ECB's Stournaras Sees June Rate Cut and Then Pause: Kathimerini
European Central Bank Governing Council members Yannis Stournaras and Olli Rehn anticipate a further reduction in the central lender's rates in June.
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Boeing CEO Ortberg Cancels Paris Airshow Trip After India Crash
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Forbes
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Frankfurt Brings 64 Retail Units To New Terminal Including Boss, Montblanc And Gatezero
Frankfurt Airport's T3 shopping offer is built around a marketplace. Fraport, the listed operator of Frankfurt Airport, has disclosed more information about the 129,000 square feet of retail space it will open in April 2026 at its new Terminal 3, where construction is now almost finished. In January this year, Fraport announced the two winners of its food and beverage (F&B) tenders, and now the concessionaires for the 64 retail and service units at T3 have also been revealed. Anke Giesen, responsible for retail and real estate at the airport and part of Fraport's executive board, said that when developing the shopping offer, target groups including airport employees, as well as passengers, were top of mind. She added: 'We're working with our concessionaires to create amazing concepts—this is our retail vision and we're going to continue implementing it in an architecturally spectacular setting in Terminal 3.' Compared to the existing two terminals, the low-lying exterior profile of T3 has some similarities. However, regular users of Germany's busiest hub, home to Lufthansa, will see a welcome change in the interior design with a spacious-looking marketplace at its center, very different from the cramped older terminals. The marketplace has a total of 15 retail outlets surrounding it with a bar and two food courts that can seat nearly 1,000 people beneath a futuristically designed drop ceiling designed by architect Christoph Mäckler. The space is a relaxation zone, a calming space that might encourage people to de-stress enough to go shopping. T3 is expected to have a large share of international transit passengers and Frankfurt Airport Retail (FAR), a joint venture between Fraport and global travel retailer Gebr. Heinemann, will be focused on driving sales from this segment. The JV operates the existing large duty-free department store-style stores at the airport. With the opening of T3, they will increase from four to a total of 23 and cover more than 32,000 square feet. Heinemann has been operating at Frankfurt for over 50 years, and it is the retailer's fourth biggest airport sales location after Istanbul, Tel Aviv, and Oslo (in order). T3 will take the FAR joint venture to a new level. Central to that will be the main duty-free shop, which alone will cover 18,600 square feet. Gatezero will debut in the German airport market at Frankfurt T3 next year. 'The aim is to create an unforgettable shopping experience, reflected in all areas from the architecture to the assortment, to the demeanor of the staff,' said Heinemann's sales director for Western Europe, Tobias Bechinger. As well as the key categories of beauty, spirits/wine, confectionery, tobacco, toys, and sunglasses, highlights will include a dedicated area for luxury niche fragrances; a new cross-category, multi-sensory concept; and a Habanos specialist humidor for fine cigars. FAR will also operate the Boss and Montblanc stores in the new terminal, as well as other branded units. In addition, it is bringing Gatezero, a fashion-forward airport retail format first launched at Switzerland's Zurich Airport in 2021, to Frankfurt. The concept from uber-cool Highsnobiety—majority owned by online retailer Zalando since 2022—also opened in Copenhagen Airport in 2022. T3 will mark Gatezero's debut at a German airport and will offer younger travelers the latest trends in luxury and street culture, with assortments ranging from fashion and accessories to tech and gadgets. Giesen said: 'We have a long history of cultivating close, trusting cooperation with our concessionaires, supporting and promoting the evolution of their business models by jointly developing ideas, also in challenging times. This approach pays off, which is evident in the fact that so many well-known brands have renewed their commitment to our location.' Some of those businesses include Capi Electronics, which will inaugurate two more shops in T3; jewelry and watches retailer Christ; Falke, a German stockings and apparel brand; as well as international names like Sunglass Hut, Tumi, and Longchamp, that are well established at the airport. Victoria's Secret, which, last year, hired Hillary Super, former CEO of Rihanna's Savage x Fenty brand, to revive the struggling brand, has made a comeback at Frankfurt. Its store, operated by a German business of Turkish travel retailer Setur, will sell an exclusive selection of lingerie, plus fragrances, body care, and accessories. Germany's Selection is a modern souvenir store concept. To cater for passengers wanting souvenirs, the shops Germany On My Mind and Germany's Selection, both part of the Wöllhaf Group, will sell well-known German products, including wall clocks and beer tankards. Giesen commented: 'In the new T3, we're going to showcase modern interpretations of what's 'typically German' and 'typically European'. We're at home here: at the heart of Hesse, Germany, and Europe. And we're actively emphasizing this.' Frankfurt Airport does indeed lie in the heart of Europe, but the gateway has stalled somewhat since the pandemic. According to global airport association, ACI, Frankfurt has retained its eighth-place ranking among the world's busiest international airports between 2019 and 2024. However, last year's 56.2 million passenger throughput was 11% down versus 2019, making it the worst-performing airport among Europe's big air hubs.
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World's Top Carry Trade Renews Debate Over Hong Kong Dollar Peg
An unprecedented disconnect between Hong Kong and US interest rates is fueling the world's top-performing carry trade — and stoking a fresh debate about the long-term appeal of the city's pegged exchange rate. Hong Kong's currency has slumped in recent weeks toward the weak end of its official trading band against the greenback, after local interest rates fell to a three-year low and widened the discount to their US peers to rarely seen levels. This has fueled demand to use the Hong Kong dollar to invest in the higher-yielding US currency, turning the bet into the world's most rewarding carry trade over the past month by one measure.
