Dubai airport is on its way to receiving its 1 billionth passenger

Dubai Airports owns and manages the operation and development of both of airports in the emirate — Dubai International (DXB) and Dubai World Central (DWC). But as Dubai International Airport continues to grow, it faces an increasing infrastructure challenge, leading to capacity constraints. “We are in the midst of a new master plan at the moment for 2030, which will see us boost the capacity of this airport by a further 30 million to 120 million by 2022,” Griffths said. “The newer airport, Dubai


Dubai Airports owns and manages the operation and development of both of airports in the emirate — Dubai International (DXB) and Dubai World Central (DWC). But as Dubai International Airport continues to grow, it faces an increasing infrastructure challenge, leading to capacity constraints. “We are in the midst of a new master plan at the moment for 2030, which will see us boost the capacity of this airport by a further 30 million to 120 million by 2022,” Griffths said. “The newer airport, Dubai
Dubai airport is on its way to receiving its 1 billionth passenger Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: dan murphy, -paul griffiths, ceo, dubai airports
Keywords: news, cnbc, companies, way, passenger, international, receiving, airport, billionth, passengers, hub, dubai, world, airports, million, significant, capacity


Dubai airport is on its way to receiving its 1 billionth passenger

“Not only am I very confident about the present growth of Dubai as a hub and the contribution that we make to the GDP, but I’m even more optimistic that our position will continue to strengthen for the future.”

“With 280,000 passengers a day and up to 13,000 bags flown through the hub, the concentration of not only the passenger traffic through DXB, but also the major contribution that it makes to the GDP of Dubai, is obviously incredibly significant,” he said.

Dubai Airports owns and manages the operation and development of both of airports in the emirate — Dubai International (DXB) and Dubai World Central (DWC).

But as Dubai International Airport continues to grow, it faces an increasing infrastructure challenge, leading to capacity constraints.

“We are in the midst of a new master plan at the moment for 2030, which will see us boost the capacity of this airport by a further 30 million to 120 million by 2022,” Griffths said.

“The newer airport, Dubai World Central Al Maktoum International, already has the capacity for a further 26 million passengers. So across the two airports, 146 million total airport capacity is a pretty impressive number and it will still give us the headroom for significant further growth here in Dubai,” the CEO said.


Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: dan murphy, -paul griffiths, ceo, dubai airports
Keywords: news, cnbc, companies, way, passenger, international, receiving, airport, billionth, passengers, hub, dubai, world, airports, million, significant, capacity


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US colleges attracting fewer new students from abroad

The overall number of foreign students in the U.S. still increased slightly, by 1.5 percent, fueled by growing numbers of students who stayed for temporary work after graduation. State Department officials underscored that the U.S. hosted nearly 1.1 million international students last year, more than any other country in the world. At Purdue University, one of the nation’s biggest hubs for international students, total foreign enrollment fell by 2 percent this year. Losing foreign students can c


The overall number of foreign students in the U.S. still increased slightly, by 1.5 percent, fueled by growing numbers of students who stayed for temporary work after graduation. State Department officials underscored that the U.S. hosted nearly 1.1 million international students last year, more than any other country in the world. At Purdue University, one of the nation’s biggest hubs for international students, total foreign enrollment fell by 2 percent this year. Losing foreign students can c
US colleges attracting fewer new students from abroad Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: kathryn scott osler, the denver post, getty images
Keywords: news, cnbc, companies, australia, international, number, schools, attracting, abroad, officials, fewer, colleges, students, enrollment, report, political, foreign


US colleges attracting fewer new students from abroad

The number of foreign students heading to U.S. colleges and universities fell again last year, the second straight decline after more than a decade of growth, a new report finds.

Enrollment of new international students dropped by about 7 percent in fall 2017, according to an annual report released Tuesday by the State Department and the Institute of International Education, a nonprofit research group based in New York.

The overall number of foreign students in the U.S. still increased slightly, by 1.5 percent, fueled by growing numbers of students who stayed for temporary work after graduation. But the number of newly arriving students slid to about 271,000, the lowest levels since 2013.

The report’s authors cited sharper competition from other countries including Australia and Canada, along with the rising cost of education in the U.S. They largely dismissed worries among some colleges that the White House’s policies and rhetoric surrounding immigration could be driving students away.

“We’re not hearing that students feel they can’t come here. We’re hearing that they have choices,” Allan Goodman, president and CEO of the institute, said in a call with reporters. “For the first time, we have real competition.”

But some schools contacted by The Associated Press say the political climate in the U.S. has made international students feel unwelcome, leading some to enroll elsewhere.

State Department officials underscored that the U.S. hosted nearly 1.1 million international students last year, more than any other country in the world.

Yet the 1.5 percent growth is the slowest since a period from 2002 through 2005, when international enrollment fell by 4 percent following the Sept. 11 attacks in 2001, according to data provided by the institute.

Among new students, the steepest losses came from Saudi Arabia, South Korea and Mexico, while China and India continued to send the largest numbers, accounting for more than half of all foreign students in the U.S.

The 15 percent decrease from Saudi Arabia comes a year after the kingdom scaled back a scholarship program that covered costs for Saudis studying abroad.

Although the report focuses on data from 2017, it also included preliminary findings for fall 2018. Among 540 schools surveyed, total international enrollment held level while the number of new students fell by about 2 percent, marking the third straight year of declines.

Compared to the previous year, more schools attributed decreases to challenges in the visa process, the U.S. social and political climate, and student decisions to enroll in other countries.

At the University of Central Missouri, foreign enrollment surged to 2,600 in 2016 before plummeting to just 650 this year, according to data obtained by The AP. University officials have noticed increased competition but also cite the nation’s political climate.

“We have had conversations with parents who feel like their children will not be safe here, that their son or daughter may not be physically safe,” said Karen Goos, the school’s assistant vice provost for enrollment management. “I do think that it’s a contributing factor.”

At Purdue University, one of the nation’s biggest hubs for international students, total foreign enrollment fell by 2 percent this year. Officials said they intentionally admitted fewer undergraduates from abroad amid worries that they might not accept the offer.

“There was concern that students might not find the U.S. to be as an attractive destination given certain political rhetoric these past two years,” Michael Brzezinski, Purdue’s dean of international programs, said in an email.

Losing foreign students can carry financial implications for schools that rely on them for revenue. Unlike U.S. citizens, who often get scholarships or discounts, students from abroad are typically charged full tuition.

At Central Missouri, the declines have worsened a budget hole that led to more than $20 million in cuts last year.

At the same time, some other nations have drawn surging numbers of students from abroad. Canada reported a 20 percent jump in 2017, while Australia saw a 12 percent increase. Both countries have set ambitious goals to bolster international enrollments in the coming years.

Yet officials in Australia said they shouldn’t be blamed for America’s slowdown. Phil Honeywood, CEO of the International Education Association of Australia, said pinning it on competition is “pure blame shifting,” adding that Australia hasn’t significantly changed its recruiting strategy over the past two years.

“Rather, everything we hear from prospective students and their education agents in Muslim countries and Latin American nations is that they no longer feel welcome or safe studying at U.S. colleges under President Trump,” Honeywood said in a statement.

Despite the downturn in new students, officials behind the report are optimistic that the U.S. will rebound. While foreign students account for a heavy share of the overall enrollment in Australia and other countries, they account for just 5 percent of all students in the United States.

“The U.S. has real competition,” Goodman said. “What we have going for us, though, is we have more space and capacity.”

The report also found that the number of U.S. students studying abroad ticked up by 2 percent last year, continuing eight years of slow but steady growth. Europe remained the top destination, followed by Latin America and Asia.


Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: kathryn scott osler, the denver post, getty images
Keywords: news, cnbc, companies, australia, international, number, schools, attracting, abroad, officials, fewer, colleges, students, enrollment, report, political, foreign


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Campbell’s cookie unit Arnott’s attracts attention from Kraft Heinz, Mondelez

The soup company had previously said it planned to sell its international and fresh food food businesses after a three-month review it announced after a string of poor quarterly results. Third Point has since said it would also accept other moves for Campbell, including a breakup. Food companies — including Oreo-owner Mondelez, Kraft Heinz and Ferrero, which owns Nutella — are among those eyeing the business, the people said. This will launch a formal sale process. One likely consideration in th


The soup company had previously said it planned to sell its international and fresh food food businesses after a three-month review it announced after a string of poor quarterly results. Third Point has since said it would also accept other moves for Campbell, including a breakup. Food companies — including Oreo-owner Mondelez, Kraft Heinz and Ferrero, which owns Nutella — are among those eyeing the business, the people said. This will launch a formal sale process. One likely consideration in th
Campbell’s cookie unit Arnott’s attracts attention from Kraft Heinz, Mondelez Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-09  Authors: lauren hirsch, jeff greenberg, universal images group, getty images
Keywords: news, cnbc, companies, companies, process, buy, campbells, attracts, business, heinz, point, mondelez, sale, including, international, cookie, campbell, arnotts, food, attention, unit, kraft


Campbell's cookie unit Arnott's attracts attention from Kraft Heinz, Mondelez

Campbell Soup has begun the process of selling off a number of its brands, including its Arnott’s cookie and crackers business, as it looks to pay down the debt left in the wake of its acquisition of Snyder’s Lance earlier this year, people familiar with the matter tell CNBC.

The soup company had previously said it planned to sell its international and fresh food food businesses after a three-month review it announced after a string of poor quarterly results. It said focusing on its signature packaged food would help regain its financial footing. The decision came despite pressure from activist fund Third Point, which initially said the only justifiable outcome of the review was a sale to a strategic buyer. Third Point has since said it would also accept other moves for Campbell, including a breakup.

Campbell has sent out materials to tease the sale of its Australian Arnott’s biscuits business and Kelsen baked snacks that could fetch $2.5 billion to $3 billion from buyers. The biscuit and cracker maker is the largest in Australia and has therefore caught the eye of a number food companies that are eyeing global expansion as challenged U.S. grocers continue to exert their pressure.

Food companies — including Oreo-owner Mondelez, Kraft Heinz and Ferrero, which owns Nutella — are among those eyeing the business, the people said.

Snacks have become increasingly important for food companies to buy as more and more people eat on-the-go and sales of grocery staples, like cereal, have slowed. In the U.S., though, there are few brands available to buy to move the needle for companies that generate billions in annual sales.

Arnott’s gives buyers a chance to buy a large business in an established market. Still, with Australia relatively isolated, it would also likely require a buyer with an existing global footprint and may also limit their ability to expand the brand further into other international markets like China, say people familiar with the industry.

Campbell expects to sign non-disclosure agreements for its international snack business in the next weeks, and will then begin to send out confidential materials, the people said. This will launch a formal sale process. While such processes take weeks, it remains possible a keenly interested party could expedite it by lobbing in a particularly high bid, some of the people said.

One likely consideration in the sale process is potential anti-trust issues due to Arnott’s hold on the Australian cookie market. Campbell is under pressure from activist investor Dan Loeb and his hedge fund Third Point, which have chastised it for poor performance, making it unlikely it will want to take on much risk that antitrust authorities could oppose a deal.


Company: cnbc, Activity: cnbc, Date: 2018-11-09  Authors: lauren hirsch, jeff greenberg, universal images group, getty images
Keywords: news, cnbc, companies, companies, process, buy, campbells, attracts, business, heinz, point, mondelez, sale, including, international, cookie, campbell, arnotts, food, attention, unit, kraft


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NASCAR makes offer to acquire International SpeedWay for $42 per share

NASCAR announced on Friday it offered to acquire International Speedway for $42 per share. This will combine the two companies into one private company under the France family. “In a highly competitive sports and entertainment landscape, a more unified strategic approach is important to our future growth,” said Jim France, chairman of ISC and chairman and chief executive officer of NASCAR. International Speedway has formed a special committee to consider the deal, and no decisions have been made


NASCAR announced on Friday it offered to acquire International Speedway for $42 per share. This will combine the two companies into one private company under the France family. “In a highly competitive sports and entertainment landscape, a more unified strategic approach is important to our future growth,” said Jim France, chairman of ISC and chairman and chief executive officer of NASCAR. International Speedway has formed a special committee to consider the deal, and no decisions have been made
NASCAR makes offer to acquire International SpeedWay for $42 per share Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-09  Authors: waverly colville, source, nascar racing experience
Keywords: news, cnbc, companies, acquire, viewership, company, france, deal, wall, nascar, offer, international, vegas, unified, speedway, share, makes, 42, chairman


NASCAR makes offer to acquire International SpeedWay for $42 per share

NASCAR announced on Friday it offered to acquire International Speedway for $42 per share. This will combine the two companies into one private company under the France family.

“In a highly competitive sports and entertainment landscape, a more unified strategic approach is important to our future growth,” said Jim France, chairman of ISC and chairman and chief executive officer of NASCAR. “We believe the industry requires structural changes to best position the sport for long term success and this offer represents a positive step forward in that direction.”

International Speedway has formed a special committee to consider the deal, and no decisions have been made yet. Shares were up nearly 3 percent in after-hours trading Friday.

NASCAR has been having troubles these past few years. Sponsors are the majority of NASCAR’s income, and Target ended its deal after 16 years with NASCAR, for example. The Wall Street Journal reported that TV viewership has been down 45 percent since its peak in 2005. The company also built new tracks in Las Vegas and Southern California while shutting down some of its speedways in the South, where a lot of fans come from.


Company: cnbc, Activity: cnbc, Date: 2018-11-09  Authors: waverly colville, source, nascar racing experience
Keywords: news, cnbc, companies, acquire, viewership, company, france, deal, wall, nascar, offer, international, vegas, unified, speedway, share, makes, 42, chairman


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China and India will lead the world’s nuclear power growth, experts say

India and China are set to drive the world’s nuclear power production growth as the two developing nations — among the top consumers of energy in the world — pursue their respective national nuclear energy programs. According to the International Energy Agency, nuclear power production will grow by about 46 percent by 2040 — and more than 90 percent of the net increase will come from China and India. Global nuclear electricity output grew 1 percent in 2017, as the world’s nuclear fleet generated


India and China are set to drive the world’s nuclear power production growth as the two developing nations — among the top consumers of energy in the world — pursue their respective national nuclear energy programs. According to the International Energy Agency, nuclear power production will grow by about 46 percent by 2040 — and more than 90 percent of the net increase will come from China and India. Global nuclear electricity output grew 1 percent in 2017, as the world’s nuclear fleet generated
China and India will lead the world’s nuclear power growth, experts say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: melissa goh, lin shanchuan, xinhua news agency, getty images
Keywords: news, cnbc, companies, nuclear, power, india, international, production, lead, world, growth, energy, report, china, experts, worlds, say


China and India will lead the world's nuclear power growth, experts say

India and China are set to drive the world’s nuclear power production growth as the two developing nations — among the top consumers of energy in the world — pursue their respective national nuclear energy programs.

According to the International Energy Agency, nuclear power production will grow by about 46 percent by 2040 — and more than 90 percent of the net increase will come from China and India.

Global nuclear electricity output grew 1 percent in 2017, as the world’s nuclear fleet generated 2,503 terawatt-hours (TWh) of electricity, according to the World Nuclear Industry Status Report 2018.

Take China out of the picture, however, and the reality looks starkly different: Global nuclear power generation would have declined for a third consecutive year, the report showed.

Asia, for its part, saw 8 to 9 percent growth in nuclear capacity last year, Agneta Rising, the director general of the World Nuclear Association, told CNBC at the Singapore International Energy Week conference last week.

“(The) largest growth in nuclear energy is in the Asia region, especially in China and India,” she said, adding that nuclear power is “absolutely compatible” and “necessary” for a low carbon future.


Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: melissa goh, lin shanchuan, xinhua news agency, getty images
Keywords: news, cnbc, companies, nuclear, power, india, international, production, lead, world, growth, energy, report, china, experts, worlds, say


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China puts on a big show, but not everyone is buying its trade message

SHANGHAI, China — China’s largest city rolled out the red carpet this week to help President Xi Jinping try to show other nations how serious his country is about becoming their best customer. By official figures, more than 400,000 buyers — including representatives from nearly all of China’s state-owned enterprises — had the chance to meet with more than 3,600 businesses from 172 countries at the China International Import Expo. To welcome the businesses, a handful of international state leader


SHANGHAI, China — China’s largest city rolled out the red carpet this week to help President Xi Jinping try to show other nations how serious his country is about becoming their best customer. By official figures, more than 400,000 buyers — including representatives from nearly all of China’s state-owned enterprises — had the chance to meet with more than 3,600 businesses from 172 countries at the China International Import Expo. To welcome the businesses, a handful of international state leader
China puts on a big show, but not everyone is buying its trade message Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-07  Authors: evelyn cheng
Keywords: news, cnbc, companies, big, puts, expo, shanghai, country, message, trade, xi, import, buying, international, president, china, chinas, town


China puts on a big show, but not everyone is buying its trade message

SHANGHAI, China — China’s largest city rolled out the red carpet this week to help President Xi Jinping try to show other nations how serious his country is about becoming their best customer.

By official figures, more than 400,000 buyers — including representatives from nearly all of China’s state-owned enterprises — had the chance to meet with more than 3,600 businesses from 172 countries at the China International Import Expo. Johnson and Johnson, Honeywell, General Motors and Google were among the nearly 180 American companies reportedly attending.

To welcome the businesses, a handful of international state leaders and the Chinese president, Shanghai lit up its buildings across town on Sunday night. Roads shut down, local schools and government offices closed for two days and tech giant Didi partially suspended its ride-hailing service. Roughly 300 students from the local prestigious colleges volunteered to direct visitors around a four-leaf clover exhibition space the size of at least 55 football fields near Shanghai’s Hongqiao Airport on the western edge of town. An army of security officers hovered the grounds, and sometimes made guests walk through gated entrances with roughly 30 turns.

Of the Communist government’s many goals for the import expo — billed as the first of many — “one is to increase China’s prestige as a market, as a global leader in international commerce,” said Craig Allen, president of the U.S.-China Business Council.

“I think it probably has been pretty successful at that,” he said.

But as for Xi’s stated aim of turning China into a global market importer, “a trade show is probably not particularly relevant,” Allen said. Rather, he said, “the real test is whether or not the policy measures articulated by President Xi will be implemented in the near term.”

Xi kicked off the expo on Monday with a speech that mostly reiterated past promises to further open up the world’s second-largest economy to foreign players.

As his country faces rising tensions with its largest trading partner, Xi pledged greater punishments for intellectual property theft — a point of contention with the Trump administration. The Chinese leader who this year abolished presidential term limits also said his country will further lower import tariffs and speed up the opening of sectors such as education and culture.

Those are moves in the direction the West would like to see, but not enough.

“What matters to us is that concrete actions are forthcoming and that reforms are clearly timetabled,” Carlo D’Andrea, vice president of the European Union Chamber of Commerce in China and chairman of the Shanghai Chapter, said in a statement. “If China really will continue to open up, we would have expected additional and specific commitments to have been announced by President Xi (on Monday).”


Company: cnbc, Activity: cnbc, Date: 2018-11-07  Authors: evelyn cheng
Keywords: news, cnbc, companies, big, puts, expo, shanghai, country, message, trade, xi, import, buying, international, president, china, chinas, town


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China’s Xi again talks up commitment to ‘free trade’

The reform of the global governance system and the international order is picking up speed,” Xi said during his speech from the China International Import Expo. “On the other hand, the world economy is going through profound adjustment and protectionism and unilateralism are resurging. In fact, he said, this week’s expo “demonstrates China’s consistent position of supporting the multilateral trading system and promoting free trade. It is a concrete action taken by China to advance an open world


The reform of the global governance system and the international order is picking up speed,” Xi said during his speech from the China International Import Expo. “On the other hand, the world economy is going through profound adjustment and protectionism and unilateralism are resurging. In fact, he said, this week’s expo “demonstrates China’s consistent position of supporting the multilateral trading system and promoting free trade. It is a concrete action taken by China to advance an open world
China’s Xi again talks up commitment to ‘free trade’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-05  Authors: evelyn cheng, everett rosenfeld, lintao zhang, pool
Keywords: news, cnbc, companies, world, trump, economy, china, trade, xi, major, foreign, expo, international, commitment, talks, free, chinas


China's Xi again talks up commitment to 'free trade'

SHANGHAI, China — For the third time since U.S. President Donald Trump was elected, Chinese President Xi Jinping took to the global stage to repeat his rhetoric against protectionism and promote his country as an advocate for international openness and cooperation.

While China has made some progress on opening up its economy to foreign companies, critics say the pace is still too slow and many of Xi’s announcements have been in the works for some time. In fact, China’s attempts to position itself as a champion of globalization fly in the face of its status as one of the most protectionist major nations.

Despite that, Xi discussed at length during his highly anticipated Monday address about the benefits of an open international economy,

“The economic and social well-being of countries in the world is increasingly interconnected. The reform of the global governance system and the international order is picking up speed,” Xi said during his speech from the China International Import Expo. “On the other hand, the world economy is going through profound adjustment and protectionism and unilateralism are resurging. Economic globalization faces headwinds, and multilateralism and the system of free trade are under threat.”

To face those headwinds, Xi presented his country as one pursuing “a new round of high-standard opening up” and intent on widening “its market access to the rest of the world.” In fact, he said, this week’s expo “demonstrates China’s consistent position of supporting the multilateral trading system and promoting free trade. It is a concrete action taken by China to advance an open world economy and support economic globalization.”

The Chinese leader said his country will seek to stimulate the potential for increased imports and will further lower import tariffs. He also pledged that China will speed up the opening of its education, telecommunications and cultural sectors. As it now stands, Asia’s largest economy maintains extensive barriers for foreign firms looking to conduct business in those areas.

The speech also briefly addressed the issue of intellectual property theft, which has been a chief complaint foreign firms have had about China. Xi pledged to “enhance” the punishments for such actions to “significantly raise the cost for offenders.”

Xi also acknowledged that parts of China’s economy are facing challenges and uncertainty right now, but said the government is working quickly to address those issues and has improved in its overall ability to manage macroeconomic growth.

The Monday speech comes less than 48 hours before the midterm elections in the U.S., which the world is watching for signs about whether the Trump administration can maintain its policy momentum. The Tuesday contests could also hold implications for Washington’s foreign relations as trade tensions between the world’s two largest economies have escalated.

Last week, major stock indexes rose amid renewed hope that Trump and Xi were moving closer to an agreement on trade. White House officials later pushed back on the idea of an imminent deal, however. The two leaders are set to meet later this month at the G-20 summit in Argentina.

In the meantime, China is promoting itself to the world as a major buyer of goods with the week-long China International Import Expo. More than 3,600 enterprises have signed up for the expo and 172 countries and regions will participate, according to the event’s website.

Beijing has named 12 countries as “Guests of Honor” for the expo: Russia, Canada, the U.K., Germany, Mexico, Brazil, Egypt, Hungary, Indonesia, Pakistan, South Africa and Vietnam. Christine Lagarde, managing director of the International Monetary Fund, tweeted Sunday she is looking forward to participating in the expo in Shanghai.

However, many major Western nations are generally less enthusiastic. None appeared on a list of 18 heads of state who are set to attend the expo at Xi’s invitation, according to China’s Ministry of Foreign Affairs. While the expo said 180 U.S. firms have signed up, the Trump administration is reportedly not sending senior government officials.

—Reuters and CNBC’s Huileng Tan contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-11-05  Authors: evelyn cheng, everett rosenfeld, lintao zhang, pool
Keywords: news, cnbc, companies, world, trump, economy, china, trade, xi, major, foreign, expo, international, commitment, talks, free, chinas


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Asia markets fall; Xi speech tries to position China as globalization champion

Asia Pacific markets traded lower on Monday as investors remained cautious over global growth prospects while Chinese President Xi Jinping tried to position China as a globalization champion in a major speech. Xi’s opening speech kicked off the week-long China International Import Expo that seeks to promote the world’s second largest economy as a major consumer of global goods. During the speech, Xi repeated his rhetoric against protectionism and promoted his country as an advocate for internati


Asia Pacific markets traded lower on Monday as investors remained cautious over global growth prospects while Chinese President Xi Jinping tried to position China as a globalization champion in a major speech. Xi’s opening speech kicked off the week-long China International Import Expo that seeks to promote the world’s second largest economy as a major consumer of global goods. During the speech, Xi repeated his rhetoric against protectionism and promoted his country as an advocate for internati
Asia markets fall; Xi speech tries to position China as globalization champion Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-05  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, speech, fall, international, tried, markets, champion, globalization, china, xi, tariffs, products, trade, opening, chinese, position, asia, tries


Asia markets fall; Xi speech tries to position China as globalization champion

Asia Pacific markets traded lower on Monday as investors remained cautious over global growth prospects while Chinese President Xi Jinping tried to position China as a globalization champion in a major speech.

Xi’s opening speech kicked off the week-long China International Import Expo that seeks to promote the world’s second largest economy as a major consumer of global goods. The event, announced more than a year ago, will stand in contrast to the ongoing trade fight between Beijing and Washington.

During the speech, Xi repeated his rhetoric against protectionism and promoted his country as an advocate for international openness and cooperation. He discussed at length about the benefits of an open international economy and said that China is pursuing “a new round of high-standard opening up” to broaden market access to the rest of the world.

The United States has levied tariffs on an extensive list of Chinese products. Beijing, for its part, unsuccessfully tried to negotiate on tariffs by offering to buy more U.S. goods, but ultimately responded with duties on products from the U.S.

The impact of the ongoing trade war is being felt as companies report higher production costs and trim outlook. On Friday, Chinese tech giant Alibaba lowered its full-year sales forecast, citing concerns about the economic impact of the trade war.

Xi’s speech at the expo comes a day before Americans head to the polls for midterm elections.


Company: cnbc, Activity: cnbc, Date: 2018-11-05  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, speech, fall, international, tried, markets, champion, globalization, china, xi, tariffs, products, trade, opening, chinese, position, asia, tries


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Political turmoil could test Sri Lanka’s ties with international community

International concerns about Sri Lanka’s ongoing political crisis are growing, pushing major powers to take action. “Countries are sensitive … democratic countries have concerns,” Reuters quoted Wickremesinghe as saying with regard to his dismissal. More than a week after President Maithripala Sirisena replaced Wickremesinghe with former president Mahinda Rajapaksa, Colombo remains in a political deadlock. Wickremesinghe, who called the move illegal, refused to leave his post, essentially leav


International concerns about Sri Lanka’s ongoing political crisis are growing, pushing major powers to take action. “Countries are sensitive … democratic countries have concerns,” Reuters quoted Wickremesinghe as saying with regard to his dismissal. More than a week after President Maithripala Sirisena replaced Wickremesinghe with former president Mahinda Rajapaksa, Colombo remains in a political deadlock. Wickremesinghe, who called the move illegal, refused to leave his post, essentially leav
Political turmoil could test Sri Lanka’s ties with international community Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-05  Authors: nyshka chandran, lakruwan wanniarachchi afp getty images
Keywords: news, cnbc, companies, turmoil, rajapaksa, week, test, sri, parliament, international, political, wickremesinghe, lankas, minister, majority, ties, prime, community, president


Political turmoil could test Sri Lanka's ties with international community

International concerns about Sri Lanka’s ongoing political crisis are growing, pushing major powers to take action.

Nearly $500 million in U.S. aid and a Japanese loan of $1.4 billion have both been put on hold amid fears about the state of democracy in Sri Lanka, the country’s ousted Prime Minister Ranil Wickremesinghe told Reuters over the weekend.

That came after the European Union said last week that it may revoke Colombo’s trade privileges if the government doesn’t continue progress on human rights and Sinhalese-Tamil reconciliation. Strife between the country’s two major ethnic groups — the majority Sinhalese and minority Tamils — underlined a brutal civil war that lasted from 1983 to 2009.

“Countries are sensitive … democratic countries have concerns,” Reuters quoted Wickremesinghe as saying with regard to his dismissal.

More than a week after President Maithripala Sirisena replaced Wickremesinghe with former president Mahinda Rajapaksa, Colombo remains in a political deadlock. Wickremesinghe, who called the move illegal, refused to leave his post, essentially leaving the country with two prime ministers.

After a period of forced recess, parliament is now due to reconvene Monday. That means members of parliament will be able to hold a confidence vote on Rajapaksa but many fear the decision could be rigged amid potential attempts to intimidate and bribe officials. Speaker of the Parliament Karu Jayasuriya announced Monday that Rajapaksa would not be accepted as the new prime minister until he proves he commands a majority in parliament, Reuters reported.


Company: cnbc, Activity: cnbc, Date: 2018-11-05  Authors: nyshka chandran, lakruwan wanniarachchi afp getty images
Keywords: news, cnbc, companies, turmoil, rajapaksa, week, test, sri, parliament, international, political, wickremesinghe, lankas, minister, majority, ties, prime, community, president


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Icelandair buys WOW to strengthen international presence

Icelandair has agreed to buy rival Icelandic airline WOW air from its founder for about $18 million in an all-share deal aimed at creating a stronger international competitor. Airlines are looking to consolidate in many markets as a result of rising running costs, largely to higher oil prices, and increased competition from low-cost, budget carriers. Icelandair shares jumped by nearly 50 percent after it announced the WOW takeover, the biggest one day percentage gain in its stock price since Sep


Icelandair has agreed to buy rival Icelandic airline WOW air from its founder for about $18 million in an all-share deal aimed at creating a stronger international competitor. Airlines are looking to consolidate in many markets as a result of rising running costs, largely to higher oil prices, and increased competition from low-cost, budget carriers. Icelandair shares jumped by nearly 50 percent after it announced the WOW takeover, the biggest one day percentage gain in its stock price since Sep
Icelandair buys WOW to strengthen international presence Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-05  Authors: joel saget, afp, getty images
Keywords: news, cnbc, companies, deal, prices, price, buys, air, presence, oil, strengthen, icelandair, international, wow, airline, share, shares


Icelandair buys WOW to strengthen international presence

Icelandair has agreed to buy rival Icelandic airline WOW air from its founder for about $18 million in an all-share deal aimed at creating a stronger international competitor.

Airlines are looking to consolidate in many markets as a result of rising running costs, largely to higher oil prices, and increased competition from low-cost, budget carriers.

WOW has focused on low-cost travel across the Atlantic, using smaller single-aisle planes to fly between Iceland and destinations in the United States and Europe.

While there has been some consolidation in Europe over the last year, with Lufthansa and easyJet acquiring parts of failed airline Air Berlin in 2017, the chief executives of the continents biggest airline groups say more is to come.

Struggling Italian carrier Alitalia is seeking new investors and British Airways-owner IAG bought a stake in Norwegian Air with a view to a takeover.

A jump in the oil price could spur more consolidation, as weaker players are likely to suffer over the winter period as costs rise during a period when fewer people tend to fly.

Both Icelandic airlines, which Icelandair said would continue to operate under separate brands, use Keflavik Airport as their main hub between Europe and North America.

Together they have a combined 3.8 percent share of the transatlantic market, Icelandair, which warned on profit in July due to an increase in capacity on some routes across the Atlantic, added in a statement.

Icelandair shares jumped by nearly 50 percent after it announced the WOW takeover, the biggest one day percentage gain in its stock price since September 2009. The headline value of its offer for WOW was based on Friday’s closing share price.

“WOW air has been Icelandair’s main competitor and the acquisition is likely to lead to increase in average fares and better capacity control on the market to and from Iceland.” Arion Banki analyst Elvar Ingi Moller said.

WOW’s founder and sole owner Skuli Mogensen, who will receive 272 million shares in Icelandair, said that the deal will strengthen its international competitiveness.

Moller said WOW, which has 14 Airbus A320 family aircraft and three widebody A330 planes, has come under pressure due to higher oil prices and lower air fares in recent months.

Icelandair said its shareholders are due to meet to vote on the deal in the near future.

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Company: cnbc, Activity: cnbc, Date: 2018-11-05  Authors: joel saget, afp, getty images
Keywords: news, cnbc, companies, deal, prices, price, buys, air, presence, oil, strengthen, icelandair, international, wow, airline, share, shares


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