Russia's economy showed signs of recovery in the first and second quarters amid a declining dependence on oil, Russian Deputy Prime Minister Arkady Dvorkovich said.
The nation's ongoing austerity and anti-graft campaign has taken a bite out of the sale of luxury liquors, but a middle class surging in size and with an increasingly mature palate is developing a taste for spirits.
As the anti-corruption campaign and austerity policies continue in China, sales of imported spirits are slumping. However, Western spirits producers remain optimistic about the future of the market, and are shifting their focus from high-end drinkers to young Chinese born after 1980 and the country's growing middle class.
Although the cognac market in China remains weak due to the ongoing austerity campaign, LVMH-owned Hennessey chose China's southern city Guangzhou as the first stop of a global tour to celebrate its 250th anniversary, hoping to tap into the country's expanding middle class.
Bartender Zhang Chi stands behind a bar counter and pours rum and other ingredients into a shaker. After mixing the cocktail, he begins working on another drink for guests.
The China final of the Bacardi Legacy Global Cocktail Competition was held recently at Imperial Ancestral Temple of the Forbidden City in Beijing. The iconic landmark witnessed the first female winner of the competition, Chen Shibei from Speaklow Bar in Shanghai (see picture above).
Japan resumes place as largest US creditor, but China likely to favor dollar assets again
The luxury-goods sector is set for a revival despite the government's campaigns against official extravagance and corruption, as more individual consumers develop a taste for the finer things in life, a government think tank said on Thursday.
CSR Corp has won contracts to supply Ningbo, Zhejiang province, with 1,200 of its "supercapacitor" trolleybuses - a zero-pollution vehicle that features the company's latest charging technology.
China will set up a pavilion at the World Expo 2015 in Milan that runs from May to October to further promote its business connections in sectors including agriculture, travel, culture and finance.
Nuclear energy plans got a further boost in China after the government decided to fast track more such projects and gave the final nod for the fifth and sixth units of the Fuqing nuclear power plant on Wednesday.
UK bond investors have bigger concerns than who wins the election on May 7, with the past five years showing that central bankers, not politicians, hold power for financial markets.
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