Thomas Monaco, who helped manage FrontPoint Partners LLC’s financial services investments, is seeking to start a hedge fund focused on Asian financial stocks, said four people with knowledge of the matter.
Carnival Corp. is towing its stricken Triumph cruise ship, which suffered an engine room fire two days ago, to Mobile, Alabama, instead of to Progreso, Mexico, as passengers complain about conditions onboard.
Yu Jiang looks into the front window at his two-bedroom apartment in the center of Kangbashi, in China’s Inner Mongolia, and says he may buy another. The place has been empty for three years, as are as many as 90 percent of the units near it.
Vietnam raised interest rates for the first time in almost a year after inflation accelerated to a 19-month high last month, joining regional counterparts from Malaysia to Thailand that have raised borrowing costs this year.
Surging oil and food costs may swell budget deficits in Asia as governments spend on subsidies to keep consumer prices low and avoid inflation protests that helped topple regimes in the Middle East this year.
Yingluck Shinawatra, set to become Thailand’s first female prime minister, announced the formation of a five-party coalition to broaden the mandate she won in elections and head off concerns that violence might erupt over the fate of her exiled brother, ex-premier Thaksin Shinawatra.
Shenzhen Jufeng Handicraft Co. was so eager to ensure employees returned to work after February’s Lunar New Year holiday that it threw them a party, handed out gifts and bused workers to homes 1,000 kilometers away.