02132016Sat
Last update: Sat, 13 Feb 2016 08pm

Global Business & Economy

World - Global Business & Economy

Portugal Q4 growth weaker than expected, 0.2pc q/q LISBON: Portugal's economy expanded a weaker-than-expected 0.2 percent in the fourth quarter, driven by exports, after zero growth in the preceding three month period, to end 2015 1.5 percent higher, official data showed on Friday. In its flash estimate, the National Statistics Institute (INE) also said that compared to the same period of 2014, the economy expanded 1.2 percent, below the average forecast of 1.4 percent in a Reuters poll of economists. In the third quarter the economy grew 1.4 percent year-on-year. The average estimate for quarter-on-quarter growth was 0.4 percent. Despite the weaker growth in the quarter, the full-year expansion came in line with the market's and government's expectations and marks an acceleration from 0.9 percent in 2014, which was the first year of growth after a long recession. The INE said a drop in domestic demand and investment weighed on quarterly GDP, while exports of goods and services ...

World - Global Business & Economy

Romania flash Q4 GDP up 3.7pc y/y, a touch below expectations BUCHAREST: Romania's economy grew 3.7 percent on the year in the fourth quarter of 2015, slightly below market expectations, a flash estimate from the national statistics board showed on Friday. Analysts polled by Reuters expected the economy to rise 3.8 percent on the year. On a quarterly basis, gross domestic product advanced 1.1 percent in seasonally adjusted terms, data showed. The national statistics board revised third-quarter GDP up to 1.5 percent quarter-on-quarter from 1.4 percent ...

World - Global Business & Economy

Japan Post exec: may review investment portfolio next financial year TOKYO: Japan Post Holdings Co said on Friday it could review the investment portfolios of its banking and insurance units next financial year due to the Bank of Japan's negative interest rate policy. "This financial year, there's not going to be much in the way of an impact on earnings but if the situation continues then there will be an impact, not just on us but for all financial institutions," Noboru Ichikura, a Japan Post ...

World - Global Business & Economy

Russia'a annual inflation seen at 8.3-8.7pc in Feb MOSCOW: Russian annual inflation in February will be 8.3-8.7 percent, the central bank said in a statement on its website on Friday. The bank said inflationary risks remain high amid economic uncertainty. Trade sanctions on Turkey did not have a negative impact on prices, the bank said. Copyright Reuters, 2016 ...

World - Global Business & Economy

German inflation picks up tentatively in January: data FRANKFURT: Higher costs for food, services and rents pushed consumer prices in Germany, Europe's biggest economy, up by 0.5 percent in January, official data showed on Friday. Confirming a preliminary flash estimate published at the end of January, the federal statistics office calculated that Germany's national inflation yardstick, the consumer price index, rose by 0.5 percent this month, after edging up 0.3 percent in December. And using the Harmonised Index of Consumer Prices (HICP) -- ...

World - Global Business & Economy

Indonesia seen posting $360mn deficit in January JAKARTA: Indonesia is expected to post a trade deficit for the third month running in January, with both exports and imports likely to fall further, a Reuters poll of 11 economists showed on Friday. The median estimate was for a deficit of about $360 million in January, widening from December's $230 million deficit. Exports in January were seen dropping 15.40 percent from a year earlier, while imports seen were down 8.14 percent. At least the ...

World - Global Business & Economy

German retail giant Metro says sales up in Q1 FRANKFURT: German retail giant Metro said Thursday that profits rose strongly in the first quarter, helped by strong Christmas business and gains from divestments.Metro, which runs its business year from October to September, said in a statement that bottom-line net profit rose by 36 percent to 549 million euros ($620 million) in the three months to December.Underlying or operating profit jumped by 42 percent to 1.2 billion euros, while sales slipped by 1.3 percent to ...