Honolulu, Hawaii (CNN) – Under the fiery orange of a setting Hawaiian sun, with bright green palm fronds framing his television shot, U.S. President Barack Obama reaffirmed for one last time the message he’s pushed all weekend during this year’s APEC summit: the U.S. sees its future in Asia and is here to stay.
“No region will do more to shape our long-term economic future than the Asia-Pacific.”
As the world’s fastest growing region accounting for more than half of the world’s total GDP, Mr. Obama further stressed Asia is key to his administration goal of doubling U.S. exports. And in a clear pivot for his domestic constituents, he added that more trade means more jobs for Americans.
(CNN) - The “King of Good Times” is facing some grim times at the moment.
Airline group chief and billionaire business tycoon, Vijay Mallya is struggling to keep India’s Kingfisher Airlines afloat due to surging fuel costs and fuel taxes.
In the past week, the Bangalore-based carrier has cancelled 200 flights in hopes to reduce its debt from Rs. 6,500 crore (about $1.4 billion) to Rs. 3,000 crore ($600 million). Kingfisher has suffered a loss of Rs.1027 crores ($200 million) in the past fiscal year, adding to its mounting debt.
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