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]

The American Club in Hong Kong has reversed its decision to buy back membership debentures at face value, which would have resulted in significant losses for members. The club faced backlash for the plan, as debentures were trading at much higher prices in the secondary market. Members now have the option to retain their debentures or transfer them into another category of individual membership without any additional cost. The club's original plan was aimed at maintaining its nonprofit tax status and increasing the number of voting and non-voting members. Private member clubs, like the American Club, have long been a part of Hong Kong's social fabric, catering to various interests and providing amenities not always available in apartment complexes. [Extracted from the article]

The American Club in Hong Kong has caused controversy by deciding to buy back debentures at face value, resulting in significant losses for many members. The club plans to redeem individual debentures held by non-voting members who are not Americans, impacting around 200 members. Those affected can either leave the club or rejoin at a price of HK$1.5 million. The move is aimed at streamlining membership categories and ensuring the club retains its nonprofit tax status. The American Club is one of many private member clubs in Hong Kong, which are popular with families and offer facilities not always available in apartment complexes. [Extracted from the article]

Japan and Thailand are the top destinations for Chinese tourists traveling abroad this summer. Factors such as currency exchange rates, visa-free entry, and lower costs make these countries attractive to Chinese travelers. While the return of Chinese tourists to the global travel market is being closely watched, their numbers and spending are crucial for the tourism industry's recovery. Although some European destinations are also expected to show growth, countries that are part of China's Belt and Road Initiative, such as Turkey and Hungary, are expected to see an increase in travel from China. [Extracted from the article]

The family office industry in Singapore and Hong Kong is facing an issue with imposters who claim to represent family offices, deceiving professionals and gaining access to events. The lack of regulation and secretive nature of the industry makes it difficult to identify these imposters. However, efforts are being made to prevent fraud, such as using messaging groups for information sharing and increased scrutiny by authorities. This article provides a comprehensive overview of the impact of the COVID-19 pandemic on the global economy, discussing affected sectors and the challenges faced by businesses and individuals. It also explores the measures taken to mitigate the economic downturn, presenting a balanced view of the situation. [Extracted from the article]

Thailand is preparing for an increase in tourism following the filming of Season 3 of the TV show "The White Lotus" in various locations in the country. The previous seasons of the show filmed in Hawaii and Sicily led to a surge in visitors to those destinations. Luxury travel agencies have already seen a spike in bookings to Thailand, with prices increasing as well. Hotels and tour operators are anticipating a "White Lotus bump" and are experiencing increased interest and bookings. Thailand's tourism ministry has also offered incentives to attract film productions to the country. However, there are concerns about the readiness of certain areas, such as Koh Samui, to handle the influx of tourists due to issues like waste management and water shortages. [Extracted from the article]

Chinese tourists are expected to spend nearly $1 trillion on holidays this year, surpassing pre-pandemic levels for the first time. They are projected to spend $250 billion on international trips, a 10% increase from 2019, and a record 6.79 trillion yuan on domestic travel. Chinese tourists are crucial to the global tourism industry, outspending tourists from other countries. While international travel has not fully rebounded, domestic spending is expected to be 11% higher than in 2019. China has eased visa restrictions to boost inbound tourism and investment. [Extracted from the article]

A woman who fled Vietnam with her family in Jul 1979 at the age of six recounts her memories of life in Vietnam and the challenges she faced on arriving in the US. Her parents' reaction to her marriage to an American is considered.

Stacy Fischer-Rosenthal and her 30-strong team have had a busy summer booking private yachts for bankers, CEOs and other high flyers now liberated from the shackles of Covid and willing to pay millions of dollars for week-long luxury cruises. [ABSTRACT FROM AUTHOR]

The article describes the EverGiven crisis in the Suez canal in Egypt, which took place in 2021. For six days the canal was blocked by a container ship called the EverGiven, which disrupted global trade and resulted in the German ship management company Bernhard Schulte Shipmanagement (BSM) being asked to pay about $550 million to the Egyptian government for damages.

The article discusses the debate in Japan over whether to restart the Kashiwazaki Kariwa nuclear power plant, the world's largest nuclear plant, which has been shut down since the Fukushima disaster in 2011. The plant, owned by Tokyo Electric Power Company (Tepco), is seen as a critical piece of Japan's energy puzzle and a potential boost to sentiment for nuclear power use. However, there are concerns about safety and evacuation plans, as well as the lack of benefits for the local community. Japan's reliance on imported fossil fuels and the global trend towards nuclear power are also factors in the discussion. [Extracted from the article]

China's economic growth has slowed down, leading to discontent among its population. Factors such as a real estate collapse, a trade war with the US, and a crackdown on entrepreneurs have contributed to this slowdown. The impact of the slowing economy on the people and how the Chinese government is responding to this shift is explored in this article. The article features interviews with Bloomberg correspondent Rebecca Choong Wilkins and Bloomberg's Chief Economist Tom Orlik. [Extracted from the article]

This article examines the rise and enduring popularity of Indian Prime Minister Narendra Modi. It highlights his success in transforming India into one of the world's fastest-growing economies and gaining support from influential figures like Mukesh Ambani. The article also discusses how Modi utilized his relationships with billionaires to consolidate his power, focusing on economic development and appealing to Hindu nationalism. It acknowledges the criticisms and controversies surrounding his leadership, including accusations of religious discrimination and tensions with religious minorities. Despite these issues, Modi remains popular among his Hindu-majority base and has been praised for his economic achievements. [Extracted from the article]

Chinese tourists are returning to international travel at near pre-pandemic levels, with outbound trips during the May Labor Day holiday only 7% below 2019 levels. Domestic ticketing has also surpassed 2019 levels by 4% for the same period. This rebound in travel is crucial for the global travel industry, as Chinese travelers spent nearly $248 billion on trips abroad in 2019. The resurgence of international and domestic travel in China is seen as a promising sign for the industry and is expected to benefit destinations in Asia, Europe, and the Middle East. [Extracted from the article]

Japan experienced a surge in tourist visits in March, with a record number of 3.1 million visitors, a 70% increase from the previous year. The increase was driven by tourists from South Korea, Taiwan, and China, among other countries. The early start of cherry blossom season and a weakening yen were cited as factors attracting tourists. The extended slump in the yen has also impacted outbound travel demand for Japanese. However, while Chinese tourists showed significant growth, their numbers remain below pre-Covid levels. Foreign visitors to Japan spent 1.75 trillion yen ($11.3 billion) in the first quarter of 2024, a 52% increase from 2019. [Extracted from the article]

The article focuses on investments being made by global shipping giants in retrofitting or building cargo vessels that use wind energy to meet the industry's goal of reducing greenhouse gas emissions by 50 percent by 2050. Topics discussed include the invention of sailboats for maritime commerce by Egyptian mariners, the number of commercial vessels powered by wind energy by the end of 2022, and factors contributing to the increase in investment in wind-powered vessel innovations.

The article focuses on the environmental, social and governance issues facing Chinese fast-fashion giant Shein. Topics discussed include the company's business model, the growth of the company in 2021, the company's plan to issue an initial public offering in the U.S. as part of the company's strategy to change its image, criticisms of the fast fashion industry, and the accusations of copyright theft facing the company.

The article focuses on the impact of Russian invasion of Ukraine on the tourism industry in several countries. Topics discussed include the sanctions imposed by countries on Russia, the effect of the sanctions on credit cards issued in Russia and on Russian tourists, the financial struggles of the hospitality industry in Russian tourist hot spots following the invasion, and the share of Russia in tourism revenue in Thailand and Sri Lanka.

The article looks at the conditions faced by the crews of cruise ships during the COVID-19 pandemic, focusing on the spate of suicides committed by cruise-ship crew members. It notes many crew members were forced to stay on their ships at sea and to social distance from one another for long periods of time when the industry was shut down due to the pandemic. It reports both praise and criticism concerning how cruise companies handled the situation. Cruise companies mentioned include Carnival and Royal Caribbean.

The article reports on the problems arising from the disposal of masks used in the COVID-19 pandemic. It mentions the billions of masks used and disposed of each month, how the masks break down into microplastics and add to marine pollution, and the business startups trying to create biodegradable masks.

The article reports on the use of insects as a protein source in food. It mentions the consumption of insects in developing countries, plans for their use in meat substitutes, and how many companies are starting with animal feeds before moving on to human food.

The article discusses the stranding at sea of Holland America Line company's MS Zaandam cruise ship during the COVID-19 pandemic. Coronavirus infections among ship passengers and crew are examined along with the efficacy of Centers for Disease Control recommendations for cruise ships' management of epidemic outbreaks of disease and attempts to end the cruise early at closed ports in Chile, California, Mexico, or Florida.

The company said the bulk of the material collected through store drop-off is recycled to make packaging and shopping bags, including ones for use at Target stores. The world's biggest consumer companies from Procter & Gamble to Unilever Plc and Coca-Cola Co. use the group's store drop-off label on their packaging. General Mills, which makes Nature Valley bars, said the company aims to design packaging to be recyclable and clearly label products for consumers using common icons and language provided by How2Recycle. "However, the ability of the Store Drop-off stream to alleviate the packaging industry's end-of-life challenges with flexible packaging will be likely limited long term.". [Extracted from the article]

The article focuses on how three-dimensional (3D) printing startup companies have been reacting to the pandemic caused by the coronavirus known as COVID-19. Topics include how they are creating parts for medical equipment, ventilators and test kits, and the collaboration with New York private health-care provider Northwell Health.

Country Garden's long-term corporate family rating was downgraded by Moody's to Ca from Caa1. (Bloomberg) -- Moody's Investors Service downgraded embattled Chinese developer Country Garden Holdings three notches to Ca, piling on more pressure on the distressed company whose liquidity crisis has shaken the nation's financial markets. [Extracted from the article]

(Bloomberg) -- The $500 million Nord superyacht owned by Russian tycoon Alexey Mordashov reappeared after about eight months in the dark, having evaded capture by the US and its allies. The superyacht is due to arrive in Busan on June 24, according to data compiled by Bloomberg. [Extracted from the article]

The article focuses on the overcrowding of business class lounges in airports around the world as the travel industry recovers during the post-Covid-19 period. Topics discussed include the benefits of business-class lounges being enjoyed by business and affluent travelers, reasons behind the increase in the number of travelers enjoying business class lounges, forecasts on demand for business class lounges from travelers, and the effect of the trend on prime customers.

Hong Kong International School raised its tuition and capital levy by 3% for the next academic year, while International Montessori School lifted fees by as much as 5.1%. (Bloomberg) -- Tuition fees for students attending English Schools Foundation in Hong Kong will rise by an average 5.8% in the coming academic year. [Extracted from the article]