NEWS Britain is allowing the Chinese telecom company Huawei to expand its already sizable operations with a $2 billion investment, a reception that vastly differs from the suspicion that has met the company in Washington. Eric Pfanner reports on media.
Just five years ago, the International Monetary Fund and the World Bank struggled for an identity. The entire global economy was enjoying a golden period of growth and stability and seemed unlikely to need a hand, or a handout, from either institution. Since then, in the aftermath of the global financial crisis, it has become clear that the world needs both institutions more than ever. Eswar S. Prasad reports.
After uprisings swept across North Africa and the Middle East last year, donors from around the world were quick to pledge aid to the so-called Arab Spring countries to help them reconstruct their economies.A year later, securing the pledged aid has proved difficult, and many of the recipient countries - particularly those in the midst of political transition, like Egypt - are still waiting for the promised funds to arrive. Sara Hamdan reports.
Sales in upmarket areas of the Costa del Sol are rising again, thanks primarily to bargain hunters from around the world. Nicola Venning reports from Marbella, Spain.
The Burberry Group, the British fashion house whose shares plunged last month after a profit warning sent shock waves through the luxury goods industry, sought to reassure investors Thursday with an interim report of slightly higher sales in the first half, driven by strength in several overseas markets. But sales in China, a crucial market for luxury goods, have slowed, the company said, confirming its earlier warning. Stephen Castle reports from London.
ARTS Twenty-five years ago, when the daughter of Arnold Schoenberg was working through his archive, she came across an empty picture frame. It was missing what the Schoenberg family calls one of the composer's most precious possessions: a signed picture of Gustav Mahler with a musical quotation from Mahler's Symphony No. 2. Now that picture appears to have re-emerged. Daniel J. Wakin reports.
SPORTS The Heineken European Cup rugby competition has the perfect launching pad this year when it kicks off with the Irish province Ulster entertaining the French club Castres in Belfast on Friday. The Irish team has added talent after finishing as the runner-up in the Heineken Cup final last season. Huw Richards writes from London.
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