The China Mail - Economy

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Scandic Trust Group strengthens sales network with First Idea Consultant

As the Hong Kong daily "HongKong Telegraph" recently learned, the SCANDIC TRUST GROUP, an internationally operating conglomerate that is not active in the hotel industry, is expanding its international sales network: After successfully passing a thorough KYC and AML check (process control to verify identity, prevent money laundering, terrorism financing and all corporate activities) by bankers, the Dubai‑based and internationally active corporate association "FIRST IDEA CONSULTANT" will be integrated into the SCANDIC TRUST GROUP as a new sales partner under the name "SCANDIC SETUP".FIRST IDEA CONSULTANT, founded by internationally experienced bankers under the leadership of Amir Aslam, has for years successfully supported international founders and investors in the legally compliant establishment of companies and business accounts in the Gulf states of the GCC (Gulf Cooperation Council). Thanks to a multilingual team of experts in German, English, Russian, Ukrainian, Hindi, Arabic and Chinese, clients worldwide are accompanied professionally.

Nexperia chip exports resuming: German auto supplier

A leading German auto supplier said Friday it has received permission to export Nexperia chips from China again as Berlin welcomed signs of "de-escalation" in a row that has alarmed carmakers.

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Stock markets shrug off looming US government shutdown

Global stock markets mostly rose on Monday, shrugging off concerns about a looming US government shutdown.

Jaguar Land Rover to partly resume output after cyberattack

Jaguar Land Rover on Monday said it will partially restart production in the coming days after a damaging cyberattack halted operations at its UK factories.

Stocks gain, gold hits record as Trump readies new tariffs

European and Asian stock markets largely gained Monday and gold hit a record high after US inflation figures met expectations, soothing concerns about President Donald Trump's latest tariff salvo.

Germany's Lufthansa to slash 4,000 jobs as headwinds mount

Lufthansa said Monday it will cut 4,000 jobs, nearly four percent of the German airline giant's workforce, after profits slumped in the face of mounting headwinds.

Paris Olympics and Paralympics cost French state 6.6bn euros: audit body

The 2024 Paris Summer Olympics and Paralympics cost the French state 6.6 billion euros ($7.7 billion), the national audit body announced on Monday.

GSK switches CEO as Trump tariffs test pharma

British pharmaceutical giant GSK on Monday said longtime chief executive Emma Walmsley will be replaced by its chief commercial officer in January, as the company navigates US tariffs on the sector.

Most markets track Wall St gains after US inflation data

Most markets rose Monday and gold hit a record high following US inflation figures that met expectations and soothed concerns about Donald Trump's latest tariff salvo.

Germany's Lufthansa to slash 4,000 jobs by 2030

German airline group Lufthansa said Monday it will cut 4,000 jobs, nearly four percent of its workforce -- a move underscoring the slump gripping Europe's largest economy.

Most Asian markets track Wall St higher after US inflation data

Most Asian markets rose Monday, tracking gains on Wall Street, following US inflation figures that met expectations and soothed concerns about Donald Trump's latest tariff salvo.

'New chapter': Paris Fashion Week to showcase industry makeover

Shows by Saint Laurent and Weinsanto will kick off a hotly anticipated Paris Fashion Week on Monday, with a dozen brands set to showcase new creative directors following a major industry shakeup.

Embattled Australia telco giant hit by another major outage

Australian telecommunications giant Optus said Monday it had suffered a network outage that prevented calls to emergency services, just over a week after a similar interruption of service linked to four deaths.

'One Battle After Another' debuts top of N. America box office

Paul Thomas Anderson's action thriller "One Battle After Another" stormed to the top of the North American box office on its debut weekend, industry estimates showed Sunday.

Stars turn out for Armani's final collection in Milan

Hollywood stars Cate Blanchett, Glenn Close and Richard Gere turned out Sunday for the Giorgio Armani show in Milan, the final collection the Italian designer worked on before his death.

Zurich votes to ban petrol leaf blowers

Residents of Zurich voted Sunday to ban the use of petrol-fuelled leaf blowers and leaf vacuums over noise and air pollution concerns in public and private spaces.

US actress-singer Selena Gomez weds music producer Benny Blanco

American actress and singer Selena Gomez married her boyfriend, music producer Benny Blanco, in a star-studded southern California wedding ceremony on Saturday.

Zaporizhzhia nuclear plant off grid; Russia, Ukraine trade blame

The Russian-occupied Zaporizhzhia nuclear plant has been off the grid for four straight days, Ukraine and Russia said Saturday, blaming each other for attacks on power lines.

Two women die trying to cross Channel from France

Two women, both Somalis, died Saturday while trying to cross the Channel to Britain, French authorities said, adding that the body of another migrant had been found in a canal.

Trump urges Microsoft to fire ex-Biden administration official

US President Donald Trump called on Microsoft on Friday to fire its head of global affairs, Lisa Monaco, a former senior official in Democratic administrations.

More questions than answers surround Trump's TikTok deal

Lufthansa planning thousands of job cuts: sources

Lufthansa is planning to cut thousands of administrative staff as the German aviation giant seeks to reduce costs following a fall in earnings, sources close to the matter said Friday.

Tottenham reject interest in reported record £4.5bn sale

Tottenham's owners have "unequivocally rejected" an expression of interest to buy the club from American tech entrepreneur Brooklyn Earick, despite reports of a record bid for a Premier League club.

Facebook, Instagram to offer paid ad-free UK subscriptions

Meta announced Friday that Facebook and Instagram users in the UK will be able to buy ad-free subscriptions, extending a model already in place in Europe, to comply with regulation.

Stocks rise as traders weigh US inflation, Trump tariffs

Stocks climbed Friday as investors digested a new tariff blitz by US President Donald Trump and data showing a key US inflation metric rose in line with expectations.

Stocks diverge as traders weigh US inflation, Trump pharma tariff

European stocks rose Friday after losses in Asia, as traders awaited key US inflation data and digested President Donald Trump's fresh tariffs set to impact pharmaceuticals and other sectors.

Turkish Airlines inks big Boeing deal after Erdogan visits US

Turkish Airlines announced on Friday a deal to buy up to 225 Boeing jets, one day after President Recep Tayyip Erdogan made his first White House visit since 2019.

Trump announces steep new tariffs, EU claims pharmaceutical immunity

US President Donald Trump's announcement of steep new tariffs on medicines and other goods drew pushback from some allies on Friday, with the EU claiming immunity for its pharmaceutical industry under an earlier trade deal.

Poland cools on Ukrainians despite their economic success

Warsaw's central business district is booming alongside Poland's economy, but those teaching yoga and taking coffee orders in bustling premises under glass and steel office towers are often Ukrainian.

Danish airport closes again after suspected new drone sighting

A suspected drone sighting briefly shuttered a Danish airport on Friday for the second time in a few hours, after the country's prime minister said the flights were part of "hybrid attacks" that may be linked to Russia.

In India's Mumbai, the largest slum in Asia is for sale

Stencilled just above the stairs, the red mark in Mumbai's Dharavi slum is tantamount to an eviction notice for residents like Bipinkumar Padaya.

Asian markets drop as US data, new tariff threats dent sentiment

Markets retreated Friday as nagging uncertainty about the US interest rate outlook was compounded by data showing the world's biggest economy faring much better than expected and fresh tariff warnings from President Donald Trump.

Sought by luxury labels, Nigerian leather reclaims home market

Most Nigerian leather, often semi-finished, is exported to Europe and Asia and turned into luxury items bearing international brand labels, with zero trace of its origins.

Trump announces steep new tariffs, reviving trade war

US President Donald Trump announced Thursday punishing tariffs on pharmaceuticals, big-rig trucks, home renovation fixtures and furniture, reviving his global trade war.

The China Mail - Economy (English)