World Markets

Shopping tourists fuel record retail sales

Rising numbers of Chinese, Saudi and Brazilian retail tourists seeking heavily discounted, tax-free luxuries have contributed to soaring Boxing Day sales figures in London's West End.

Who'd be a wise man? Gold's gone through the roof, frankincense is

They journeyed from the East to pay homage to the boy king bearing gifts of gold, frankincense and myrrh. But they would struggle to complete the feat today. Times for wise men have never been tougher. Gold prices are soaring on commodity markets, myrrh crops have been hit by drought – and now frankincense could soon be no more.

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Cocoa co-operatives means guilt-free hot chocolate

Cocoa farmers on the small African island of São Tomé in the Gulf of Guinea used to struggle to make a living. They were getting a very low price as they had to sell their cocoa by the roadside to middle men.