Economy & Business

PARIS - French lawmakers voted late on Saturday to abolish domestic flights on routes than can be covered by train in under two-and-a-half hours, as the government seeks to lower carbon emissions even as the air travel industry reels from the global pandemic. ... Read More

DANANG, VIETNAM - As recently as last year, Myanmar was being touted as an attractive destination for international investors, even in the face of bad publicity over the government’s handling of the crisis in Rakhine State, where almost 1 million Rohingya residents had been massacred or driven into exile.   “While potential investors should be wary of inadvertently supporting the persecution, well-placed investments could yield rewards and spur a developing economy,” wrote the website World Finance – which bills itself as “the voice of the market” – in February 2020.   “The raw materials for a thriving investment climate are all present if businesses are willing to enter the market.”   Fourteen months and one military coup later, foreign governments and companies are scrambling to reassess their relationships with the military junta that seized power on February 1 from the democratically elected government led by Aung San Suu Kyi.   Human rights activists have mounted a pressure campaign against international companies seen as propping up the regime in Naypyitaw. In March, Burma Campaign UK published “The Dirty List,” a file detailing the role it claims certain international companies have played in assisting the military.     Especially troubling for many investors are their connections with Myanmar Economic Corporation and Myanmar Economic Holdings Public Company Limited – both controlled by the now-ruling Burmese military or Tatmadaw, which has long relied on business activities to finance its own operations.   The companies provide funds to the military through a range of enterprises, such as banking, mining, tobacco and tourism. MEHL also provides pensions for members of the Tatmadaw.... Read More

The idea of forgiving debt held by poor countries in exchange for “green” investments gained ground this week during the spring meetings of the IMF and World Bank, with concrete proposals expected in time for a global climate summit this fall.... Read More

TAIPEI - Plans by the world's largest contract chipmaker for a record $100 billion capacity expansion will just mildly dent a growing worldwide shortage of semiconductors for gear such as high-speed notebook computers, 5G smartphones and newer vehicles, tech experts believe.... Read More

WASHINGTON - South Korean battery makers LG Chem and rival SK Innovation have agreed to settle a trade secrets dispute that has threatened a key Georgia plant and the electric vehicle plans of Ford Motor and Volkswagen, three sources briefed on the matter said.... Read More

AMALFI, ITALY - For tourists planning a trip to Italy, the Amalfi Coast has been a dream destination. For decades, visitors from around the world have come to this beach resort to enjoy the view from its spectacular coastline and crystal blue waters, its picturesque towns that dot the coast, the friendliness of the locals and the exquisite food. ... Read More

WASHINGTON - New U.S. unemployment compensation claims jumped again last week, the Labor Department reported Thursday, as the recovery from the economic damage caused by the coronavirus remains a work in progress. ... Read More

Amazon.com warehouse employees in Alabama were on track to reject unionization by a 2-1 margin with almost half the votes counted in an election seen as a potential turning point for organized labor. ... Read More

WASHINGTON - The global economy is recovering faster than expected from the coronavirus pandemic, the International Monetary Fund (IMF) said Tuesday.... Read More

WASHINGTON - The World Bank and the International Monetary Fund (IMF) are planning to launch a platform to advise poor countries on funding climate and conservation activities, amid a broader push that could link such spending to debt relief, according to a draft document seen by Reuters.... Read More