This year’s development summits have many mountains to climb

The central goal of the 2015 summits is to chart a course towards the eradication of extreme poverty, more equitable globalisation, and climate stability, writes Kevin Watkins

Gérard Depardieu launches luxury watch in Russia amid economic turmoil

French actor and Russian citizen says luxury depends on ‘spiritual strength’, not rouble, at launch for £10,000 watch called ‘Proud to Be Russian’

Why global recovery could depend on China’s taste for luxury

Attitudes are changing in China, but western export hopes are pinned on a swelling middle class embracing its inner consumer

China’s top hotels shed stars to woo austerity-hit customers

More than 50 of country’s five-star establishments want to downgrade to attract officials forced to shun the high life