Chinese to splash cash in London September 26, 2013 LONDON’S high-end retailers are expecting a boom in spending by Chinese customers next week, as tourists flock to the capital during Golden Week – the country’s annual October holiday. Last year, luxury stores saw an increase of 31 per cent in Chinese spending during the holiday, while during Chinese New Year in February sales rose [...]
Fly away to the fantastical mountains of St Lucia September 26, 2013 There’s a lot of local charm beyond the idyllic beaches, azure waters and postcard sunsets, says Oliver Pickup WHAT connects Superman, Amy Winehouse, Oprah Winfrey, Blackbeard and Napoléon Bonaparte? No, it’s not my ultimate dinner party guest list – although that would be some karaoke line up. The link is that they have all been [...]
Fly away to the fantastical mountains of St Lucia September 22, 2013 There’s a lot of local charm beyond the idyllic beaches, azure waters and postcard sunsets, says Oliver Pickup WHAT connects Superman, Amy Winehouse, Oprah Winfrey, Blackbeard and Napoléon Bonaparte? No, it’s not my ultimate dinner party guest list – although that would be some karaoke line up. The link is that they have all been [...]
Britons hit by £2bn tax bill for holiday season August 27, 2013 Taking a break has cost British holiday goers £2bn in tax last year, according to research by the TaxPayers' Alliance (TPA). That's a £500m increase on the same estimate in 2008. The TPA's research found that a family of six travelling to Spain would see an average tax bill of £187, while a trip to [...]
Booming tourism trade boosts Greece surplus August 19, 2013 GREECE’S booming summer tourism revenue has given a welcome boost to the cash-strapped country’s finances. Tourism, which is the country’s biggest foreign currency driver, rose 21 per cent year-on-year to €1.59bn (£1.36bn) for June, the first month of the summer holiday season. Surging visitor numbers also helped widen Greece’s current account surplus to €663m, from [...]
UK government concerned by Spanish threats over Gibraltar August 4, 2013 THE UK government has revealed its concern over remarks made by Spain’s foreign minister over Gibraltar, the disputed British territory on the southern tip of the Iberian Peninsula. Jose Manuel Garcia-Margallo said Spain will step up controls on Gibraltar following a dispute over fishing rights. In an e-mailed statement, the Foreign & Commonwealth Office in [...]
Letters to the Editor – 05/08 – Planning laws, tourist bonds, best of Twitter August 4, 2013 Planning Laws [Re: How hidden taxes and levies are pushing up UK house prices, Thursday] Alex Prince, in his letter to the editor last Thursday, implies that opposition to building developments arises exclusively from a local desire to retain green spaces. But another key reason for nimbyism is that an adjacent development will often reduce [...]
Greece has some big obstacles to clear to meet its fiscal targets and achieve primary surplus by 2014 July 29, 2013 Greece is continuing to make "overall, albeit often slow, progress" under the second economic asjustment programme, according to the European Commission's latest review of the country's economy. Although Greece has made good progress on public finances, recapitalisation of the four major banks, and several important structural reforms, there are still a number of areas that [...]
What the other papers say this morning February 25, 2013 FINANCIAL TIMES Captain Magic conjures hedge launch The glory days of the hedge fund launch may not be entirely over. Raffaele Costa, a flamboyant former GLG partner and self-styled “Captain Magic”, will this week unveil the first fund at his new firm Tyndaris, in what will be one of the boldest start-ups since 2008. Merkel [...]
UK braced for Chinese spree February 7, 2013 UK RETAILERS are braced for an increase in Chinese shoppers next week as New Year celebrations coincide with Golden Week, one of the country’s biggest holiday periods for Chinese tourists. Global Blue, the tax-free shopping services company, said its expects to see a repeat of the 30 per cent year-on-year growth in tax free sales [...]