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Last update: Thu, 08 Dec 2016 12pm

Global Business & Economy

World - Global Business & Economy

Eurozone inflation hits 31-month high of 0.6pc in November BRUSSELS: Eurozone inflation rose to a two-and-half year high in November as Europe moved further away from the low consumer prices that have put a fragile economic recovery under threat.The Eurostat statistics agency on Wednesday said consumer prices in the 19-country currency bloc rose by 0.6 percent this month, the first time it has hit that level since April 2014. Copyright AFP (Agence France-Presse), 2016 ...

World - Global Business & Economy

Brazil BRASILIA: Brazil's gross domestic product shrank 0.8 percent in the third quarter from the second after seasonal adjustments, statistics agency IBGE said on Wednesday, in line with the median expectation of 37 economists in a Reuters poll.  Brazil's economy shrank 2.9 percent from the third quarter of 2015, IBGE said.  <Center><b><i>Copyright Reuters, 2016</b></i><br></center> ...

World - Global Business & Economy

Portugal Q3 growth accelerates to 0.8pc on exports LISBON: Portugal's economy grew 0.8 percent in July-September from the preceding three-month period driven by exports, the National Statistics Institute said in its second reading of quarterly gross domestic product, confirming an acceleration.  The institute said that compared to the same period of 2015, the economy expanded 1.6 percent, also in line with its flash estimate reported initially on Nov. 15.The quarter-on-quarter change is much higher than 0.3 percent growth registered in the second quarter.Domestic demand ebbed 0.4 percent from the previous ...

World - Global Business & Economy

Qatar emir pledges $1.25bn to support Tunisia economy  TUNIS: Qatar will provide Tunisia with a package worth $1.25 billion (1.18 billion euros) to boost its economy, the Gulf state TUNIS: Qatar will provide Tunisia with a package worth $1.25 billion (1.18 billion euros) to boost its economy, the Gulf state's emir told an investment conference in Tunis on Tuesday. "I am happy to announce that the state of Qatar will direct the sum of $1.25 billion to support the Tunisian economy and strengthen its process of development," said Sheikh Tamim bin Hamad Al-Thani.   <Center><b><i>Copyright AFP (Agence France-Presse), 2010</b></i></center>  TUNIS: Qatar will provide Tunisia with a package worth $1.25 billion (1.18 billion euros) to boost ...

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Spanish economy to maintain growth rate in fourth quarter MADRID: Spain's economy is expected to continue growing in the fourth quarter at a similar rate to previous quarters this year which have averaged year-on-year growth of 3.3 percent, Economy Minister Luis de Guindos said on Monday.The Spanish economy grew at 0.7 percent in the third quarter on a quarterly basis, final data showed last Thursday. The government's official forecast for growth in 2016 is 3.2 percent. "We expect that the fourth quarter this year ...

World - Global Business & Economy

Portugal places 1.5bn euros of bonds on strong retail demand LISBON: Portugal placed 1.5 billion euros ($1.59 billion) in five-year bonds, three times the initial offer, after demand from retail investors based in the country exceeded 2 billion euros, state debt agency IGCP said on Monday.The variable rate bonds yield a minimum 2 percent over the six-month Euribor rate, with interest paid semiannually. Portugal has been relying more on the retail market for bond placings in the past year, regularly selling more than planned. Treasury ...

World - Global Business & Economy

Growth stalling would be biggest risk to Europe&#39;s economy: ECB&#39;s Draghi FRANKFURT: Stalling recovery would be the greatest risk facing the euro zone's economy, the head of the European Central Bank said on Monday, underscoring, before an important policy decision next week, the ECB's focus on supporting growth. The ECB is due to decide next week on whether to extend beyond March its 1.74-trillion-euro ($1.84-trillion) bond-buying programme, the centrepiece of its much-criticised stimulus policy, that some say has created bond and property price bubbles and should ...