Fo­sun to seek IPO for leisure unit

China Daily (Canada) - - BUSINESS -

Fo­sun will seek pre-IPO fundrais­ing for its cul­ture and leisure unit which in­clude Thomas Cook and ClubMed in first half of 2017, CEO Liang Xin­jun said in a brief­ing in Hong Kong. re­ported on Tues­day. Dae­woo will found the com­pany with three Ira­nian com­pa­nies in the In­dus­trial Devel­op­ment and Ren­o­va­tion Or­ga­ni­za­tion of Iran, theN­ational Ira­nian Tanker Co, and the Is­lamic Repub­lic of Iran Ship­ping Line. rat­ings trend will be sta­ble in 2017 de­spite most coun­tries have been on a neg­a­tive foot­ing since mid-2010, though credit met­rics could weaken should fi­nan­cial mar­ket volatil­ity reap­pear, said lead­ing global rat­ings agency Stan­dard & Poor’s. It said on Wed­nes­day that the world eco­nomic per­for­mance was still weighed down by some ad­vanced economies and with un­cer­tain po­lit­i­cal de­vel­op­ments in Europe and the United States. “Anti-glob­al­iza­tion sen­ti­ments are in­creas­ing and the risk of pro­tec­tion­ist mea­sures is grow­ing,” S&P Global Rat­ings credit an­a­lyst Kim Eng Tan said in a state­ment. “This is a neg­a­tive devel­op­ment for Asia-Pa­cific, which has ben­e­fited much from global trade and in­vest­ment flows. The risk may rise fur­ther if up­com­ing elec­tions in Europe pro­duce more sur­prises,” he added. for 30.37 per­cent of al­most 2.2 mil­lion in­ter­na­tional tourists vis­it­ing the site last year. The data was com­piled by the state-run Angkor En­ter­prise, which is in charge of ticket sales at the park. It said that South Korea and the United States were the sec­ond and third largest sources of tourists re­spec­tively to the park.

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